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Boost Your Business's Buying Power (That Really Works)

How to Boost Your Business's Buying Power (That Really Works)

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September 07, 2024•8 min read

Boost Your Buying Power (And Get What You Need to Grow Your Business)

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“NCash flow is the lifeblood of any business. Without it, even the best ideas can't thrive." - Leila Hormozi

How do you increase your business's buying power to grow faster? 👊

Well, you need the ability to buy a lot more stuff, products and services

So how do you get the business credit and financing to do it? That's exactly what we're covering because there's a lot of reasons why you'd want to do this.

FIRST:

It allows you to buy things in bulk and you can get discounts of up to 70% of what you're buying just because you're doing it in bulk. In order to do that...you need money.

By having the credit and financing you need to do this you can save a lot of money on the main things you need to actually sell your products and services.

This could mean a lot more margin for you which means more profit which means more capital to grow and more money in your pocket.

BETTER TERMS WITH SUPPLIERS

Do you know why established businesses can do more with their suppliers? It's because of their increased purchasing capacity that allows them the leverage to buy in bulk and have better margins, which makes them better competitors.

We want you to be better competitors so now you know WHY you want to this.

Let's talk about HOW you’d want to this.

HOW TO DO THIS

The answer's more simple than you think.

Build your business credit.

Suppliers are looking at your business credit quality to make a lot of determinations.

  1. Should they give yo a credit line?

  2. How much should they give you?

  3. What sort of rates and terms should you pay?

  4. How long should you have to pay it back?

  5. How much should you pay in interest?

So everything about how much you can buy and how much you can pay to buy it, comes down to your business credit quality.

BUSINESS CREDIT QUALITY

👉BONUS DOMINOES! Know this ~ the business credit reporting agencies even recommend to suppliers how much you should be getting. They report your issues and that determines the rates and terms you could pay.

So just by building business credit you have an automatic higher recommendation of credit and you get better terms than if you were just paying your bills as agreed that report to the business credit reporting agencies.

business loans

ONE OF OUR CLIENTS

Got a $300k credit line with out a personal credit and without a personal guarantee with her main supplier just because she established her business credit. She put the time in and invested in herself and her company.

Another clients is getting better bids just because of her business credit quality. She bids on government jobs. And what she didn’t know before she started building business credit is the jobs she’s bidding...are looking at her business credit profile.

Once she started establishing business credit, she’s getting more and more of the jobs she’s applying for. WIN!

I can go on and on with the stories of how powerful this can be.

But by building business credit your’e building a credit history that shows you pay your bills as agreed.

This entices them to want to give you more credit, higher credit lines, better terms, which helps you to buy more and grow even faster.

✅BONUS: TPS TO DO THIS THE RIGHT WAY:

first of all:

  1. Keep an eye on your financials.

  2. Build you business credit intentionally.

  3. Make sure you're monitoring your business credit quality regularly because that's what lenders, credit issuers and suppliers are looking at to make all the decisions about you.

INVEST IN HIGH GROWTH OPPORTUNITIES

Look: the power of business credit and what we do at DominoFX is leverage. Now you're able to get these large amounts of credit with your suppliers. This allows you to use the credit from the suppliers to buy what you need, saving your cash flow for growth.

WALMART, the #1 retailer in the world, does this best. 80% of what they put on their shelves they’re using business credit to buy.

They use the exact strategies.

They go to suppliers, they buy the supplies to put on their shelves, they put it on the shelves, you buy the stuff.

You pay Walmart. Walmart uses your money to pay back the suppliers. Checkmate.

WHAT THIS ALLOWS THEM TO DO

Conserve and save their cash

They use it now for growth and expansion. It's why they have over 10,000 locations around the world!!

OPM

OPM is other people s money. This is the power you can have when you're using this strategy to gain more buying power.

PITFALLS TO WATCH OUT FOR:

🚫Keep in mind there's some things you don’t want to fall into. Your business credit scores are based on how you pay your bills and even one day late will hurt you .

So if you’re going to build this you have to do it the right way. Make sure you get credit and pay it back as agreed.

🚫The other pitfall you can fall into is ignoring the terms they're giving you.

  1. How long are they giving you?

  2. Is it revolving where you can pay a small minimum payment until you pay down the entire balance?

Sometimes you get 15 30 45 60 days. This is called net terms. So you have to clearly understand those terms because the longer they give you to repay the more powerful it will be.

LASTLY...NEVER STOP

You should never stop building biz credit. The more credit you're building for your business, the more loans and credit lines that become available plus the better rates and terms you'll get.

The higher recommendations leads to higher credit limits, higher loan amounts and higher credit lines you'll get from suppliers as well.

IF you want a step by step guide to do this, click the link below for your free guide. It's a step by step guide to do it the right way.

A Dominofx, we help diverse entrepreneurs get financing, stop you from getting denied, and build our business credit so you can get credit money with out a personal guarantee or credit check. We help you tap into all type of legitimate business financing through our exclusive lender network.

HEADLINE

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