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Page 78 MAY 2017 | RETAILERS FORUM MAGAZINE

forumworkshop

FORUM WORKSHOP

continued...

Everything about how you present yourself to

these strangers, from the way you dress to how

you field questions you have no idea how to

answer, will help or hurt the financial picture.

Your enthusiasm for the store should be contagious, your

confidence in yourself unshakable.

It's to your benefit to submit something in writing

prior to your first meeting with potential

investors or lenders. A page or two defining the

store concept, the market it will serve, and why

the marketplace needs it will do. Also include a

brief summary of your experience and interests

as they relate to your ability to run the store.

Bring along a typed outline of

your business goals and financial

projections to your meeting; better

yet, show off your business plan.

Today's business standards call for a typeset

document of a few pages, perhaps some supporting graphs, bound or stapled with a cover

page.

Dress neatly but conservatively for the meeting. Be

prepared with any and all information

you've gathered while researching your market

opportunities. After the formalities of introduction,

explain your background, the marketplace,

and how the two combine for the store

concept. Answer any questions put to you directly,

to the best of your ability. When you

don't know an answer, lay off the bull. Promise

to get back with a response. Make sure you do.

When the subject of money comes up, be completely

honest and forthright about your needs,

and how it will help the business.�

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