On this day back in 1911 a company we now know as IBM was founded. No one could have predicted what the company would become, but their innovative thinking has kept them in business for 106 years. Most people know IBM is known for technology, but many do not realize just how much they have really done. With such an impressive history we cannot let this day go by without acknowledging how much we can learn from IBM’s innovative thinking. With innovative thinking and working capital for small business, companies everywhere can find success. Here are some reasons to model your company after IBM.
When Thomas Watson came to Computing – Tabulating – Recording Company (CTR, which later became IBM) back in 1914 he introduced them to the slogan “think”. When he came up with the slogan at his previous place of employment he refused to expand on what it meant. He wanted people to look at it, figure it out, and put it into action. He is quoted as saying, “By think I mean take everything into consideration. I refuse to make the sign more specific. If a man just sees THINK, he’ll find out what I mean. We’re not interested in a logic course.”
The company has carried this slogan through since that time. However, it can be applied to any and every business, small or large. Many times if you stop to think and consider the possibilities your solution will present itself. But, if you rush through making decisions and run on auto-pilot you might overlook the best options for your business. As an example, if you need a small business loan, but are being denied by traditional lenders you do not need to give up. Thinking outside of the box can help you see that an alternative working capital can provide you with the working capital for small business that you need.
You can make money by mimicking an idea from another business, or you can create your own solutions. For the past 24 years, IBM has received more patents every year than any other company. Thinking leads them to creating. We all know where they have done with computers. But, did you know they were behind the following inventions:
- Magnetic Stripe Technology
- Computing scales – such as what was used for meat and cheese slicers
- LASIK Eye Surgery
- UPC labels – which is a huge time saver when you think of the alternative
- Automated test scoring
- Automated Teller Machines (ATM)
These are just a few of the many inventions that you would recognize. There are many more that will not mean as much to you if you are not familiar with computers and technology. But, either way, they look for problems and create solutions, which is a great lesson for every business. Instead of just doing the same old thing, look for opportunities to create something new.
Every new startup faces the challenges involved with growing. They reach a point of having to decide whether they are going to maintain their current level of business, or are they going to do what they need to in order to continue growing. Growth is not usually easy within a company. But, can you imagine if IBM decided not to continue growing? How many inventions, products, and services would the world be deprived of if IBM decided just to maintain what they had?
Through overcoming the challenges of growing a business, you find even more chances to grow and expand. It builds upon itself. If you give up on overcoming growth challenges your business will slowly start to decline. It is very difficult to just “maintain” as a business if you are not pursuing growth. IBM has grown from a small startup, like any other company, to one that now expands across the globe. They continue pursuing improvement to their current products and services, as well as new ones.
Never be satisfied with where you are in your industry. Always have growth goals. Look for ways that your company can expand and for new problems you can solve. Don’t be afraid to push through the growing pains of your business. It will stretch you and feel tight for a short time, but the benefits are worth it.
Overcoming the Challenges
Working capital for small business is one of the largest obstacles that companies face. You may be great at thinking, creating, and are ready to grow, but lack the finances to make it all happen. Obtaining a traditional small business loan from a bank poses an even larger challenge. Many small businesses fail to meet the requirements and are tied up in a lengthy process that only leads to denial. iBusiness Funding took some time to think, and created a way to help small businesses get the funding they need.
Working capital can provide the funds to small businesses that need the help to overcome the growth challenge. The approval process is fast and easy, and you can use the funds anyway that you like to grow your company. Apply now and you could have access to the funds within 72 hours. Start the process today that will help your company think, create, and grow.