Sunday, August 20, 2006

Helping a deserving client

Sometimes you come across clients who you really want to help because they really deserve to progress.

A lady client of mine has had a difficult and tough life raising children on her own after a divorce and supporting her family whilst running a small business. She has been bankrupt once but has soldiered on against substantial odds.

She has operated a small boutique for some years and recently uncovered an opportunity to set up another boutique in an upper middle class suburb. If she is able to capture this opportunity she will be able to make a good living and superannuate herself. She has been a little erratic in the past but she is mentally ready to subject herself to all the normal control and management processes that are required to succeed. She is determined not to pass this opportunity up.

She is experienced in the rag trade and has a lovely bubbly personality which makes her a capable saleswoman.If I was able to match her with a supportive investor who had a slightly more vigilant approach to business management it could be an extremely successful partnership.

She has struggled to raise bank finance because of her past bankruptcy and is trying to hold it all together while her latest application is assessed.

Once upon a time you could go to a friendly bank manager who had the authority to approve an overdraft of $20000 on the spot. But today the banks dont work like that.I've been bending my mind as to how I could best help her. Applying the power of 10 ( a little notion that whenever you have a problem you should force yourself to develop 10 possible solutions prior to evaluation) I came up with the following options
  1. Introduce her to a friendly bank manager
  2. Find a Business Angel for her
  3. Identify a female investor/s who would back her
  4. Have her do it on credit cards
  5. Transfer her business assets to a company and tough it out
  6. Get a supplier to invest
  7. Start a venture capital entity within our client base for just this purpose
  8. Email our clients to see whether there is any interest in backing her
  9. ?
  10. ?

Can you help me with more options? Can anyone help with any of the options above?

What else can I do to help her besides being prepared with some figures and the outline of a deal to present when an investor appears?

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