I’ve come across many business owners who know that extra funding will help their business get to the next level and provide certainty, but are in the dark about the right way to going about doing this.
In a survey I did with 2,500 business owners, I learnt that there were two fundamental areas where most business owners struggled:
- not knowing where to start in the first place
- not knowing how to deal with the financials
But the fact of the matter is that funding for businesses is in a healthy state right now. Even though banks haven’t opened up as strongly as pre-2008, businesses are getting funding. Venture capital and private equity are also keen to deploy capital to make up for a period where they were keeping their powder dry. And you only need to add to this the fact that numerous government initiatives for grant funding, and the explosion of crowdfunding, to understand that the issue is not with the supply side.
Consequently, businesses are missing out on funding.
To help businesses redress this balance, I have created a free training series to deal with some of the concerns that surfaced from my survey.
Visit The Smart Business Plan Academy to get access to the free training series.
Video 1 gives you my free financial model template that I use with clients. In the video, I also go through a worked example explaining how to use this model for your business.
Business plans are an essential part of the fundraising process. Funders, (debt and equity) require a business plan in order to assess your business so they can decide on whether or not they write you a cheque.
But many entrepreneurs struggle with writing business plans. You may well be in the same boat. Fears and frustrations entrepreneurs typically have include:
- not knowing how or where to start
- not knowing what you need to include
- not knowing how to construct a financials section
- having a fear about if your business plan makes sense
- trying to build the business plan and run your business at the same time; how do you put your time to best use?
Despite these very understandable fears, creating a business plan should actually be a very straightforward process for business owners. You see the problem many entrepreneurs have is they get caught up in following a defined structure that is taught and written about in business literature. However, to create a powerful business plan, that demonstrates your authority, and which you can create in a reasonable period of time, you need to put a framework around your plan, and ask the most relevant questions of your business to build the business plan.
This is exactly the system I have been using with my business clients over the years with great success. In the process, I’ve helped raise millions in funding from banks and investors to help the businesses grow and succeed.
In fact, this is what one business had to say:
If you would like to take advantage of this system (that includes insights on the right way to pitch), then please sign up below to start receiving free, actionable material straight away.
On sign up you will receive a free cheat sheet that tells you the 7 steps to building a powerful 20 page business plan in 30 days.
The cheat sheet will help you create a business plan that gets noticed, and help you build your business.
Throughout all my roles as a business consultant, mergers and acquisitions specialist, and an investor I have come across hundreds upon hundreds of business plans. One thing that I constantly get asked about is how to develop a quality business plan that is relevant. Clearly, the relevance of the business plan depends to a large extent on its purpose and audience. However, there are typically a number of recurring questions I often get asked.
Example questions around building a business plan include:
- How do I know what’s required for a business plan?
- How can I build a business plan quickly?
- How can I keep it up to date and relevant?
- How can I start implementing elements of my plan?
- How can I adapt one business plan for a different purpose?
- How can I overcome the technical and financial elements of a business plan if I have no business background?
These questions are important to address to help business owners overcome their concern and fear around business plans. However, as an entrepreneur your job is to focus on building the company, not fretting over crunching numbers and talking like an MBA.
But worry not. I am developing an online course to help you build a business plan that allows your business to succeed and I want to know what you would like to know more about building and using your business plan. Click on the button below to take the ONE question survey (or leave a comment below) so that I can build a course that reflects your needs. You will be added to the VIP list for the course.
Take The Survey
One of the questions I get asked the most by business owners is what they need to do to ensure they can successfully sell their company when the time is right. Although many entrepreneurs ask me this question when they are preparing for sale, many others ask well in advance of any potential sale process.
Example FAQ’s around selling your business include:
- When is the right time to sell my business?
- How do I find the right buyer for my business?
- How can I maximise the price for my company?
- How can I ensure the exit process is as smooth as possible?
- What documentation do I need to prepare and how?
- How can I minimise advisor fees or manage advisors properly to limit fees and increase output?
And the list goes on. And its great because if there is one area of business that I think entrepreneurs underestimate, it is the exit-planning phase. This is a real area where you can maximise a large amount of value for a disproportionately little amount of effort.
I would love to hear what YOUR burning questions are around selling your business so I can help you. Click on, and complete, the very brief survey below so I can make sure I cover what you want to know.
Click the button below to take the survey.
Click Here to Take The Survey
Raising any type of funding for a startup is hard. But trying to raise funding when you are first-time founders and have no experience of working with investors can be very intimidating.
Getting to the point where you are ready to raise money is an achievement in itself and demonstrates that you have competently managed the very early stages of developing a startup, which are, in themselves, fraught with danger. However, many first-time founders flounder when it comes to securing funding for their startup.
Absolute Essentials to Ensure Funding Success
Before looking to raise startup capital there are a number of essential ingredients that will facilitate your ambitions. Continue reading