Need help to raise money for your business? Let RBSS get you finance ready.
Every business requires money to function properly. If your business is not making money, it’s called a hobby. Perhaps you need help to raise money for your business. At RBSS we understand that you are not only in business for a higher good, but also to generate a profit. There are many steps you must take to get to the point where you can ask for a loan from banks, angel investors or loved ones with confidence. You must prove to the lender that you have a viable business idea and if backed, they will receive a sizable return on investment (ROI).
Our consultants can help you to raise money by becoming 'finance ready' first. We will need to do some pre-funding\investment stage diagnostics, advising if loan or equity funding is a better option, considering all the due diligence requirements, etc. This also means that you may need to do some homework; by preparing a solid business plan, that fleshes out your ideas and demonstrate the research you have done on your competition. You will also need a clear marketing strategy amongst other things. We will walk you through and help with all these things to make it as least daunting as possible.
Business Goals and Mission Statement
You’ve decided to take the plunge and begin the rewarding journey of entrepreneurship. Self-employment or starting your own business is a noble calling - it’s not for everyone. Do you want to sell products, services or both? What are your business goals? Do you have a mission statement? If you don’t have answers to these questions, not to worry. RBSS will help you define your business goals and mission statement. This is a necessary and vital step in creating a business plan. When networking or attending a social event, when people ask you, ‘What do you do?’ you will have a clearly defined answer formulated.
Entrepreneurs often work in solitude without having anyone to bounce ideas off of. Our business consultants are here to help you flesh out your concepts. It’s one thing to repeat your objectives to yourself or even write them down on paper. When you communicate your thoughts out loud to someone who can give you feedback, a mundane scheme, can become revolutionary. You may be leaving money on the table by not considering other ways to diversifying your product or service offerings. By diversifying, you increase your market share. A larger market share is usually indicative of more revenue and what business owner doesn’t want more revenue?
Research Demographic and Competition
Who is your demographic? Where are they located? How will you reach them? What are their spending habits? These are just a few of the questions we will ask you so that you can eventually build a profitable enterprise. Many novice entrepreneurs make the mistake of asking these questions after they’ve had their soft opening. If the right questions are posed and answered before opening, businesses would last longer and be of greater good to society. Are there other businesses like yours in the area you plan to serve? Do these businesses serve the same target group? Our expert business consultants will help you pinpoint your digital and brick and mortar competition.
Perhaps your parents will lend you money without a business plan, but a bank won’t. An investor, whether a bank, angel or venture capitalist worth their salt will need to see a clearly defined and well-executed business plan before they will even consider your solution and give you access to finance. All of the research results and questions answered will go into your business plan. This plan will be clearly formatted with every ‘i’ dotted and every ‘t’ crossed, complete with graphics, tables and examples. If you’re not a finance person, we have a consultant on staff that can generate your financial statements. This business plan will be the key in your success toward acquiring financing.
What's stopping you? Call RBSS Consulting now to help you get your business finance ready.