The 3 Habits Of Those Who Get Their Small Business Funded

When you’ve decided on searching for funding for your small business, be it govvernment funding, private money or borrowing from family and friends, following a technique that’s proven to work in the past is usually the best thing you can do.

But who has the right advice and the best techniques? Every small business and entrepreneur has different ideas and a different method to obtaining funding.

So what we’ve done is asked a number of our own success stories of those who got government funding what their habits were before getting funded and what eventually led to obtaining funding.

Here are 3 habits of those who got funding for their business:

1. Concentrate in your business plan

The first step to asking anybody for money for your small business is to have a well developed and self explanatory business plan. Your plan should answer every question that a potential investor may have and detail exactly what you need funding for and how much!

2. Narrow down your funding options

While there are hundreds of opportunities, you can’t be considering them all. In fact those that got funding usually applies to 2 to 3 sources. Be specific as to what you want, and focus on it. Don’t just try any source just because it’s there. This is where quality over quantity is key.

3. Figure out your numbers

Knowing how much funding you need, what you need it for and if you truly need it, is actually very important. Afterall you don’t want to borrow money if you don’t need it, or if you can do without it. Know your numbers before you make any application decisions.

It’s pretty simple really, if you want to apply for funding get a business plan made, narrow down your program search and only apply for what you really need.