How West Oakland Financed Its Own Grocery Store – The Bottom Line
Too often, women are overwhelmed and/or intimidated by dealing with the financials in their business. What we want to do at Fund & Fuel Your Dreams, is show you how you can raise capital without giving up control, transform your business, and feel confident and inspired to “Play Big.”
I was at a great event last week called Food Funded. Kate Danaher of RSF Social Finance was speaking on a panel and said that she meets too many entrepreneurs who tell her that they have certain goals for their business but they have already raised money from investors in a way that is completely inconsistent with their goals.
A few years ago, I started telling entrepreneurs that they need to raise the Right Money from the Right Investors because I was seeing something similar to what Kate was talking about.
The Right Money means that the type of investment you are offering is designed so that your investors‘ interests and expectations are aligned with yours. For example, if you offer equity and never plan to pay any dividends, your investors are likely to expect you to sell the business as quickly as possible so they can get paid. If you don’t want to be pressured to sell the business before you’re ready, you should offer something different!
The Right Investors means that your investors share your goals and values, as well as your vision for the future of your business. They won’t pressure you to take things in a direction that doesn’t feel right to you.
Unfortunately, there are still far too many entrepreneurs that (usually inadvertently) take on the wrong money from the wrong investors.
If you are thinking about raising money for your business, I would love to talk to you about your strategy. My Women Raising the Right Money from the Right Investors mastermind program summer cohort is starting soon. If you’d like to learn more, click here.