Category Archives: Business Funding

Building Rapport In Business

quote from intel

In business, working with others is essential to getting the job done. The positive relationships we build with them is often referred to as rapport. Establishing a good rapport with someone can be the difference between getting that fresh idea relayed to the boss or having your report buried under a pile of junk mail on the desk. Depending on the type of business and your position in said business, you may work with several different people or just a few. Either way, it is important to make building rapport with these associates a priority. Below, we will review ways to build rapport with the different people you may come across in business.

Clients – having a good relationship with your clients goes farther than filling their orders, giving great legal advice, etcetera. A good product or service is the primary reason they chose your business/company. However, it is often the type of service they receive that keeps them coming back again and again. Recognizing the things that please your clients is a great way to build rapport. Some may appreciate a card during the holidays, while others may respond well to a personal follow up phone call.

Coworkers – the guy in the cubicle next door, the mail guy and even the boss can be considered your coworkers. Working day in and day out together, you are bound to learn things about each of them. Perhaps you know Bill likes his coffee black, while the boss takes his with cream and sugar. Sally is always talking about her children, signaling her love for her family. Asking Sally about her kids will surely make her light up, and bringing Bill a coffee after a late night at the office together will come across as thoughtful.

Vendors – whether they bring the bottled water or print your marketing, vendors can at times be what keeps the business going. Quite often, we engage in small talk with our vendor representatives. Pay close attention – remembering details like what hobbies they have can give you a leg up when you are in a crunch. Inviting someone from the marketing company to a round of golf can result in moving to the front of the line for rush orders.

Funding Your Business In An Easy Way

Many people want to have a personal business, but the main impediment is given by the fact256 that they don’t have enough money to start it. There is indeed needed a large sum of money in many situations, and it’s important to have it if you want to have a chance at success.
However, you’re going to need money right from the start, so you’d better know exactly what you have to
do. Let’s see how you can fund your business easily and affordably.


The Start

If you want to get it started, first of all you have to think about a domain of activity. Consider what you know how to do very well, as that could be a starting point for a business. For example, if you know accountability, you can keep the books for other small businesses; if you know how to bake cakes, you can open up a cake shop; if you know how to do nails, you can start on this, and the examples could go on.

This being said, once you know what you want to do, you have to think about how much money you will need. This is because a home based business needs less money than any other type of business – one that has an office and a physical location.

 

 

For example – if you plan to open up a coffee shop, you will need a bigger location, meaning a bigger rent, but you will also have to invest in furniture and the rest of the equipments that are required in this kind of location.


The Business Plan

1425067326708The business plan is extremely essential, especially if you need funding. This is because without a business plan, you won’t be able to get a loan or to attract an investor. This plan has to have all the important details about your business – the name, the location, the type of business and its activity, how many money you plan to invest, who will be working there – meaning how many employees, the financial planning and the marketing plan.

Everything has to be detailed so that whoever takes a look at your business plan can judge if the business will be profitable or not. Even so, for what you’ll have to do next, the business needs to be profitable, otherwise it will all be for nothing.


The Bank

If you decide to get a loan, you will have to take your already done business plan and start looking for banks or financial institutions that are willing to offer you money for your business. If the business plan is done perfectly, you will be able to get a loan, but make sure you have some starting money. They will finance about 75% or 85% of the total sum that you need, so you’re going to have to have the rest of the money.


The Investors

BD ICONIf you want to attract investors for your business, the business plan will prove to be extremely efficient. If they see that your business has potential, you will be able to attract someone.

However, you won’t be the sole owner of the business, as the investors will take a good share of the business and its profits. This means that they could be helping you with the start and they might be offering you a good sum of money, but you will have to share the business with them – you could be left with 25% of the whole business, without being able to decide about its future.

However, if you want to be the sole owner of the business, you could save money for a longer period of time and use your own savings for financing the business, or you could take a credit. In these cases, you take the decisions regarding your activity, but make sure you always get specialized help for making your business succeed.