Innovative Ways to Reel in Cash
Instead of seeking financing from banks, small-business owners are now finding innovative ways to raise money. For instance, ESSpa Kozmetika Organic SkinCare day spa Owner Eva Sztupka-Kerschbaumer raised $30,000 in one day by offering a free matching gift card with gift-card purchases of at least $500. Other ways are to charge a higher price upfront for discounts later, selectively discount products, use seller financing and turn fixed costs into variable costs.
Source: WSJ.com | June 26, 2009