Bigger moves with a strong demand Pipeline
A strong demand pipeline is, and should be a confidence-generator; confidence that the business is on the right track, and well aligned to the needs of a target market. It can even show a business new target markets, if you know how to look well enough.
With this confidence and evidence, we can and should use to make small, quick-win types moves (I wrote about that here), but there are also some bigger moves available, using that demand pipeline as the underpinning lever.
Here’s what they might be.
Seek funding or credit
If you need it to fund strategic growth or innovation, you can use your demand pipeline as proof of traction to raise capital. There are various ways to go about this:
small business loans
grants
angel investors
crowdfunding
revenue-based financing
government innovation funds
Community Development Financial Institutions (CDFIs)
venture capital
Invest in expanding capacity
Use your demand pipeline to bring in help - to scale operations, marketing, or customer service.
Alternatively, outsource non-core tasks to stay lean (once you have enough steady work, outsourcing become an option as another professional usually only wants to get involved once there is enough to get involved with)
Increase production or inventory
Invest in tools or infrastructure to handle more volume.
Enter new channels or markets
Sell through new platforms
Explore geographic expansion
Partnerships and Distribution
Collaborate with complementary businesses for co-marketing or bundling.
Leverage distribution channels
Formalise referral partnerships