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Analyzing Scorers: Their Details

Analyzing Scorers: Their Details

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Analyzing Scorers: Their Details

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  1. Analyzing Scorers: Their Details VAPG by: Carl Rainey DATCP, 608-224-5139

  2. Overview • Basic problem areas • Business viability • Customer base/Increased returns • Commitments of Support • Management Team/Work Force • Budget/Narrative

  3. If you build it, they will come.... • It sells great at the local farmers market.... • My family loves it.... • The local Extension service featured it.... • I’ll build a web site...... If it was easy, you wouldn’t be sitting here trying to figure it out!

  4. And the Verdict is...... • Sometimes it’s the luck of the draw • Sometimes it’s lack of attention to detail: • 424A • Requested amount does not add up correctly • No match recorded • Incorrect match (not real match) • TOC: Missing sections

  5. And the Verdict is...... • Project Budget Expenses • Not eligible expenses • Construction • For future, not past expenses • Planning included W/C expenses • Pro Formas • Include monthly/annual cash flow, income statements, and balance sheet • Must be for future (used calander year) • Verification of match: ending balance => cash match

  6. Criterian i-Business Viability. • More detail needed • Cost • Units: number needed and growth • Revenue increase • Number of customers • Where are potential customers • Goals: not discussed • Long-term feasibility: not discussed • Marketing/Sales procedures not discussed • Feasibility study – study not for this project

  7. Criterian ii-Customer Base • Competition: not addressed • Narrative lacking on financial statements • Marketing campaign: outcomes not discussed • Many comments: no who, what, and where • Revenue back to farmer/producer • Lacking LOC from customers

  8. Criterian iii-Commitments of Support • Lacking community endorsements • Lacking potential customer letters • Lacking end-user commitment letters • Intended purchases • Pending contracts • Some applicants used “form” letters • Customer support letters do not match project

  9. Criterian IV-Management Team/Work Force • Lacking new labor “source”-where is it? • Lacking details about management gap – how will it be satisfied? • Expertise does not match position • Lacking details about skills and capabilities • Education level not mentioned • Positive labor treatment got “rave” reviews

  10. Criterian V - Budget/Narrative • Lacking of justification details • Outcomes missing • Narrative does not match budget – numbers do not match (attention to details) • Budget did not present details: • Tasks • Timelines • Funds • If major focus is marketing, then budget should be used on marketing efforts

  11. Conclusion • Every point counts • Pay attention to $ requested per producer • Use a “third party reviewer” • Conflicting data kills scores • Scorers bring different areas of concern to the table – they are not all the same • Luck is a player, but eliminate concern areas as much as possible