PREPARING YOUR BUSINESS FOR EXTERNAL FUNDS by eni-ola

View this thread on steempeak.com
· @eni-ola ·
$5.23
PREPARING YOUR BUSINESS FOR EXTERNAL FUNDS
![1396044769-how-make-time-work-pitching-funds.jpg](https://cdn.steemitimages.com/DQmUNHQoqhgEW5M4FAGBhupqgL7yDHMzkQDMcHrcvzz51Sg/1396044769-how-make-time-work-pitching-funds.jpg)



Small and medium scale businesses contribute largely to the economic growth of a nation, although greatly underrated they serve as the largest employers of labours in our country but unfortunately the small and medium businesses fail very easily, and the reason for this business failure is not farfetched, business failures occur as a result of:

Lack of proper accounting
Lack of proper understanding of the business.
Lack of a book keeping strategy.
The absence of continuity spirit.
Lack of adequate mentorship facility.

Funding is very important for every business, there is no standing or established business without fund even if fund could be averted at the early stage by simply rendering service, growth and establishment calls for funds. The access to funds for businesses have become more easy gradually as the years go by, the method of accessing funds that we had before was very difficult from what we now have since so many local and international bodies are now concerned about the growth of SME’s .

As easy as it has become for small and medium business owners to access fund, it is not every business that will have the liberty to get these loans, in order to access the loans from organizations and financial institutions, there are steps that has to be carefully considered:

### Things to consider before getting funds from financial institutions.

As a business entity who wants to access funds from organizations, you have to keep a proper record, the details of every funds that comes in and out of your business including your expenses has to be efficiently covered. The first thing any investor will want to have a look at before investing or funding your business is your record, this will help them ascertain the level of the business and what they stand to lose or gain throughout the investment period.


So many businesses fail as a result of giving out goods on credit, the level of small and medium businesses that sell on credit in Africa is very great and it is always difficult to get their money back, this makes it difficult for investors to check cash flow and without a regular cash flow, it will be difficult for investors to make any investment.


Learn to different cash flow from profit, there is a great difference between having regular sales and the profit that emerges from the cash flow, a regular cash flow does not interpret to mean more spending on personal needs. Personal needs should always be differentiated from the income of your business, if personal needs are placed on business income, there is no way an investor will put funds into such business.


Have adequate knowledge about your business, investors will regularly want to ask questions about your business from you and it is necessary to be able to provide answers to the questions asked.
Always get a support system from those you can trust, no one can handle a business alone, you need a team that is supportive, innovative and consistent.

[Image](https://www.entrepreneur.com/amphtml/316567)
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 101 others
properties (23)
post_id86,037,519
authoreni-ola
permlinkpreparing-your-business-for-external-funds
categoryhive-175254
json_metadata{"tags":["hive-175254","business","entrepreneur","entrepreneurship","steemexclusive","steemleo","steem-leo","leofinance"],"image":["https:\/\/cdn.steemitimages.com\/DQmUNHQoqhgEW5M4FAGBhupqgL7yDHMzkQDMcHrcvzz51Sg\/1396044769-how-make-time-work-pitching-funds.jpg"],"links":["https:\/\/www.entrepreneur.com\/amphtml\/316567"],"app":"steemit\/0.2","format":"markdown"}
created2020-05-17 18:39:09
last_update2020-05-17 18:39:09
depth0
children7
net_rshares12,649,600,210,337
last_payout2020-05-24 18:39:09
cashout_time1969-12-31 23:59:59
total_payout_value2.330 SBD
curator_payout_value2.896 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length3,199
author_reputation45,825,911,400,742
root_title"PREPARING YOUR BUSINESS FOR EXTERNAL FUNDS"
beneficiaries
0.
accountph-fund
weight2,000
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
author_curate_reward""
vote details (165)
@futurekr ·
So many business owners  usually just want to get external investors but definitely do not consider these factors, you have shared wonderful ideas.
properties (22)
post_id86,038,395
authorfuturekr
permlinkqahtjd
categoryhive-175254
json_metadata{"app":"steemit\/0.2"}
created2020-05-17 20:43:36
last_update2020-05-17 20:43:36
depth1
children1
net_rshares0
last_payout2020-05-24 20:43:36
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length147
author_reputation39,607,531,636,946
root_title"PREPARING YOUR BUSINESS FOR EXTERNAL FUNDS"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@eni-ola ·
Thank you @futurekr.
properties (22)
post_id86,071,405
authoreni-ola
permlinkqamo9p
categoryhive-175254
json_metadata{"users":["futurekr"],"app":"steemit\/0.2"}
created2020-05-20 11:37:51
last_update2020-05-20 11:37:51
depth2
children0
net_rshares0
last_payout2020-05-27 11:37:51
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length20
author_reputation45,825,911,400,742
root_title"PREPARING YOUR BUSINESS FOR EXTERNAL FUNDS"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@trufflepig ·
**Congratulations!** Your post has been selected as a daily Steemit truffle! It is listed on **rank 25** of all contributions awarded today. You can find the [TOP DAILY TRUFFLE PICKS HERE.](https://steemit.com/@trufflepig/daily-truffle-picks-2020-05-18) 
    
I upvoted your contribution because to my mind your post is at least **1 SBD** worth and should receive **78 votes**. It's now up to the lovely Steemit community to make this come true.

I am `TrufflePig`, an Artificial Intelligence Bot that helps minnows and content curators using Machine Learning. If you are curious how I select content, [you can find an explanation here!](https://steemit.com/steemit/@trufflepig/weekly-truffle-updates-2020-20)
    
Have a nice day and sincerely yours,
![trufflepig](https://raw.githubusercontent.com/SmokinCaterpillar/TrufflePig/master/img/trufflepig17_small.png)
*`TrufflePig`*
    
properties (22)
post_id86,047,353
authortrufflepig
permlinkre-preparing-your-business-for-external-funds-20200518t161102
categoryhive-175254
json_metadata{}
created2020-05-18 16:11:03
last_update2020-05-18 16:11:03
depth1
children0
net_rshares0
last_payout2020-05-25 16:11:03
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length883
author_reputation30,982,118,529,863
root_title"PREPARING YOUR BUSINESS FOR EXTERNAL FUNDS"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@fucho80 ·
Hello dear friend @eni-ola, good post.

There are many details that we must take care of to be successful in our business, the advice you bring here is very good, thanks for sharing.
properties (22)
post_id86,071,018
authorfucho80
permlinkqammi0
categoryhive-175254
json_metadata{"users":["eni-ola"],"app":"steemit\/0.2"}
created2020-05-20 10:58:54
last_update2020-05-20 10:58:54
depth1
children1
net_rshares0
last_payout2020-05-27 10:58:54
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length182
author_reputation77,624,711,662,869
root_title"PREPARING YOUR BUSINESS FOR EXTERNAL FUNDS"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@eni-ola ·
Thank you for the nice words @funco80.
properties (22)
post_id86,071,386
authoreni-ola
permlinkqamo7d
categoryhive-175254
json_metadata{"users":["funco80"],"app":"steemit\/0.2"}
created2020-05-20 11:36:27
last_update2020-05-20 11:36:27
depth2
children0
net_rshares0
last_payout2020-05-27 11:36:27
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length38
author_reputation45,825,911,400,742
root_title"PREPARING YOUR BUSINESS FOR EXTERNAL FUNDS"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@steemcurator06 ·
This post has been rewarded by the Steem Community Curation Project. #communitycuration06.
properties (22)
post_id86,071,306
authorsteemcurator06
permlinkqamnwt
categoryhive-175254
json_metadata{"tags":["communitycuration06"],"app":"steemit\/0.2"}
created2020-05-20 11:29:57
last_update2020-05-20 11:29:57
depth1
children0
net_rshares0
last_payout2020-05-27 11:29:57
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length90
author_reputation309,029,543,251
root_title"PREPARING YOUR BUSINESS FOR EXTERNAL FUNDS"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@adityajainxds ·
@eni-ola currently its very difficult to get investor now , as boz of covid-19 whole world is facing economy meltdown.
properties (22)
post_id86,085,143
authoradityajainxds
permlinkqaot3z
categoryhive-175254
json_metadata{"users":["eni-ola"],"app":"steemit\/0.2"}
created2020-05-21 15:16:42
last_update2020-05-21 15:16:42
depth1
children0
net_rshares0
last_payout2020-05-28 15:16:42
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length118
author_reputation70,613,687,112,481
root_title"PREPARING YOUR BUSINESS FOR EXTERNAL FUNDS"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000