Your Business Will Struggle Without This | Mediocrity is NOT a Plan

Your Business Will Struggle Without This. You don't want to give a bank or the SBA a reason to say, "NO" which is what they're trained to do.

PART 1: https://youtu.be/Q7ncAP3WG-I

One of the main reasons why to write a business plan is because Lenders are assessing risk. They're looking at your documents and financials.

What are the elements of a business plan that we, especially, like to focus on for the financing? What's your Executive Summary of who you are, what you've done, where you are now, where you're going?

SWOT analysis: Strengths, Weaknesses, Opportunities & Threats.

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There's also the Market Analysis. We look at demographics in the industry as well as competition. The goals for your business will also contribute to 3-year projections of your revenue, including your expenses, marketing costs, operations costs, and what you anticipate is your revenue over 3-year period.

Get those basic elements into a business plan, and you have answered the vast majority of a Lender's questions as you apply for financing. Linda, there are 2 other reasons why you would want to have a business plan that have nothing at all to do with credit financing. Do you know what they are?

Besides guiding ourselves for achieving growth & expansion. You would think that would be the #1 reason why you have business plans. Do you have something in writing you could refer to? "Where am I now and where am i going?" Then there's Partners & Equity Investors.

Yes! And if you don't have a business plan, those 3 opportunities, those 3 reasons, those 3 challenges, if you will, can be delayed in accessing them. Or maybe even you could lose out completely. No deal.

Money wants to go somewhere. That equity investor may not wait around for you to get your act together, describe to him or her how you're going to grow the business.

💥 We are Commercial Financing Brokers. We help you get cashflow into your business so you can run your business. Let your account receivable work for you so you can work on your business.

Our role as your financing Broker is to review all relevant documents, including a credit report, in the early stages of your request, before the application, before we've even considered conversing with a Bank/Lender.

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Видео Your Business Will Struggle Without This | Mediocrity is NOT a Plan канала EIDL Loan Experts | Linda Rey & Trevor