Raising Finance For Your Business- The Complete System
March 6, 2010
Raising Finance For Your Business- The Complete System
Raising business finance can be one of the greatest challenges for a growing business as well as a new one. In both the UK and the USA, women in business and black owned businesses face particular challenges in accessing finance from their banks for all sorts of reasons. The most common reasons being lack of collateral security, followed by poor credit history. Other factors include lack of expertise to put together a credible and professional business plan, followed by lack of confidence in communicating the language of finance due to limited financial knowledge and skills. All of this does not bode well for aspiring entrepreneurs and inspite of the support provided by governmental bodies to increase access to finance for women, black businesses and disabled owned businesses, there is still a significant proportion of businesses and entrepreneurs whose business ideas remain a dream.
We understand your frustrations and we are here to help you. Our core financial solution products cover four elements:
• Education- We provide you with insider information on what successful businesses do to boost their success rate in securing finance. You learn about how the financial market works, what investors needs are, your relationship with money, different sources of finance and steps you can take immediately to increase your capacity to raise finance for your business, how to wow investors and how to write compelling business plans for finance, how to manage your finance, how to evaluate financial statements, how to produce budgets and how to interpret financial statements. You also attend all finance teleseminars free of charge whenever we run them.
• Research- We carry out a research for you, on where you can source grants and loans across the UK (we don’t cover outside UK at this point in time). At the end of three weeks or less we provide you with a detailed report that will provide you with clarity on the best options available for your business in sourcing loans or grants.
• Introduction to financiers- We introduce you to a number of expert financial investors who are regulated by the financial services authority and can provide you with finance from a minimum of $50,000 and more. To find out more, contact us today by email
• Business Plan For Finance- We provide you with light touch consultancy support or intensive consultancy support in putting together your business plan for accessing finance. We can also link you to a number of “Do It Yourself Systems”, if you prefer this option. If you need more information about our consultancy services contact us today by email
Benefit of each package:
• You get to learn strategies for attracting finance for your business, which when applied correctly will significantly improve your success rate in raising finance.
• You get to improve your confidence in communicating the language of finance as you learn about the different financial ratios used to make decisions.
• You get to save invaluable time researching information on where to source finance, from sites which very often do not reveal the information you are looking for. You get to spend your time marketing your services or improving business systems and processes critical for business success.
• You get to access detailed information on available government loans and grants across the UK, which will boost your chances to succeed in raising finance for your business.
• You get to be linked to our financial advisers and partners who are all regulated by the Financial Services Authority.
• You get to be linked to a number of invaluable” Do It Yourself tools” for the purpose of developing your business and financial plan. You also have the option of getting your business and financial plan reviewed by experts after completion.
The Complete Guide For Raising Business Finance
This guide reveals inside information and tips to help you raise business finance successfully from the banks, business angels and private investors. Whether your are a seasoned entrepreneur or a newbie you will find this guide an invaluable resource to support you in your preparation for raising finance, as well as presenting your business proposals with confidence to potential financiers.
• You get to learn what investors are looking for when faced with business proposals by you.
• You also learn the language of finance as well as the systems used to evaluate the strengths and weaknesses of your business proposal.
• You get to learn how to maximise your strengths and minimise your weaknesses and wow investors
• You also learn different options available for raising finance, particularly if you have a weak credit history.
• Finally you learn how to manage finance from investors and the bank as well as generate healthy profits to service your debts.
When you buy this product, it is important you note that it is made up of:
1. Interactive CD of over on hour long
2. Several eBooks providing you with a step by step instruction for building a system that will help you consistently raise finance successfully.
3. Additional resources that you could avail to strengthen the finance of your business.
Click here “The Complete Guide for Raising Finance” to purchase your own copy for only $200 from our website.
Finance for Women and Black Owned Businesses
This is a customised and comprehensive research report will provide you with details of all the loans and grants available for women and black owned businesses in the UK.
Whether you are in business or aspiring to start a new business, you can immediately take advantage of this product to take the sting out of your quest for business finance. Please allow three weeks for the production of your research report.
Tap Into These Resources TODAY And You Could Bring Extra Money Into Your Business Within 30 Days!
Click here “Finance for Women & Black Owned Businesses” to purchase your own copy for only $200 from our website.
Funding A Business – How To Get A YES (Part 3)
March 1, 2010
In this article, you are going to find three top tips on funding a business. You may have read my earlier articles and you will see that this is just a continuation of others.
Tip No 1
Make sure that you present yourself well, when you meet with investors and lenders. The way you dress and speak matters. Every step of the way you are being observed. Your presentation must be compelling. This is why we provide training seminars in financing your business to help you develop the right knowledge base so that you give yourself the added advantage when you are faced with potential investors and lenders.
Tip No 2
Think correctly and positively. Your mental life is one you have to take control over. One of the secret of success is the ability to take control of your mind and direct it to what you want to see happen in your life. If you want to raise finance, you can’t be talking about defeat and doubting your ability to do so successfully. I covered this aspect of “Mind Power” in my book “My Business Is My Business- Learn How to Earn a Fortune” and I have produced audio CDs on the subject of the power of the mind. Remember, you have something to offer the investor or lenders. Investors and lenders of money make their money through your ideas. They sell money for interest or dividend to those with great ideas that will generate profits. So the relationship is two ways. All you have to demonstrate is that your deal will help them realise their dreams. They have to see it clearly and so it is up to you to show them how it will work. Stay clear from fuzzy language and terminology that will only serve to distract from raising finance when faced with the opportunity to do so. Do not use jargons familiar in your industry but not outside your industry.
Tip No 3
Solicit the support of experts. You do not want to be “Jack of all trade and master of none”. Remember, the money you pay for expert services is not an expense; it is an investment in your business. Change your perception of money. This is one of the causes of success. Successful people always pay for good advice. The opposite is equally true for people who repeatedly fail in business and life generally.
You can take advantage of our new forum today and start interacting with Sheila. Whatis your burning question about finance. How can I help you. Post something on the forum and start a real discussion.
Sheila Elliott is a business start-up and development expert offering group and one to one coaching as well as financial consultancy and training sessions. She is the founder of Business Services Support Limited and the author of My Business Is My Business- Learn How To Earn A Fortune. For more information about our free articles visit, http://www.businessservicessupport.com
Funding A business- how to get a ‘YES’- Part 2
February 25, 2010
Most businesses owners and aspiring entrepreneurs are to find out how they can fund their business but they have limited understanding of the psychological dimension of investors and the banks. Funding a business, traditionally have been led by accountants who in their roles will normally handle financial matters in business. As a result entrepreneurs who are not financially savvy will tend to rely on finance experts to handle matters relating to funding their business. This is not a bad thing but it is always wise to learn a bit about money matters because it is the life blood of a business. Get this wrong and you will be doomed. In this article I am going to share two top tips you need to know about funding your business. I am assuming you need third party funding which can take the form of grants, business loans or equity finance. To find out about the pros and cons of the different financing options, you simply need to download a free copy of my book where you will get as much information on this subject. For now, lets turn our attention to my tips.
Tip No 1. You need a business plan and you need one that is robust with financial forecasts included in the form of profit and loss, balance sheet and cashflow. Your financial forecast should have key financial indicators which accountants call ratio analysis. I have seen business plans that only consist of financial figures. This is not a business plan it is merely a financial plan. Do not make the same mistake. Your business plan must provide details about your business, your vision, mission and strategic objectives. It must also provide details about your target market, marketing and sales strategy. You want to ensure the plan is compelling and by compelling I mean really persuasive and influential. My company helps entrepreneurs put together compelling business plan.
Tip No 2 . You certainly want to be able to explain your business plan to potential lenders and investors confidently. If you can’t do this, you will rapidly lose their trust. Lenders and investors want to know you have a team of experts in the business, that will support the delivery of the plan (this does not mean they are your staff) but equally if you own the business, they expect that you should be able to explain you business plan to them with confidence. You may call upon the professional accountant as many do to explain the figures at formal meetings. However, as the owner of the business, if you can explain the figures, you will even grasp their attention very quickly. Presenting to investors and lenders is all about influencing other people to do what you want them to do. Don’t forget this salient point. Do all you can to influence lenders or investors to part with their money by taking the necessary steps to be well informed about every aspects of your business plan. Stay clear from cheap plans that will ultimately lack in quality and don’t achieve your goals. Whether you are in business or starting a business, there are some expenses you will have to incur and if you fail to do so, your business dies. Sorry I am being blatantly honest with you as I want you to succeed.
Sheila Elliott is a business start-up and development expert offering group and one to one coaching as well as financial consultancy and training sessions. She is the founder of Business Services Support Limited and the author of My Business Is My Business- Learn How To Earn A Fortune. For more information about are free articles visit, http://www.businessservicessupport.com
Funding A business- how to get a ‘YES’
February 25, 2010
This is part one of my tips for funding a business successfully. Having worked for so many years with businesses and aspiring entrepreneurs seeking finance, it has come to my attention that there is one common problem that many find difficult to manage when faced with the subject of raising finance for business. Many are of the view that they should beg for the money when banks and investors are fully aware that their financial wealth is not dependent on the amount of cash hoarded in their bank account but rather the quality of investment they make with their money.
The bottom line is, investors and banks do not make money keeping it in their safe. They make money when it is invested in the right soil with high potential for growth in positive cash flow and profit. This means that banks and investors are perpetually seeking opportunities to invest in the form of business loans, equity or a blend of both. The question now is, what should an entrepreneur do to lay their hands on this cash?
The ability to influence and persuade lenders or investors to follow your vision calls for a respectable amount of insight and capacity to press the right emotional triggers during social intercourse with them, whether on a frequent basis or not. Wrong use of language or expressions can do a great deal of damage to a business trying to raise finance. It is therefore important to seek the help and support of experience and qualified advisors who frequently interact in the lingo of investors and the banks. To do otherwise will only expose you and your business to the risk of not securing the much needed finance for your business.
One of the biggest myths that I have come across many times, is the DIY mentality in the areas of writing a solid business plan for business start-up, improvement or expansion. Some entrepreneurs will say that they have read books and that qualifies them to right a solid plan. The first time reality hit them, is when they approached a potential investor or bank for finance, and then get quiz on their business plans, only to find that there are so many holes that have not been addressed. It is always a shame when this happens.
So here are some tips to help you raise finance for your business.
1. Be clear about the amount of finance you are looking for. There is nothing worst than being ambivalent about how much you need when faced with a potential investor or lender.
2. Be clear about what you want the money for. No wise investor or lender will hand over their cash when you are not sure what you want the money for. It is always advisable you have a clear breakdown of how you expect to use the money, with clear estimates of costs of resources you plan to purchase. It might be that your cost estimate may change with time, as inflation is outside the control of your business. Be ready to amend your estimates in your business plan if it changes before you meet with a potential investor.
Now watch out for part 2 where I will cover my remaining five top tips.
Sheila Elliott is a business start-up and development expert offering group and one to one coaching as well as financial consultancy and training sessions. She is the founder of Business Services Support Limited and the author of My Business Is My Business- Learn How To Earn A Fortune. For more information about are free articles visit, http://www.businessservicessupport.com and http://www.sheilaelliott.com
Funding A business- how to get a ‘YES’
Most businesses owners and aspiring entrepreneurs are to find out how they can fund their business but they have limited understanding of the psychological dimension of investors and the banks. Funding a business, traditionally have been led by accountants who in their roles will normally handle financial matters in business. As a result entrepreneurs who are not financially savvy will tend to rely on finance experts to handle matters relating to funding their business. This is not a bad thing but it is always wise to learn a bit about money matters because it is the life blood of a business. Get this wrong and you will be doomed. In this article I am going to share two top tips you need to know about funding your business. I am assuming you need third party funding which can take the form of grants, business loans or equity finance. To find out about the pros and cons of the different financing options, you simply need to download a free copy of my book where you will get as much information on this subject. For now, lets turn our attention to my tips.
Tip No 1. You need a business plan and you need one that is robust with financial forecasts included in the form of profit and loss, balance sheet and cashflow. Your financial forecast should have key financial indicators which accountants call ratio analysis. I have seen business plans that only consist of financial figures. This is not a business plan it is merely a financial plan. Do not make the same mistake. Your business plan must provide details about your business, your vision, mission and strategic objectives. It must also provide details about your target market, marketing and sales strategy. You want to ensure the plan is compelling and by compelling I mean really persuasive and influential. My company helps entrepreneurs put together compelling business plan.
Tip No 2 . You certainly want to be able to explain your business plan to potential lenders and investors confidently. If you can’t do this, you will rapidly lose their trust. Lenders and investors want to know you have a team of experts in the business, that will support the delivery of the plan (this does not mean they are your staff) but equally if you own the business, they expect that you should be able to explain you business plan to them with confidence. You may call upon the professional accountant as many do to explain the figures at formal meetings. However, as the owner of the business, if you can explain the figures, you will even grasp their attention very quickly. Presenting to investors and lenders is all about influencing other people to do what you want them to do. Don’t forget this salient point. Do all you can to influence lenders or investors to part with their money by taking the necessary steps to be well informed about every aspects of your business plan. Stay clear from cheap plans that will ultimately lack in quality and don’t achieve your goals. Whether you are in business or starting a business, there are some expenses you will have to incur and if you fail to do so, your business dies. Sorry I am being blatantly honest with you as I want you to succeed.
Sheila Elliott is a business start-up and development expert offering group and one to one coaching as well as financial consultancy and training sessions. She is the founder of Business Services Support Limited and the author of My Business Is My Business- Learn How To Earn A Fortune. For more information about are free articles visit, http://www.businessservicessupport.com and http://www.sheilaelliott.com
In this article, you are going to find three top tips on funding a business. You may have read my earlier articles and you will see that this is just a continuation of others.
Tip No 1
Make sure that you present yourself well, when you meet with investors and lenders. The way you dress and speak matters. Every step of the way you are being observed. Your presentation must be compelling. This is why we provide training seminars in financing your business to help you develop the right knowledge base so that you give yourself the added advantage when you are faced with potential investors and lenders.
Tip No 2
Think correctly and positively. Your mental life is one you have to take control over. One of the secret of success is the ability to take control of your mind and direct it to what you want to see happen in your life. If you want to raise finance, you can’t be talking about defeat and doubting your ability to do so successfully. I covered this aspect of “Mind Power” in my book “My Business Is My Business- Learn How to Earn a Fortune” and I have produced audio CDs on the subject of the power of the mind. Remember, you have something to offer the investor or lenders. Investors and lenders of money make their money through your ideas. They sell money for interest or dividend to those with great ideas that will generate profits. So the relationship is two ways. All you have to demonstrate is that your deal will help them realise their dreams. They have to see it clearly and so it is up to you to show them how it will work. Stay clear from fuzzy language and terminology that will only serve to distract from raising finance when faced with the opportunity to do so. Do not use jargons familiar in your industry but not outside your industry.
Tip No 3
Solicit the support of experts. You do not want to be “Jack of all trade and master of none”. Remember, the money you pay for expert services is not an expense; it is an investment in your business. Change your perception of money. This is one of the causes of success. Successful people always pay for good advice. The opposite is equally true for people who repeatedly fail in business and life generally.
Sheila Elliott is a business start-up and development expert offering group and one to one coaching as well as financial consultancy and training sessions. She is the founder of Business Services Support Limited and the author of My Business Is My Business- Learn How To Earn A Fortune. For more information about are free articles visit, http://www.businessservicessupport.com
New Fund Gives Early-Stage Firms An Advantage
January 27, 2010
New Fund Gives Early-Stage Firms An Advantage
Last month saw the launch of a new £8 million equity fund to help early-stage West Midlands SMEs reach their potential.
Provided by Advantage West Midlands with the backing of European Regional Development Fund cash, the Early Advantage Fund can offer match funded equity investment worth up to £250,000.
An initial investment worth up to £125,000 can be backed with an additional £125,000 during subsequent funding rounds, with all funds received from the scheme needing to be matched by other private investors.
The scheme will channel support towards early-stage SMEs and high growth companies that have the potential to offer a return on any investment within a 3-7 year timeframe.
Launching the fund last month, Mick Lavety, chief executive of AWM, claimed the scheme would ensure the region’s SMEs would have “access to the funds they need to start-up and grow”.
He said:
“It builds on the experience of the Advantage Early Growth Fund, which ended its initial investment period earlier this year having invested a total of £8.8 million in over 60 businesses, leveraging nearly £23 million of finance from other sources.”
Dr Andrew Muir, revealed:
“I’m sure this fund will prove popular with SMEs. In fact word is out and already there have been a number of expressions of interest in the Early Advantage Fund, with the first investment likely to be approved in the near future.
To find out more contact visit our website and read about how you can get more information about equity funds and other forms of finance available for businesses in all regions within the UK. Visit our website http://www.businessservicessupport.com/finance.php
New Grants To Recruit Young Apprentices £2500
Employers can take advantage of a new short-term scheme offering them a £2,500 grant to take on an unemployed young person.
Until the end of March, companies can claim the funding to recruit a 16 or 17 year-old apprentice.
Young people have been hit hard during the economic downturn, with 16 and 17 year-olds not in full-time education seeing the largest absolute fall in their employment rate since the start of the recession.
However, around 70,000 young people started an apprenticeship during the past year, and the AGE 16 and 17 programme now aims to provide similar opportunities for another 5,000 individuals.
Funding will be targeted at companies who are not currently in a financial position to recruit an apprentice.
A spokesperson from the funding body said :
“We recognise the particular issues faced by young people in the current economic climate and we want to support them and ensure that we are training a new generation for economic recovery.
“We particularly want to support small and medium-sized employers who are interested in employing an apprentice for the first time, or who want to employ an additional apprentice over their traditional level of recruitment.”
The incentive will be available until the end of March.
To find out more contact visit our website and read about how you can get more information about grants finance and other forms of finance available for businesses in all regions within the UK. Visit our website http://www.businessservicessupport.com/finance.php
Deadline Approaching For Biomass Fund
Time is running out for Scottish businesses to secure funding to help them install energy efficient heating systems.
The deadline to apply for support from the third round of the Scottish Biomass Heat Scheme is 12 February.
Through the fund, SMEs can grab grants worth up to £100,000 to cover a maximum of 50% of the capital costs of installing new biomass heating systems.
Launched in October 2008, the programme is aiming to increase small business competitiveness, create a growing market for biomass equipment and services, cut carbon emissions, and contribute towards meeting the Scottish Government’s target of securing 11% of the country’s energy from renewable sources by 2020.
Launching the latest funding window back in November, Energy Minister Jim Mather told the Scottish Parliament:
“We are particularly keen to receive applications for district heating schemes. At the same time as launching the third round of the scheme, we want to establish what the demand is for funding for larger-scale projects for district heating schemes and we seek expressions of interest.Applications in round three must be made by 12 February 2010, and will be assessed against a range of criteria, such as value for money, technical credibility and environmental impact.
Successful bidders will be revealed during April.
To find out more contact visit our website and read about how you can get more information about equity funds and other forms of finance available for businesses in all regions within the UK. Visit our website http://www.businessservicessupport.com/finance.php
Government Guarantee Scheme Boosting Business
A recession relief scheme introduced by the Government has provided more than half a billion pounds worth of loans to UK businesses.
Research carried out for the Department of Business, Innovation and Skills revealed that 5,840 firms had drawn down more than £580 million in loans from the Enterprise Finance Guarantee Scheme.
The programme was introduced in January 2009 and offers companies with an annual turnover in excess of £25 million the opportunity to borrow up to £1 million over a ten-year period to boost their cash flow, create or safeguard jobs, and invest in new equipment.
Trade, Investment and Small Business Minister Lord Davies said:
“These impressive results show the Government is providing real help to businesses when they need it, helping to secure jobs and give businesses the capital they need to invest and grow.
“The Enterprise Finance Guarantee has been welcomed by business and, following its recent extension, it will continue to play a vital role in encouraging enterprise and investment and driving productivity and growth throughout the UK economy.”
In his Pre-Budget Report, Chancellor Alistair Darling announced an extra £500 million would be made available to extend the programme for a further year.
The scheme will now run until April 2011, with Chief Secretary to the Treasury Liam Byrne claiming:
“By extending the Enterprise Finance Guarantee for another twelve months in the Pre-Budget Report, the Chancellor demonstrated the Government’s determination to continue supporting businesses. Withdrawing that support would put the recovery at risk.”
To find out more contact visit our website and read about how you can get more information about equity funds and other forms of finance available for businesses in all regions within the UK. Visit our website http://www.businessservicessupport.com/finance.php
Startup Finance For North East SMEs
A new fund has been launched to ensure start-up firms in the North East of England are equipped for success.
The £4.63 million Regional Start-Up Capital Finance Grant programme will offer funding ranging between £1,000 and £3,000 so that SMEs can buy new machinery, office equipment and ICT hardware and software.
Funding is available to North East-based businesses that meet the definition of a small to medium-sized enterprise (for example employ less than 250 staff) and have been trading for no longer than 12 months.
Grants will cover up to 50% of the total eligible costs and will enable up-and-coming entrepreneurs to overcome some of the financial barriers they face as they try to grow their business.
Part-financed through the European Regional Development Fund and One North East, the scheme falls under the Intensive Start-Up Support strand of the Government’s Solutions for Business package. It is delivered by the North East England Investment Centre (NEEIC).
Over the next two years it is anticipated that the fund will support 700 businesses, helping to create 100 new jobs and safeguard a more than 300 others.
NEEIC operations manager Irene Earle said:
“New businesses in their first trading year will have access to direct financial support to invest in small scale capital equipment and plant. That includes the purchase of manufacturing machinery, essential office equipment, ICT capital equipment and specialist software.”
For further information about how to access this fund contact us or visit our website where you will find more information about customised reports to source finance for your business. To find out more contact visit our website and read about how you can get more information about equity funds and other forms of finance available for businesses in all regions within the UK. Visit our website http://www.businessservicessupport.com/finance.php
The secrets of successful businesses
December 2, 2008
Minority owned businesses in the UK are on the rise with recent statistics showing women playing a significant role in the business community. In my local area (London Borough of Greenwich), one cannot help but to notice a steady increase in the number of ethnic businesses springing up on the high street and this trend is expected to continue into the future.
Whilst this trend is a step in the right direction, new businesses, and to a large extent existing ones, will need to be sensitive to the challenges of building a successful business. Business support services can play a significant role in the nurturing and development stages of businesses. Equally important are opportunities for sharing best practices.
This article reveals what well known and respected business veterans say about the sources of their success. I am sure we can all learn from them.
Successful businesses take their customers’ perception about their products and services very seriously. They generally focus on quality, innovation and profitability. Under promising and over delivering is a guided principle that underpins their ethos. In addition they understand that their business is as good as the people who work for them. Consequently, cultivating a culture that values, respects and develops staff is a common strategy employed by successful businesses to gain the support and commitment of their staff. As a result, they are able to stem the cancer of high staff turnover that is prevalent in unsuccessful businesses.
It is a well-established fact that people will make or break a business and successful businesses understand this philosophy all too well. Successful businesses have retention strategies, which could take on various forms. One such strategy includes involving their staff in decision making through focus groups aimed at innovating, creating new products and encouraging a strong listening culture right across the organisation. In the final analysis, one cannot underplay the importance of strong leadership, competent managers and staff, integrity and honesty in the formula for business success.
Sheila Elliott is the managing director of Business Services Support Limited
http://www.businessservicessupport.com
email sheila@businessservicessupport.com
Getting the best from your staff
December 2, 2008
Many businesses purport that their greatest asset is their staff. On the other side many claim that their greatest headache is their staff. Whatever camp you belong to, be rest assured that people are vital to every business no matter what the technocrats may like us to believe. It is true that we live in the age of technological advancement and evolution with many businesses queuing to take advantage of the next automated system that comes into the market with a promised tag to streamline business processes, improve quality of services and products, deliver added value to customers and, to top it all, increase profitability for investors. Your staff are invaluable assets to your business but sadly there are very few managers that are adequately skilled to deal with staffing issues efficiently and effectively. Some even believe that staff are assets that must be controlled, until they are threatened with a resignation or strike action.
This article seeks to provide information on strategies successful managers use to get the best out of their staff. It is hoped that readers will benefit from this article and ensure their businesses improve their approach to managing staff in the future.
To start of with, you need to know that people are different in many respect and successful managers generally strive to know their people well enough to ensure they receive the necessary support to effectively undertake their jobs within the standards set by the business. Some of the differences in people include their learning styles, which can sometimes miss the radar of managers. You will be surprised to know that people take in information differently, with some learning through reading books, others through observations and reflection and others through practical hands on approach. Equally, some people are thinkers and learn best using their auditory senses, others are more visionary and learn better through images whereas others are kinaesthetic and learn best through their emotions. In the light of all of these differences, successful managers generally provide support using mediums that are most appropriate to the learning style of their staff, as opposed to using as “One-Size-Fit-All” Approach.
Successful managers are acutely aware that it is not sufficient for their staff to know the overall objectives of the team, as well as the roles and responsibilities of individuals in the team. They take steps to communicate clearly to their staff and make time to deal with matters affecting their wellbeing. Whilst doing all of this, they simultaneously ensure that the overall objectives and goals of the business are kept well in focus. Getting the best from staff is a balancing act between the managing the needs of the business and the needs of staff. Both needs should be given careful attention to avoid management paralysis, staff apathy and demotivation. This brings me to yet another point.
People are special types of resources in a business; they provide services to the business and must be treated with respect and value. Managers who consistently get the best out of their staff do not demean their staff and certainly avoid situations that will lead to humiliating staff. Remember this simple formula:
“Getting the best from your staff = motivating staff + providing them with skills and knowledge required to do the job effectively”.
To motivate staff and train them effectively, a manager must know their staff well enough to ensure their proposal for performance improvement and motivation strategy is appropriate.
Over the next few weeks, we will be giving free consultation advice to businesses that need help in financial and human resource management. If you would like to take advantage of this do send me an email. For advice and support on this subject, contact sheila@businessservicessupport.com
Sheila Elliott is an expert in business and personal development strategies. She is the founder of Business Services Support Limited and the author of My Business Is My Business- Learn How To Earn A Fortune. For more information about are free articles visit, http://www.businessservicessupport.com and http://www.sheilaelliott.com
A Profitable Bankrupt Business
December 2, 2008
Some of you may be asking if it is possible for a business to be profitable and bankrupt at the same time. Well the simple answer to this question is “Yes it is”. A business can be profitable and be cash-strapped all at the same time. In practice, there are many businesses that precariously operate in this way. Some of them are under the misguided belief that their business is financially healthy just because they are generating strong profits. The connection between profit and cash is hardly made by such businesses until their bank informs them that their cheques can no longer be paid due to lack of cash.
Understanding the rudimentary principles of interpreting and evaluating financial statements accurately can help businesses identify whether their business is profitable and liquid. In reality is cash is king, whereas profit is fantasy. A business with no cash will soon become insolvent regardless of whether it is profitable or not. In this article we will explore strategies businesses can implement to ensure they generate healthy cash and profits at the same time.
The first strategy is to set up a clear policy on credit sales. Such strategy can include approving customers’ credit lines based on their credit ratings. To do this you must have a system in place to determine customers’ credit worthiness before approving credit lines. The next stage is to determine how much credit period to extend to customers. In determining the credit period, it is always advisable to find out what the normal practice in the industry is (e.g. 15 days, 30 days or more) and what credit period you can expect from your suppliers and bankers to cushion you over this period. All too often, small businesses in particular, give very long credit periods to large businesses only to run into cash flow problems owing to its inability to make timely collections from these customers. One way to get around this problem is to stipulate the payment terms clearly on the invoice before issuing it to the customer, as well as to charge interest on outstanding invoices after the approved credit period. But remember, the policy of charging interest on outstanding invoices after the credit period must be clearly communicated before it is enforced. Failure to communicate terms in advance could result in damaging the business’ relationship with its customers. Most successful businesses operate this policy and as a business owner you can do the same.
Other strategies you can use include using factoring agents, insuring against the risks of bad debts, negotiating competitive credit terms with suppliers and giving discounts to customers for prompt payments. For advice and support on this subject, contact sheila@businessservicessupport.com
Sheila Elliott is an expert in business and personal development strategies. She is the founder of Business Services Support Limited and the author of My Business Is My Business- Learn How To Earn A Fortune. For more information about are free articles visit, http://www.businessservicessupport.com and http://www.sheilaelliott.com
Unlocking the gem in business planning
December 2, 2008
Why do some businesses believe they have no need for a business plan until they run into financial difficulties, whilst others spend colossal sums of money preparing a business plan exclusively for their shelves. These are questions I have asked very often as I work with SMEs, who consistently fall fowl of this practice. It may appear that the benefits of business planning are not quite understood by these businesses and hopefully this article will help shed some light on the subject.
From a practical perspective, it is inconceivable to find any reliable products in the market including our homes that was developed without any planning time set aside for the determination of the design, development and implementation process. One cannot deny that the process of planning can be time consuming and tedious, particularly as the benefits of the process is not immediate and often far from sight. However, lurked within the planning process is the opportunity to discover flaws in original ideas which in return provides opportunities to improve them?
So what are the benefits that can be derived from business planning and how can a business maximise their returns from the process. First thing first, business planning is a management tool that aids the delivery of strategic objectives. The strategic objectives set out what a business want to do and where. A business plan simply helps map the path to achieve corporate objectives. But it must be stated that just because an organisation prepares a business plan does not automatically mean it will maximise the potential benefits from the planning process. Getting the best results from business planning demands the management of the organisation possessing the right level of skills and competencies required to deliver a business plan as well as the motivation to do so. A business plan can look great on paper but unless someone rolls up their sleeves and get on with the work to bring the plan into reality, it will ultimately die with the business.
Therefore when an organisation prepares a business plan that is supported by a competent and motivated management team, as well as a competent workforce, here are some of the gems that can materialise:
- Effective alignment of a business’ resources in markets that draw on their strengths
- Effective development of marketing strategies born out of critical evaluation of operating market
- Better resource planning for effective delivery of corporate goals and objectives.
For more information on this topic, contact sheila@businessservicessupport.com
Sheila Elliott is an expert in business and personal development strategies. She is the founder of Business Services Support Limited and the author of My Business Is My Business- Learn How To Earn A Fortune. For more information about are free articles visit, http://www.businessservicessupport.com and http://www.sheilaelliott.com
Access Finance For Your Business – Insider Information Revealed
October 26, 2008
Learn how to easily raise finance for your
business – use insider secrets known only by few consultants and professionals. As a Free Bonus, get immediate access to a list of grant funding bodies for business start up, business development and growth.
Dear Friends,
If you are like me there is nothing you enjoy more than to get quick and effective solutions to every challenge you are face with. You want to start or grow your business and the last thing you want as a stumbling block is money. You want to quickly find money to start your own business or grow your business massively doing what you do best and making your customers happy and satisfied. Imagine, finding a way of raising finance quickly and easily. Imagine sitting down with your business partner or consultant smiling over your business plan and financial forecast, in a complete relax mood knowing that you now have the capital you need to start a new business or develop and grow a an existing successful business. Imagine, getting a phone call from your bank, business angel or financial investors informing you that your application for finance has been granted. You suddenly realised that the ball is now in your court and that it is now up to you to deliver the services and products your customers deserve and are willing to pay for.
But have you seen the statistics of entrepreneurs that are finding it difficult to raise finance for their business. Have you seen the number of businesses that are failing just because they lack the capital to grow their business successfully?
Let me share with you the findings of a recent survey carried out by the London Development Agency in the UK . You can request the report directly from the LDA yourself. You will be amazed how many entrepreneurs in certain communities find it hard to raise finance. According to an independent research in the UK , business growth amongst women and the black and ethnic minority communities is soaring significantly. You would have thought this is good news until you get to the middle of the report. Well, despite this significant business startup growth, a significant proportion of women and black entrepreneurs are finding it difficult to raise finance to start and grow a successful business. There are many reasons for this predicament, aside what many would like to put down as prejudice by the financial institutions. This situation is no different in other parts of Europe, USA and elsewhere in the developing world. This situation is a prevailing problem and despite the millions of loan investment by government organisations particularly targeted at helping women in business and black business owners, the problem continues to exist.
Does this mean white male entrepreneurs or businesses are not having problems raising finance? Well, some of them are but the problem is more prevalent among women and black owned businesses. Guys, before you start feeling uncomfortable, please read on as you also can benefit from this message.
It is not enough for entrepreneurs and small business owners to give up!
More and more entrepreneurs and small business owners are taking advantage of high quality information that will enable them to raise finance successfully to grow their business. More and more aspiring entrepreneurs are using our information services and products to guide them through the challenge of raising finance.
Sadly, there are those entrepreneurs and small business owners who continue to violate the rules for raising finance successfully and they do so at their own risk…..
Did you know that when you approach financial investors with:
· Sub-standard business plans
· Poor marketing strategies
· Unrealistic financial forecasts
· Bad credit history
· Poor understanding of the language of finance
You are walking into a lion’s den and you will be lucky to escape alive? Do you know that despite the fact that government grants exist to assist business start up and business growth, there are strict criteria for awarding the grants and loans, no matter what the politicians and consultants may want you to believe? Do you know that many banks have policies not to lend money to business start up even though they will be willing to open a bank accounts for you and sell you business packages you don’t need, particularly if you are just setting up your business.
By now you are wondering, why should I believe anything you are saying? Simple, because I am a trusted and well respected consultant, trainer and coach who have worked with hundreds of business owners and aspiring entrepreneurs in different areas including supporting them to raise finance. I am a professional qualified accountant with over 18years experience working with businesses of all types and supporting them to achieve sustainable development and growth.
I have personally worked in positions where I influenced grant money given to businesses and the sums involved run into millions of pound sterling. Since my business started, I have helped aspiring entrepreneurs raise finance for business start up and growth. I have success stories behind my name and there are areas were I have not been so successful but as is customary with my approach I have always gone back and learn the lessons of those events so that myself and my team can serve our clients better with our new found wisdom. Take a look at our testimonial page to find out more about me and my team.
You will be glad to know that I have personally interviewed many bank officials responsible for lending money to the business community- HSBC, Barclays, Halifax, TSB Lloyds, NATWEST ……….. and more. I have done presentation about business finance alongside bank officials. I know the criteria they use to decide who to finance and who not to finance. I have also been involved in government loans to business owners and aspiring entrepreneurs and so I know what they are looking for and the decision criteria they use to approve or not approve your application for loans.
Secret Expose- What Financial Investors Do Not Want You To Know
You are only one step away to finding out strategies for raising finance successfully for your business. You are about to learn the criteria used by financial investors to determine whether to invest in your business in the form of loan, shares and grant. You are about to find out how financial investors determine the price point to lend or invest money into your business. You are about to learn the strategies for overcoming bad credit history and if you do have one already you are about to learn how to influence financial investors to invest in your business despite your past credit history. You are about to learn about creative financing strategies that will stimulate your motivation to start and grow a successful business. But before I share all of this with you, let me tell you some of the reasons why a bank will say “NO” to a loan application.
By the way you can read about this in my book which you will find at the end of this page.
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Why Banks Decline Loan Application
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Armed with all my insider knowledge and experience about the world of raising finance, I set out to work for you, so that you will be better prepared to raise finance successfully for your business projects. Whether you are starting a new business or growing an existing one you are going to benefit from to resources that we have put together for you.
My work in the financial industry paid off!
Well, it took me months to compile and test my system for raising finance successfully – as I uncovered what does not work I had to make adjustments to the contents so that you get what works all the time. In fact, I now only do work with businesses that meet the minimum criteria as it is not in my company’s long term interest to violate the rules. Inspite of all the challenges I kept testing and tweaking — throwing out the bad information and working on the good ones — until, before I knew it, I had developed a fabulous 1.5hours interactive CD that takes you step by step through all the “Ins” and “Outs” of sourcing and raising finance for your business.
Finally, I was satisfied that I had created the best and most extensive collection of resources that will help any aspiring entrepreneur and existing business owner raise finance successfully for as little as £25 or less depending on the exchange rate.
I was thrilled when I accompanied one of my clients to the Annual General Meeting of Croydon Business. Croydon Business lends finance to businesses in Croydon. In her statement, she stated that she would not have been successful in raising the loan had it not been for my support. I know that anyone who applies the strategies and information shared in this resource will consistently raise finance.
It was the same resource I used to help Sam Bissonnette, when she started her business in 2005. It is the same information many businesses I have been involved with used to raise loans and grants from public sector organisations. You are now about to read her testimonial.
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Read What Just a Couple of Business Services Support Limited has provided my business with consultancy services in business and financial planning as well as most aspects of financial management systems. I have always found the business professional in their approach and I am absolutely satisfied with the services received to date. Samantha Bissonette- Manager of Happy Days Afterschool Club
I was lucky enough to have been given the contact details of Sheila Elliott for assistance with my business. I can honestly say that working with Sheila has been a great help to my business. I found her to be efficient and extremely supportive of my vision. It was Sheila’s encouragement and support that has helped me to develop my business so far. I would not hesitate to recommend anyone to her in the future. Natasha Dennis AIT-Business Owner
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I’ve put together a step by step guide of strategies and tricks you need to employ to raise finance successfully.
When you are ready to find money to start or grow your own business, you want to access my resources very quickly so that you do not waste time searching and getting nowhere with your financial requirement. This is what you are going to get from my resource.
- How financial investors make money and what motivate them to lend money to business.
- What are the different sources of finance and what are the pros and cons for using them
- What are the criteria used by financial investors, including the banks to make lending decisions and what this means for you.
- How to present your business case for finance so that you can motivate investors to invest or lend you their money very quickly.
- What is the common language amongst all financial investors and how you can use the language to impress them to part with their money. Concepts such as Loan to Value, EBITDA Cover and more…
- How to develop a healthy relationship with money using strategies implemented by financially successful individuals.
- Where to source for government loan and free grants.
The benefits of my this resource:
Yes you need to know what the benefits of the resource are for you and your business. Let me share them with you now.
- Start and grow a successful business – this is obvious
- Walk confidently to the office of an investor and banks to present your business case in the way they want to hear it.
- Positively influence investor to part quickly with their money
- Increase your capacity to achieve financial independent quickly
· Safeguard your job and those of your staff that work for you as your business continues to grow.
And if that’s not enough…
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I’ll also send you these 2
Bonus #1: Cashflow Templates To Put Together Your Financial Projections You will get a copy of my template that I use to put together financial projections for clients. This template comes in the form of excel and will save you considerable time and effort in the future, when putting together your financial projections. Bonus #2: Information on where you can go to find out all the grants that are available in the UK that your business may be entitled to. We will send you the information by email.
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PLUS — I’ll Even Take All The Risk Myself! I already know that the information is effective because I’ve made AND tested them all myself. I have proven track record of people who have used the resource successfully and I know they will work for you just as they work for others. That’s why I feel totally confident in offering you a guarantee that puts ALL of the risk on me! Order my Interactive CD on Strategies For Attracting Finance For Your Business today. If, at any time during the next three months, you decide that the information I’ve given to you isn’t worth at least triple what you paid for it, I’ll simply refund all of your money! No hassles and no questions asked. Plus, all TWO of my super bonuses are yours to keep, no matter what you decide. |
Wouldn’t you agree that it makes a lot more sense to learn how to raise finance for your business effectively so that you do not waste any more time and resources with financial institutions in the future?
Let me remind you again about the benefits of the Interactive CD on Strategies For Attracting Finance For Your Business:
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Start and grow a successful business – this is obvious
- Walk confidently to the office of an investor and banks to present your business case in the way they want to hear it.
- Positively influence investor to part quickly with their money
- Increase your capacity to achieve financial independent quickly
· Safeguard your job and those of your staff that work for you as your business continues to grow.
Now Grab A copy of your CD Today!
For a copy of “My Business Is My Business” click here to ORDER Now
PS. Remember, you’ve got nothing to lose by giving “The Strategies For Raising Finance For Your Business Successfully”. If you’re not absolutely thrilled with this product over the next three months, I’ll happily give you your money back — and you can keep all the free bonuses!
Visit our products pages and find out more about how we can help your business develop and grow.
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