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The Art of Asking For Money
In many previous blogs I’ve noted that there is a way to ask for money. In the most recent posts, I’ve discussed the importance of getting cash and credit when you don’t need it, and how to access these ideas and thoughts.
Asking for money looks and sounds easy. The words are simple, but as we know, it is actually quite complex.
The first thing: Be organized with your financials.
I’m talking about your Profit and Loss statement, balance sheet, and your cash flow. I’ve never seen any yet that are perfect, but the idea is to get as much control of those three documents as you can.
You can start by going through and eliminating duplicate categories, or any opportunities to recategorize something. When I look at expenses and income statements, I often see OFFICE SUPPLIES — all upper case. I also see another office supplies under expenses, in lower case. Many times, this is nothing more than a typo or administrative error in the same category.
Was it supplies meant for administrative work? Supplies meant for production? Services provided? Some should be in a different category — perhaps under cost of goods sold or cost of service sold.
Taking the time to organize your data could help you articulate the story your numbers tell, when you ask for money.
