STiR coffee and tea magazine

STiR coffee and tea 25 Growing Into Performance. INNOVATIVE COFFEE SORTING SOLUTIONS Better than the human eye, Cimbria sorting technology is the most advanced and reliable solution to meet the high quality standard of the raw and roasted coffee beans processing industry. The all-new optical system integrates Full-Color RGB and NIR cameras, that can be combined with SWIR and UV technologies to remove any color defect and foreign body like shells, stones, wood and glass: great purity, optimized yield and food safety. Growing into performance is easy and effective, thanks to the extraordinary technology signed by Cimbria. Cimbria.com Cimbria Srl Imola, Italy Tel +39 0542 361423 seainfo@agcocorp.com WATCH THE VIDEO stitutions are looking into getting interest. It can be difficult, es- pecially, if there's some kind of risk involved for the investor or funder. But a lot of rejections can lead to a 'yes'. Don't give up!" Know what you are getting into and show the lender that you clearly understand not only your business's growth potential but also risk mitigation. Work on emphasizing what the lenders want to hear: low risk for them. Develop a clear understanding of your company's bankabil- ity across three key criteria: • Your business's ratio of debt to equity as well as its rev- enues, cash flows, and profit margins. • The stability of your business and its pattern of cash flows. Few if any financial institutions will simply accept fore- casts. They need to see a minimum of three years of perfor- mance records. • The risk profile of the industry and the business itself. Link in Sometimes it is possible to obtain a loan or equity investment from an individual: a friend, colleague, or relative. A private funder might lend you money based on a personal guarantee of some kind, formalized in a promissory note, or invest in your company's equity based on ownership of shares. Another potential source of money includes non-govern- ment organizations, foundations, and impact investment funds. These funders provide financing for businesses that help make the world a better place by improving social and economic wel- fare and the environment. Whether you are approaching an acquaintance, a philanthro- pist, or a banker, tell your story well. "Finance people are peo- ple, too. Some of them have really boring jobs and are just dying to have interesting clients!" When you talk with them, don't just hand over spreadsheets. Convey a sense of the purpose of the investment or loan. Pay attention to how you speak with business counterparts. Your presentation style can affect your likeability. Be yourself. Convey your passion, joy, dignity, and excitement. Use your storytelling to link these feelings to your business. Pick the at- tributes of yourself that you feel work in this context. If you are funny, go for funny, suggested McIntyre. Rejection is common, so you'll need to approach a number of different institutions and people to increase your chance of success. If your request is turned down, don't take it personally. It's just business when someone has to say no. "As painful as that is to hear, it's not a statement of your worth," McIntyre emphasized. When making a pitch, sustain your counterparty's interest every step of the way until you reach the pre-approval stage. When you present information or respond to queries, pay at- tention to detail. Document what is happening in your business using tax reports, insurance documents, project management software, and so on. Stay focused and be consistent. Be clear about what you are asking for. Learn how to speak finance and banking. Find mentors. Keep in touch with people. Ask for introductions and help and be sure to follow up. You can even send out handwritten notes, suggested McIntyre. Re- member what the other person wants and center that in the con- versation. Understand that it takes time to build a good network. Practice, ask for feedback, and get better.

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