Proving Your Concept – to Blog Readers or Banks

At a recent Westfield Chamber of Commerce meeting, I heard Spencer Russell of the American Bank of Freedom talk about his work with applicants for SBA loans. All too often, Russell lamented, individuals asking the bank for Small Business Administration-backed loans fail to qualify for help simply because they fail to prove their concept and communicate their “Why”.  Since “proof of concept” is precisely what we help our Say It For You clients achieve through content marketing, it seems natural to review the salient points of Russell’s presentation….

“Many buyers of a business applying for SBA financing simply don’t know how to tell their story, addressing things bankers need to know,” Spencer Russell laments. Too often, he points out, a handsomely bound, pages-long printed submission leaves bankers wondering why the most key questions have gone unanswered:

1. Exactly why is your new franchise or business formation going to work?
2. What in your past work history demonstrates experience relatable to – and transferable to – this new industry or enterprise?
3. Just why might you be a good risk for the lender?
4. What training have you had or plan to have by way of preparing yourself to handle this new venture?
5. Are your projections based on historicals?

As content writers, we are telling the story of a business or a practice to consumers, framing that story in a way that addresses precisely those things online readers need to know.

In order to “prove the case”, a business owner can use:

• factual proof – statistics about the problem this product or service helps solve
• reverse proof – comparing one’s product or service with others on the market
• credentializing proof – years of experience, honors or awards, degrees earned
• evidential proof – clinical trial or field test results, testimonials from users

Just as it’s important for loan applicants to prove their concept and explain their “why?” to the bank, business and practice owners can use content marketing to prove to online searchers that they’ve come to the right place to find the precisely the products and services they need.

*For more information about American Bank of Freedom and SBA loans, contact srussell@myamericanbank.com or call 636 384 0182.