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Essentials of a business plan in raising bank funding for your business
Hello
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Before you start on the plan
Summary
Business purpose, where you are now and what you're aiming to do
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+ an interesting fact
Market
Is the market big enough?
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Size, growth & trends
Quantify, quote sources of data
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Your routes to market
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How do you reach your customers​
Problem you're solving
Real & sizeable market demand
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The specific problem
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Real & paying demand?
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Proving your target audience see the need for a solution
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How many are prepared to pay to solve the problem?
Your solution
How you're better than the competition
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Competition
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Who? Offering & marketshare
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Competitor market & trends
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Your USPs
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Competing & defending
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Barriers to entry
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First to market, or second-mover advantage
Competitors may be 'workarounds' to solve the problem.
Business model
How do you commercialise your solution​
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Products & services
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Brand names, easier to follow names through the plan
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Pricing model
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For different products and clients
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Discounts & offers?
Sales
Proven and growing sales, low risk
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Clients
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Number of clients, growth in number?
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Well-known brand names?
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Length of client relationships; referrals, sales spread (not all sales from one client)
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Sales financial headlines
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£ value
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Growth £ and %
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Trends, seasonality​?
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Focus on the positives.
Eg A strong and growing client base. With a geographical or sector or 'other' spread, that reduces risk of a downturn in one area.
Roadmap
Overall purpose
Where you are now
​​Where you want to be
What you have achieved so far
How you'll grow over the next 1-3 yrs
Team
Ability to deliver now & recruit to grow
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Your leadership team​
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Your team
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Coverage on all business areas
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Great at their jobs, expertise, experience
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Committed and loyal to you
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Gaps identified and being filled
Financials
A bridge you believe in, from where you now, to where you want to be.
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Profit & Loss and Cashflow forecast
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12 months actual, plus 12 months forecast
(or for the length of the funding term!)
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Loan repayment
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Avoid distractions: Group P&L lines; 'reframe' names
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Balance Sheet
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What is this hiding?
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Sales forecast and pipeline
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Commentary, draw out the positives
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Other positives ...
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Are there 'negatives' that aren't negatives ...
Funding
What's the funding for?​
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How much?
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Have options in mind
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What for?
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Be specific but not too specific,
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eg £10k for delivery of strategic marketing plan; £15 for x; ...
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Not personal spend or salary
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Over how long?
Meetings
Prep for the Q&A​
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Q Gaps?
A Show resourcefulness
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Q Prevention, maintain status quo questions?
A Answer and flip to growth and positives
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Tips
Know your numbers (I would say that)
Passion for your business, watch for too much detail
Frame the messages
Connections
Wrap up
Here to help,
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Answer questions
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Workshop
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FD support
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Good luck
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