Posted on 15/02/2016, 10:30
We are often asked to help business owners find funding to support critical investments or to fund growth. Sometimes this is because the bank has turned down the request for a loan or the criteria are too onerous, other times because the options are not deemed desirable.
The starting point is always the same: understand the need and evaluate the plan. The key is to have a robust plan that demonstrates a return on investment from the funding required.
The next step is to identify funding options. A recent Growth Accelerator study highlighted that successful business owners fund 40% of their investment requirements from within their business. Our experience is that there are many more who believe their business is cash strapped but are unaware that there may be pools of untapped cash awaiting discovery if they only knew where to look.
Where are these pools of cash?
Here are seven suggestions that could help you reveal hidden pools of cash in your business:
In or last article, “Measuring What’s Important” we discussed key performance indicators or KPIs. There are lagging KPIs such as financial measures that tell you what just happened and leading KPIs that indicate what your financials are likely to look like.Read More
Following on from our previous blog in this series, “The Most Important Thing”, the next step is to translate your goals into action. For this, setting your targets and measuring your performance against them is vital to making them happen.Read More
What do you want to achieve in your business? Every owner manager had their reasons for why they started out on that journey – what are yours? And more importantly, are they still valid, are you on track, or are your hopes and desires being frustrated?Read More