Tips & Tricks

How to check your plan:

• Even if you have background knowledge in financing present your plans to others in the sector.
• Funders have a lot of experience reviewing business plans.
• Middle managers, reviewing assumptions for an internal business plan, will also be very familiar with what can and cannot be achieved.

Suggested steps for fundraising:

1. Build a team out of cooperative members.
2. Determine the amount of property contribution.
3. Assess if there is a market demand for the idea.
4. Involve a financial expert.
5. Together, create a business model canvas (BMC).
6. Determine the composition of projected revenues.
7. Formulate a resource requirement that fits the purpose of the project.
8. Get to know and identify funding opportunities.
9. Be up to date on the tenders that appear.
10. Build relationships with support organisations.
11. Be familiar with support procedures
12. Assess whether there is adequate human capacity and organisational readiness for fundraising and implementation.
13. Prepare a risk analysis.
14. Regularly examine and analyze the liquidity situation of the enterprise.