Before You Start
Getting your financial ducks in a row before jumping into entrepreneurship isn't just smart—it's essential. Here's what you need to know before diving in.
Financial Health Check
Before embarking on your entrepreneurial journey with Grevora, you'll want to make sure your personal finances are in good shape. I've seen too many folks dive in headfirst without checking the water depth—don't be one of them!
- Calculate your current debt-to-income ratio—aim for less than 36% for optimal financial flexibility
- Set aside 3-6 months of living expenses in an emergency fund—you'll thank yourself later when unexpected costs pop up
- Review your credit score and address any issues—a score above 700 will open more doors for business funding
- Gather at least 12 months of personal bank statements and tax returns
- Create a personal budget that accounts for reduced income during your business's early stages
- Check if you have adequate health insurance coverage that won't disappear when you leave your current job
Remember: Your personal financial health directly impacts your business's chances of success. I once worked with a client who skipped this step—let's just say it made those first few months much harder than they needed to be.
Business Planning Essentials
Got a great business idea? Fantastic! But before you rush to our team, take some time to sort out these basics. This prep work will make our consultations much more productive.
Business Model Canvas
Sketch out your basic business model using the popular Business Model Canvas framework. This one-page document will help clarify your value proposition, customer segments, revenue streams, and cost structure.
Learn MoreMarket Research
You don't need a fancy market analysis, but some basic homework goes a long way. Who are your competitors? What's your target market size? What problem are you solving that people will pay for? Jot down your thoughts.
A rough estimate of your potential customer base and what they might pay for your product/service is incredibly helpful for our initial conversations.
Learn MoreStartup Costs Worksheet
Create a simple list of all the expenses you'll face when starting up. Include obvious things like equipment and office space, but don't forget the hidden costs—legal fees, insurance, licenses, and that period before revenue starts flowing.
Even a rough estimate helps us craft a more realistic financial plan for your business.
Learn MoreGet Your Mindset Right
Starting a business isn't just about the numbers—it's about preparing yourself mentally for the journey ahead. The most successful Grevora clients share certain mindset qualities that help them navigate the inevitable ups and downs.
When I think back to the hundreds of entrepreneurs I've worked with, the ones who thrived all had a few things in common. They weren't necessarily the ones with perfect credit scores or massive startup capital—they were the resilient ones who could adapt when plans went sideways (and plans always go sideways!).
- Assess your risk tolerance honestly—entrepreneurship involves uncertainty that not everyone is comfortable with
- Consider how you react to setbacks—resilience isn't optional in business
- Reflect on how you handle difficult decisions—you'll be making plenty as a business owner
- Evaluate your support network—having people who understand what you're going through makes a world of difference
- Be honest about your knowledge gaps and prepare to learn continuously
Take some time for self-reflection before our first meeting. What are you excited about? What scares you? This self-awareness will help us customize our approach to your unique situation.
I came to Grevora thinking I just needed funding, but they helped me see I wasn't mentally prepared for the reality of entrepreneurship. Taking time to get my mindset right before jumping in saved me from what would've been a costly false start. Now my business is thriving, and I'm actually enjoying the journey!
Sarah Miller
Boutique Owner, Melbourne
Ready to Take the Next Step?
Once you've completed these preparation steps, you'll be in a great position to begin your journey with Grevora. Our team is ready to guide you through the next phases of turning your business dreams into reality.
Contact Us TodayStill Have Questions?
We're here to help clear up any confusion before you begin. Here are answers to some common questions.
Do I need perfect credit to start?
Not at all! While good credit helps, we work with entrepreneurs across the credit spectrum. What matters more is transparency about your current situation.
How long does the initial process take?
For most clients, from first contact to having a workable financial plan takes about 3-4 weeks. But hey, every situation is unique—yours might move faster or need more time.
What if I'm not quite ready?
That's completely fine! There's no rush. Take the time you need to properly prepare, and we'll be here when you're ready to move forward. Sometimes a bit more preparation makes all the difference.