Banks vs. Entrepreneurs (the mindset) 2024

There is a distinct difference between the mindset of an entrepreneur and lending insitutions such banks and other funding institutions.

Banks have long maintained a traditional approach to finance, which doesn’t necessarily align with the mindset of millennials or, dare I say, entrepreneurs in general!
Business owners and entrepreneurs born between 1981 and 1996 often appear dismissive when responding to banks’ requests for detailed information and numbers. The simple fact is, there’s often a disconnect between banks and entrepreneurs because their respective mindsets are so different.
Millennial business owners aren’t necessarily keen on jumping through the hoops required by banks and their employees, yet they also recognise that it’s something they may need to do.
A prime example is a bank’s request for a sound business plan — a snapshot in time that is often difficult to validate and frequently requires estimates depending on the stage of business development.
The preparation of such a business plan also doesn’t come with a mentor, coach, or adviser, compounding the challenge for an entrepreneur. Additionally, many bank advisers aren’t familiar with the tools and processes that can aid entrepreneurs in this crucial task. Moreover, these bank employees may not have owned a business themselves and, while experienced in the small business market, may never truly understand the uncertainty and challenges of a startup.
A recent conversation with a young entrepreneur highlighted this very mismatch of mindsets. The entrepreneur had a link to a Business Plan app on his home screen for 18 months, yet he never opened it. Why? Because he feared the ‘can of worms’ it might unleash.
A business plan is a vital business document, but when and how it is prepared should not be a daunting task.
The Bizezi app addresses this conundrum.
Bizezi simplifies the process of producing a business plan that:

• Addresses a bank’s concerns about the safety of their money
• Validates an entrepreneur’s enterprise and produces a robust document
• Aligns with the millennial mindset, is engaging, and meets the bank’s lending criteria

Bizezi forms a bridge between the often radical, rebellious entrepreneur and the steady, reliable bank.
It’s a bridge between a risk-taker and the stability a bank represents, providing the business and financial answers it requires.
Bizezi is a key asset and tool, perfectly suited to bring business owners and banks together on common ground.
Check out the app today and transform any discussion with a banker, financier, investor, or supplier into a productive and positive experience.

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