The purpose of this message is to articulate what we feel is the minimum requirements for capital infusion from The ULECx Market into a start up or rising company. Ultimately we feel these criteria are the keys for success.
1) Credit Score - The average personal credit score is 687 with the best being 723 or higher as they have a 5% or better probability of delinquency.
2) Culture builders - Must be committed to utilizing their company as an outlet of The ULECx four core values love God, love people, pursue excellence, and choose joy. We are looking for business owners committed to building staff committed to these four core values and pour them into the market place.
3) Cash Cow - Must have what I call a cash cow out side of the business that supports the personal financial needs of the owner
4) Two Feet in - The primary owner is 100% committed and vested into the business. Has no commitments on his or her time to any other business or projects outside of personal endeavors. If married that the spouse although not involved in the business is 100% committed to the success of the endeavor.
5) In Demand - their is a high probability that the service or product rendered is a need of come defined base of consumers
6) Market Demographics - a market demographic study has been completed and a well grounded knowledge of how many customers are available. A list of each potential client, including, name, phone #, email, is very helpful.
7) Personal commitment to Marketing and Sales - the owners commitment to the marketing and sales process must be priority number #1
8) Attractive Logo & Brand Presence - an attractive logo that has distinguish the brand is extremely important. Building great market material and online presence around that brand is key
9) Strong delivery - strong operational systems to deliver promised services or goods on time and meets customer expectations every time
10) Hiring Pipe Line - has a strong system of producing a strong hiring pipeline to help keep the company growing
11) Cash Only Policy - requires little to no debt to launch the business. If debt is required a clear plan to pay off the debt within 1 - 3 years is best
12) Significant start up cash on hand - it takes a minimum of $10k to truly launch any enterprise. To include cost for legal incorporation, accounting, and marketing. Does not include build out and other cost related to equipping the company.
13) Multi-million $ in production - company must be able to project the ability to grow to at least a multi-million dollar revenue producing company with at least state wide reach. Nationally if possible.
14) Partnership - having one additional close partner is highly valuable. A key manager with vested interest in the business is great aspect of success. A married couple will suffice, however a partner not sharing the same household is an even great advantage
15) Infrastructure - a commitment and proven dedication to excellent back office administration in the Seven Lanes
16) Pricing structure - the owner has a pricing structure that includes enough space for profit, his wage, manager (franchisee) wage, employee wage, and overhead
I am sure their are other criteria we will add over time but this is what we can think of at the moment
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