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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?

  • Proving your target audience see the need for a solution

  • How many are prepared to pay to solve the problem?

Your solution

How you're better than the competition

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Competition 

  • Who? Offering & marketshare

  • Competitor market & trends

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Your USPs

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Competing & defending 

  • Barriers to entry

  • 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

  • Brand names, easier to follow names through the plan

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Pricing model

  • For different products and clients

  • Discounts & offers?

Sales

Proven and growing sales, low risk

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Clients

  • Number of clients, growth in number?

  • Well-known brand names?

  • Length of client relationships; referrals, sales spread (not all sales from one client)

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Sales financial headlines

  • £ value 

  • Growth £ and %

  • 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

  • Coverage on all business areas

  • Great at their jobs, expertise, experience

  • Committed and loyal to you 

  • 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

  • 12 months actual, plus 12 months forecast

(or for the length of the funding term!)

  • Loan repayment

  • Avoid distractions: Group P&L lines; 'reframe' names

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Balance Sheet

  • What is this hiding?

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Sales forecast and pipeline

  • 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?

  • Have options in mind

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What for?

  • Be specific but not too specific,

  • eg £10k for delivery of strategic marketing plan; £15 for x; ... 

  • 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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