03 May 2019

How To Survive In Business Without Bank Loans

A few months ago, I remember vividly the experience and my guts. This made me feel like I not there yet but I’m almost there.

I got a call from one of my account officers and he went straight without delay;

‘Good morning sir. Please, I have been trying your lines and I thought to inform you that you’re qualified to take a loan from our bank. Kindly come over and let’s get the process started sir.”

Great call I must say.

In fact, since I started out in business, 7 years ago, this is the first time, I could get such an offer. Well, all these years I didn’t bother to ask any bank for a loan because as an experienced banker, I knew the factors that would be considered before giving you a loan and I didn’t want to go through the stress and later start regretting it. So, I relied on my approach which I’ve now written a book about. “How To Start A Business Without Money.”

Well, I went straight away to inform the business manager that I wouldn’t be needing a loan. Period.

Of course, it’s juicy and I know how easy people would jump at such offers.

I am not discouraging people who want to take bank loans, but I would love you to have this clear understanding first before you take such steps.

First, why do you need a loan? Basically to expand on your business might be the possible answers.

As true as that sounds, my take is for you to increase your sales and use the income from your business to expand that same business. Do this continuously until you have enough to create another business. At this point, you can request the bank to finance it and they will be glad to help out.

The most difficult thing is that people ignore the part that brings in money and want to take the easy way out.

Take a look at most great business people today.

Over 90% of them had so much income for the products or services from their sales to expand on their business and had to use the banks as supporting instruments to expand or create new income streams.

To be able to achieve business success without the banks, you need to learn how to sell that product or service well enough that you can command exactly the amounts you need every month into your bank accounts.

A young man had once written about his experience after reading through one of my articles and wanted answers.

He said,

Mr. Tim, You’re directly talking to me sir, I made my first N1,000,000 at the age of 18… So the journey hasn’t been smooth but we thank God so far. I also hate the bank loan. I don’t know why. I also read Robert Kiyosaki’s book that says that the rich uses the bank money a lot. How true is that?

And this was my response:

Dear ABC, I’m glad to hear from you. Especially as it bothers on the fact that you’ve made a million at such a tender age. If you could do it then, it therefore means, you can 10x that amount today. In view of your current challenge, I would simply say, it’s all about attitude.

Your attitude towards what you want. How important is it to you. This alone can shapen entirely everything for you.

Guess what? I’m going to work with you here henceforth and help you through those challenges.

As for the Rich Dad Poor Dad Author’s (RTK) comment on how the rich use the bank loans, it is very clear and simple. This works really well abroad because they have “CREDIT CARDS” and other Loans. In Nigeria, Credit card has been introduced by a few banks. However, the banks take cognizance of your turnover first before availing any limit to you. It, therefore, means that, if you do not have a salary account or a business that makes deposit daily into that account, you may never get such an opportunity.

For starters, it is a no go area, hence the need to explore what I wrote in my book. “How To Start A Business Without Money.”

In this book, it clearly deals with starters like you. It’s more of ideas than the cash to start.

Finally, on this, I would love you to stick with me here on this page and learn as I unravel more relevant information that addresses your concerns. Stay blessed.

That was my simple response to him. But today, I need to be clear on this.

Just last month, one of my clients informed me that he would want to take a bank loan to boost his business and I told him to hold on until we execute what I had in mind.

I did two simple things plus the 7 elements I’ve listed below.

The two simple things were basically

  1. Create 2 videos (Brand & Story) sales pitch for him
  2. The rest was putting these 7 elements to actions

At the end of the month, we sold over N15,000,000 worth of products that sold between N3,500 to N5,000 per product. You can do your calculations and see the quantities. Let me help you. We sold an average of 3,529 products.

He’s happy now and doesn’t need a bank loan anymore.

You can actually survive without bank loans with these 7 elements I am about to mention.

  1. Your desire to create a problem solver that has a unique touch, rare and inimitable among competitors.
  2. You must have a goal in mind to achieve your desired written purposes as it bothers on solving peoples’ problems when they use your products or services and at the same time be able to meet up with your end goals for starting out.
  3. You must learn all and everything that involves selling your products rightly to the right target audience.
  4. You must depend totally on the income generated from sales of your products and services to do other things as that is your surest way out, without having the banks on your throat.
  5. Follow up is key to your sales success. You must be able to do this as often as possible.
  6. You must be obsessed about achieving your goals and ensure you put all you can to actions.
  7. You must be willing to review your performance daily to ensure you stay on track.

These are a few of the most important things to stick with.

I hope this helps you create better sales in the coming days for your products or services without asking for bank loans.

For those wanting our services, kindly visit our website www.rocketsaleswithyou.com Call/WhatsApp          +234 802 794 1987 to place your request and we will send you a quote within 48 hours.

And if you want to know how to do this yourself, then grab a copy of my book, “How to Start A Business Without Money.” here.

Let’s help you grow your sales today.

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