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Funding, Business Development Alex Batdorf Funding, Business Development Alex Batdorf

How to Raise $11M in 16 Months Post-Launch through Community with Betsy Fore, Tiny Organics

Learn how raise capital and build community with Betsy Fore.

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Founder: Betsy Fore | Company: Tiny Organics | Location: Chicago, IL

Dayyuuummm, girl! That's exactly how I felt when Betsy Fore, founder of Tiny Organics told me how quickly she was able to raise $11 Million in 16 months after launching!

Raising money is hella hard.

Raising a Series A is even HARDER, especially since many women founders don't make it past seed. Actually... who are we kidding? Women founders on the VC-track are barely getting pre-seed and seed funds.

My girl Betsy not only did it but is the first Indigenous woman EVER to raise Series A.


Problem

Only 10% of children are getting the recommended veggie servings per day and the majority of that is through French fries. Only 12% of American adults are metabolically healthy while 50% of adults are considered sick. I don't know about you but I'm jetting to the store to grab more veggies. BRB.


Solution

Baby and toddler meals created by Baby Nutritionists with fresh, nutrient-rich, &  palette expanding recipes. Seriously - we're kind of jealous of the babies ;)

From the Reservation to Toy Inventor to 100 Million Users w/ the founder of the Calm App to Wearables for Dogs.


Betsy had NO background in food. She actually got her start as a toy inventor. She's basically the Indigenous Thomas Edison. She then helped the founder of Calm grow his previous venture to 100 million users before building her first company, WonderfWoof to create wearables for dogs. She launched that company with a $50k grant then it was acquired 8 years later. Here's WHY this matters - like the founder of Calm - founders who raise a butt load of money quickly AND early, typically check one or more of these boxes: has a previous exit, grew another startup, employee #X at a high growth company (think of Paypal Mafia), trust fund (this is actually less likely contrary to popular belief), etc. Here's the thing - institutional investors are trying to derisk the investment as much as possible because early-stage companies are inherently risky. If you have no prior experience that signals you can be successful - you're probably not getting that much money that fast UNLESS you have TRACTION. The GREAT news is that Betsy breaks down how she launched both of her companies without funding initially from grants to personal funds.  

Who You Know Matters.


We gotta start being real about startup success. Who you know matters. PERIOD. It's really annoying to make it seem like a founder with a Harvard network was scrappier than the state school kid. Nah. The quicker you can fill degrees of separation, the easier it is to get things done. Betsy identifies the #1 ways to build meaningful relationships - telling your story. But what if you don't have the network? Learn how Betsy broke down network barriers to form relationships with the founder of Calm, founder of Build-a-Bear, etc.

Growing 500% post-launch


We've said it before - traction makes everything else irrelevant. There's no silver bullet to growth. Instead, there's a series of experiments that teach you what to lean into for growth. Betsy made community core from the beginning and experimented products with 100 families prior to launching. This led to co-creating what the market wanted and building in customers who boosted the brand to drive 500% YOY growth post-launch. With those numbers, investors will flock to you. Learn how Betsy ran experiments with her community.


Community is Key to Organic Growth & Product Market Love <3


Her focus on community organically grew the company into a multi-million dollar empire in less than 2 years (pre-funding) That initial test with 100 families not only drove revenues but also partnerships. Communities are powerful marketing engines! Each community member is a walking build board when you are solving a need and serving them with care.  This landed her partnerships with Michelle Obama's organization and landed her on Oprah's Favorite Things. Judith also breaks down how creating product market love helped her raise $130M. I think they're on to something ;) Learn how to leverage community to grow organically and build lovable products.

Pathways for Indigenous Founders.


We truly believe women are major to scaling impact and Betsy is living proof of not just growing for growth's sake to get "unicorn" status but rather growing for impact and lifting as you rise. In just 2 years of being in business, Besty and 2 other Indigenous queens are funding other Indigenous founders because true queens create more crowns. Follow her for updates.

Final Take - Community is the New Moat


Let's be clear - randomly starting a Facebook, Slack,or Discord group that no one asked you for is not the business! Community is all about intention and it's hella work. If you're like me (when I actually had a Facebook) you get invited to so many groups and side-eye because 90% aren't adding value. If you feel community is the way to go, get the full breakdown below. We've also listed Traction Tools below to help you build community with intention.

TRACTION TOOLS: How to get it done...
Here are some tools that will help you grow with community.

Community Growth Myths: Hint: Communities do not run themselves.  

  • "Call your girlfriend Customer" (Robyn voice) Too often, founders build without checking in with their customers consistently. When was the last time you spoke to your customer? If you had to think about it, you're not talking to them enough. Put together a list of 5-10 of your top customers and reach out to them to schedule quick 15-min calls to get feedback. Here are some questions to ask and here are some incentives you can offer.TIP: Consumers lie to themselves often. This is why sending surveys don't always get to the heart of their needs. So start dialing!

  • How to Become a Better Listener - before you get on the phone, you'll need to listen better instead of searching for what you think is the answer. Learn how.

MONEY MOVES: State of Funding

Why Women STILL ain't getting the bag: "VCs are more comfortable hosting events dedicated to helping underrepresented founders than actually funding them... Instead of writing checks, investors engage in so-called virtue signaling, observed these frustrated entrepreneurs." Among many other reasons. Investors - stop wasting founders' goddam time. We need transparency. Be honest about where you stand and give feedback when you can. Don't be a f**k boy/girl/person. Women Founders - Focus on building traction instead of waiting on a check. Your best investor will ALWAYS be your customer.

  • Where Women Founders are Gaining Ground in VC: This is a dope interactive article that shows you what cities and verticals are picking up steam

  • Learn How to Fundraise from Outreach to Closing Checks here.

  • Turn an Investor "No" into a Yes: Yep. It's possible and necessary for you to protect your time. Learn how.

IN CASE YOU MISSED IT & OTHER TRACTION TIPS....

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