Getting a Business Loan: Know Your Numbers and Financial Performance

0
67


Complete Video Transcript

0:00world
0:05huh
0:12expose we’re gonna look at is something not some
0:16that really excites bankers really gets them going and yes
0:20it really puts most business owners into a cold sweat from the bank whenever they
0:24get off on this
0:25and so you have to learn to love it too we’ll probably see where we go with this
0:29attacks the financial information within your business
0:33how many view here would say they are really in love with the financial aspect
0:38of the business
0:38bit different from normal isn’t it
0:43we your eleven-week good stuff
0:46but not many business owners of they don’t like this aspect of the business I
0:50say daddy at
0:51what made that way to love the numbers but when you get to sit level in your
0:55business
0:55you have to learn to love you numbers and understand them because that’s going
1:00to prevent you from falling off the edge
1:02to learn to love these numbers for numbers we talking about
1:06what are the banks gonna need when he going to need updates
1:10accounts annual accounts i’d a phone call
1:14our Friday afternoon fucking yep for the guy
1:18looking for conversion mortgage of 75 K name is Alex
1:22family one without somebody with it being struck
1:26so guy said Sir Alex I’m gonna need to you now
1:30are annual tax when do you rent crane
1:36when’s our year-end March I thought it was a pro
1:40then I’ll sign off to find out not good starts
1:44you have to be on top the numbers
1:47that way to these know when you year-end is so many times are going to business
1:51owners
1:52by suppressing they don’t know that simple fact how can you manage your
1:56business
1:57when you don’t even know that simple interpretive information let alone reads
2:01the accounts ago in its because banks then we’ll take a policy in Apia now
2:06and they were with your pops they’ll
2:09analyze it to death with ratios look for trends
2:13they be looking for a data collection ratio stock turnover ratio
2:17credits in over ratio liquidity ratio
2:20gross profit margin percentage net profit margin presented pp
2:24PPT PBIT you know this stuff
2:27moon yes I think at
2:30about Sun unita are you an accountant so I about gay
2:34let you off on that when than we should know this stuff
2:37just think how powerful it would be if in your proposal document you do the
2:43analysis for the bank
2:44what that would do
2:47to how the back to sees you don’t also
2:52like the business owner Y-one spoke to said with your ok
2:55I didn’t exactly make lost last year it’s just that my sales didn’t quite
2:59meet my expenditure
3:00okay
3:05you understand the numbers that you have to know this stuff

Love to share my knowledge and experiences with everyone by publishing informative articles on my site.