Showing posts with the label financing strategies

Writing Your Business Plan (Traditional or Online Business)

By Robert Thibodeau How To Write A Business Plan In my previous article, I talked about how you can plan your business startup . I defined a business plan as a written description of the future of your business . This is a document that indicates what you intend to do and how you intend to do it. I further explained that if all you have is a paragraph on the back of an envelope describing your business strategy , you have written a plan , or at least the beginning of a plan . I also said that a business plan consists of a narrative and several financial worksheets . I mentioned that the 'writing of a business plan ' as one of the pivotal steps involved in setting up a successful business . By now you should understand the need for writing a business plan . Writing a business plan , for a traditional brick and mortar business , will probably take a lot of time. It may take up to 100 hours or even more. For obvious reasons, a new business needs to carry out a l

Business Financing Strategies - Proof of Market

By Pierre Pinkerton Start Up Business Loans Are Hard to Get  It's no secret and should not surprise most, it's relatively difficult to obtain business financing for a start-up business specifically in getting a conventional bank loan. These financing institutions are in the business of making money ... not losing it based on a 'hunch' or unproven business. So, if you are a start-up or at least thinking of starting a business , how can you solve this problem of getting a business loan from a conventional bank? Here's the key: don't be a start-up business . Easily said, but not difficult to accomplish if you practice discipline and commitment. The main reasons businesses fail in obtaining financing are: Lack of Concept Lack of Market Proof Low Profit Margins Lack of Business and / or Personal Assets for Collateral Today, we'll go over Lack of Market Proof. How to Gain Proof of Market  It's hard to produce and sell products