YES, THAT’S RIGHT! We’re talking about getting funding for your business. After all, that’s why you’re writing a business plan isn’t it?
Our experience has taught us that there are many reasons why entrepreneurs fail to get funding, but over the years we have found some common recurring themes.
Failing to answering the questions that financiers want to know is at the top of the list. Blatantly using a business plan template with no original analysis of business risk is up there too and is almost always guaranteed to sink your chances. Not only is it completely apparent that it’s a cut and paste exercise, the plan doesn’t stand up to questioning. A BIG no-no!
Presenting grandiose, unrealistic projections, and not explaining the key financial metrics in the business can immediately expose an entrepreneur’s financial naivety. This leads to credibility being decimated and the chances of obtaining funding evaporating.
Demonstrating a lack of understanding around market and competition analysis will highlight that there is no clear business strategy. And many entrepreneurs don’t identify key milestones that financiers focus on to demonstrate that risks will be mitigated and they will get their money back! So they don’t invest.
So How Do YOU Learn How To Avoid The Pitfalls?
If you want a business plan that will secure funding, then what you need are clear instructions and sound advice from professionals in the industry so you can:
- Complete even the scariest sections of the business plan so you deliver a polished and relevant presentation to your target audience
- Gain real insight into your business by understanding the fundamentals of analysis and knowing how to use it to secure funding
- Easily avoid the potentially damaging effects of having your funding application declined because your business plan is not targeted to your audience
- Heighten your chances of raising much needed capital by revealing your business’ unique qualities and your understanding of business risks using simple steps developed by actual financiers
- Discover the thrill of understanding your business strategy and securing funding to propel your business to the next level.