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Getting someone else to invest in your business needs thorough planning. Seeking advice from a Management Accountant such as LeaskAS and using their experience and expertise can increase your chances of a positive outcome.

Here are 8 easy steps to get a the financial backing you are looking for :

1.The hook to get them interested . Prepare a compelling story about why your business provides THE best product or service on the market.

2. Your Category of One. Be able to explain exactly how your business stands out from the crowd. What makes you different to other similar businesses.

3.Thorough Understanding of your market. Have specific knowledge and know who your competitors are. Analyse and detail where you are now and where you want to be, this will help you to benchmark and detail how you will get there.

4.Relevant Experience and Qualifications. You have to provide information on the background of the key staff members. These CVs illustrate how your staff will drive the business to the success you deserve.

5.Route to market. Be prepared to explain in detail what your currently do to get business and how you plan to get your service to market in the future. Are you trying to get to your prospective clients directly, indirectly, though agents or a mixture? What is your pricing strategy, can you justify why your prices are what they are and what different structures you are using and why?

6.How much do you want to borrow (loan) or apply for (grant). Have a clear idea of the amount of funds you are asking for and specify why you want it. Also, be certain about how and when a loan will be repaid.

7.Financial Statements. The financials are key to demonstrate that you have good controls in place. Expand your Cashflow and Profit and Loss Models. They will explain how you have planned the current financial year and what projections you have for this and future years. The Profit and Loss, Cashflow and Balance Sheet are essential. ENSURE ALL FIGURES TIE UP AND DO NOT CONTRADICT EACH OTHER The reader MUST believe that you know what you are doing!

8.Future Vision. Have a clear idea of how you want the business to develop and grow. If you are wanting an exit strategy be able to explain when you want to hand the business over or sell. That is to say you when will you want to take a step back, and how you are planning for it?

Prepare, planreview and prepare some more. The essential things to bear in mind when planning to ask someone else to invest in your business is to ensure that you have prepared thoroughly. By addressing all the 8 points above and seeking advice from an expert, such as a Management Accountant, you will boost your chances of reaching this decision.