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Book
Review
Finding
Money: The Small Business Guide to Financing
By
Kate Lister and Tom Harnish
Finding Money: An Insiders Look in Where to Find
the Cash and How To Ask for it
Fact: Lenders want to lend and investors want to
invest - it's their business. The problem is
entrepreneurs typically don't know how to ask
for it.
Finding Money: The Small Business Guide to
Financing (Wiley Small Business Editions) by
Kate Lister and Tom Harnish shows small business
owners how to find the cash. Lister and Harnish
contend that many small business owners are
rejected because they didn't find the right
investor and didn't approach them in the right
way.
What makes Finding Money unique is this book
goes far beyond anecdotes about people who have
launched successful businesses; it explains how
to do it. Lister and Harnish point out that
entrepreneurs don't need pep talks, they want
straight talk about where to find the gold.
Finding Money offers inside information and
practical advice about who has the money, how
they operate and how entrepreneurs can convince
lenders to invest their money with them. Lister
and Harnish have years of experience in banking,
investing and business ownership. They spell out
the broad spectrum of financing sources, such as
private investors and venture capital funds,
banks and finance companies, leasing companies,
SBA loans and many other government loans.
The authors discuss what to include in a loan
proposal, what criteria are used to evaluate a
loan request, how loans are commonly structured
and what course of action to take if a loan is
declined. Finding Money also reveals insider
secrets in negotiating with investors.
Lister has been an independent financial
consultant since 1986 and helped hundreds of
entrepreneurs find millions of dollars for new
businesses. In addition, she has conducted more
than 120 seminars on small business financing.
Tom Harnish, likewise, is a season entrepreneur
with 20 years of experience in directing money
for ventures in healthcare services to CD-ROM
electronic publishing. Finding Money is
separated into four insightful sections: In
Section One - Who Has Money? The authors offer
an expansive range of financing sources that are
available.
In Section Two - Learn how banks and other
lenders evaluate loan requests, how loans are
commonly structured, how to choose a lender,
what to include in a loan proposal, what goes on
behind closed doors when lenders consider loan
requests, and what to do if you're declined or
if your company runs into trouble after you've
received a loan.
In Section Three - The focus is on who invests,
how they evaluate your plans, what kind of
investments are possible and what different
approaches will cost you, how to navigate
through the legal requirements of equity
financing, and how to choose an investor that's
right for your business.
In Section Four - How Much Do You Need?
Entrepreneurs can discover how to avoid cash
drains on a new company or spot cash leaks
within an existing operation. Both divert the
only thing that will keep you alive -- precious
cash flow. Then, with all the holes plugged,
Lister and Harnish discuss how to figure the
amount of money you really need to establish or
grow your
business. You don't want to go through the whole
process and not ask for enough!
To start a new business or to expand existing
one, Finding Money offers practical,
step-by-step advice to attract the right
investors. There's plenty of money out there and
plenty of investors, entrepreneurs only need to
know how to find it. Finding Money can point the
way.
By Frank
Szivos, Editor
Angel Investor News
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