Starting a brick-and-mortar business is already difficult enough, but securing funding to support growth is an entirely different battle. In this article, capital-raising expert Dave Lavinsky explains how marketers can use their expertise to help clients grow their business by raising capital, and build a long-term client relationship to boot.
Helping your client to grow their brick-and-mortar business is no easy task.
This sentiment is even more powerful in today’s business landscape, where viruses and variants threaten the existence of established brick-and-mortar businesses around the world. Even before COVID-19 changed the way we consume and make purchasing decisions, business owners were already facing challenges of a different kind.
An oft-cited statistic from the U.S. The Bureau of Labor Statistics says that 20% of American businesses fail within the first year. Within five years, that number jumps to 50%. Some of the best retailers of the 21st century faltered: Sears; J.C. Penny; Pier 1 Imports; GNC, and Toys R Us, among others. In 2019, a record-breaking 9,500 brick-and-mortar stores went out of business. In 2020, an additional 12,500 stores closed.
But this isn’t a grim tale about the highly-debated future of brick-and-mortar stores; if anything, the pandemic has given people a new appreciation for neighborhood retailers, restaurants, and experiences. Companies who were able to pivot their strategy survived—and even thrived—during COVID, with those…