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Essentials of a business plan in raising bank funding for your business
Hello
Before you start on the plan
Summary
Business purpose, where you are now and what you're aiming to do
+ an interesting fact
Market
Is the market big enough?
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Size, growth & trends
Quantify, quote sources of data
Your routes to market
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How do you reach your customers
Problem you're solving
Real & sizeable market demand
The specific problem
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
Competition
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Who? Offering & marketshare
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Competitor market & trends
Your USPs
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
Products & services
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Brand names, easier to follow names through the plan
Pricing model
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For different products and clients
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Discounts & offers?
Sales
Proven and growing sales, low risk
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)
Sales financial headlines
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£ value
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Growth £ and %
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Trends, seasonality?
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
Your leadership team
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.
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
Balance Sheet
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What is this hiding?
Sales forecast and pipeline
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Commentary, draw out the positives
Other positives ...
Are there 'negatives' that aren't negatives ...
Funding
What's the funding for?
How much?
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Have options in mind
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
Over how long?
Meetings
Prep for the Q&A
Q Gaps?
A Show resourcefulness
Q Prevention, maintain status quo questions?
A Answer and flip to growth and positives
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,
Answer questions
Workshop
FD support
Good luck
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