Moola Hoop

Funding her big dreams for her small business. MoolaHoop is a crowdfunding platform designed to help women with small businesses reward themselves and their customers.Created by women, MoolaHoop enables women entrepreneurs to garner financial support to grow their businesses.

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Sarah Shaw Interview: Founder of Entreprenette

With experience in everything from working on movie sets to launching her own handbag line, Sarah Shaw realized that she wanted to share her successes and failures with other entrepreneurs so that they could learn from her ups and downs. And so, entreprenette.com was born. The goal in founding her site, she says, was to share her hard-learned, hard-earned knowledge with women entrepreneurs in order to help them tap into their inspiration and realize their dreams.

Moolahoop: Tell us a little bit about what you do. Sarah Shaw: “I coach women on starting product based businesses. We go through everything from how to conceptualize the product and make it if they don’t have prototypes already to getting the products into stores, celebrity hands and magazines.”

Moolahoop: How did you get your start in this industry? Sarah Shaw: “After graduating from college, I worked in the movie business for about twelve years. I worked in the costume department and I didn’t see my future there. I was getting bored with my job but I definitely never thought in a million years that I would be an entrepreneur. I am actually third generation entrepreneur in the US and probably 4th or 5th generation back in Europe. Both my grandmothers were fashion designers. I had no interest in being an entrepreneur and then I came up with this idea for a handbag in 1997 and I started making them at night on my dining room table. I didn’t tell anyone about it because I was embarrassed that I was even contemplating making bags when I didn’t know anything about sewing. I could hem a pair of pants but didn’t know anything about pattern making and I certainly couldn’t draw.

So here I was on my own trying to make this bag that I envisioned that was cut with pink shears and stitched on the outside so that you could see the details. After months and months of figuring out how to create it, I finally perfected the technique. I had to get up at 6 in the morning and go to different vendors and manufacturers who could do the work for me. I finally figured out how to do it and I launched my company called Sarah Shaw Handbags. In 5 years it grew to be a million dollar company. We sold to over 1200 boutiques around the country including all the major department stores. I made bags for Julia Roberts for Oceans Eleven and America’s Sweetheart. We had a bag in Legally Blonde. All of these different avenues with celebrities helped me grow the brand much more quickly because it got me a lot of media exposure and huge store sales. Nordstrom and Bergdorf Goodman bought from us once we got into all these different movies. Then after 9/11 I lost all my financing and had to close that company. In 2004, after I had finished crying the loss of my brand, I patented a closet organizer for handbags. I had a business partner at the time and we just did online sales. I wanted to start selling to stores, because in my mind that’s where the big money was but she wanted to open our own store. We ended up going our separate ways when we were unable to agree. With all my experience, people were constantly telling me that I should teach others how to launch products. It sounded the craziest idea I had ever heard. I had no idea how this concept worked and what people would be expecting from me or willing to pay me. So I hired a coach myself to teach me how to build a service-based business and I have been coaching with Entreprenette full-time ever since. I really love helping other people either create their product or tweak it or figure what their secret sauce is how they can best market it and sell it. “

Moolahoop: So what does entreprenette.com offer in terms of coaching for entrepreneurs? How successful has it been? Sarah Shaw: “I offer a combination of written and audio content. It is a 10 week program and includes private coaching. The site was really successful from the beginning. I reached my sales goals the first time out. I belonged to Ladies Who Launch, where I had been teaching for 4 years, and some other networking groups. I reached out to all of them and built an email list through these organizations.”

Moolahoop: How has social media changed your delivery and content? Sarah Shaw: “I got my first private client through Twitter, actually. I also really believe in blogging. My blog posts are the real deal and people see that I am generous with my information. I am not just talking about something that I learned how to teach. I have real world experience.

Moolahoop: Who are your customers now? Sarah Shaw: “ I just do product based businesses, whether new or existing. Many of my clients come to me and say ‘I have a product that I have been creating for about a year and now I have a whole garage full of stuff and my husband is going to divorce me if I don’t learn how to sell it. Can you teach me?’ And then there are the people who are just starting out or who are rebranding. I have several people who have shut down their companies and are relaunching with a whole new concept or a revisited concept. Redoing their website and doing it right this time. They are trying to give themselves the best opportunity to do well. Those are interesting companies to work with because they know how to do everything but need help fine-tuning.”

Moolahoop: What is next for you? Sarah Shaw: “ I am working on a book proposal. I am really excited at the prospect of writing a book and getting it published. I have read a ton of self-help and DIY start-up books. Many are written by professors who teach the topic at school but have little actual experience. These books are quite dry and technical but they don’t have the real stories of ‘this is the disaster that happened to me and this is how I survived and made a million dollars.’ My book will have real anecdotes of my experience and strong advice on how to leverage PR to get more visibility.”

For more information on business-related topics, check out MoolaHoop’s Facebook page: https://www.facebook.com/MoolaHoop1

Our mission is to help women fund her big dreams for her small business and we’d love to help you too! Start here! http://www.moola-hoop.com/

About MoolaHoop:

MoolaHoop is a rewards-based crowdfunding platform that enables women entrepreneurs seeking to raise funds for their small business. MoolaHoop enables women-owned, -managed and –led small businesses to easily engage their “crowd” of existing customers, potential customers, family and friends in order to raise funds for their business.

www.moola-hoop.com

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Crowdfunding Success Story: Alexandra Perez of Bari Studio

Originally from Caracas, Venezuela, Alexandra Perez, founder of Bari Studio, says that fitness has consistently been an important part of her life. “I’ve always belonged to gyms, liked to be outdoors and enjoyed the endorphin high of a good sweat session,” she says. After graduating from Wharton at the University of Pennsylvania, Alexandra immediately took a job in financial and management consulting in the oil and gas industry. Constantly traveling (mostly internationally), fitness became a grounding force for her. A frustration with the set of workouts available to her and a desire to tone her body in new ways eventually led Alexandra to craft her own fitness regime which would come to be known as the Bari method. Now, what started as a small workout class in an NYC studio, has grown to a fitness craze with a cult following and studios in California, New Jersey and New York. Here, Alexandra talks the ups and downs of starting your own company and how crowdfunding shaped her business.

Q: What prompted you to start your own fitness method? What is unique about your program?

A: While working in consulting, I found myself balancing a million different workouts in order to look and feel the way I wanted. I would go for a run one day, do a weights class another day, do pilates another day, try to hit the elliptical another day. The thing is, I didn’t look or feel the way I wanted. I wasn’t getting enough cardio or muscle sculpting because I couldn’t find a method that offered the right recipe, especially if I only had a limited amount of time each week to dedicate to my workouts. I decided to take my fitness plan and my body into my own hands and little by little started crafting what Bari’s method would become. That’s how our method became multidimensional - combining the right amount of cardio with purposeful muscle sculpting - to ensure a smart, strategic and uniquely effective workout every single time you step into the studio. You’ll never leave Bari feeling like we missed a part of your body; you’ll never leave Bari feeling like you need to do more.

Q: What were some of the challenges (expected or unexpected) that you faced in starting your own business?

A: In my opinion the biggest challenge that start-ups face is finding the right talent. I believe you can build a company and brand that attracts the right people, but I don’t think that’s easy to do, especially not at the beginning when you’re going through major growing pains. I was incredibly fortunate to find my two main company directors very early on, and I don’t think I could have grown Bari to where it is now, or kept my sanity, without them. I would encourage entrepreneurs to try to get this right from the start and really care about the people more than anything else. My mother once told me, “your business will always give you a second chance, people will not.” I’m glad I listened.

Q: What led you to crowdfunding?

A: We’re community driven at our core - Bari is named after an indigenous tribe in Venezuela - so calling on our tribe of clients, friends and even strangers who believed in what we were doing held so much more meaning than any other approach to fundraising. 

Q:  Tell us a little bit about the process of building and running your campaign.

A: We needed $5,000 to trademark our brand. That amount seemed exorbitant at the time and we just didn’t have the cash to invest, so we turned to you guys and the experience was more than we could have asked for. We carefully chose rewards by putting ourselves in our client’s shoes - and then actually asking our clients for feedback. “Would you be interested in this?” If there was any hesitation, we removed it from the menu immediately. Throughout the campaign we were very verbal about it in the studio and made sure everyone who was part of the Bari tribe knew what we were doing and understood why. It was incredibly exciting to watch people jump in to help.

Q: What are some of your tips for running a successful campaign?

 A:

Never sit back and watch. Be an active participant of your campaign online and offline

It’s OK to get creative with your prizes - but don’t get so creative that the prize loses real value

Make sure your audience knows why you’re crowdfunding. Why do you need what you need? The more you can connect with your audience in a meaningful way, the quicker they’ll give and the more they’ll give.

Q: What’s next for Bari?

A: We’re doing great and keeping ourselves busy! We just expanded to two new locations - Newport Beach, California and Summit, New Jersey - and we’re so excited to bring Bari to these communities. We’ll continue to expand over the next few years. In the near future, we’ll be rolling out some very exciting multimedia and digital offerings that will allow people to access Bari from anywhere in the world.

Q: How do you sneak in a workout with all the work of running a business?

A: I’m just like everyone else who struggles to squeeze in that daily hour of sweat; I have to schedule my Bari workouts just as I would any other meeting or else they don’t happen!

To check out the Bari method and learn more, visit http://www.thebaristudio.com/

For more information on business-related topics, check out MoolaHoop’s Facebook page: https://www.facebook.com/MoolaHoop1

Our mission is to help women fund her big dreams for her small business and we’d love to help you too! Start here! http://www.moola-hoop.com/

About MoolaHoop:

MoolaHoop is a rewards-based crowdfunding platform that enables women entrepreneurs seeking to raise funds for their small business. MoolaHoop enables women-owned, -managed and –led small businesses to easily engage their “crowd” of existing customers, potential customers, family and friends in order to raise funds for their business.

www.moola-hoop.com

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MoolaHoop’s Woman We Admire: Stacey Brooks Delo, Founder

We had the opportunity to interview, Stacey Brooks Delo. She is a hardworking mom and gave us an inside look at her balancing act! 

Journalist. Connector. Passionate believer in asking for what you need to strike the right balance for yourself in the workplace. She is founder of Maybrooks.com, an online community for working moms, where smart moms – at all stages of their careers – find flexible jobs, get inspired, and connect with each other. Our tools harness the powerful word-of-mouth network among moms, and enable them to help each other find flexible careers.

Q: Tell me about a day in your life.

These days my day is beginning early as my little guy is climbing out of his bed on his own and padding around until I hear him. But in general the day begins as a family with everyone going to their various places for the day. I work between drop off and pick up in the late afternoon, then we have dinner, then I work after the kids go to bed.

  Q: Take a picture of your desk and explain why you have what you have. Is there anything there that motivates you?

I have my great-grandmother’s old typewriter. The site is named for her and it reminds me of why we started the site.

Q: How do you recover from a tough day? Is there anything that can instantly turn your day around? 

Talking to a good friend who has known me a long time and knows how to keep me motivated. Also my kids!

 Q: If you got to play “hookie” from work one day, what would be on your list of fun things to do?

Play tennis. In my dreams I’m really good.

For more information on business-related topics, check out MoolaHoop’s Facebook page: https://www.facebook.com/MoolaHoop1

Our mission is to help women fund her big dreams for her small business and we’d love to help you too! Start here! http://www.moola-hoop.com/

About MoolaHoop:

MoolaHoop is a rewards-based crowdfunding platform that enables women entrepreneurs seeking to raise funds for their small business. MoolaHoop enables women-owned, -managed and –led small businesses to easily engage their “crowd” of existing customers, potential customers, family and friends in order to raise funds for their business.

www.moola-hoop.com

[moolahoop1]

Creative Entrepreneur: An Interview with April Bowles

We had the opportunity to have a Q&A session with Blacksburg Belle founder, April Bowles-Olin. She started Blacksburg Belle to help struggling creatives turn their passions into life-sustaining careers that they’re head-over-heels in love with. She loves being her own boss and shares what makes up her day and what inspires her! 

Q: Tell me about a day in your life.

My days are always very different. It depends on what’s on my to-do list, what projects I’m currently working on and what’s going on in my life. As an example, yesterday I: woke up at 8:30am, took a shower and got ready, had a business coaching session with a stationery designer, went to lunch with my husband, went to a doctor’s appointment, worked on a blog post for about 30 minutes, walked my dogs, made dinner with my husband, read and went to sleep.

 Q: What inspires you?

I try to pull inspiration from everything: magazines, books, movies, hanging out with friends, trips to the fabric store, travel. And, of course, I love Pinterest.

Q: How did you fund your business?

I didn’t have very many startup costs. I just had to pay for my website domain and hosting. I did everything myself in the beginning, so I was able to keep costs really low. Also, I saved a lot of money from my day job before I quit to pursue my business full-time. I didn’t want to feel lots of money pressure in the very beginning. 

Q:How do you recover from a tough day? Is there anything that can instantly turn your day around?

Walking my dogs is like magic, especially if I listen to music or a book on tape while walking them.

Q: If you had a list of ‘best-kept secrets’ [websites, books, coaches] you’d recommend, which would you include and why?

Some of my favorites: B-School (Marie Forleo’s course), Mayi Carles, Michelle Ward, creativeLIVE courses, Show Your Work by Austin Kleon, Start with Why by Simon Sinek, Fascinate by Sally Hogshead, The Creative Habit by Twyla Tharp, The War of Art by Steven Pressfield. I could go on and on, but those are my favorites.

If you're a creative entrepreneur looking for help, check out April's website:http://www.blacksburgbelle.com

About MoolaHoop: 

MoolaHoop is a rewards-based crowdfunding platform that enables women entrepreneurs seeking to raise funds for their small business. MoolaHoop enables women-owned, -managed and –led small businesses to easily engage their “crowd” of existing customers, potential customers, family and friends in order to raise funds for their business.

www.moola-hoop.com 

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Women We Admire: Melody Biringer, Founder of the CRAVEcompany

From strawberry shortcake to home furnishings to a fitness business, Melody Biringer has trotted down virtually every entrepreneurial trail in existence. With 23 business ventures under her belt — "a few of them even successful!" — you might call her a lifelong “start-up junkie.” Her current entrepreneurial love-child is Urban Campfire, a movement to create a different conversation, produced by the CRAVEcompany.

Q: What’s your favorite part of business/being an entrepreneur?

I love the innovation--making up something that someone hands you money for the value you created.

Q: Tell me about a day in your life.

Lots of email but I hate that answer.  I try and incorporate a walk into my day to get off my computer.  The best days are when my husband or a friend goes with me.   If I need to create some content I head over to my local coffee shop to focus. When it is an event day (note: I schedule most of our events at night, since I am not a morning person) I take it easy during the day to build up my energy to be in a great mood all night long. 

 Q: What inspires you?

Entrepreneurs doing cool stuff inspires me.  Traveling anywhere outside of my hood to scratch for ideas inspires me.   Long lunches or dinners with vulnerable conversation inspire me.

 Q: How did you fund your business?

I am a scrappy entrepreneur so I fund all my projects from something I created that brought in some funds.  I rob Peter to pay Paul most of the time.

 Q: Take a picture of your desk and explain why you have what you have. Is there anything there that motivates you?

My desk is my laptop in my lap on my couch, in bed or at the coffee shop.  I am as paperless as a person can be. Between my laptop and my phone I can handle everything in my life.   I wished I didn’t have to handle mail anymore.  I have a continuous pile of mail that builds up until I throw it all away!

 Q: What are three hard-to-spot pitfalls that are critical to avoid?

Don’t try to do everything yourself, figure out what you do best and outsource EVERYTHING else. 

Know when to quit, if it’s not working after trying several ways it’s never going to work…Move on. 

KISS Keep it Simple Sister, we all like to over complicate everything.

Q: How do you recover from a tough day? Is there anything that can instantly turn your day around?

Hanging out with a friend that I can vent to and get it off my chest and then change the conversation to fun.

 Q: If you got to play “hookie” from work one day, what would be on your list of fun things to do?

Gather a few friends and head to the beach to make s’mores!

 Q: If you could do it all over again, what would you skip, and/or what would MAKE CERTAIN to do twice?

I would skip years of managing people when I don’t like it.  Thinking I would get better at it, thinking it was necessary.  I would hire just the right consultants that believed in me and pull out of me what needs to be pulled out…..Over and over again.

Our mission is to help women fund her big dreams for her small business and we’d love to help you too! Start here! http://www.moola-hoop.com/

About MoolaHoop:

MoolaHoop is a rewards-based crowdfunding platform that enables women entrepreneurs seeking to raise funds for their small business. MoolaHoop enables women-owned, -managed and –led small businesses to easily engage their “crowd” of existing customers, potential customers, family and friends in order to raise funds for their business.

www.moola-hoop.com

[moolahoop1]

Valentina Shoes: Empowering Girls through Creativity

We’ve all read the statistics. Compared to men, women are less likely to consider themselves deserving of promotions, are less likely to fight for a raise and are generally more likely to underestimate their capabilities in the workplace. At MoolaHoop, we connect with successful women every day. Our aim is to help them to feel more secure in their accomplishments and ambitions. Female confidence stems from empowerment, and it starts at a young age. Appropriately, Valentina Shoes is working to achieve this very goal in a fun and creative way. We sat down with their founder, Tina Hambly, to talk about her brand and how MoolaHoop helped bring it to life. 

It all began with Hambly’s daughter. From the artwork she brought home from school to the inventive outfits she pieced together, Hambly was inspired by her daughter’s moments of creative self-expression. It wasn’t long before she decided to launch a company. Her goal? To use fashion to empower young girls by fostering individual expression and creativity and building confidence.

She decided to launch a site where girls could create custom shoes. “One day, in the middle of building the company my daughter got dressed for school wearing two different color TOMS – one black, one blue,” recalls Hambly. “It was the ultimate moment of expression and confirmed what I was doing.”

Not unlike style-savvy and comfortable TOMS, Valentina Shoes offers a wide variety of espadrilles in a host of colors and patterns. Once you’ve picked a color, the next step is to personalize them. Girls can choose to use a monogram, motif, slogan, or even draw their own picture. The possibilities are boundless, just as Hambly intended. “I want to foster passion and creativity and bring happiness to all girls,” she says. “And always let it be okay to wear two different shoes.”

Of course, building a business from scratch wasn’t without its share of hard work. True to her entrepreneurial spirit, Hambly took a risk when she pulled her campaign from another crowdfunding site and started over on MoolaHoop. She saw crowdfunding in general as a positive way to raise funds for her business, but realized MoolaHoop specifically was a better fit for her because of its specific commitment to women.

The switch turned out to be the right choice and Hambly quickly surpassed her goal of $10,000. Importantly, Hambly spent a lot of time asking strangers for help in designing her business plan and understanding the financials, including making a number of cold calls and emails. She was surprised by the amount of people who were willing to help and offer useful advice. The lesson? “Don’t be afraid to ask,” she says. “Get rid of the fear of that road block.”

To learn more and to order your own pair of customizable shoes, visit www.valentinashoes.com.

View Valentina Shoes’ successfully completed MoolaHoop project here: https://www.moola-hoop.com/project/view/2370.

About MoolaHoop: 

MoolaHoop is a rewards-based crowdfunding platform that enables women entrepreneurs seeking to raise funds for their small business. MoolaHoop enables women-owned, -managed and –led small businesses to easily engage their “crowd” of existing customers, potential customers, family and friends in order to raise funds for their business.

www.moola-hoop.com 

[moolahoop1]

An Inspiring Journey to Health and Success: Barfitness Studio

Looking at Linda Nofer, owner of Barfitness Studio in Scottsdale, Arizona, you would never know that just over a year ago she nearly died as a result of an unhealthy addiction: alcohol. On March 12, 2013, Linda drank herself to a BAC of .375, wrecked her car, and was found unresponsive. From that moment on, everything changed. “I am a totally different human being than I was on that day,” says Nofer.

As she began to rebuild her life, Nofer was told that the rent on her studio location would rise. Already in the process of opening her Barfitness Studio, this produced a significant hurdle. She was forced to move to a new location that was, unfortunately, detrimental to her business. She had a loyal following but she knew that if she stayed in her space, she might lose them. Forced with choosing to either fold or move again, Linda scrambled to find a way to afford a move into a more suitable space.

The first time she came across MoolaHoop, she dismissed it, thinking she’d simply be asking for charity. “I obviously was uneducated,” says Nofer. “The more I learned about it, I realized it was a great way to raise money and it was in no way asking for donations.”

Her strategy? Rally the troops. “After five years of being with my clients, every single penny I have ever earned goes into this business. I have given my all to it. It’s not just brick and mortar; it’s the people who come here every day. We are a community. Instead of making this decision all by myself, why not involve everyone?” She consulted her loyal customers, and together they agreed that MoolaHoop was the road to survival for Barfitness Studio.

They crafted a strategic plan, careful to set attainable, reasonable goals. Nofer was deliberate and clear in explaining to her clients that she was not asking for donations; she was simply asking them to purchase discounted class packages in advance as part of the MoolaHoop crowdfunding campaign.

“MoolaHoop is a brilliant up-and-coming way for small business owners to turn to the people who are most vested in their business, including them in the solution to raise money,” said Nofer. “Additionally, MoolaHoop co-founder Nancy Hayes gave me some great advice.”

Nofer credits her customers, who were involved in the details (down to the carpet color), for much of the victory. “You don’t stand a chance in being successful in this type of business if you don’t include your customers. It’s the difference between them spending their money at my studio or the other place two blocks away.”

Today, after a successful MoolaHoop campaign and lots of hard work, Barfitness Studio operates in its new home, lead by a sober, healthy, and happy owner. Nofer encourages all women to pursue their goals, regardless of any current situation. “You can come back from being behind in the race, so don’t give up. There is always a solution, and the journey will be best traveled with loyal company.”

About MoolaHoop: 

MoolaHoop is a rewards-based crowdfunding platform that enables women entrepreneurs seeking to raise funds for their small business. MoolaHoop enables women-owned, -managed and –led small businesses to easily engage their “crowd” of existing customers, potential customers, family and friends in order to raise funds for their business.

www.moola-hoop.com 

[moolahoop1]

Guest Feature | Financial Wellness: Build a Healthy Business to Access Low-Cost Debt Capital

By Chinwe Onyeagoro, Co-Founder and CEO, FundWell

Chinwe has a strong personal interest and professional track record devoted to helping organizations raise capital. Prior to co-founding FundWell, she co-founded, capitalized and operated a boutique consulting firm called O-H Community Partners (OHcp) that raised $120 million on behalf of clients across the country. Today she shares the first step to getting a loan is to understand your eligibility. FundWell makes this easy – just answer three questions online.

 Monitoring The 4 C’s

We all know the importance of health and wellness when it comes to our bodies and minds. We take regular steps – exercising, eating well, and reducing stress – to prevent major health issues and maintain a good quality of life.

We recommend applying this same focus to the financial wellness of your small business. Financial health is associated with certain “vitals” that you should constantly monitor and work to improve: Cash Flow, Credit, Customers, and Collateral. These “4 C’s” determine the state of your financial health and your eligibility for financing.

If you work to improve these areas on an ongoing basis, you will be able to access more and better funding. While each business has unique needs when it comes to financial health, there are some basic principles to keep in mind to constantly improve these indicators and improve your debt financing eligibility.

1. Cash Flow is a crucial indicator because it determines your ability to keep operating your business. Growing too fast without managing expenses can be just as dangerous as declining revenues. Consider how you can stage your growth in order to manage expenses while keeping more of your dollars in the business. Lenders want to see that your business has taxable income, which is an indicator that you have the cash flow necessary to service debt.

Timing: Track cash flow weekly using your accounting system, which should be integrated with your bank account. That way you will always have an accurate reflection of how much money you have in the business.

2. Credit comes in two forms – personal and business. It’s important to manage both to position yourself to access low-cost financing. The top tips to keep in mind in the area of credit are: 1) pay on time, 2) make sure your debt-to-credit ratio is 25% or lower, and 3) ensure you have enough income to cover existing loans and liabilities. By vigilantly making payments and keeping your balance in check, your credit score will stay at an attractive level. If your credit history has been tarnished, it is important to address or be able to explain these blemishes. Always do a cost/benefit analysis when making large purchases, especially in the early stages of your business.

Timing: Your total credit exposure, financing costs, and future needs should be reviewed during your month-end reconciliation process and considered any time prior to taking on new debt.

3. Customers are the reason your business exists, and you should work to maintain and cultivate them. Some key pointers are: 1) diversify your customer base and 2) ensure your revenue flows evenly and consistently throughout the year. Typically, a business should not have more than 25% of its revenue coming from any single customer or contract. Customer diversity gives lenders a level of comfort that you will be able to repay regardless of seasonality, industry volatility, and other unexpected shifts. In addition, lenders like to see repeat customer activity and low turnaround time on accounts receivables, factors which are typically associated with more predictable and profitable sales.

Timing: Revenue, A/R, and collections should be tracked daily, weekly, and/or monthly depending on your type of business and A/R turnaround. The more often you look at your numbers the faster you can deal with any issues. Review your client mix on a quarterly basis to uncover opportunities for diversification, new channels, or target markets.

4. Collateral is the fourth indicator, and it is especially important for debt financing. Generally, the more assets you have, the more comfortable a lender will be. It is good to have both fixed assets and liquid assets. If you have personal assets that you will be using as business collateral, consider transferring that property to the business. If you have to personally guarantee a loan, your home, mutual funds and stocks are good personal assets, while equipment, real estate, and accounts receivable are good business assets. Do a cost/benefit analysis when deciding to buy or lease any fixed asset over $3,000 and evaluate how it will impact your business balance sheet.

Timing: Assets can be reviewed quarterly, unless there is milestone basis for considering more frequently, such as additional space needed for a new store opening.

Conclusion

Depending on the funding product you apply for, lenders may care more about certain indicators than others. For example, merchant cash advance providers care a lot about your credit card-driven revenue. Asset-based lenders care about your fixed (e.g., property and equipment), and liquid (e.g., purchase orders, receivables, and stock) asset value. Other institutions will lend based primarily on the quality and credit of your customers and your longevity in serving them. To learn more about different types of lending products, click here.

To keep track of the 4 C’s of your business, create a financial wellness dashboard to provide a snapshot of how you are doing in each of these critical area and develop improvement plan steps and targets. You can build this in a simple spreadsheet – just make sure to monitor it regularly. By focusing on the 4 C’s, any small business can put strategic and tactical actions in place to improve financial health in the short term and over time. The healthier your business is the more eligible you will be to access more debt capital at lower interest rates.

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FundWell is a small business loan matching and financial wellness site that helps borrowers get the best loan they are eligible for today and improves their eligibility for more capital at lower interest rates in the future. FundWell provides education, transparency, and assistance to help borrowers apply for loans and improve their financial health over time. Visit www.thefundwell.com to learn more and to get your loan eligibility. Email [email protected] to sign up for a 90-day free trial of FundWell’s Financial Wellness Program.

Images found via Pinterest

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http://www.pinterest.com/pin/172825704419978575/

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Join the Conversation: 4 ways to use Instagram to market your business

When you’re running a small business, marketing can pose a major challenge. How do you spread the word about your product or service without breaking the bank? Take a look at Instagram. Currently, over 75 million Instagram users post an average of 60 million photos a day. As of last year over 25% of all Fortune 500 companies were actively using the social network. This year, that percentage will rise. With numbers like that, Instagram has quickly become one of the most valuable resources to connect with potential customers and build brand recognition. Here we share our tips to best leverage the power of Instagram’s network: 

1. Devise a Plan

Before you start to post images, come up with a defined content strategy. Your personal Instagram account may be full of pictures of your pets, but you need to be more strategic with your business account. A good place to start is looking at other accounts similar to the one you are building. If you have a food product, look at what other brands like yours are doing. What works and what doesn’t? A few good questions to ask yourself before you begin posting:

What kind of images will I share? Think about including some behind-the-scenes content (of your product being made or a service you offer being performed). People love to feel like they are getting an inside look into something. 

How often will I post? Certain times of day (early morning, lunch time, early evening are also more active. Think about this when planning your posts)

As you start to post pictures, you will see what your followers like and you can refine your strategy.

2. Take Beautiful Pictures

Once you have decided what kind of images you want to post, the next thing to consider is their quality. Nobody likes a dull, out-of-focus image. Instagram users have become very picky about the images that they “like.”

Be honest with yourself about your photography skills. At the very least, invest in an up-to-date smartphone with a good quality camera. If you don’t think your photography skills are excellent, this may be a good time to leverage your friends and family to help you.

Instagram users are now accustomed to seeing photos that have been enhanced with filters and other editing tools. The app itself offers some filters but we recommend you edit your photos prior to posting them. An excellent editing app is Camera+ (available for $1.99 in the iTunes app store).

3. Use Hashtags (but strategically and sparingly!)

As with Twitter, Instagram users can search using hashtags to find new and interesting content. To expand your reach, it is important to use specific and more generic hashtags in your captions.

Specific hashtags are ones you devise for your business based on your company’s name, products, services or other features. For instance, MoolaHoop uses hashtags like #smallbizbigdreams and #shemeansbusiness in our posts

Generic hashtags are farther reaching ones that can help your account gain traction and engagement. An example of this would be using tags like #yoga or #yogadaily if you have a yoga studio.  

DO NOT overuse hashtags. Posts with ten or fifteen hashtags below them look clunky and lack sincerity.

 4. Stay Consistent

Once you have begun to use Instagram, make sure to stick with it. Continue posting new content. Once a day is a good goal at first. Engage with your community. Respond to comments and check out the pages of your followers. People like to feel like there is a human presence behind the Instagram account. If you stop posting, your audience will stop engaging with you. 

Instagram marketing doesn’t make sense for every company. Check to make sure your potential customers and competitors are engaged with the platform. If they are, get involved. You may be shocked to see how valuable a strong social network can be to your business growth. 

Image Sources: Thanks to artist LoveMaegan. 

http://www.pinterest.com/pin/53269208062581528/

http://www.pinterest.com/pin/38491771788834988/

http://www.pinterest.com/pin/136445063680946973/

http://www.pinterest.com/pin/136445063681625100/

For more information on business-related topics, check out MoolaHoop’s Facebook page: https://www.facebook.com/MoolaHoop1

Our mission is to help women fund her big dreams for her small business and we’d love to help you too! Start here! http://www.moola-hoop.com/

About MoolaHoop:

MoolaHoop is a rewards-based crowdfunding platform that enables women entrepreneurs seeking to raise funds for their small business. MoolaHoop enables women-owned, -managed and –led small businesses to easily engage their “crowd” of existing customers, potential customers, family and friends in order to raise funds for their business.

www.moola-hoop.com

[moolahoop1]

Crowdfunding Success Story: JoJo of JoJo Sriracha

At age 26, Jolene (Jojo) Collins decided to get serious about her health. Her first step was a month without refined sugar. Missing some of her favorite sauces and condiments, Jojo began to create small batch sriracha chili sauce at home as a substitute for her previously beloved store-bought brand. The sauce turned out to be a hit, and in 2012 Jojo, a self-described surfer girl, decided to dive into entrepreneurship, launching her company love hard, inc. with her signature sriracha. Of course, it wasn’t long before Jojo outgrew the capabilities of her home kitchen appliances. “I needed an industrial blender that could puree entire chili peppers, seeds and all,” she says. “I landed on the Vitamix XL which runs a few thousand dollars that I didn’t have.” Her solution? Crowdfunding.  Read on for Jojo’s tips for running a successful campaign (and a few of her favorite ways to enjoy her signature sauce): 

MoolaHoop: What were some of the initial challenges you faced when starting your own business?

Jojo Collins: What weren't the challenges? Everything was so new. It was (and still is) a steep learning curve. I remember sitting on my bed, surrounded by papers related to my certificate of incorporation. I couldn't afford to have a lawyer do it, so I was figuring out how to do it myself. I threw my hands up in the air and started crying. Eventually I pulled myself together and figured it out.

MH: Tell us about the process of building and running your crowdfunding campaign?

 JC: I'm a collaborator - I think the more we can create webs of networking and mutual benefits the better communities and economies we can create. So the first thing I did was started building incentives that both gave supporters an experience but also connected them to local businesses that I believed in - like Justin Phillips Beer Table restaurant ( http://www.beertable.com/ ) - he hosted a three course meal integrating jojo's sriracha into each course and pairing it with a fancy beer of choice. It turned out beautifully and also brought people to Beer Table.

Beyond that, I tried to make rewards that reflected the spirit of my brand. Our highest price reward was for a custom batch of jojo's Sriracha that would be completely hand-crafted and stamped with a uniquely designed stamp (drawn by a local artist and friend) just for this batch. The batches were amazing and we also released them for sale and told the story of their creator, the batch and the stamp we chose. It was really personal and to this day some of the most special batches I've ever made.

  MH: What are some tips you would offer to future crowdfunders?

 JC: Get ready to work for your money! It's easy to think that crowdfunding is easy money, but it's not. It takes time and effort to create a successful campaign and execute it well.

I asked a friend from Brooklyn who had just successfully completed a crowdfunding campaign to get his band's album recorded what he did to make it work. He said to post about it every day on Facebook. I was shocked.  I thought that would be obnoxious or annoy people, but he responded with something really smart. He said, "These are your friends, family, supporters - they want you to succeed." And he was right. I posted every day - trying to mix it up, be fun, funny, engaging (even made a silly video when we had raised half our funds). People shared my posts and helped get the word out, especially as we came down to the wire.

 If you're lucky enough to earn your money, now you have to be a person of your word and make sure people get their rewards in a timely manner. Be organized and make sure every person is taken care of. Figure all of this work into the pricing of your rewards and campaign in general - it might mean needed to hire help, or just being able to pay yourself for the extra time.

MH: What’s next for your company?

JC: We've grown exponentially since our crowdfunding campaign. Our next move is to open a facility in Denver, Colorado (the birthplace of jojo's) and continue to grow the business. We're working on some exciting collaborations and enjoying staying connected to both the people and businesses that helped us get our start as well as carving out some new territory for ourselves.  

 MH: Where can we buy your product online?

 JC: Currently you can buy it via our Etsy store:

https://www.etsy.com/shop/loveofjojo

But we’re also re-launching a new web store soon so keep an eye on lovehardinc.com

 MH: What is your favorite way to enjoy jojo’s sriracha?

JC: You mean besides putting it on everything? What I love most about Jojo's is that it (quite literally) spices things up. Take something as classic as a slice of cheese pizza - spread some jojo's on it and it's a whole new world. For me, it's all about breakfast. I love steel cut oats with melted cheese and an egg - throw some jojo's on top and you're set. If you're feeling really fancy, cut up fresh avocado and garnish with cilantro. If you need extra substance, add some beans. 

For more information on business-related topics, check out MoolaHoop’s Facebook page: https://www.facebook.com/MoolaHoop1

Our mission is to help women fund her big dreams for her small business and we’d love to help you too! Start here! http://www.moola-hoop.com/

About MoolaHoop:

MoolaHoop is a rewards-based crowdfunding platform that enables women entrepreneurs seeking to raise funds for their small business. MoolaHoop enables women-owned, -managed and –led small businesses to easily engage their “crowd” of existing customers, potential customers, family and friends in order to raise funds for their business.

www.moola-hoop.com

[moolahoop1]

Benefits of Blogging

  Does the idea of adding one more thing to your to do list make you cringe?

 If you’re running a business someone has probably mentioned that you should have a blog, but it might not be clear how exactly a blog benefits your audience.

3 Benefits of Blogging for Business

1. Spotlight Your Brand

Every time you write a blog post, you are creating a new way to get discovered through social media. You are creating content that people can share on social networks: Twitter, Facebook, LinkedIn, Facebook, Pinterest, Google+, that is exposing your brand to a new audience that doesn’t know you yet (or an audience who found you before but has forgotten you in the meantime)!

This is a great chance for you to highlight what exactly you do, how well you do it and what you’re an expert in.

 2. Improve Search Engine Optimization (SEO)

A blog provides dynamic and changing content that can help improve your search ranking on Google and other search engines.  Every time you write a blog post, it is a cue to search engines that your website is active. Blogs allow you to insert keywords that help viewers narrow down their search. It is more likely they will find your blog as a perfect match!

  3. Attract new visitors and keep current ones

With an increased presence, thanks to SEO and social media, both new and current visitors will be looking for engaging and helpful content. A blog is a perfect way to encourage web traffic to your website. This is a chance for viewers to interact with the content you’re sharing and get a better feel for your brand. 

   If you have a blog list it below and let us know what’s working for you!

Or, if you’re not sure what to blog about just let us know and we’ll share a few ideas too. 

  For more information on business-related topics, check out MoolaHoop’s Facebook page: https://www.facebook.com/MoolaHoop1

Our mission is to help women fund her big dreams for her small business and we’d love to help you too! Start here! http://www.moola-hoop.com/

About MoolaHoop:

MoolaHoop is a rewards-based crowdfunding platform that enables women entrepreneurs seeking to raise funds for their small business. MoolaHoop enables women-owned, -managed and –led small businesses to easily engage their “crowd” of existing customers, potential customers, family and friends in order to raise funds for their business.

www.moola-hoop.com

Images found:

http://www.pinterest.com/pin/6896205652436668/

http://www.pinterest.com/pin/466404105132506276/

http://www.pinterest.com/pin/14566398767069486/

[moolahoop1]

Crowdfunding Success Story: Mel Russo and Yoga High

A born and bred New Yorker, Mel Russo was a self-described “high energy, athletic type” who never thought she would enjoy a yoga class. In 1995, she was working as a casting director in Hollywood when her sister finally convinced her to try yoga. “It was instant,” she says. “I couldn’t believe anything could make me feel so relaxed and yet so energized at the same time. I couldn’t get enough.” Fast forward to 2008, Russo had returned to New York and decided to open her own studio, Yoga High. Her following grew rapidly and when she realized she needed to expand to a larger space, Russo turned to crowdfunding to raise money for her business. Described as “one of the friendliest studios in the city” in a review by The New York Times, Yoga High, now in its sixth year, is continuing to grow and expand its reach. We sat down with Russo to talk about the ups and downs of running a business and her tips for launching a successful crowdfunding campaign (hers reached its goal in just two days!)

MoolaHoop: What prompted you to make the leap and open your own yoga studio?

Mel Russo: “I returned to New York City from LA in 2000. I was teaching at a small studio in the East Village and was the studio manager as well. I loved the manager role and it quickly became clear that I needed to open my own studio. If I’m honest, I think I realized this after only a few months of working there but it took a while for me to actually let that reality sink in.”

  MH: What were some of the challenges that you faced in starting your own business?

MR: “I think at first the biggest challenges were around dealing with the physical opening. There are so many moving parts when you’re trying to get a date pinned down and you’re counting on contractors and other people to work within your timeframe. The first few years brought the obvious challenges: money, time, and organization. It took a while to just figure out who our clients were and what they wanted.

But, believe it or not, this year (our sixth) has actually been the hardest. I think I speak for anyone who owns a small business in NYC and lived through this past winter when I say that it has been brutal. We had to close several times due to weather and lost business. People didn’t want to leave their apartments. It’s taking a long time to warm up and we’re just now seeing people return to classes.”

  MH: What led you to crowdfunding for Yoga High? What was appealing about this method of raising funds?

MR: “The lease on our original studio was coming up and we had talked about what to do next since our rent was too high and we felt we had outgrown the space we started in. One of our students actually recommended crowdfunding. The most appealing part of it, besides getting the funds to move and open up in a bigger and better space, was the fact that the community could help us. Everyone really banded together to aid us in reaching our goal in a record two days!”

  MH: What was the process of building your campaign like? What was the goal and what rewards did you offer? What did you do throughout the campaign to help it succeed?

MR: “We knew nothing about this to start, so it was helpful to look at other campaigns that had already successfully funded. We also got tips for what rewards to offer and how to build our video. It was important for us to clearly describe who we were and what we needed. Our main goal was to make enough money to cover the cost of the build out and the move. We set the goal amount at $10,000 and ended up raising almost $19,000! Throughout the campaign we kept sending out newsletters and Facebook posts to let everyone know where we were in the process. I think that was crucial because the students really loved hearing the updates.”

  MH: What are some tips you would offer to future crowdfunders?

MR: “Allow your funders to feel like they are part of something. The yoga community is very tight knit so it was easy for us to reach out to our students and friends and tell them what we were doing and why we needed the money. Nobody wants to see their yoga studio close! We had a great response once we got real about how badly we needed this campaign to be successful in order to stay open. I also think offering your funders things they can really use, which for us was classes or yoga mats, was really helpful.” 

MH: Now that you’ve settled in your new space, what’s next for Yoga High?

MR: “We really want to launch videos. We’ve been hoping to record classes and post short instructional videos for a long time now. But, honestly, the list of things we want and need to do is endless!”

To find out more about Yoga High, visit their website yogahighnyc.com. 

For more information on business-related topics, check out MoolaHoop’s Facebook page  <https://www.facebook.com/MoolaHoop1>https://www.facebook.com/MoolaHoop1 <https://www.facebook.com/MoolaHoop1>

Our mission is to help women fund her big dreams for her small business and we’d love to help you too! Start here!  <http://www.moola-hoop.com/>http://www.moola-hoop.com/ <http://www.moola-hoop.com

[moolahoop1]

Brenda Bazan of MoolaHoop: Crowdfunding for Small Businesses

This story is part of The Story Exchange's 1000 Story Exchange

Reason for starting: I started my career in sales at IBM. Over my 25 years there, I spent nearly the entire time focused on helping the company to gain access to small businesses. My expertise was in understanding the problems of small businesses, what they needed to grow and how to leverage resources to support them. I had a relatively uncharacteristic technology career so it made sense that when I left IBM I went to lead development for a microfinance nonprofit because my passion was still based around helping people to start and grow small businesses. The model for international microfinance is well-documented and hugely successful, so my question was “why can’t we do this same thing in the US?” There are plenty of people who want to work with medium-sized, scalable businesses but what about the bread and butter of the US economy which are small businesses that support a family’s income and provide light to medium employment. How do those kinds of businesses get access to resources, capital and technology? I played with a few models for investment and loans but soon concluded that crowdfunding would provide the best and most innovative vehicle for small businesses to raise money and grow. So, I partnered with my former IBM colleague Nancy Hayes to start MoolaHoop.

How do you define success? For me success is when my career and my business begin to make a substantial change in women’s optimism and results for small business. It isn’t just about making businesses more successful, it is about creating another professional avenue for women.

When I was starting a business as a yoga teacher (after leaving IBM), a man wanted to partner with me to create online education for yoga and he made a business proposal to me that was really unattractive to the point of being insulting. He was extremely belligerent about the fact that this was a good offer and if I didn’t take it, I wouldn’t get it from anybody else. Though I knew I wouldn’t take his offer, I wondered how many women were in that place where people who were more confident and more experienced took advantage of their need and I wanted to replace that person with an empowering capability like crowdfunding.

Biggest Success: When you’re less than a year into your business, you get little successes every day. But our biggest success is when companies that are larger and more well-established want to partner with us to drive this same mission. If you’re a little wheel, it’s exciting when the bigger wheels see your vision and begin to move in the same direction. That’s when we feel like we’re really making an impact.

What is your top challenge and how have you addressed it? I think the greatest challenge we face is a low level of awareness about what crowdfunding is and how it can help a business. When you finally reach a big audience of women but you have to spend twenty minutes explaining the term, it’s hard to keep the attention of busy professionals. How many average people knew what “equity” in a business meant before the TV show Shark Tank? Our job is to build a similarly pervasive knowledge of crowdfunding since it is certain to be a more common approach to business funding moving forward.

  Who is your most important role model? My role model is Ariana Huffington. She feels strongly that we need to transform the definition of success to broaden the lens and include family, health and wellbeing. This new definition is liberating to women who are engaged in an international dialogue about work-life balance.

[moolahoop1]

How to Run a Successful Crowdfunding Campaign to Grow Your Business

Crowdfunding has become an increasingly popular approach to raise funds in support of a project to grow your business. Rewards-based crowdfunding, where you solicit pledges from your customers, family and friends in return for special deals on your product or service,  is appealing as a debt-free way to raise capital. But there are also other benefits. Not only does using your social and professional networks to gain support for your business goals and engaging your customers in the success of your enterprise can have a long lasting impact on customer loyalty but the process of preparing and conducting a campaign also requires that you “crisp up” your marketing messages and eventually provides you valuable feedback on the appeal of your pitch and your product or service.

Here are a few tips to ensure that your next crowdfunding campaign is successful:

Build a solid network.  Just before your campaign launches is not the time to start to engage with your customer community and professional network.  Begin to create a conversation even before your business is formed.  Ask for input and feedback from friends, family and organizations that share your passion. And make sure to collect the email contact lists for existing and potential customers along the way. Become a subject matter expert about your business or industry and provide tips or helpful information.  Create an online identity that draws people to you as someone interesting and engaging.  In this way, you will create a loyal following and build the foundations of a tight customer community.  A business Facebook page is critical, and depending on your audience as well as the visual appeal of your crowdfunding rewards, a Twitter account, Pinterest, Instagram and a blog are also beneficial.

Be concise. While having a conversation is critical, social media is not the place to write the next great novel.  This communication medium is best used for short, pithy messages.  So, be clear and be brief.  If your product photographs well, then post images (and even include customers in some of them).  As we all know, a picture speaks a thousand words.

Tell a story.  Once you have engaged your community, tell your network what you are planning to do to grow your business and how their support will make a difference for you. What project goal are your trying to achieve to grow your business –  a new location, a new product line? The best description of your goal is one where your customers will see how it will benefit them if you achieve that goal (i.e., a bigger location means more yoga classes to chose from!). But also be interesting and a little entertaining. Between posts with compelling requests for support, include live action video segments of you behind the scenes at your business or photos and videos of customers telling others why they support you.  Make it real, make it current and make it personal.

Offer Value.  People want to see you succeed, but they also want something in exchange for their support.  Consider a variety of rewards that allow many different supporters to participate in your success.  Some people may not be able to use or access your business products, so allow them to donate in exchange for a thank you or a shout out. If all your rewards are also currently available in your online store or at your place of business, people will not be compelled to act immediately.  So offer new items, exclusive products or early availability.   And create some scarcity by offering rewards that have limited supply.

What about that big dollar contributor?  Offer something extra special such as an experience or a unique way to mark their support permanently in your business.  Conduct a personal class, host a private party, name a product after them, or include them in special “behind the scenes” events at your next launch.  There may be very creative and exciting ways to entice supporters to pledge larger dollar amounts.

Share the Love. Once the campaign has begun, work continuously to update your supporters.  Tell them how things are going and how to share the story with others.  One key to a successful campaign is the volume of “views” your campaign page gets. Campaigns typically raise only a percentage of the total funds from their own existing networks and customers.  It is generally matched equally by supporters who are in the extended networks of your contacts.  So sharing, reposting, forwarding and retweeting your campaign can multiply your chance for success.

Don’t stop communicating.  After you have reached your goal, there may be a temptation to sit back and take a break from the stress and pace of the campaign.  Don’t do it.  Thank your supporters and keep them updated.  Let them know how things are going and what progress you are making.  Keep the story alive and cement those relationships that you’ve worked so hard to develop.

There is little that is more satisfying than seeing this kind of grassroots support build and grow around your dreams.  While it is hard work to run a successful crowdfunding campaign, the benefits you reap in market validation and customer engagement go far beyond the fundraising result.  So jump in!  

Have you ever run a crowdfunding campaign to raise money for your business? Share your experience with other makers + entrepreneurs in the comments!

For more information on business-related topics, check out MoolaHoop’s Facebook page: https://www.facebook.com/MoolaHoop1

Our mission is to help women fund her big dreams for her small business and we’d love to help you too! Start here! http://www.moola-hoop.com/

About MoolaHoop:

MoolaHoop is a rewards-based crowdfunding platform that enables women entrepreneurs seeking to raise funds for their small business. MoolaHoop enables women-owned, -managed and –led small businesses to easily engage their “crowd” of existing customers, potential customers, family and friends in order to raise funds for their business.

www.moola-hoop.com

[moolahoop1]

Financing Alternatives for Women with Small Businesses

Women in the U.S. today start nearly 30% of the new businesses but they receive less than 5% of the venture based equity funding and less than 12% of institutional debt such as traditional bank loans.  As a consequence, women-owned businesses often start out under-funded, which means they will be smaller at the outset and grow more slowly.

The good news is that the number of funding alternatives are growing and a savvy owner should do her research to understand the pros and cons as well as whether her business qualifies for these options.

The options available for your business depend on factors such as type of business, credit worthiness, willingness to trade ownership or debt for access to capital, the attractiveness of the industry to investors and the amount of personal wealth you can leverage to guarantee a loan.

Bootstrapping - Many experienced business owners recommend funding the startup of your business from your own assets (“bootstrapping”).  They believe using your own funds creates a discipline for cost-conscious behavior and builds attitudes toward expense decisions that benefit a company well into the future. There are some great books such as Lean Startup that detail the benefits of and path to bootstrapping your business.

Credit card debt - The most expensive but most common source of funding for very small businesses is credit card debt.  It is universally considered the least attractive option because of the high interest rates but has the benefit of easy access.

Friends and family - Another common way to raise startup small capital is to reach out to friends and family.  You should treat this loan or equity transaction with the same amount of respect you would treat institutional funds.  Create a contract and spell out the terms and the time frame.  Offer your funders periodic formal updates on the status of your business.

Factoring - Factoring is a process where a financial institution assumes your accounts receivables and advances you 70-80% of the total value.  Then they collect the full amount from your customers, forwarding the balance to you minus their fee.  This can be an effective way to obtain short-term capital while also outsourcing the collections process.

Supplier line of credit - If you have a good relationship with your suppliers, you may request a line of credit so that you can receive goods and pay for them over an extended period.  Companies like Zazma provide small loans to keep supplier materials flowing.

Angels - Some investors are dedicated to empowering women through financially supporting their businesses.  They typically want to enter at an earlier stage than traditional equity investors and may have an industry focus. They may provide loans or equity investments and can even partner with local economic development organizations.  Some examples of Angel investors that focus on women are Golden Seeds, Women’s Venture Capital Fund and Springboard, plus many more who operate regionally.

Grants - Look online for federal, state and local grants available to women and minority owned businesses.  The Small Business Administration (SBA) and other economic development agencies are becoming more aggressive in offering small business grants to accelerate women’s economic growth.  Explore non-profit agencies such as Count-Me-In: Make Mine a Million, who works to supports women to grow to $1 million in revenue, and the  American Association of University Women, supporting university graduates in underrepresented professions.

Incubators - There are many business incubators and/or accelerators who invest in businesses with resources, mentoring and capital. Their purpose is to improve the likelihood and pace of growth for businesses in their industry. Incubators are often associated with tech businesses, but there are incubators supporting other industries such as food, fashion, retail and tourism. The Rutgers Food Innovation Center maintains a great list of food industry incubators.

Crowdfunding - Crowdfunding, or the process of raising money from small donations across many supporters, is gaining popularity. There are three types of platforms that can apply to businesses: rewards, debt and equity.

Rewards based –  This type of project turns to a customer community or social media followers to solicit financial support in exchange for non-financial rewards.  It is most effective when used to presell products or services to a loyal customer community or social media following.  In this method, a business owner with consumer facing products or services tells their story and requests pledges while promising a product, service or other non-financial reward in the future.  Some large platforms such as Indiegogo accept all forms of fundraising projects, and other platforms specialize.  Kickstarter supports creative projects and many artists, MoolaHoop specializes in women-owned businesses.

Debt-based - Kiva Zip offers an option to crowdfund a low dollar value, zero percent interest loan.  This is a great option for those who would not otherwise qualify for credit and need very small amounts, starting around $5,000.

Equity-based - One great platform for women is Portfolia.  They focus on matching investors and businesses using capital in exchange for equity.  These platforms work closely with the business owner to build their investment case and provide tools and support for managing investors.  This is typically available to companies with high growth prospects and a foreseeable economic event.

There are many more types of funding alternatives today than ever before. But with the proper research, there are certain to be alternatives to make your business dreams come true.

What project are you dreaming of funding?

For more information on business-related topics, check out MoolaHoop’s Facebook page: https://www.facebook.com/MoolaHoop1

Our mission is to help women fund her big dreams for her small business and we’d love to help you too! Start here! http://www.moola-hoop.com/

About MoolaHoop:

MoolaHoop is a rewards-based crowdfunding platform that enables women entrepreneurs seeking to raise funds for their small business. MoolaHoop enables women-owned, -managed and –led small businesses to easily engage their “crowd” of existing customers, potential customers, family and friends in order to raise funds for their business.

www.moola-hoop.com

[moolahoop1]

5 Tips for Standout Press Releases

Great, well-placed press can give your business an incredible boost.  We know what happens to brands after being featured as Oprah’s Favorite Things or after being featured as a leading entrepreneur to watch in Inc. Magazine.

We all strive for great press in business and sending a press release to targeted editors is your first step to landing press opportunities.  A press release is an official statement issued to media outlets giving information on a particular matter.

5 Tips for Stand Out Press Releases

1. Find a Hook: A hook is simply your reason that this information is newsworthy.  It generally is related to: your brand’s why, recent studies and new findings or current events.

2. Be Personalized: Remember, these editors are receiving hundreds of news tips each day so yours needs to attract the readers attention. Sending personalized press releases to your target editors is more successful and stands out more than mass sending.  

3. Avoid Jargon: Use plain language everyone can understand. 

4. Don’t Advertise: You’re sharing a story about yourself or your brand.

5. Suggest How it Fits: Before pitching, be sure to watch or read the outlet's various sections, recurring columns and special segments. This will help you understand exactly where your story fits and you can do that piece of work for the editor by suggesting your piece is perfect for a particular segment.

There’s so many press opportunities ranging online, offline, local & national that we encourage you to try sending a few press releases. Let us know where you are trying to get featured!

For more information on business-related topics, check out MoolaHoop’s Facebook page: https://www.facebook.com/MoolaHoop1

Our mission is to help women fund her big dreams for her small business and we’d love to help you too! Start here! http://www.moola-hoop.com/

About MoolaHoop:

MoolaHoop is a rewards-based crowdfunding platform that enables women entrepreneurs seeking to raise funds for their small business. MoolaHoop enables women-owned, -managed and –led small businesses to easily engage their “crowd” of existing customers, potential customers, family and friends in order to raise funds for their business.

www.moola-hoop.com

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5 Product Marketing Experts Worth Following

If you are a designer, manufacturer or seller of a product (apparel, jewelry, accessories, home decor, baby & kids products, eco-products, and more), you probably have a list of product marketing experts whose newsletters you subscribe to or whose events you attend. But, do you ever wonder if you’re missing something?

We’ve created a list of product marketing experts you need to know about! 

Amy Flurry of Recipe for Press – 

Amy co-founded Paper-Cut-Project, a company that conceives art direction and highly crafted installations in paper for window installations, runway, catalogs and advertising campaigns. Amy also served as a regional editor for Lucky magazine for six years and as a style correspondent for eBay’s online magazine, The Inside Source and has provided brand consulting and copy-writing for many fashion and lifestyle clients. Now, she now helps entrepreneurs get publicity for their products through her blog and book, Recipe for Press. 

Angela Jia Kim of Savor the Success – 

Angela co-founded Savor the Success in 2008 with her husband Marc . She also has an award-winning organic skincare line and spa in NYC and is the founder of Women Entrepreneurs Rock the World, an annual conference (that sells out every year!). Angela’s Savor the Success network has thousands of members and provides all the tools you need to have a successful business.

Clare Yuille of Indie Retail Academy – 

Clare is a co-owner of Plaisir, an award-winning fashion, gifts and home ware boutique specializing in work by artists and designers across the UK. She helps creative people get their products into indie retailers’ shops in a way that’s non-terrifying. Clare is founder of Indie Retail Academy and the go-to retail coach for artists and designers who want to get wholesale right first time. 

Brittni Melhoff of Paper & Stitch – 

Brittni is the editor and owner of papernstitch, a blog and site that not only showcases creative entrepreneurs, but to also provides lots of valuable tips and advice on how to start and grow your creative small  business. Brittni also provides one-on-one coaching and can be found speaking at creative entrepreneur events throughout the country.

Heather Allard of  The Mogul Mom – 

Heather has been a mompreneur since 2001. Heather established 2 Virtues Inc, named after her daughters, Hope and Grace and began the arduous journey of bringing her products to market. After selling her products in 200+ stores in the United States and abroad, including catalog giant, One Step Ahead, and receiving favorable press in national magazines, the emails from mom entrepreneurs kept filling her inbox, and so she decided to found TheMogulMom, a website that helps moms run a business, raise a family and rock both.

There are so many amazing experts to choose from, so be sure to leave a comment at the bottom of our post with your favorite product marketing expert and we’ll make sure to include them in another list down the road! 

For more information on business-related topics, check out MoolaHoop’s Facebook page: https://www.facebook.com/MoolaHoop1

Our mission is to help women fund her big dreams for her small business and we’d love to help you too! Start here! http://www.moola-hoop.com/

About MoolaHoop:

MoolaHoop is a rewards-based crowdfunding platform that enables women entrepreneurs seeking to raise funds for their small business. MoolaHoop enables women-owned, -managed and –led small businesses to easily engage their “crowd” of existing customers, potential customers, family and friends in order to raise funds for their business.

www.moola-hoop.com