Every business starter complains about the lack of project financing in order to implement their creative ideas. The problems are generally not the lack of brilliant concepts to start a business but often finding someone that believes in your ideas as much as you do, and enough to give you the necessary project funding.
It all begins with your ability to negotiate and to present your project in an impressive way to your potential investors and then to your clients once the project has been implemented. There are people looking for viable project financing. The key is figuring out how to present in way that will get the investors eager to believe in it. Two important things: your idea needs to be original, and you have to know how to present it.
If you do not know how much you need, it will be hard to find project financing:
Project financing is a matter of numbers. You need to be able to concretely say what you will need in order to set up your business and manufacture your product. Think about what your needs will be and put a name and number to what you will need to buy. Think about every detail. Will you need to patent you idea? Will you need to acquire a license? What do you think your cash flow will be? You can use your funds or get project funding from family or friends. If you do this, explain every item in your projections to your investors.
Borrowing for project funding:
You can use your own money and property to use as collateral to get a loan from a financial institution. You may as well be able to attract the attention of venture capitalists. There are many available options, try to think big but be realistic about what you need and what you can afford.
Put together a presentation for your investors:
Most funders will ask to see a Business Plan that includes a summary of your academic and professional background, your financial history and other specific documents that will create a strong profile.
In your Business Plan you will give relevant information regarding the nature of the business you will start, the target market, the customers, the current and future competitors, the market you are positioned in, and the strategy you intend to use to achieve your goals.
Always include your financial statement for the first 3 to 5 years and your implementation plans.
Wade Henderson – recognized Professional – 15 yrs in the Business Finance Field – strong reputation for getting the deal done.