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# How to have lenders and investors eating out of your hand.

Picture yourself sitting at a desk, in a bank, as a small business loan officer. Your job is to make lots of good profitable loans .To do that you have to convince your superiors that a particular borrower is a good risk. You need to separate the good from the bad, pitch the good to the loan committee and the bad out the door. Get it right and bonuses and promotions are yours. Get it wrong and you won't be around too long. Oh, and one last thing - you don't have a crystal ball.
How do you tell the good loans from the bad? You poke and prod to find the answer to one central question - can I trust this borrower and this business to succeed. You want to find borrowers who are prepared, who know their business and who will make you look good to the loan committee. You're paid to say "yes" - it's how the bank makes money - but only to people who will be trustworthy, creditworthy, customers.
Now picture yourself walking in to that banker. You want him or her to know that you've done your homework, that you're prepared to win and that you'll look good to the bosses. You need to show the who, what, when, where, why and how of your project in a way that can be passed up the chain of command. There is one, and only one, sure way to do that. You need to bring a business plan.
A business plan is the report that's generated by asking a series of questions about your project or business. You describe the company, its products or services and the people who will make everything happen. You tell about the competition and how you will compete against them. Based on your vision, you provide a forecast of future profits and cash flow. In short, you create a blueprint for your success that makes it easy for the banker to say "yes!".
This isn't to say that a business plan is an instant answer to a loan or investment. Your project will eventually live or die on it's merits. The business plan only examines and describes your project's chances for success. But, by taking a good look at your project before you jump in (and ask others for money), you increase dramatically your chances for success and show that you are a careful and serious businessperson. When you hand a banker or investor the results of your homework (the business plan) they'll take you seriously and will be eating information out of your hand.
About Author:
Dave Miller is a business consultant with 27 years experience writing business plans. He is also the creator of FundablePlans business plan software.

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