Banks have a traditional approach to finance which doesn’t necessarily sit easily with millennials or, dare I say, entrepreneurs period!
Business owners and entrepreneurs born between 1981 - 1996 can often seem flippant when responding to banks’ requests for robust information and numbers. The simple fact is there’s often not a marriage between banks and entrepreneurs because their respective mindsets are so different.
Millennial business owners aren’t necessarily interested in jumping through the hoops asked for by banks and its employees and yet they also know that it is something they may have to do.
A case in point is a bank’s request for a sound business plan - a snapshot in time that is often hard to validate and often requires guesstimates depending on the stage of business development.
The preparation of such a business plan also doesn’t come with a mentor, coach or adviser; compounding the challenge for an entrepreneur. At the same time unfortunately, many bank advisers aren’t aware of tools and processes which can help entrepreneurs in such an important task. Additionally, these very bank employees may not have owned a business and while experienced in the small business market, may never feel the entrepreneurs ‘start-up’ uncertainty and pain.
A recent conversation with a young entrepreneur brought to light this very mis-match of mindsets. It transpired that the entrepreneur has a link on his home screen to a Business Plan app. And yet for 18 months the home screen link was never touched... and why... because the business owner worried about the ‘can of worms’ he would open when he clicked to open the link.
The business plan is an important business document, however, when and how it is prepared does not need to be a ‘can of worms’.
The Bizezi app addresses this conundrum.
Bizezi makes it a breeze to produce a business plan that:
Bizezi forms a bridge between what is often a radical, rebellious entrepreneur, and a steady Eddie bank.
It’s a bridge between a risk taker, and the stability a bank represents and the business and financial answers it requires. Bizezi is a key asset and tool, and a perfect way to bring a business owner or entrepreneur and bank together on common ground.
Check out the app today - and make any discussion with a banker, financier, investor or supplier more of a happy marriage than a conflict-ridden relationship.