Here are good important factor you need to consider when getting a loan :
- Loan Amount : How much do you need, and what are they for. Remember, you need to pay for Interest, so don’t borrow more than what you need.
- Collateral : What asset do you have for getting the loan? Or is it collateral free?
- Interest Rate : How much Interest do you need to pay for the loan? Is it worth taking? For example, if your business gives 5% annual return, while the interest rate is more than that, don’t take the loan.
- Payment Term : When do need to make payment back? How long until you finish repaying? What if you default the payment?
March 11th, 2006
Selling business plan generally involve doing these 2 things well:
- do up a good business plan
- sell the plan to a partner / capitalist / loan provider
To do up a good business plan, have a look at these sites. They tell you how to form a business, from idea creation, writing proposal, to setup and operation.
- Business Week
http://www.businessweek.com/smallbiz/
- From the same publisher as the Entrepreneur magazine
http://www.entrepreneur.com/
- United States Small Business Administration
http://www.sba.gov/
- Small-business articles from the Microsoft Small Business Center
http://www.microsoft.com/smallbusiness/resources/articles.mspx
- Starting a Business: Advice from the Trenches
http://www.alistapart.com/articles/startingabusiness/
- Business Plan Software, Samples, and Strategy
http://www.businessplans.org/
- UK Small Business
http://www.smallbusiness.co.uk/
- Small Business Resources, Business Advice and Forms
http://www.allbusiness.com/
- Rich Dad Investment & Business : Read the articles & join the forum
http://richdad.com/
- Join Meetup.com and find your local entrepreneur/business group
http://www.meetup.com/
- For online business
http://onlinebusiness.about.com/
http://www.myownbusiness.org/
http://www.oncallgeeks.com/
http://www.internetbasedmoms.com/new-internet-business/
While some of the above links will give you methods for selling the business plan, general sales techniques applies too.
A master salesman is the salesman that has perfected his/her sales techniques so well that the buyer will have no problem granting him/her the deal.
Well-known sales techniques includes:
- Asking questions you know that your prospect buyers will say “yes” to. The more “yes” they say, the easier it is for them to say yes when asked to buy.
- Comparing two options, where buying your product is the superior one.
- Never argue with your client, always agree with them, even if you are absolutely sure they are wrong. Find a way to twist to your benefit if it really matters.
- Make your product seems to be worth more than it really is, then discount the price if you need to.
- Good packaging/ presentation/ store design/ website layout all makes difference to whether or not your prospect buyer will say “Yes!”
March 11th, 2006