why businesses do not get funded
DESCRIPTION
Good Business plans are critical when buying a business, starting a business, sale of a business.TRANSCRIPT
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Or…how having a great Business Plan can make or break your business!
Brian Mazar, CBI, MBA
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What are they?
Who needs one?
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Business Acquisition
Business Loan – operating capital, capital equipment
Bidding for new business
Refinancing of existing loan
You – know where you are going – make yearly adjustments
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Sources of Loans – SBA, Commercial Loans, Investors, Partners, Family
Challenges in obtaining loans
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Company A: Make top notch walking shoe, excellent people
Company B: Make bobble head dolls, excellent people
Company B gets funded while Company A does not. Why?
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Can you really be a reliable supplier, if I really like what I see, you’ve got my business
How do customers make decisions? Corporate Example
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Low Interest Rates – time to refinance and save money – not so fast
Refinance for a lower rate or longer terms
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Change marches on – your goals stay the same - but in a dynamic world how you get there changes.
The story of the sailboat
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Content and length ___________
Key Parts ____________________
All areas are important but the most critical are_______ and __________
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Can I prepare my own business plan?
Who should prepare a business plan?
How much time should be invested in preparation?
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What do decision makers look for?
How banks and investors make decisions?
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What do the sales people say? “No problem. We can get you funded.”
What do underwriters say? – “Not so fast.”
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Having an excellent Business Plan DOUBLES and even TRPLES your chances of obtaining funding.
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Specializations in:
Mergers & Acquisitions (Sell & Buy Side)Business ValuationsGrowth and Exit PlanningBusiness Plans
Healthcare/Medical
505 3rd Street, Suite #301Louisville, KY 40202(502) 244-0480www.fortunebta.com