How to Navigate Business Funding for Startups; Finding the Right Hire at Every Stage; Is Your Startup VC-Backable? with Barbara Clarke, co-founder The Impact Seat LLC
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Welcome to your Weekly Traction Briefing, where we break down how to Get Sh!t Done and grow your business. If this briefing is helpful to you, share it with your friends so they can grow with you & thousands of other entrepreneurs.
🍵 THIS WEEK'S TEA
If I weren't my Valentine, Rihanna would be. Was that Superbowl performance my fave? Nah. But homegirl got up on a floating stage and basically said - since y'all are not going to get an album, you can watch me look fabulous and pregnant AND run up those streams 640% to my bank account. If that ain't queen behavior, I don't know what is. Office spaces are getting their a**es handed to them in places like New York, Chicago, and San Francisco. Workers are spending THOUSANDS of dollars less from not going into the office. TBH - I don't feel bad 🤷🏽♀️ People can barely afford to breathe in these cities. Save them coins and reinvest office rent back into your biz, babe. Speaking of real estate - "Adam Neumann is not interested in doing the hard work of building value" - Scott Galloway responded to Neumann's new company that is literally just apartment buildings re-packaged as "ownership". Boy oh boy, does "charisma" get ya far in life. JLO created a female empowerment cruise. What ya think? I don't know about you but, you can't pay me to be stuck in the middle of the ocean and seasick. But I ain't mad at it. Get that paper, Jenny. Get that paper 💸
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👑 Founder: Barbara Clarke | Company: The Impact Seat LLC | Location: Boston, MA
🧾 Receipts: With a background in economics and helping businesses thrive, Barbara is an investor who has made most of her money the old fashioned way - buying low and selling high. She now mostly seeks capital efficient companies solving a big problem which may be undervalued.
💸 HERE'S YOUR TRACTION BRIEFING
How Founders Can Find The Right Hires
Hire for Your Company's Stage - "I really think the biggest hiring mistake entrepreneurs make is hiring that person from famous large company. They think that they’re going to get all that experience and they don’t realize that that person’s success was built upon a massive infrastructure at that company." - Barbara Clarke Finding the right people for your team means hiring for your company's current stage - whether you need a go-getter for a startup or a seasoned pro for an established enterprise! HERE is how Barbara recommends you do this.
🛠️ MORE TOOLS TO GET IT DONE: Learn how to scale hiring for an early-stage startup HERE.
🤗 JOIN THE COMMUNITY: Ready to grow your revenues consistently? Want access to the right people & expand your network? Tired of going at it alone? Join our community membership waitlist here.
How Founders Can Make Their Startups VC-Backable
Learn What Successful Players In Your Industry Have Done - By learning from successful players in your industry, you can gain a deeper understanding of what investors are looking for and what it takes to succeed in your market. Whether it's building a strong business model, developing a compelling value proposition, or cultivating relationships with key stakeholders, studying the successes of others can provide valuable insights and help you position your startup for success. HERE are more insights into how you can make your startup VC-Backable.
🛠️ MORE TOOLS TO GET IT DONE: Learn how funding works HERE.
Other Financing Options Available To Startups (Apart from VC).
Focus on Customer Funded Revenue - "It’s not one-size-fits-all. Taking that risk capital is not going to be the only source of capital you’ll need." Who needs VCs when you've got customers? By generating revenue from paying customers, startups can prove their business model, maintain greater control over their operations, and avoid the pressure to scale too quickly. Plus, since it doesn't involve giving up equity, customer-funded revenue lets founders keep more of their business and grow at their own pace. HERE are other financing options available to startups.
🛠️ MORE TOOLS TO GET IT DONE: Learn how to know which funding options are right for youHERE.
RSVP TO THIS MONTH'S TRACTION TRAINING
Thursday, Feb 16th @ 6pm: How to Tap Into The Power of Connection for Business Success. RSVP
Tuesday, Feb 21st @ 12pm EST: How to Develop Partnerships & Accelerate Revenues. RSVP
Wednesday, March 1st @ 6pm EST: How to Apply for Grants & NOT Waste Your Time. RSVP
THIS WEEK'S GROWTH GUIDE
The pros and cons of VC and if it is the right funding vehicle for your startup.
Learn how to scale by mastering different growth channels in the Traction Library.
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With Love & Impact,
Alex Batdorf
Chief Get Sh!t Done Officer