Sunday, January 15, 2017

Stephane visits the banker. How can he prepare to ask for a business purchase loan?

How many at-bats can you get with your banker? Better be prepared!

This week’s question comes from Stephane who wants to know how best to prepare for speaking to a banker about a business acquisition loan.

It’s much like everything else in life, there’s preparation, then lots of practice.

This means studying your forecasts and the subject business and industry.  Reading and learning lots.  Maybe a speech to your cat on the topic.

If you’re setting yourself up for life as a business owner, then you should have people around you to help ‘play banker’ and get you ready.  If not, then a membership application to the Kiwanis, Rotary or another club may be in order.

When it comes time to speak to your first banker though, many people haven’t thought of this preparation trick that I’ve used for years.  I made a video to tell you all about it.  Watch here:

Learn how to buy a business at where you can access tons of information and enroll in my online course.

In fact, I often tease and poke fun at people who claim to want to buy a business who seem unwilling to invest a few hours into learning how to do it correctly.  I mean, come on, seriously?  (The course works out to less than $20/hr. and comes with a 30 day money-back guarantee!)  You can see how my whole buyer system works in this video from two weeks ago:

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I’m coming to Charlottetown, Prince Edward Island in January 2017 and Saint John, NB on March 1st.  Seats are already filling up.  Find all my live events here:
Thanks and I’ll see you next time.

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