Successful funding for small businesses, is a few and far between activity these days. No longer does a thick business plan and a smile get you good credit with your bank, a start-up grant, and funding from the local government agency. Becoming fundable as a business requires a number of key activities to be engaged and completed. These include, but not limited to the following;

  1. a reputation of achievement, perseverance and entrepreneurship stop
  2. a solid financial model around your product offering
  3. having achieved a proof of concept milestone or at least a plan to do so in the near future
  4. a well written plan for your business that contains all the required information
  5. a financial history that is void of red flags and black spots
  6. at least one referral in the funding environment from somebody who actually knows you well
  7. a product offering that is unique either in design or execution
  8. a support team of coaches, mentors and colleagues who have achieved successful business growth and finding either themselves or with past clients
  9. an ability to be scalable to national or international markets
  10. a personal profile and presents that exudes confidence and entrepreneurial ability

Putting all these together is not something one does over a weekend or even within a month. Building up a fundable business can take anything between nine months and five years. Is important to get yourself known in the local markets by joining various programs, entering competitions, and participating in workshops and events. Once you have built a reputation of participation within your sector people will get to know you for who you are and begin to understand the full impact of your business venture, this makes it a lot easier to get those all-important referrals and links to key people in the industry.

It is also important to understand a little about the theory of financing. It is important that you know the difference between the various funding models the content of a term book, how repayments work and the differences in the various equity versus profit models.

It is also important to understand what type of financing you are looking for and where to go for financing. Shopping at the wrong financer for your money will not only results in no loans but also make you look incompetent.

If this is something that you are interested in pursuing for your business, then please feel free to contact us, and we will assist you in this journey.