Business owners need to start bridging the gap between themselves and their sources of funding, to get over the barriers of communication and start speaking the same “language”.
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Get Funding For Your Everyday Business (Part 2)| Is Success Resources Scam
1. GET FUNDING FOR
YOUR EVERYDAY
BUSINESS
Part 2: How To Grow Your
Business With Other
People’s Money
2. Lost in Translation
Entrepreneurs and small
business owners know
their product very well,
the services they offer,
how to market, how to
sell, but they aren’t
always familiar with the
needs of the business.
3. They know they have a
good business plan, but
they don’t know exactly
how much capital the
need to fulfill that plan.
4. So when these
entrepreneurs and small
business owners
approach banks and
investors without a clear
idea of how much money
to ask for, or asking for
funding for the wrong
reasons.
5. Most business owners
approach banks for
money to fuel their
company’s continued
existence; pay the bills,
fund employee payroll,
purchase equipment.
6. • “How is your cashflow?”
• “What does your balance sheet look
like?” “What are your long-term
plans?”
• “How do you intend to grow your
business?” “How will you pay me
back?” or
• “What returns can I expect?”
But banks and investors are asking
questions like…
7. Banks and investors
aren’t asking these
questions to be difficult,
they’re like doctors
asking the questions to
assess the health of the
company.
8. Most business owners
haven’t spent much time
building relationships
with the bank or
investors BEFORE they
need funding. It’s like
trying to get money from
a total stranger. Do I
know you? Where’s the
trust? Where’s the
credibility?
9. Business owners need to
start bridging the gap
between themselves and
their sources of funding,
to get over the barriers of
communication and start
speaking the same
“language”.
Continuation in Part 3
