Personalized Funding for Peak Performance

Once you have determined the funding strategy that will work best for your Amazon business, it’s time to select a provider and begin building a relationship. While choosing a funding strategy is key to maximizing success and boosting your cash flow, it’s only the first step in your funding journey. There are a wide variety of providers offering solutions within each funding strategy, all with varying terms and conditions. It’s up to you to do the research and choose the ecommerce funding provider that can scale alongside your business and support you in the long run. 

In our previous blog, we discussed the benefits of improving your cash flow with external funding. With a clear overview of funding strategies available to Amazon sellers, now it’s time to explore what can make ecommerce funding providers unique and how individualized funding experiences can elevate your partnerships for enduring success. In this blog, we’ll review some of the top value-adds that you should look for to help differentiate amongst the many providers out there, then discuss what it means to offer “personalized funding”. 

Differentiating Ecommerce Funding Providers 

It can be overwhelming trying to identify which ecommerce funding providers are well-suited to your Amazon business. Not only do you need to learn about their services, but any credible ecommerce funding provider will need to review your business history before guaranteeing funds. A great first step when researching potential funding providers, is reviewing their funding criteria to ensure that your business can meet their requirements. 

Ecommerce funding providers can also provide value-adds beyond working capital, such as access to seller communities, additional services, or additional tools in your tech stack to differentiate themselves. While it’s important to keep your eye on the prize (the best rates and funding experience for your Amazon business), these additional perks can help you choose between similar funding solutions. If you’re considering ecommerce funding providers that offer some of these perks, it’s wise to take into consideration what will have the most impact on your business. Your funding could be stretched even further, benefiting from perks like discounts on additional services or having access to an all-in-one software, which in turn helps streamline your business’ operations.

By integrating more of your business into one platform you’ll be able to save time and money, as well as mitigate human error that comes with transferring data between apps. That’s why Viably offers a seamless, all-in-one financial management solution to Amazon sellers, including a comprehensive suite of banking, funding, and forecasting tools. With integrated software solutions you can achieve a deeper, more holistic understanding of your business’ cash flow and financial health. 

It’s Personal… 

Every Amazon seller understands how difficult it is to trust a third-party provider with their business. Even if your personal finances are clearly separated from your business, money is always an intimate business. To achieve a secure and comfortable funding experience, it’s important that you find an ecommerce funding provider that prioritizes amazing customer service. 

As ecommerce funding providers deliver a great experience for your business, you’ll begin to build a strong relationship with them. However, to foster a partnership built to last for your Amazon business, it’s important to ensure that your funding provider can nail these aspects of customer service:  

1. Understanding the challenges and growing pains your Amazon business faces. 
2. Be attentive and familiar with your business’ plans and industry changes, so they can help your business scale effectively.
3. Assured mutual trust and confidence. This is critical for a successful relationship, as you’ll need to maintain honest and open communication over time. 

By establishing the foundation of your relationship on these three pillars, you can be certain that your funding provider will support you to the best of their ability. 

What is Personalized Funding? 

Personalized funding takes this trust and confidence a step further to provide you, the Amazon seller, with an individualized experience specifically designed for your cash flow. Since this creates an entirely unique funding experience for each business, it’s hard to say exactly what your personalized funding journey will look like, but it often includes: 

Talking to a Real Person 

There’s nothing more personable than having a real human to guide you through the process. By talking directly with a representative you’ll have the ultimate resource to answer any questions you might have or alleviate concerns as they arise. Plus, by speaking directly to a representative of an ecommerce funding provider, you’ll have someone on your team, who already understands your business, when it comes time for the underwriting process. 

Tailor-Made Offers 

All good funding providers will review your business history when underwriting your offers, but personalized funding goes above and beyond by taking into account any challenges that you may have (or may still be) facing in your business. Many ecommerce funding providers, like Viably, even create unique funding offers for different seller strategies, ensuring that you get the capital you need when you need it. 

Additionally, it’s smart to be on the lookout for funding providers who will align remittance schedules with your Amazon payouts, thus guaranteeing an optimized cash conversion cycle. While it may seem like a small thing, cash flow alignment can mean the difference between streamlined success and a stressful cash flow crunch. 

Potential for Customizable Funding 

The best personalized funding tools will offer sellers an opportunity to customize their own funding. While you’ll still be required to stay within the underwriting guidelines, customizable funding allows you to pick terms and rates that are best suited towards your Amazon seller business’ success. After all, no one knows your business better than you. 

What does it mean to scale sustainably? 

Once you’ve acquired personalized funding, then you can start making moves and really invest in your business’ growth! With working capital that at your fingertips, the sky’s the limit– but a good funding provider gives you more than just the fuel to grow, they’ll arm you with the tools to grow too. Your funding provider is there to help reach your growth goals without burning out. Always work together to ensure your cash flow is scaling sustainably by taking on strategic funding that makes sense for your business. 

While more money in your bank account now might seem better, that’s not always the case. Sustainable growth takes time for any business, and a healthy partnership will help you balance capital so that you can get the most out of every dollar. 

Conclusion

By forming longstanding partnerships with your ecommerce funding provider, they’ll take the time to understand and care for your Amazon business the same way you do. Together you can work to secure personalized funding that meets the needs of your business today while helping you extend your cash flow for the future, so you can scale sustainably. 

In our next blog, we’ll review exactly what it means to scale sustainably and explore strategies you can implement to ensure that you Amazon business does. We’ll also identify tips on how different capital reserves can help increase resilience against market fluctuations and provide a sense of security while growing.