4 Things You Can Learn about Small Business Loans on the 10th Anniversary of the iPhone

Posted: January 8, 2017
Category: Finance

Raise your hand if you remember the day the first iPhone was announced? When Steve Jobs stood on the stage and announced a product that would change the world like no one could have ever imagined, the world seemed to stop for a minute. This month marks the iPhone’s 10th Anniversary. That is a decade of new iPhones, new features, and iOS updates.

It is easy to think about all the shiny new devices that Apple has released in the last ten years. It is also easy to think about the company’s success including a very public stock split. But remember, Apple wasn’t always successful. And even in the last 10 years they have faced fierce competition and continued to persevere and innovate. Your small business can have the same success as Apple but you must believe.

4 Things You Can Learn about Small Business Loans from Apple

It is no secret; Apple may be the most successful business ever and as small business owners, there is a lot we can learn from them.

Focus on the Benefit You Are Providing to Your Customers

Apple’s design is always focused on what benefits it can bring to the life of their customer. They are known for thinking about things to make a customer’s life easier before the customer even thinks about it. That’s what we call innovation.

Within your company, you can also think about the benefits of your product. Even if you are working in an industry that you feel has limited room for innovation, there is still room. Who would have ever thought the process to apply for small business loans would change, but Knight Capital Funding is living proof it has. Focus on the benefits you are offering to your customer and let them enjoy them.

Think About Your Customers, First

Apple has continued to modernize their designs as the customer has demanded it. The first iPhone was, in today’s standards, a brick. It was heavy and clunky. But as technology has advanced, Apple has too. Even the headphone jack has gone through a massive change. No longer are you plugging headphones into their own jack. Now, the headphones plug is the charging jack.

Although many customers have complained, not everyone is since this has reduced the number of holes for things to get stuck in. No more pocket lint stuck in the jack for iPhone users.

Although you may not be innovating with hardware, you can continue to adapt your model. Whether you are running a restaurant and changing your menu with the season or you are running a construction business which requires you to continue to learn new techniques. Maybe you own a franchise and are looking to expand into new markets. All things are possible but don’t let yourself hold your business back. Especially if it is purely for financial reasons.

Empower Through Options

Whether you are thinking about your customers or your employees, there is a lot of power in options. People want to feel like you are giving them a choice. Even if you run a simple coffee shop, let your employees assign themselves to their positions for the day. Maybe one day they will be the cashier and then making the coffees the next.

Just like your employees need options, your customers do too. There are not many people in the world that want the same thing day in and day out. Give them the option to choose. Make them want to come back to try something new because you have given them too many things to try in one visit.

Never forget, empowering people to make decisions can help you run a successful business. Remember, Apple gave people the power to choose their storage size. The started out with the 8 GB, 16 GB, and the 32 GB options. Over the years, with the number of apps, photos, numbers, and downloads available, the company realized the phones required more storage. So Apple adjusted. The 8 GB and the 32 GB models no longer exist due to customer demand. Now you can find the 32 GB, 128 GB, and 256 GB. Talk about listening to your market.

The Right Team Matters

Having the right supporting cast to run your business is key to success. When you imagine the team behind the first iPhone what do you think about? Is it a room full of tech guys? Or do you think about the people who bought the first iPhone? Apple is all about the people including their customers.

Remember, how your customers feel when they walk into your store matters. You must think about the whole experience you are offering not just the product or service. Make sure you are creating a warm and inviting atmosphere. Your customers will appreciate it.

As this year marks the 10th Anniversary since the iPhone made its debut, we celebrate a decade of innovation around the world. When you think about how connected our world is and how far ahead of its time the iPhone truly was, it is incredible. So, what will your signature product be?

Small businesses have the power to change the world but you must believe just like Steve Jobs did. He believed in making the people of the world’s lives easier and did just that. At eBusiness, we believe in making your lives easier when it comes to applying for small business loans. With our simple application for our merchant cash advance, you won’t even believe that you are applying for funding.