8fig is set to help in the growth plan for satisfying planning and funding needs efficiently

Like most online business owners, you want to grow and scale your company.

The catch is that successfully expanding your business requires money on top of ensuring seamless supply chain management, cash flow considerations, and other factors to achieve the growth you want. 

This is where 8fig comes in handy. 

8fig provides a planning and funding platform designed to help eCommerce companies accelerate business growth while providing access to capital, flexibility, and profitability via cash flow and supply chain management solutions. 

Learn more about 8fig and how the platform can help with your development planning and address your funding needs in this review. 

8fig: A quick overview

8fig offers flexible, equity-free funding and supply chain management tools for eCommerce business owners and sellers. 

The company consists of veteran finance, eCommerce, and supply chain experts committed to driving online sellers to 8-figure revenue (hence, the name 8fig).

8fig's proprietary technology allows eCommerce sellers to manage supply chains intelligently and optimize cash flows. It also provides continuous capital infusions tailored to the eCommerce seller's growth plans through the technology.  

8fig analyzes and validates the seller's growth trajectory to provide accurate and adaptable funding—on attractive terms and without taking equity. 

Through this model, eCommerce sellers can get the flexibility to adjust remittance schedules and growth capital to real-time events as necessary, including demand fluctuations and delayed shipments. 

Essentially, 8fig's technology combined with uncapped, flexible capital and an intelligent remittance schedule allows you to see and plan for the trajectory to scale and help your business grow. 

The onboarding process

Signing up for an 8fig account on the web app begins with: 

• Choosing the primary eCommerce platform you sell on 
• Provide your average monthly sales for the last three months
• Create your account by giving the necessary details, such as your name and email address

Next, you'll need to answer several questions to help 8fig determine whether your business meets the qualifications. 

Select your eCommerce business type, then click Next. 

Enter the product ID (Amazon Seller ID in this example). 

Confirm whether the store linked to the product ID is correct by clicking Yes, that's my store. You can also manually enter your store's URL. 

Select the year your store started operating.

Once 8fig verifies that your business qualifies, the next step is to build your Growth Plan and Lines (more on this later). 

Creating your Growth Plan

8fig helps you create Growth Plans that infuse uncapped, continuous, and flexible capital based on the supply chain stages you plan using the platform's tool. 

8fig walks you through building your Growth Plan, starting with selecting the product you want to grow.

Provide a nickname for your product that makes sense to your account, making it easy for you to identify it later. 

Next, input the number of batches or orders you bought from your supplier or manufacturer in the past 12 months.  

Enter the number of units for your next batch purchase. 

Provide the average price you sell the product for.

After completing these steps, you can start building your Line. 

Building your first Line

Essentially, 8fig provides your eCommerce business financing based on your supply chain Lines. 

In the 8fig universe, a Line consists of all the supply chain expenses associated with selling one batch of your product. 

Depending on your supply chain stages, your Line can include inventory costs, such as the deposit and balance payments and the freight, logistics, and marketing expenses. 

In the template, input your best-estimated costs and the due date of each payment for every stage included in your supply chain.

Customize your line accordingly by removing supply chain stages that are unnecessary or do not apply to your eCommerce business. 

You can also add supply chain stages to your Line using the Other option if the template's provided stages don't match your need. 

8fig allows you to modify the amounts and costs later as needed based on your actual supply chain dynamics and movement. 

To finish creating your Line, enter the date when your items will be on-hand and ready to sell. 

You can view the Line you created on the Line Lab page.

You'll need to create two more Lines (or a minimum of three Lines) for each product batch, and these should span six months or longer before submitting your Growth Plan. 

To create other Lines, you can either start from scratch or duplicate your existing Line and shift it forward.

An even quicker way to add new Lines is to use 8fig's Artificial Intelligence (AI) to generate Lines instantly.

With a single click, the AI can generate an entire year's worth of supply chain planning. It will use the information you've entered so far to create a custom Growth Plan for you, saving you tons of time and effort.

The platform's AI technology focuses on:

• Sales forecasting. 8fig considers several individual factors to predict how your sales will progress during your Growth Plan implementation. 
• Cash flow optimization. The platform conducts a comprehensive analysis of your supply chain's health. Then, it formulates an optimal payment schedule that maximizes your leverage while reducing cash flow strain on your business.

A complete Growth Plan can give you an overall view of your supply chain plan, including how your cash flow can look.  

For instance, in the sample plan, you can see how your cash flow can be tight during May since you'll have payments due for marketing, freight, and deposit. 

Plus, you're only selling via one product batch at that point, which means you might not make enough sales to make remittances on time.

8fig can solve this common issue seamlessly and determine your growth plan's viability for funding by doing the following. 

• Asks to connect to your online store to give 8fig's risk team the information necessary to evaluate your business's growth trajectory. 
• Links your bank as part of the risk assessment process.

Unboxing your Growth Plan

You'll see 8fig's projected revenue for your Growth Plan and the Cost of Goods Sold (COGS). 

Next, you'll see the Growth Capital that 8fig will provide for your plan. 

In this scenario, 8fig provides 90% of the necessary capital (Growth Capital), leaving you with 10% of the risk and capital. 

The Cost of Capital is the cost of using 8fig to carry out the plan.

After completing your Growth Plan, your expected net revenue should be $57,272 (or eleven times the return rate). 

You can review everything, sign, and activate your Growth Plan if you're good to go. 

You can also view your remittance schedule. 

8fig only remits when you sell the goods, taking away the stress of trying to make payments when you don't see enough revenue yet. 

Is 8fig the right platform for you?

8fig's AI technology and a team of fintech, risk, and eCommerce experts design custom Growth Plans for you and help ensure you accelerate revenue growth without sacrificing your equity or profitability. 

8fig Growth Plans are intended for eCommerce sellers, those who operate online stores on Shopify, Amazon, eBay, WixStores, and Walmart with revenue exceeding $100,000 in the last year.   

Learn if your business is eligible and whether you meet the specific criteria before applying on the 8fig website.