))
The Entrepreneur's Crossroads: Expanding via Sales vs. Investment Capital with Kimberly Daniel and Stephen Lewis
Manage episode 497153969 series 3564548
Content provided by Kimberly Daniel & Stephen Lewis, Kimberly Daniel, and Stephen Lewis. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Kimberly Daniel & Stephen Lewis, Kimberly Daniel, and Stephen Lewis or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
Should you grow your business through sales or raise investment capital? It's not a one-size-fits-all answer, but understanding the trade-offs can make you feel more confident.
Today’s episode of the DO GOOD X podcast explores the intersection of purpose and business with hosts Stephen Lewis and Kimberly Daniel. Together, they’ll delve into the crucial decision entrepreneurs face: growing through sales or raising investment capital while breaking down the basics of both approaches and discussing the pros and cons of each.
Kimberly and Stephen also touch on the importance and the challenges of sales, the pressure of securing outside investment, and the benefits of a hybrid approach. Ultimately, each impact-driven entrepreneur must consider their unique circumstances and time horizons when deciding how to fund their businesses and keep doing good.
IN THIS EPISODE:
- (00:00) Intro: Welcome to the DO GOOD X podcast
- (05:42) Distinguishing between sales and raising capital
- (09:09) Benefits and challenges of sales-driven growth
- (12:24) Determining the right funding approach for your business
- (15:49) Importance of sales skills in any path
- (17:22) DO GOOD X unique support for purpose-driven entrepreneurs
KEY TAKEAWAYS:
- Building a business through sales allows entrepreneurs to validate their ideas and create early momentum. This customer-driven approach can lead to more confident investor conversations if capital is needed later, as it demonstrates market demand and traction.
- Sales skills are crucial regardless of the funding path chosen. Even when seeking investment capital, the ability to effectively sell your product, service, and story remains essential for long-term business sustainability and connection with your customers.
- Raising capital through investors can accelerate business growth but may come with added pressure and potential misalignment of goals. Entrepreneurs must carefully consider if the investor's values align with their social impact objectives.
- A hybrid funding model, incorporating small grants or bank loans, can provide capital without sacrificing equity. This approach offers a middle ground between pure sales-driven growth and traditional venture capital.
RESOURCES:
Kimberly R. Daniel catalyzes entrepreneurs and organizations to do good. She is co-founder and project director of DO GOOD X, a community that provides programs and support for faith-driven social entrepreneurs whose businesses focus on positive change. Kimberly also helps purpose-driven organizations clarify and design compelling brand and communication strategies.
With over 15 years of experience developing and leading communications efforts, she is committed to producing effective processes and creating authentic, “sticky” brands that are community-centered. In addition, Kimberly has nearly ten years of experience as a certified life coach. She has facilitated workshops, spoken to communities, and written about innovation and entrepreneurship centered on social impact. She co-authored A Way Out of No Way: An Approach to Christian Innovation (2021).
She is deeply passionate about purpose, meaning, and the common good in any aspect of her work.
Stephen Lewis is the president of the Forum for Theological Exploration (FTE) and the creator and co-founder of DO GOOD X. This community provides programs and support for faith-driven social entrepreneurs whose businesses focus on positive change.
He is an organizational change strategies and leadership development specialist focused on inspiring the next generation of faith-inspired leaders and entrepreneurs to live and work purposefully. Stephen co-authors Another Way: Living and Leading Change on Purpose (2020) and A Way Out of No Way: An Approach to Christian Innovation (2021).
KEYWORDS: Kimberly Daniel, Stephen Lewis, entrepreneurs, purpose-driven entrepreneurs, social impact, business growth, sales strategies, raising capital, venture capital, customer relationships, storytelling, business scaling, investor relations, purpose-driven business, financial options, sustainable business, product validation, market demand, business acceleration, equity considerations, startup funding, customer feedback, business infrastructure, negotiation skills, hybrid funding models, business planning, value proposition, entrepreneurial resilience
66 episodes
Share
