Our topic this edition, is around financing your business.
The faster you grow, the more cash you need, and having the right knowledge about where to get that financing is critical.
Let’s start with the banks. Bank bashing has become a popular cocktail party topic for business owners. Sadly there are many myths out there, and often some very avoidable reasons why businesses get turned down for funding by the banks. In the interview below, veteran Karl Brandt from ANZ explains what you need to know, to maximise your chances of getting a YES!
Of course the banks aren’t the only source of funding, and sometimes there are better options out there. The three other articles below explore some of these in detail.
And if these don’t work out for you … well… there is always your Mum ????
Enjoy the read/listen and keep growing!
How to get the Bank to say YES!
In this 25 minute interview , banking veteran Karl Brandt from ANZ commercial lending navigates us through some of the myths and pitfalls associated with seeking bank funding.
Banks are just like any other investor, they have their risk profile and their rules. If you want them as a partner, you need to know what those rules and profiles are. Click here as Karl lays it out for you.
The Four Keys to Raising Capital
This 4 minute read outlines in simple terms, the issues to be sure you address when approaching any lending partner. You need to know these basics to stand a shot a getting a YES from anyone! Read here .
And if your business is in BC Canada, this article is a little more detailed and very specific to you.
Are Angels for you?
Angel investors are wealthy individuals who invest in businesses. They are typically less intense than venture capital money, but you still need to know how they tick. Here’s an article that gives you the cheat notes on understanding Angel Investors.
JV’s and Partnerships
Perhaps you need a strategic partner to help you grow or take advantage of an opportunity. Here’s the checklist for making these work. This article is a little more lengthy but the details are worth it if this is your path. Partnerships gone wrong are messy and unfortunately not uncommon. Do your homework!
Thought of the Month: