FREE PROFIT GROWTH SIMULATOR
Working Capital

Navigating Business Loans Post-Bankruptcy: Strategies to Boost Profits and Secure Business Working Capital

Whether you’ve experienced personal or business bankruptcy, the shadow of past financial struggles can loom large when applying for new loans. However, bankruptcy doesn’t spell the end of your entrepreneurial journey. 

By strategically increasing your profits and demonstrating financial resilience, you can enhance your eligibility for business loans. 

Here are three actionable tips to help you boost your profits and secure the working capital you need.

1) Monetize Unconverted Leads

No company converts 100% of its leads into sales, which means there’s a significant opportunity in unconverted prospects. Instead of letting these leads go to waste, consider partnering with complementary businesses to cross-sell their products or services to your unconverted leads. This tactic not only helps you recover your marketing investment but can also generate additional revenue streams.

For instance, if you run a software company and have leads that didn’t convert, you could partner with a business that offers complementary services, like hardware solutions or IT support. By referring your unconverted leads to these partners in exchange for a share of the profits, you turn potential losses into gains. This approach can significantly enhance your profitability without incurring additional costs.

2) Leverage Customer Segmentation and High-Value Targets 

Focusing on the right customers can drastically improve your profit margins. Start by analyzing your existing customer base to identify those who generate the most revenue and stay the longest. These high-value customers are your business’s backbone, and attracting more like them can boost your profits substantially.

Conduct a thorough survey of your customers, examining demographics, buying behavior, and pain points. Use this data to refine your marketing efforts, ensuring that your messaging and offers resonate with the most profitable segments. For example, if you’re in the fitness industry, you might find that gym owners with higher revenue streams and longer client retention are your best customers. Tailor your marketing to attract more of these high-value clients, ensuring that every dollar spent on acquisition has a higher return.

3) Implement a Robust Referral System 

Referrals can be a powerful tool for increasing your profits and securing more capital. Implement a system where you actively encourage and reward referrals from your existing customers. This not only helps you gain new customers at a lower acquisition cost but also increases customer loyalty and satisfaction.

Start by declaring to your customers that your business thrives on referrals. Let them know that you appreciate their recommendations and that you’re committed to treating their referrals with the utmost care and attention. You can also create discussion groups where current customers can bring friends who might benefit from your products or services. This approach not only generates leads but also builds a community around your brand.

Furthermore, consider creating non-competitive referral groups with businesses that target similar customers but offer different services. For example, a marketing agency could partner with a web development firm, referring clients to each other and sharing the profits from these referrals. This strategy expands your network and increases your profit potential without additional marketing spend.

Types of Business Funding 

Understanding the different types of business funding is crucial in finding the right fit for your needs. From traditional bank loans and lines of credit to alternative financing options like merchant cash advances and crowdfunding, each type of funding has its own benefits and drawbacks. Research thoroughly and choose the one that aligns with your business goals and financial situation.

What’s Next

Rebuilding your business post-bankruptcy is challenging, but by strategically increasing your profits, you can improve your chances of securing loans and driving growth. By monetizing unconverted leads, focusing on high-value customer segments, and leveraging a robust referral system, you can create new revenue streams and demonstrate financial resilience to lenders. 

Remember, your past financial struggles do not define your future; with the right strategies, you can build a stronger, more profitable business.

Implement these tactics and watch your profits grow, paving the way for financial stability and access to the capital you need to thrive.

By partnering with Menture, our team can help optimize your current operations and sales performance to boost profits. Plus, our team can assist to secure up to $500,000 in working capital financing to implement these strategies effectively and achieve significant improvements in sales and profitability.

Do You Want Help To Increase Profits & Boost Company Value?

Whether you are looking to sell your company, grow and scale your existing company or need access to strategic capital to fuel growth - we can help!

We offer strategic and creative solutions for many unique situations to drive profits and increase company value.

Leave a Reply

What email should we send the PDF to?
(You must use your real email, otherwise you won't receive the PDF!)
Guide to Million Dollar Success
My Website
[affiliate_registration]

This will close in 20 seconds

[affiliate_login]

This will close in 20 seconds


FREE Service - Book Your 30 Minute Collaboration Call​

(Wait for the calendar to load and pick a time that works for you)


This will close in 0 seconds

Privacy Settings
We use cookies to enhance your experience while using our website. If you are using our Services via a browser you can restrict, block or remove cookies through your web browser settings. We also use content and scripts from third parties that may use tracking technologies. You can selectively provide your consent below to allow such third party embeds. For complete information about the cookies we use, data we collect and how we process them, please check our Privacy Policy
Youtube
Consent to display content from - Youtube
Vimeo
Consent to display content from - Vimeo
Google Maps
Consent to display content from - Google
Spotify
Consent to display content from - Spotify
Sound Cloud
Consent to display content from - Sound
Free Profit Growth Tool