MWH 134 : Starting A Business – Should You Self Fund or Get Investors? With Carrie Kwan of Mums & Co

Starting A Business - Should You Self Fund or Get Investors? Did you know many mamas give up starting their business because of how daunting the process is? Sad but true, and writing that sentence literally breaks my heart. #InsertCryingFace I never want you to feel as if you shouldn't go into business. If you have a dream, you should achieve it and I'm going to try my hardest to ensure you do! This week, I've invited a special guest onto the podcast to chat all about succeeding through the start up phase and sourcing the funding your biz needs to thrive. LET'S GET INTO IT Ooh, today's episode is going to be a good one for the mums listening who are just hoping to start their business and want to know all about getting investors and raising capital for your biz. Today we're talking money, honey. Today's guest is Carrie Kwan the Co-Founder of Mums & Co. She is deeply passionate about inspiring women, particularly mums, to realise success in their business. Carrie founded DailyAddict.com.au, a digital lifestyle guide in 2008 which was shortlisted for Mumbrella Readers Choice Awards and has grown to over 100,000 followers. During this episode, Carrie is going to share some hot tips and strategies to help you navigate the start up journey, understand the different ways to source a cash flow, and secure a loan or investor for your biz so you can hit the ground running. So, let's all give a warm welcome to Carrie! THE RECAP This episode was such a great and empowering conversation to have. I hope you have your pen and paper handy because Carrie is going to give you so many tips, strategies, and terms to research that your head might spin from all of the content coming your way! 1. Introducing Carrie! Carrie is a peer of mine, and I'm so excited that she took the time to come onto the podcast to chat about some pressing questions you may have regarding funding your biz. Key Points We Discussed: Who is Carrie Kwan? What is Carrie's biz journey? How did Carrie found Mums & Co? 2. Your Start Up Journey The start up process can be seriously daunting, especially for mums who have minimal opportunity to work on their business. A common question my tribe asks is what should they focus on first, invest in first, do first, when everything seems important but time is and money is lacking? Carrie is going to dive deep into what you should be focussing on first in your start up journey! Key Points We Discussed: How to navigate the start up journey? Why you should keep chipping away at aspects of your biz? Believe it is possible. Lean in to the discomfort. What should you focus on first in your start up journey? Find your why Think about a business plan Take an MVP approach Surround yourself with a personal AND business network Stay focussed and always focus on your customer and the problem you’re trying to solve - be obsessive! 3. Sourcing A Cash Flow When starting a business you need some money, and there are always a ton of terms thrown around making the funding process even more confusing! So, in this section Carrie is going to give it to us straight and tell us how to source a legitimate cash flow. Key Points We Discussed: How are financial concerns a major barrier to launching a biz? How should a mum turn an idea into a commercial business? What funding opportunities are available to mums? Angel Investors Grant Opportunities Loans 4. Attracting Investors Attracting investors could seriously help your business take off! Carrie's going to share her tips and strategies to help you attract your ideal investor. Key Points We Discussed: In what ways can a bizmum attract investors? Know what type of investor you want to get into bed with Make it known to everyone that you’re seeking capital (friends, neighbours, your accountant) Get your pitch pitch perfect WRAP UP If you have ever wondered - How do I fund the start or growth of my business? Can I raise capital? Will others invest?