Sometimes you can achieve profitability by increasing your

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Sometimes you can achieve profitability by increasing your

Ongoing Funding (not Startup Capital)

You may notice that we’ve been using “sustained” or “sustained” funding, this is because 8fig doesn’t actually offer startup capitals.

This allows them to safely provide “unlimited” funding to growing businesses as they only work with companies with a proven track record.

So, if you have a brilliant idea but you New Zealand Mobile Number haven’t built an online store and amassed some sales, then 8fig is not for you unless you can show that you meet some income requirements.

However, this is good news for young online sellers. Growth plan requirements only require 3 months of revenue history, so it’s absolutely possible to open a store, make money, and eventually meet those requirements.

New Zealand mobile number

Financing based on supply chain analysis

A unique part of 8fig is its financing process, where they track the supply chain “line,” or all the costs of selling a batch of products, whether it’s 500 units or 10,000 units.

During your application process, 8fig will ask you to estimate the size of your next batch of items. Then, as the cost progresses through the supply chain, they help you determine the overall cost of that line.

Some examples of supply chain stages and fees include:

  • deposit
  • current balance
  • goods
  • logistics
  • trustable

In the 8fig dashboard, you can build supply chain lines for each product, which helps to calculate the capital required to produce, market and ship each batch of products.

For example, you can enter your own numbers and dates for deposits, balances, shipping, logistics, and marketing. There’s even a button to create a whole new stage in that row and label it “Other”.

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8fig then runs a profitability check to make sure you can actually make money with your current plan. If you find that it ends up leaving you at a loss, you have to go back to the drawing board and either cut costs along the supply chain line or raise the selling price of the product. Sometimes you can achieve profitability by increasing your sales, so it all depends on what’s possible and what’s most important to your online business.

As you can see, raising the price of the product and selling more units brought us to the point of profitability. As mentioned earlier, this profit point is generated by multiple metrics, so you can also leverage cost cutting as a solution.

 

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