a BIG idea : How To Come Up With The Big Idea

big idea, unique mechanism, marketing strategy.

A lot of companies experienced tremendous growth because of one thing :

Marketing.

And in their marketing strategy, it is not about creating creatives or hired a super copywriter to craft the headlines and chunk of text in your marketing message.

Yes, the creatives, videos, editing or even copy helps a lot. But the crux of today’s company that is different is their BIG IDEA

If your company do not have one big idea, the likelyhood of thriving in today’s market will be difficult. But once you nail that idea, you will be able to standout from your competitors and conquer your own market share.

A BIG IDEA, also known as:
– Hook
– Unique Mechanism
– Big Promise

Whatever name you named it, and this is for sure: When you sit down and brain storm your big idea, your business will be set. Set For Life.

So, what is a big idea that I’m talking about ? A big idea is an offer that allows you to stand out from the rest of your competitors. It is something your group of target audience has not heard before. It is commonly being referred to as – Unique Mechanism.

Without a big idea, your marketing strategy can still work, however, it will be lacklustre and would never go viral or hit a home run because you will sound the same like the rest of the offers that are fighting for the same attention from the same group.

Want to know what are some of the commonly seen big idea that are floating in the weight loss industry ?

“Keto Diet”
“Mediterranean Diet”

I bet you have heard of these fanciful diet. Those that come up with these make money initially. But if you try the same idea today, it won’t have work well.

Let me share with you this ONE method that I’ve been learning from Evaldo Albuquerque 16-word sales letter and is currently implementing it in the business.

Even though it is more inclined towards copywriting, but it is practical in your big idea ideation.

and this is his 16 word sales letter. ” The secret to converting copy is to define the one belief, then answer these ten questions ”

The formula is the following : This NEW OPPORTUNITY is the key to THEIR DESIRE and it’s only attainable through my NEW MECHANISM.

Back to the ten questions, these are the ten questions you should asked yourself when you are planning your marketing strategy.

1. How is my product/service different from everything else I’ve seen ?
2. What’s in it for the customer ?
3. How do the customer know what you said is real?
4. What’s holding your customer back from the buy button?
5. Who/what is to blame ?
6. Why should your customer buy now ?
7. Why should your customer trust you ?
8. How does your product/service work ?
9. How can your customer get started ?
10. What are the risk that your customer will faced (What do they have to lose) ?

Using the weight loss example above, this is how one can market their service if they are in this industry.

“Studies shows if you go to bed stressed, your body will produce more fat cells and if you go to bed without stress, your body will burn fat”

With this marketing big idea, I can sell a product or promote a service that helps to alleviates stress (new mechanism) for the target audience to get their desire (lose fat).

Got the idea now ?

If you would like to discuss more on big ideas and unique mechanism while tapping on branding and marketing grants to scale your business, contact us here.

Revolving and Non-Revolving Facilities : Which To Choose ?

Revolving

As a business owners, the term revolving credits or non revolving credits should be familiar to you. Whether you heard from it through a banker or from fellow friends, you might wondering how it works and under which circumstances you should choose the one over the other.

Revolving Credit Facility

Think of it as “revolving”, borrowers can borrow and payback multiple times through a use of credit line issued by financial institutions. It is not consider a term loan because during the allocated period of time, this revolving credits facilities allows the borrower to borrow, repay and repeat. However, for term loan, borrowers will get a certain amount of funds with fixed repayment schedule.

How Business Can Apply For Revolving Credit Facility and Use It ?

A revolving credit facility is usually issued by banks or funders. It is typically a line of credits used by private business and the criteria for approving the amount depends on the stage, size and industry that the business is it. Banks or funders would usually examine the financial statements such as income statement, balance sheet etc. to determined if the business will be able to repay the debt.

Should a company have good credit rating, steady income and strong cash reserves, the odds of getting a higher credits and approval will be higher.

Example Of How a Business Can Use The Facility

XZY Packaging company secures a revolving credit facility line of $500,000 and the company uses the line to cover payroll and other overhead while waiting for their account receivables (money to be paid to XZY) payment. XZY company uses $300,000 of the revolving credits on a monthly basis and pay it off to the banks once their account receivables is received.

One day, ABC company engaged XZY for packaging service for the next 3 years with a contract size of $500,000. With the secured contract, XZY is able to use $200,000 of it’s revolving credit facility to purchase the required machinery for the contract.

Non-Revolving Credit Facility

Non-revolving credit is the opposite of revolving credit facility. Instead of having access to the funds whenever the business needs it, non-revolving credit cannot be used once it is paid off.

The credit facility is granted on a one-time basis and it will be disbursed fully with the business owner agreeing on the interest rates and repayment schedule, usually with monthly payments. The common non-revolving credit that is on the market is the business term loans.

Example Of How a Business Can Use The Non-Revolving Credit Facility

123 Company has decided to scale up it’s operations and expansion to a larger manufacturing space. By securing a non-revolving credit facility of $500,000, 123 Company owner get to decide how the funds can be use in their future operations. Whether is it for manpower, purchasing of goods.. it boils down to the business owner needs and forecast.

Which Credit Facility Should SME Owner Choose ?

This depends on the financing requirements that the SME is looking for.

Typically, if it is a short term funding needs such as payroll, SME owner can look into revolving credit as a “Back Up Facility” to deal with sudden and short term working capital emergencies and without affecting the operations of the business and ensure cash flow is healthy.

And for long term funding such as expansion, buying more machineries or getting more stocks/supply, SME owner can venture into non-revolving credit where it will take years before the returns will be materialize.

Make an appointment with us and our consultants will be able to advise which facilities would be fit your upcoming project or uses.

Pay Supplier On Time Without Stressing Over Cash Flow

Empower SME with flexible financing solutions

With global monetary conditions tightening, small- and medium-sized enterprises (SMEs) operating in Singapore may encounter greater challenges when seeking traditional bank loans. This is especially true for newly established SMEs with limited or no credit history, as meeting the eligibility requirements for bank loans can prove more difficult, leading to extended approval processes.

 

To mitigate cash flow constrains and broaden their access to essential funds to expand their operations, SMEs owners can seek for brokerage help. With the wide network of partnership a brokerage has with different banks and funders, a brokerage is able to help SMEs owners bridge the gap and secure the necessary financing needed.

 

Despite the high criteria set by local banks to new SMEs, our partners will be able to customise flexible solutions by understanding SMEs owners business models and the requirement needed to grow. One problem that SMEs owner faced is maintaining a balance between prompts payment from customers so that they could meet the obligation to suppliers to buy new inventory.

 

When customer delay the payment to SMEs, SMEs are compelled to dip into their available cash flow which usually is used to pay off their overheads such as rentals and salaries, in order to fulfilled the obligations to their suppliers payments. This eventually creates a cashflow issue when the input is less than the output.

 

To fixed this issue, Beez Rev has partner up with funders that will be able to extend credits to SMEs suppliers. This will help to alleviates the burden of handling overdue payments from customers. With our funders offering up to $500,000 credit limit, SMEs is able to make purchase orders from suppliers and our funders will pay the supplier invoices often within a span of 3 days  and the SMEs owners has up to 90 days to reimbursed back to the funder.

This way, SMEs can unlock additional cash for their business while adhering to the timeline given by their suppliers and nurture a close relationship with suppliers while enhancing their future bargaining power in future transactions.