This is the stuff I LIVE for… read on to see why.
Early stage / high growth business owners list ‘access to capital’ as their number one barrier to growth.
We want to invest in building the team, growing our tech, buying more stock, investing more in our marketing… but the cash flow of the business is restraining our ability to invest in the things that will enable our growth. This was exactly the case for one of our members, Daniel Bykersma, who runs a forklift hire (and services) business called Damoli Forklift Services.
About 8 weeks ago, during a break at our Building Significant Value workshop, I was chatting with Daniel, and he was telling me about how the single thing holding him back from growing his business was that he was limited by the number of forklifts his business had access to.
For him, the financial mechanics of the business were relatively simple – the more forklifts he could hire out = the more revenue and profit he could generate.
And as you would imagine, forklifts aren’t cheap.
Traditional financiers like the banks were too conservative to give him access to the capital he needed to get more forklifts.
So, as is always the case in the game of entrepreneurship, this challenge was there to be overcome.
On top of the strategies from the workshop, I also introduced Daniel to one of our Entourage Vision Partners who I knew would be able to introduce Daniel to the kind of equipment financier that would enable him to unlock his growth.
Today, Daniel came up and told me that using the strategies he learned and the connections he was introduced to he is now generating an extra $20k NET profit… per week.
In the last eight weeks he has already achieved a run rate that will see him have an extra $1m in his pocket over the next 12 months. All from learning the strategies and getting around the right people who could help him find the money.
It’s stories like this that made us want to do something different in today’s episode of Unscripted. Sometimes one introduction, or one lesson, can have an exponential affect on growth.
Unscripted is intended to be about more than entertainment, I want you to learn and grow.
So, this episode features some key extracts from our recent Raising Capital workshop to give you a lens into some of the business building strategies you can leverage for driving growth. Check it out and let me know what you think.