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How to Ask for the Money You Need

Once your business plan has been polished to perfection, you’re ready to use it as part of your campaign to get financing. If you haven’t done so already, you must decide where you’d ideally like to get the money you need. You should know whether you prefer to get financing from a lender or an investor.

Before you call people and make appointments, give some thought to a few preliminaries. Like it or not, you’re now a salesperson. Your task is to sell your plan. Don’t let this discourage you, even if your experience with selling has been negative. There are all sorts of good ways to sell things, most of which depend on a good product and an honest, straightforward presentation.

I can’t tell you exactly how to sell yourself and your plan, but I can make a number of suggestions. Write a Telephone Pitch Since some of your preliminary selling will be done over the telephone, you’ll want to be prepared.

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Sum-Up

Write a short statement of what you’re doing and why. Simply list your two or three major reasons for entering or expanding this particular business. Then write down how much money you need and how much you’ll pay the lenders or investors for using their money.

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