We’ve teamed up again with the brilliant Today at Apple team on the Made for Business event series, helping business owners and aspiring founders thrive.
In this first toolkit, you’ll find the top takeaways and resources from the inspiring founders who joined us for event 1 ‘How to Fund Your Business’.
The toolkit is perfect for anyone at any stage of their business growth; from side hustle to scaling, freelancing, or even if you’re just starting out and not sure where to start.
For more tips, advice and a community of other founders, side hustles and entrepreneurs, we’d love you to join the Made for Business community on The Dots. Let’s keep the conversation going!
Other toolkits in this series:
– How to Build a Sustainable Business
Charlotte Stavrou – Founder & CEO of SevenSix Agency
Charlotte's Top Tips
1. Explore diverse funding options
It's crucial to explore various funding avenues – and the good news is that there are a bunch of options out there including small business loans and grants. One thing to consider though is that while small business loans can be a viable option, they come with risks, including the inability to secure another loan if the first one fails. As for grants, look into ones tailored for specific demographics and niches, such as those for creative businesses, women and people of colour.
Pro tip: A list of grants can be found in the Made for Business club here
2. Build a strong advisory network
Mentorship and having a strong advisory board are invaluable! Having mentors and advisors can provide guidance and open doors to new opportunities. Charlotte benefitted a heap from an advisory board provided by Be The Business, which offered invaluable support and insights that helped her navigate the challenges of running a business.
3. Leverage community and networking
Engage with your community and network actively! Attend events and ask peers how they are funding their businesses. This approach not only provides practical insights but also builds a support network that can offer advice and resources. Win-win!
Pro tip: Join the Made for Business community for advice & support here
Charlotte's Top Resources:
Podcasts:
– The Matt Gray Show
– Working Hard, Hardly Working (Grace Beverly)
– The Diary Of A CEO with Steven Bartlett
Apps:
– Notion
– Xero
– Pinterest
Books:
– Traction: How Any Startup Can Achieve Explosive Customer Growth by Gabriel Weinberg & Justin Mares
– For the Culture by Marcus Collins
– SYSTEMology: Create Time, Reduce Errors and Scale Your Profits with Proven Business Systems by David Jenyns
Josie Naughton – Co-Founder & CEO at Choose Love
Josie's Top Tips
1. Persistence is key
Persistence is crucial when seeking funding and support, but be prepared for the long game; Josie reached out to people repeatedly over the years and eventually secured their help. This persistence can turn initial rejections into future opportunities, as relationships and trust build over time.
Pro tip: We’re hosting an event on building persistence and improving your mindset soon. Follow the Apple page on The Dots for updates here
2. Embrace failure as a learning tool
It’s a tricky lesson to learn, but try not to fear failure. Instead, see it as a valuable learning experience. Failures often provide critical lessons that contribute to eventual success. This mindset helps you remain resilient and continuously improve your strategies.
3. Diversity of income streams
Josie highly advises maintaining diverse income streams, as relying on a single source of funding/income can be risky. By diversifying, you ensure more stability and resilience, making it easier to weather financial challenges and changes in the market.
Josie's Top Resources:
Podcasts:
– I Weigh with Jameela Jamil
– Diary of a CEO
– The Rest is Politics
Apps:
– Headspace
– ChatGPT
Books:
– How to Lead Nonprofits: Turning Purpose into Impact to Change the World by Nick Grono
– The Power Of Now by Eckhart Tolle
Susan Allen – Co-founder at Here We Flo
Susan's Top Tips
1. Careful resource management
Manage your resources carefully, especially in the early stages of running your business. Be frugal and maximise the use of available funds to grow sustainably. This approach allowed Susan to build a solid foundation without financially overextending.
2. Innovative marketing strategies
Think outside the box! Creative marketing strategies can help you stand out and be a cost-effective way to promote your business. Susan suggests providing products for goody bags at events (if applicable to your type of business) and leveraging partnerships with other companies. This helped her gain exposure and expand her customer base without significant cost.
3. Understand your funding sources
Be aware of the potential pitfalls of seeking venture capital (VC) funding. VCs often prioritise high returns over the founder’s vision, which can sometimes lead to conflicts. Thoroughly understand the motivations and expectations of any funding source to ensure alignment with your business’s goals.
Susan's Top Resources:
Podcasts:
– How I Built This with Guy Raz
– Scratch: CMO Interviews
– Working Hard, Hardly Working (Grace Beverly)
Apps:
– Slack
– Speechify
– Notes
Books:
– The Hard Thing About Hard Things by Ben Horowitz
– Outliers by Malcolm Gladwell
– Slay In Your Lane by Elizabeth Uviebinené and Yomi Adegoke
Stay tuned for updates on more sessions by joining the Made for Business community on The Dots!
And if you’re looking for some help choosing the perfect tech to suit your business needs, the lovely Apple Business team is on hand (plus they can share handy financing options to fit your budget!). If you’re keen to have a chat with them, simply head this way.
Love podcasts? Explore the growing list of recommended podcasts from all the speakers in this series.
Companies
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