It’s often fun and easy to dream about wanting to be in the spotlight, possibly due to a business that you own doing well and everyone knowing about it and cheering.
But to others, this type of dream may feel like something of a nightmare. Instead, some much prefer spending the evening with spreadsheets instead of people. Some prefer being behind the scenes rather than front and center, in a company that rarely would be in the news or public view.
That’s OK – various studies have shown that business that focus on less glamourous services or products do well, while it sometimes can be more of a struggle for more visible businesses. So it’s a bit of a trade-off.
It can be appealing when you go out and seek financing for your business. Your potential lender may have seen a lot of requests from the more visible or glamorous businesses. It may not have seen many from you, which could be something in your favor. Showing that you’re interested in pursuing a topic that’s outside of the norm may show that you’ve done your research and you see things a little bit different – all good things.
More less glamorous can be appealing for investment efforts as well. A study in investing shows that the less glamorous path is slow and steady, rather than “high risk.” The former lets market forces plug along and won’t need to make decisions that can either have a nice return or more likely a loss.
Lenders also like the focus on stability vs. being in the spotlight.
An unglamorous business can also be appreciated. It could solve problems at different points on a larger businessses’ supply chain that this company may not want to deal with. For instance, a company could hire another company to take away waste, help with HVAC or other vital components if daily business.
These niches can be the sweet spot for a business looking for a place where they’re relevant and needed but not as flashy or as noticeable.
For more strategies for businesses, visit Infinity Lending Solutions.