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YOU NEED A NEW BUSINESS PLAN
DO YOU WANT TO ELIMINATE THE WORRY AND STRESS OF GETTING A PROPER BUSINESS PLAN COMPLETED ?
LET US DELIVER IN A PROMPT AND VERY COST EFFECTIVE MANNER A PLAN THAT INCLUDES ALL THE COMPONENTS OF A PLAN THAT YOU NEED
Information on business plans in Canada. Here's why banks and other commercial lenders want a plan
Lenders view the business plan as having forced the business owner or entrepreneur to look carefully in a critical way into their business project . They feel that if the company needs to grow or be successful such a document will guide the business person to their goals .
Ultimately those the business plan is a concise document which in effect communicates the business persons ideas to the lender .
In theory the business plan should identify areas of weakness or strength . If truth were to be known of course business plans tend to accentuate the positive . The writer of this article has a favorite saying - ' I never met a pro forma financial I didn't like '!
More about that last comment later , but suffice to say that in theory a good business plan geared towards financing should balance both the positive and negative aspects of the business and its financials . A solid business plan geared towards a lender will show you have ways of solving some of the business challenges raised in the business model and it's proposed financing .
We all know that stat's - half of new businesses fail within the first two years, 90 % within the next ten years . Why is that the case . Business guru's tell us its lack of planning . That is precisely why a business plan geared towards lending and the financials should be used as a critical follow up in the business . It should not be stored away ! As we all have learned, ' tuition is extremely high in the school of experience ' !
Most importantly though people that don't know you, or might not know your business model use a properly created plan to evaluate your business and lend you funds . The ' business plan ' in effect is really a financing proposal . That's how we look at it in our firm .
Let us remember how a lender , who you in many cases don't know, thinks. First of all he or she is hoping the information you have provided is true . Remember also that the lender works for someone, and they must communicate your idea to an underwriter of investment committee . If you haven't met the lender, trust me you definitely have not met the underwriter or investment committee.
Some of us also might think that we are the only business plan the lender is reviewing . That is not the case, our plan might be among 10-20 others in an given lending environment . And finally, people have biases - they will benchmark your own projections against their past experiences . If your business plan and financials make them think of Microsoft and Rim they will dig into the plan , if visions of Nortel come to mind that won't be the case !
Therefore business owners should put forth their plan on the basis that it will be ' attacked' by the lender , so the business owner must counter with ' real ' upside potential . The lender must genuinely feel some sort of enthusiasm about the business .
The biggest secret of business plans , and yes , we are revealing it here, is that they generally are not always read in totality by the lender . The real world dictates they are given a 5 minute read, and more careful emphasis is generally only placed on the financials . The owner should never think that either quantity or finesse in fonts and graphs will gain the funding they require.
In summary, we do not infer that a plan is in fact not required for a lender or financing, in fact a business owner or entrepreneur with no plan is , outside of luck, guaranteed to fail .
WHY BUSINESS PLANS FROM 7 PARK AVENUE FINANCIAL ?
We prepare and consult on many business plans for our customers . There are a variety of needs when you require a Business plan - We only focus one one of those ! ---> Our plans are focused on obtaining financing , as many other plans are too sales, marketing, or , unfortunately , ego driven .
Business plans prepared by 7 Park Avenue are very reasonably priced . We have researched the market and our plans typically range well below the price of other firms . We deliver the plans in a timely fashion, usually in less than one week . Plans require some input and key information from the business owner(s) , that consulting is included in our fee.
Most business people agree that entrepreneurs and owners need business plans with a clear goal and outline for their business model . Our plans are geared toward financing and investment . Our plans will show your bankers , financiers, and investors how you will make money and how debt will be repaid .
A business plan prepared for you by 7 Park Avenue Financial includes data on your industry and info and statistics that prove financing viability . Other components of our plans are owner overview and background, opening balance sheets, 3 years income statements and cash flow ( 5 if required ) etc. Typically our final plans are between 30-40 pages and include appropriate charts, graphs , etc.
Many bankers and financiers have refer customers to 7 Park Avenue Financial for such a document . They know we will deliver a professional industry driven final document thats realistic and what the bankers and lenders want / need to see.
Call now for a free consultation and a plan that will be delivered promptly at an affordable rate . Whether you are a start up, or require a plan for a new project or financing - Call now - 416 319 5769 , or email your questions to :
info@7parkavenuefinancial.com
7 Park Avenue Financial :
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8
Business financing for Canadian Firms , specializing in working capital, cash flow, asset based financing , Equipment Leasing , franchise finance and Cdn. Tax Credit Finance . Founded 2004 - Completed in excess of 100 Million $ of financing for Canadian corporations .
Stan has had a successful career with some of the world’s largest and most successful corporations.
Prior to founding 7 Park Avenue Financial in 2004 his employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) He is an expert in Canadian Business Financing.
Stan has over 40 years of business and finance executive experience. He has been recognized as a credit/financial executive for three of the largest technology companies in the world; Hewlett-Packard, Digital Equipment and Cable & Wireless. Stan has had in depth, hands on experience in assessing and evaluating thousands of companies that are seeking financing and expansion. He has been instrumental in helping many companies progress through every phase of financing, mergers & acquisitions, sales and marketing and human resources. Stan has worked with startups and public corporations and has many times established the financial wherewithal of organizations before approving millions of dollars of financing facilities and instruments on behalf of his employers.
Stan Prokop
