Forget the ads where a happy, smiling team of bankers sing about their friendly service… banks are hard-hearted businessmen who only smile if you’re making them money or you’re about to make them money.
And right now in today’s financial uproar, they aren’t getting any friendlier.
They certainly don’t just finance a business just because you seem honest and friendly and you really want it. And maybe that’s what puts most people off when it comes to asking for money. They just assume they’ll just walk into any bank and the bank manager will gladly give them all the money they want.
But if you follow the following steps as set out below, you’ll up your chances of walking away with all the finance you need, while others walk away empty-handed…
Step #1: Use clever, hidden psychology
Be clear about what your business is offering. For example, if you want to run a bar you might think you’re selling beer – but that’s not really what makes a bar or club a success. After all, ALL clubs sell beer, so you’re not going to excite anyone with that idea. Instead, think deeper. What’s your venture really about? In this example, it’s about entertainment... People go to bars to satisfy a social need, not simply to booze. They could do that at home for a third of the cost. So sell the idea of what will make people go to your bar rather than the one up the road.
Step #2: Expenses are more important than profits!
Don’t be afraid to show expenses. In fact, flag them up loud and clear. Show one-off set-up costs, show a marketing budget (you’ll DEFINITELY need to advertise), show the direct costs of your product... If you show the costs, you’ll show you understand your market and what’s needed to break it. So don’t go in with wild claims that you can turn $25 of their backing into $1 million overnight. That’s not realistic.
Step #3: Entice them with your ROI
Try to tie your costs into return on investment (ROI). Banks like clear figures that show that if $10,000 is invested then it will lead to $100,000 of income, for example. The tighter the link between the investment from the bank and the return – the better this will read to your prospective investor – your bank. Include goals and milestones in your plan that demonstrate how you will be measuring your success along the way...This shows to your bank that you intend keeping your promise, and they know from dealing with many new businesses that monitoring progress is a key factor in business success.
Step #4: Use the power of innovation
Demonstrate how innovative you and your business can be... Banks like to see creativity and even if your business concept or product does not set the world on fire with excitement, the way that you run your business can. So, introduce new and interesting ways of promoting your business. For example, targeted ads for women-only car insurance now appear on the back of cubicle doors in the ladies loos of many highway service stations! An idea like that’s enough to make even a fairly dull business idea sound interesting!
Step #5: Get rich slow – not quickly!
Impress your bank by showing them you’ve a well thought out strategy for future growth – and that you want them to work with you at every stage. Show your bank a short, medium and long term plan such as your initial set-up, three years and five years. Your bank manager will see that you have thought your way through the issues and how your business is likely to grow long term. And, if you talk about this long-term plan with confidence, the bank manager will actually start to picture your business being around for five years, ten years and longer.
Step #6: Use realistic optimism
At all stages show your bank you’re optimistic about your success, but realistic about the constraints along the way. All businesses have ups and downs and to suggest otherwise would show a level of over-optimism that would make your bank distinctly nervous. So, introduce a healthy dose of realism into your plan and show that you are ready to face the challenge!
Step #7: Show them ‘Plan B’
Managing risk can be the make or break in any venture – and yours will be no different... If you want to make the big bucks, you’re going to have to take some chances. And you need to show the bank what you’ll do when things go wrong. And they will. Of course, your “rights” should heavily outweigh your “wrongs”. But banks will want to see you have a Plan B in the event that one of your ideas fail. Identify the major risks to your business in your plan and then show how they’ll be overcome by creativity, monitoring and good management. In other words, you should answer the difficult questions before they ask them!
See more at www.longlife4learning.com
Tuesday, July 28, 2009
Monday, June 29, 2009
Business Books for Beginners
“What They Didn’t Teach you in School: Life Long Learning Tips to Land a Job Straight out of School”.
It’s so hard for new graduates and school leavers to know exactly where to start.
They’re bombarded with all kinds of information all around them and sometimes have no clue about the kind of work they want to do themselves or the career path they want to take. The most difficult thing, for beginners, is knowing just how and where to start.
This comprehensive e-book covers all aspects of Job Search, thus clearing the confusion and encouraging the student to find the track to which their own skills and their own talents are most suited.
As a special offer for graduates and students the e-book is discounted to R50.00 for a limited period Only.
To access a copy of your e-book visit: www.mystudent4life.com
“Business Prep Guide: You’ve Got To Read This Book Before You Buy Any Business Start-Up
So you now want to start a business?
You need to make sure you have properly prepared yourself for this journey. Preparation and attention to detail is vital before you decide to leap into starting your own business. In the “Business Prep Guide” you will be taken step-by-step through a process that will help you to accurately determine what the best type of business is for you.
In this book, you will learn about all the necessary preparations that you need to do.
This guide will help you:
Prepare your personal plan and set up your long-term business goals.
Identify reasons for starting a business.
Transition from employee to entrepreneur.
Lay the foundation for success before quitting your job.
Prepare you to start a new life.
To access a copy of your e-book visit: www.businesslearning4life.com
“Which Business Should I Start?
The single most important success factor for entrepreneurs is choosing the right business.
Evaluate your expertise and passions. Often the best way to identify which type of business to start is to examine where your expertise and passions intersect.
Starting a business that combines your expertise and passions is an excellent idea.
There’s no right or wrong business – but there are businesses that are right or wrong for you!
It need not be, for you, because this e-book will help you review your goals, interests, hobbies and skills giving you an accurate assessment of what kind of business would be a good match for you considering all the factors. It will take you through a helpful step-by-step process, revealing the ideal business for you.
You can also download this e-book in a summarized e-Report version at an incredibly discounted prize which is stacked with only the information you need. Stripped of all the fluff and you will only read facts that you want to help you choose your own dream business.
To access a copy of your e-Book or e-Report visit: www.businesslearning4life.com
How to Start your own Small Dream Business?
Whether your are investigating the possibilities or are ready to start your own business this guide provides a practical road map to starting your business that will enable you to succeed with ease.
Whether you are looking for a side business or a full-time business, you will learn the ins and outs of running a business using proven strategies and effective marketing techniques contained in this guide.
This guide shows you how to assess your personal skills, estimate your start-up costs, choose the right business and stay profitable once you are in business. From painless planning to achieving success including:
• Building your own business website
• Marketing your business
• Managing and controlling your cash flow
The step-by-step methods in this guide are practical, easy to use and understand and will put you on your path to building your successful part-time or full-time business.
You can also download this e-book in a summarized e-Report version at an incredibly discounted prize which is stacked with only the information you need. Stripped of all the fluff and you will only read facts that you want to start your own dream business.
To access a copy of your e-Book or e-Report visit: www.businesslearning4life.com
“Boost Your Sales and Attract New Customers.”
Once your business is up and running it’s time to read “Boost Your Sales and Attract New Customers. This book will show you “Out of the Box” marketing and advertising strategies that will boost your business to higher level.
The book offers not only the background and basis for your program of study, but also offers over 50 new and exciting ways to improve the marketing and advertising efforts for your business. If you are currently in business, this section will prove invaluable for development of ideas and opportunities. Don’t just stop with the ideas we’ve offered…create your own. Develop more and more extended ideas from our starting point. Making your dreams a reality is the ultimate outcome of this book.
To access a copy of your e-book visit: www.businesslearning4life.com
You can also download your FREE e-book.
It’s so hard for new graduates and school leavers to know exactly where to start.
They’re bombarded with all kinds of information all around them and sometimes have no clue about the kind of work they want to do themselves or the career path they want to take. The most difficult thing, for beginners, is knowing just how and where to start.
This comprehensive e-book covers all aspects of Job Search, thus clearing the confusion and encouraging the student to find the track to which their own skills and their own talents are most suited.
As a special offer for graduates and students the e-book is discounted to R50.00 for a limited period Only.
To access a copy of your e-book visit: www.mystudent4life.com
“Business Prep Guide: You’ve Got To Read This Book Before You Buy Any Business Start-Up
So you now want to start a business?
You need to make sure you have properly prepared yourself for this journey. Preparation and attention to detail is vital before you decide to leap into starting your own business. In the “Business Prep Guide” you will be taken step-by-step through a process that will help you to accurately determine what the best type of business is for you.
In this book, you will learn about all the necessary preparations that you need to do.
This guide will help you:
Prepare your personal plan and set up your long-term business goals.
Identify reasons for starting a business.
Transition from employee to entrepreneur.
Lay the foundation for success before quitting your job.
Prepare you to start a new life.
To access a copy of your e-book visit: www.businesslearning4life.com
“Which Business Should I Start?
The single most important success factor for entrepreneurs is choosing the right business.
Evaluate your expertise and passions. Often the best way to identify which type of business to start is to examine where your expertise and passions intersect.
Starting a business that combines your expertise and passions is an excellent idea.
There’s no right or wrong business – but there are businesses that are right or wrong for you!
It need not be, for you, because this e-book will help you review your goals, interests, hobbies and skills giving you an accurate assessment of what kind of business would be a good match for you considering all the factors. It will take you through a helpful step-by-step process, revealing the ideal business for you.
You can also download this e-book in a summarized e-Report version at an incredibly discounted prize which is stacked with only the information you need. Stripped of all the fluff and you will only read facts that you want to help you choose your own dream business.
To access a copy of your e-Book or e-Report visit: www.businesslearning4life.com
How to Start your own Small Dream Business?
Whether your are investigating the possibilities or are ready to start your own business this guide provides a practical road map to starting your business that will enable you to succeed with ease.
Whether you are looking for a side business or a full-time business, you will learn the ins and outs of running a business using proven strategies and effective marketing techniques contained in this guide.
This guide shows you how to assess your personal skills, estimate your start-up costs, choose the right business and stay profitable once you are in business. From painless planning to achieving success including:
• Building your own business website
• Marketing your business
• Managing and controlling your cash flow
The step-by-step methods in this guide are practical, easy to use and understand and will put you on your path to building your successful part-time or full-time business.
You can also download this e-book in a summarized e-Report version at an incredibly discounted prize which is stacked with only the information you need. Stripped of all the fluff and you will only read facts that you want to start your own dream business.
To access a copy of your e-Book or e-Report visit: www.businesslearning4life.com
“Boost Your Sales and Attract New Customers.”
Once your business is up and running it’s time to read “Boost Your Sales and Attract New Customers. This book will show you “Out of the Box” marketing and advertising strategies that will boost your business to higher level.
The book offers not only the background and basis for your program of study, but also offers over 50 new and exciting ways to improve the marketing and advertising efforts for your business. If you are currently in business, this section will prove invaluable for development of ideas and opportunities. Don’t just stop with the ideas we’ve offered…create your own. Develop more and more extended ideas from our starting point. Making your dreams a reality is the ultimate outcome of this book.
To access a copy of your e-book visit: www.businesslearning4life.com
You can also download your FREE e-book.
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