Business Finance Is a Foreign Language

When you go to Spain it is fair to say we all know a few words, could order our cerveza, count to 10 and the rest. Not many of us are fluent.

Take that then try mixing that with a bit of Mandolin, Flemish, Arabic, and Esperanto. Just how fluent would you be then?

The point here is that nobody expects you to be fluent in every language of every country you visit.

Stay with me here, read on…

The Business Finance Analogy

The point here is why do banks and finance companies that serve the small business market all use jargon and different terms. Then, they expect the small business owner to completely understand what they want.

Doesn’t quite add up does it?

This comment from Julie Meyer of Ariadne Capital sums things up nicely;

“Entrepreneurs are working so hard, they just need the money. How do we get the finance suppliers and partners to recognise that these guys can’t do the job of running the business and be raising capital consistently because there are only so many hours in the day?”

If you are putting so much into your business then why is it that your business finance provider is talking another language?

There are simply not enough hours in the day to run your own company and raise your business finance.

The Business Finance Challenge

We have established that business finance providers (and the banks are particularly bad) talk another language, and that the entrepreneur does not have the hours in each day to learn another language.

So that’s the problem, where is the solution?

Outsource What You Don’t Know

Like a trusted friend once told me, ‘if you aint no good at it, then give it to someone who is’ 

The simple answer to business finance is outsource it. Stop trying to learn another language, concentrate on your business and give the other bits to someone else.

By David Farmer

Reference – Grant Thornton / Julie Meyer

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