5 things to ask for when applying for funding
1. Small business coach
2. Marketing program and marketing materials
3. Bookkeeper
4. Equipment
5. Stock
The mistake we make when applying for funding is concentrating on equipment and sometimes stock, which ends up setting the business for failure.
Skipping 1, 2, and 3 business ends up failing or taking a long time to see results or grow.
1) Why a small business coach
The purpose of the small business coach is to guide you, support you, help you see the blind spot, and hold you accountable.
Now, one of the reasons businesses fail is to lack support and have no one to talk to when things get overwhelming.
Entrepreneurship is a lonely path that is not like when you are employed, you can talk to your co-worker that’s when things get overwhelming. That’s why a small business coach will support you.
2) Why are Marketing programs and marketing materials
The are two options you can do the marketing yourself or get a services provider to do it for you, either way, marketing has to be done to get sales in the business.
Marketing programs include marketing strategies, marketing plans, and content creation for you to get visible in front of potential clients.
Marketing materials help clients find your office.
3) Why bookkeeper
I have seen a business fail and close because the pricing was wrong, and don’t know how to use money.
A bookkeeper will help with your books so you to see where money is going and what you are using money in.
You don’t have to hire a booker full-time. You can get a service you pay a monthly subscription for them to main your books in order.
4)Why equipment
Most of the time, the business needs equipment to start operations, especially product-based businesses.
Most funding can’t go over a certain amount. Don’t use the funding only for equipment start with one or two pieces of equipment the others you will buy as you grow.
If you are going to spend all your funding on equipment growth for the business will be slow because you still have to figure out how to get clients.
Funding doesn’t run or get the business sales. To get sales you must market the business.
5) Why stock
The stock you need to start selling, especially in product businesses.
Conclusion
It is cheaper to start a service business than a product business. Whatever business you decide to start or currently operating ask for these five things in your funding.
Have you included these 5 when applying for funding?
Afternoon.
How do i apply for funding. I was funded by Bontle ba mosadi but was not advised on how to think or what to do when looking for funding.
So now am sitting with stock but the business is not going anywhere.
I have a cleaning services company and transport.
I was hoping for mme mma rekathusa to help me with ●machines to manufacture my own products.
●A 24seater to also start tranporting workers and school children.
Am Masego Mosikatsi
From Olifantshoek
I really need help with my business
Good day Masego
I hear you say you were funded by Bontle Ba Mosadi what did they fund you?