Give Funders What They Need: Accurate And Useful Financial Information
Are you struggling to know how to get funding for your business? Do you find it difficult to communicate your business’s financial health to potential funders?
If so, then you need to understand these two simple truths:
- YOU need to Know Your Numbers i.e. where you’ve been, where you are now, and where you’re going
- FUNDERS want to know exactly the same information, so give it to them! Show them that you Know Your Numbers and share those three things with them!
Knowing Your Numbers Will Help Secure Funding
As a Finance Director or Chief Financial Officer, I have seen many businesses fail to secure funding because they couldn’t provide accurate and organised financial information. That’s the information that potential funders want to know – where your business has been, where it is now, and where it’s going. Without that information, securing funding can be extremely difficult.
Giving them that information will make your potential funder’s jobs easy. They can process the information quickly if it’s all there, and it will give you a lot of credibility with them.
You’ll Make Better-Informed Decisions Too
Knowing your numbers is not just about securing funding; it’s also about making informed decisions about your business. By keeping your finances organised and up-to-date, you can identify areas that need improvement and opportunities for growth.
Seek Financial Professionals To Make Securing Funding More Likely
A financial professional’s role is to help you understand your financials and present them to potential funders in a clear and concise manner. By doing so, we can make informed decisions and help secure funding quickly.
How To Get Funding? Keep Funders Happy
If you’re looking to secure funding for your business, start by “Knowing Your Numbers”. Truly understanding your business’s financials is crucial for any business owner. It not only helps keep funders happy, but it’s essential for the growth of your business.
(shameless plug 👉 you WILL know your numbers and make significantly better-informed decisions, after going through one of our KYN Mastery Groups)
The Bottom line: take the time to understand your financials, organise them properly, and present them in a way that makes it easy for you and your funders to make decisions on…with the right financial information, you’ll have plenty of money to grow your business!
If you need any help or advice on managing your finances, please book some time with me and we can work out an action plan.
