Facing The Dragons

Are you ready to face the Dragons?

Facing The Dragons

Most of us have seen an episode of Dragon’s Den or Shark Tank where the Dragons are sitting lying in wait like medieval Lords, picking over and dissecting the hapless entrepreneurs who want their help launching their business ideas. How would you prepare to meet these Dragons?

Under pressure can you explain clearly and succinctly what your product is? They will want to know who and how many people would want to buy your product. Do you have a clear picture of you is your demographic? What marketing plans are you developing to make it a success?

Then comes the questions of production and overhead costs.
What is your projected or current profit margin? Can you confidently state how investment will increase this?

Then lastly comes the question on cashflow.
This is normally what makes or breaks a deal.

Finally comes the question of cash flow, how much do you have to spend before you get paid which leads onto the question of how much investment do you need?

If you cannot clearly answer all these questions, then you will be humiliated on national TV.

So, prepare properly to meet your Dragons.

#startup # #cashflow # #financialmanagement # #cfo # #businessowners

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