This is our second episode of the She Runs It Panel Discussions, and we talked about Debt Free Funding for your business, and what it means to fund your enterprise. Our panelists have expertise in the areas of crowdfunding, small business grants, venture capitalism, and all of them are passionate about social impact in sustainable, scalable ways.
Click here to listen to the discussion >>
Listen in to get an in depth look at what it takes to apply for funding, why it’s important to think of the long term big picture for your business, how to scale up responsibly, and achieve sustainability. We also talked about what it means to be a woman of color in this very competitive space.
Included below are show notes, read-along transcript, and contact information of all the panelists.
Key Points from this Episode:
Sustainability for Social Entrepreneurs, Community Engagement
- [6:15] Melinda shares how sustainable practices can help business and organizations stay not only viable but profitable for the long term
- [8:58] With crowdfunding, Khalida talks about starting with the basics, like what to fund and why, how to connect with your customers, and engage with them in order to build a scalable business
- [12:12] Shakeara explains how minority organizations should look at the necessity of their ventures and programs towards legacy building
Responsibility toward Funders and Investors
- [16:00] Melinda and Khalida discuss how to avoid appearing like a risky investment, and instead focus on the returns for the funders
- [20:12] Shakeara expands on the idea of starting small, building up a track record, and building sustainability year after year
Funding for Social Impact Causes and Nonprofit Spaces
- [20:34] Melinda, Khalida and Marie dive into the education gaps regarding available sources of funding, and how being on the social front can make or break a campaign
- [31:00] Shakeara talks about the importance of tracking data, recording successes and failures, and iterating organizational processes
Equity Funding through Investors and Stakeholders
- [32:29] Melinda expands on how equity investment works, and how it can be used as a potential pre-step to getting a venture capital fund
- [36:05] Discussion about various types of investors, with different strategies, and expectations of outcomes for the stakeholders
Rewards-based and Donation-based Crowdfunding
- [39:02] Khalida goes deeper into some crowdfunding campaign strategies that don’t involve investors
- [40:04] Examples of MVPs (minimum viable products) that can be started small through crowdfunding to assess viability
- [44:38] How social capital can play a big role in the continuity of a product
Timelines and Communication for securing Grants and Funding
- [47:24] Shakeara talks about the grant proposal writing season for educational grants and summer requests
- [49:44] The importance of continual communication with investors, social backers, and potential customers
Being a Woman of Color in the Venture Capital space
- [56:24] Discussion about Project Diana, Beyond the VC Venture Funding gap study
- [1:02:02] Specific examples of venture capitalists who support people of color, women of color and LGBTQ business owners
Initial Steps to get started with Crowdfunding and Grant funding
- [1:05:44] Having a program, getting clear about what needs to be funded, having a proof of concept
Wellbeing of Social Service Providers and Changemakers
- [1:11:51] The panel discusses the importance of the mindset of an inner wellbeing in order to take care of basic needs, feeling mentally strong and emotionally stable
- [1:16:22] Supporting the community to invest, grow and generate VCs in our own space
Please visit and say Hello to each of the Panelists:
Melinda Jackson, Social Impact Coach
WEBSITE: www.melindamakeschange.com
FACEBOOK: Melinda Jackson | Facebook
INSTAGRAM: www.Instagram.com/melsworldtravels
EMAIL SIGNUP: https://mailchi.mp/4cdb0c9f240b/emailsignup
PODCAST: https://anchor.fm/peoplemakingthingsbetter
FREE FACEBOOK GROUP: https://www.facebook.com/groups/Servicecentereddreamlife/
Khalida Dubose, Founder and Owner, Crowdfund Savvy
WEBSITE: Under reconstruction
INSTAGRAM: https://www.instagram.com/khalida_dubose/
FACEBOOK: https://www.facebook.com/Khalidajd
TWITTER: https://twitter.com/KhaBose
LINKEDIN: https://www.linkedin.com/in/khalida-dubose-l-i-o-n-b5ba55180/
Shakeara Mingo, CEO and Founder, Focused Vision Consulting
WEBSITE: www.focusedvision.net
FACEBOOK: https://www.facebook.com/shakeara.mingo
TWITTER: https://twitter.com/FocusedVisionC2
Download the Transcript
