Using a Strategic Business Plan - Meridian Business Television Episode 5

Nov. 30, 2011 - PRLog -- On this edition of MBTV, Randy Lennon asks Keith Turner, President and CEO of Meridian Merchant Capital about how businesses, using a strategic business plan, need to present themselves to bankers or other capital sources.
http://www.youtube.com/watch?v=naY9Sten0L0

Business owners need to take a step back before seeking capital.  Entrepreneurs are usually the people doing the business, not keeping track of the business.  And often times the track record as well as the future plans for the business are not documented in the way bankers, other lenders, and investors need to see them.  Another way to put this is that entrepreneurs and bankers speak a different language, hence the need to be using a Strategic Business Plan.

“Well, thanks to the Internet, all of us are now amateur experts, but nobody really expects a business owner to be an expert in finance. That's why there's help,” explains Turner.  His company is committed to bridging the communication gap between business owners and capital sources.  This means using a strategic business plan, creating living, breathing, financial projections, and cashflow models that not only meet the needs of potential lenders or investors, but also become an ongoing valuable guide for keeping track of results and effectively running the business.

“Yes, it's all about keeping it real, as the kids say,” continues Turner.  “At the end of the day, you've got to go back and look at what happened in the prior year before starting the next year. What did happen? Why did it happen? What adjustments need to be made?”

Using a strategic business plan with proper business and financial planning and projections, and then accurate tracking and then analysis of results are all part of running a successful enterprise.  To the extent that a business owner or entrepreneur can get the right advice and help in professionalizing in these areas, accessing needed capital will be much easier, whether it’s debt or equity.

Watch the show here: http://meridianbusiness.tv/?pid=9

To contact Keith Turner or Randy Lennon at Meridian Merchant Capital go to www.meridianmerchantcapital.com

Contact Randy Lennon at 403-538-2131

Next week’s show:  

How to maintain a long term relationship with a bank

MBTV is owned by Dream Detective Media Properties Inc., a transmedia company also founded by Turner and Lennon.

For more information visit www.meridiancanada.com
Or contact Randy Lennon at 403-538-2130

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