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What skills would you need in order to become successful in terms of business financing

What skills would you need in order to become successful in terms of business financing #business #career

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Thank you comment icon Hi Cato, there are several ways that somebody can become successful in terms of business financing. Similar to Rob's answer, I'll say that this is a broad category /questions that should have some more context. For example, are you looking to fund your business idea? Or are you looking for information on a career in Commercial Banking / Business Banking, and the various positions that may be available in that category? What are your goals? I'm looking forward to hearing on if you, or others, have further questions in this area, and I would be happy to help offer some of my viewpoints. Brian Fontes
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Rob’s Answer

Hi Cato, it sounds like you have an exciting idea/opportunity in front of you. Without more context around what you are doing, I can answer in terms of most financing processes. Generally speaking, the most important step is to have a detailed business plan with associated financial model for what your product/service/company will be focused on. Whether looking to raise money with family/friends, angel investors, private equity or via a bank loan (leveraging your personal financial position), the business plan and the "work" it forces you to do is extremely important. It will force you to put pen to paper to succinctly articulate the value proposition, areas of differentiation, revenue model, associated costs and risks, etc. I would be happy to respond further if you have additional insight into where you are in the process.
Thank you comment icon Hi, I'm not the original commenter but what are the challenges of running a Tech business, like (TekStream). It's not implicitly similar to what I want to do, but business management and dealing with employers like communicating resources and making sure they're ready for the project is very important also finding good workers. Right now I'm pursuing math and fluid mechanics to eventually Jump into the Space industries, But I know ill eventually have to manage large teams and funding sources, so got any tips? and thank you in advance. Daniel
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Marsha’s Answer

Hi,
I agree with the original responder, finding success in Business Finance is a broad topic. Even the term "success" means different things to different people.
Assuming that you want to be respected by peers and customers and earn a good salary, here's my opinion...
Don't forget the "soft skills", there are a lot of folks with degrees and certifications who are unapproachable, struggle with building relationships in the workplace that get them to that next level.
Example, when working for a large company it's easy to forget people's birthdays, whether they like sports, whether they have family in a particular state...what worked for me and was useful in building relationships was creating a contact log where I jot down these "personal bits" and follow-up with calendar reminders (very nerdy but it works).
Maintaining and building that relationship is particularly helpful when I'm asked to work on a cross-functional team or need something from another department.
Another big thing is being honest about errors and mistakes. I am quick to accept accountability when I'm wrong. Doing so makes people trust me more.
Treat people with perceived "lower titles" and influence levels as if they are senior leadership. I've learned a lot of things from folks "in the trenches" which have morphed into successful ideas and executive wins.
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