Get your business ready for liftoff!
Every business starts with an idea. But for many entrepreneurs, it’s a rocky road from inspiration to grand opening. That’s where Biz Liftoff comes in.
Our innovative Biz Liftoff program guides companies through the startup process and helps determine financial feasibility. The end product is a bank-ready financial plan and a strategy for liftoff!
Biz Liftoff helps give you a solid plan for the best chance at success. “Getting Started” is the first step. The step-by-step process asks you questions about ownership, controlling interest, and other operational decisions.
· Are you willing to bring in business partners?
· Will you have enough money to go it alone?
· Do you need to get a loan?
· Should you rent office space?
· How much should you spend on marketing?
The questions make you think about what it takes to put a business concept into action.
Do you have a plan? With Biz Liftoff, you will.
Biz Liftoff is designed to help you consider every possible cost, fee and necessary purchase associated with opening your business. Step two is called “Building Your Business,” and it helps you calculate the costs.
· Will there be labor costs? Training?
· How about the utility deposit?
· What about inventory and equipment?
· Furniture or fixtures? What’s your working capital?
This step establishes where the money will go. So, take your time and think it through. It’s the step you need to move from “thinking it can work” to “knowing if it can work.”
Will you be able to keep the lights on? With Biz Liftoff, you’ll know.
Every business must make more money then it spends to be a self-sustaining success. Biz Liftoff helps you understand the numbers behind this necessary business expectation. Step three is called “Building Your Projections,” and it puts realistic numbers on your business future. What are your fixed and variable expenses? What can you reasonably expect to make? What are your revenue projections for one month? Six months? The first year? This part of Biz Liftoff lets you test assumptions on sales forecasts and realistic expenses, giving you an in-depth understanding of how your business really works…through good times and bad.
Can your business be self-sustaining? With Biz Liftoff, you’ll have an answer.
You only have one chance to make a good first impression with a lender. Biz Liftoff makes sure you do it right! Step four is called “Reports.” This is where all your business information comes together to create a virtual picture of your start-up needs. Lenders want to know three things: Do you have the expertise to create and run this business? How much do you need? How will I get my money back? Through narrative reports and easy-to-follow projections, Biz Liftoff helps lenders, bankers and potential investors understand your resource requirements and your chances of success.
Will investors see your business “big picture?” With Biz Liftoff, they will.