Business Plan

• Your business plan outlines the projected growth of your company, the methods you will use to secure that growth, and the qualifications of the management and executive personnel that will lead your company into the future. You can use your business plan as a tool to attract investors and convince lenders to finance your upcoming growth. But in order for your business plan to be useful in securing financing, it needs to be continually updated. Revise your business plan any time your company experiences changes. Some of the areas of change that should be reflected in a business plan include updated financial projections, changes to your staff, changes to your product, alterations to your sales and marketing methods, and any significant changes by your competition that affect your standing in the marketplace.
  
  

Resources

• When you are ready to look for financing to help the growth of your company, you should have a list of resources available to you that you can begin your search with. Collect the names and business cards of investors, loan officers and anyone else who may be able to help finance your company's growth, and stay in touch with them frequently. When the time comes to discuss business, you will already have an ongoing relationship that can help you secure your financing.
  
  

Personnel

• Your personnel can enter into the decision-making process for investors and lenders. That is why you should always strive to have the most competent personnel possible on your staff. From upper management to the production staff, your employees should be looked upon by yourself and your potential investors as qualified to help the company grow successfully. A less than competent staff can be a disadvantage when it comes to trying to convince financial contacts that your company has all of the necessary resources to grow.
  
  

Operating Costs

• When a investor or lender looks over your company's financial situation, it can be helpful to show that you have control over your operating costs. Annual energy audits are proof that you are trying to control energy costs in your company, and a staff review every year can help justify the cost of the employees you have. It is best to have energy and staff audits done by third-party consulting companies so that the results appear objective. Other areas to audit annually for cost savings include logistics and manufacturing.