http://www.bpfsolutions.com We get you funded, or you dont pay us! Wed, 23 Sep 2009 14:07:57 +0000 http://backend.userland.com/rss092 en Attention - Grabbing your prospects attention is the hardest. They are already so distracted. There are many ways to do it - Shout out!, Give something for free, Help them when they need your help, Give something unique, Give away tips, ideas or a test drive. Utility Factor - The prospect ... http://www.bpfsolutions.com/business-tips/getting-new-customers-is-hard-unless-you-use-this-approach/ We are usually called the 'gatekeepers' to the funding sources we deal with. Applicants hate to hear that dreaded "no" and the feeling of rejection that follows can be disturbing. Although a refusal almost always creates anxiety, it need not be a negative experience. A bit of thought and well-planned action ... http://www.bpfsolutions.com/business-tips/what-to-do-when-we-say-no-to-your-funding-request/ Checklist for Starting a New Business Background work assess your strengths and weaknesses establish business and personal goals assess your financial resources identify the financial risks determine the start-up costs decide on your business location do market research identify your customers identify your competitors develop a marketing plan Business transactions select a lawyer (preferably through somebody’s recommendation) choose a form of organization (proprietorship, partnership, ... http://www.bpfsolutions.com/business-tips/small-business-start-up-checklist/ Business owners dont realize that to get new money for expanding your business it is critical to keep your credit score in good shape. There is a great article here on that. "What is a good credit score and how do you get — or keep — one?. http://www.bpfsolutions.com/business-tips/business-owners-need-to-keep-a-good-credit-score-if-they-need-the-money/ When we mention debt financing, small business owners have two reactions. They either say we don’t use debt, period. Or they say we don’t need debt financing, period. Interestingly enough, these business owners have used debt financing previously but now are scared of it. However do not discount debt financing ... http://www.bpfsolutions.com/business-tips/unsecured-business-loan-a-guide/ We at BPF use $333 / month as an average lease cost per employee for our high level financing projections for service based companies. We use an average of 200 sq ft per person at a Toronto average of $20 per square foot per year. We have seen the richer firms ... http://www.bpfsolutions.com/business-tips/startup-space-calculation-per-employee/ Quoting Fred Wilson , Most venture backed investments fail because the venture capital is used to scale the business before the correct business plan is discovered. That scale/burn rate becomes the cancer that kills the business. I should also say that for businesses that don’t have the benefit of venture capital backing, ... http://www.bpfsolutions.com/industry/why-venture-backed-businesses-fail/ Aug 27,2009 (AP) - LendingTree, which allows prospective borrowers to get quick offers from multiple lenders, claims Google is about to get into the same business. A LendingTree lawsuit against a separate technology provider claims that it has learned Google plans to launch such a service later this month ... http://www.bpfsolutions.com/in-the-news/google-getting-into-the-loan-and-mortgage-referral-business/ Where do Canadian startups and small business find their financing? This is not a rhetorical question. Startups and small business will drive us out of this recession with the new jobs they will create. Their new jobs replace the hundreds of thousands eliminated at the large global brands whose solutions fell ... http://www.bpfsolutions.com/business-tips/canadian-startup-funding-through-credit-cards-bad-idea/ Commit to doing a Competitor Analysis every quarter. Most small businesses do not even do this when they start off, which is quite scary. You don't have to be completely accurate when you do this and this helps you to find your edge in your business. Names of competitors: List ... http://www.bpfsolutions.com/business-tips/create-business-focus-by-doing-this-every-quarter/