By Olle Tiggelaar at April 27 2019 05:56:07
Make it enthusiastic, professional, complete, and concise. If you are applying for a loan, state clearly how much you need and be precise in how you are going to use it. Also include detail about how the money will make your business more profitable, thereby ensuring repayment of the loan.
Create A Capital Plan: Next, I would develop a capital plan identifying dollars to be spent on the business to increase its overall value. While all capital dollars may not entirely be discretionary _ i.e., investing dollars for anticipated return from growth _ it is necessary to determine how capital dollars will be allocated whether for discretionary purposes or general maintenance. Projects that require capital are critical for the company growth and must be managed to their desired return, avoiding shortfalls in ROI or issues involving "capital creep". If you haven't already, setting up a capital committee to review expenditures in advance of the start of the project provides some assurance that the projects have been vetted against return on investment. Lastly, developing a post_audit process enables the team to review and monitor the progress of ongoing investments.
All the years in those various positions offered great opportunities for leading, teaching, training, and hands on support for empowering managers and workforces. Environments were created that made it possible for people to reach levels of success they never thought possible. Success came because of the use of real leadership, lean principles, employee involvement, a trusting environment, good communication, continuous improvement, and solid operating systems. The results were people working toward an error free workplace, waste reduction, and a very positive attitude toward meeting goals and expectations. This resulted in labor content reductions, major reductions in labor turnover, major increases in inventory turns, reductions in cycle times, improved customer relations, strong teams, and improved employee satisfaction. I have had the good fortune to have practiced and proven that creating the right environment will cause people to want to participate in helping organizations meet their goals and visions because it is an environment that lets them build success for themselves as well helping everyone else build theirs. I believe strongly that you cannot motivate people but that the right environment is what motivates people.
Industry Analysis _ How does your product or service compare with what is currently on the market? What is the trend in the overall industry? What have been the total sales in this industry over the previous 3 to 5 years? What new products or technologies have had the biggest impact on this industry recently? What is the future outlook for these and what trends are emerging? Who are the competitors, where are they located, and how are they doing? What advantage do you offer over them? Who is buying this product or service now? Describe the typical customer for this product or service. Are there emerging markets or market segments? Where does this product or service currently perform best? Possible Data Sources: trade associations; trade journals; attorneys & accountants dealing with the industry; industry salespeople; state business websites; focus groups.