Do you run a small business, or have dreams to start one? Each week on The Tidbit, brought to you by Cureate, we discuss tidbits of knowledge around starting and running a small business with a food and beverage lens. Show host Kim Bryden sits down with guest experts and shares trending new topics on food, business and culture to help best prepare you for your business journey.
EPISODE 10: HOW TO CRAFT YOUR INVESTOR PITCH AS A PURPOSE-DRIVEN BUSINESS
A FEW QUOTES:
- We need an abundance of creators, from different walks of life, creating new solutions. It’s not a zero sum game. If one person wins, that does not mean everyone else loses. Creation is expansive. Creation creates more innovations and more exciting challenges to be solved!
- I am reading this New York Times piece titled, “The Tyranny of Convenience” that I find utterly fascinating. I bring this up because, to me, it seems that our technologies of the past 5-8 years have solely been built to around optimizing convenience. Tasks your parents would do for you if you still lived at home - get my groceries, clean my laundry, drive me to school. And I am asking the question, is that really a problem that needs to solved for? Are we gaining more leisure time and bettering our lives by having more convenience?
- "Convenience is all destination and no journey. But climbing a mountain is different from taking the tram to the top, even if you end up at the same place. We are becoming people who care mainly or only about outcomes. We are at risk of making most of our life experiences a series of trolley rides.”
- I want you to ask yourself: Who is building my future? Who are we empowering to build our solutions? Who is deciding what I believe and how I live out my life?
- Your WHY is what gets you up in the morning, keeps you going through the hard times. Good ideas are a dime a dozen, execution is hard.
- Purpose is the new bottom line.
- The winners of the future are not focusing myopically on shareholders, they will be the companies that engage us all.
- 47% of people are able to get food, drink to the table; 51% is how you make people feel.
- Competition in terms of product and service - it's fierce. The thing that sets you a part is what you believe.
- Greyston Bakery is pioneering open hiring. I believe everyone is employable.
- Culture is a tangible asset — you can measure it, you can build it.
- There were a group of customers coming to us and asking: how do I lower costs and raise revenue? And then, there was another group of customers asking: how do I get employees to give a damn? how do I have my suppliers view us as partners? These companies asking the latter questions ended up fairing better.
- Tip #1 on the pitch: RELAX. We get nervous, so take a step back and know that you know your business better than anyone else.
- Tip #2: Start with your WHY. Begin with your presentation with WHY it matters to you, and WHY it should matter to anyone else.
- Tip #3: When someone is giving a pitch, there is only one thing I know for sure — their numbers are wrong. The numbers are a projection. What is your rationale? I want to know your thinking behind why you believe those numbers.
- There are a lot of businesses out there that are solutions looking for a problem.
- Tip #4: What people often skip over is the HOW. How am I going to get 4% of all grocery stores in Washington, DC? How am I going to get to 1% of everyone in China?
- Big fan of the micro-test!
- Urban Resilience: "the capacity of individuals, communities, institutions, businesses, and systems within a city to survive, adapt, and grow no matter what kinds of chronic stresses and acute shocks they experience"
- Your journey and the problems you have are unique to you - and you're able to build to solutions with that worldview.
- Conscious Venture Lab
- Shift Ventures
- Jeff Cherry
- School of Food
- Simon Sinek, Start with Why
- Rise of the Rest
- Village Capital
- Greyston Bakery
- Greyston Bakery and Jeff Cherry in Conscious Magazine: https://consciouscompanymedia.com/workplace-culture/recruiting-hiring/can-create-conscious-culture-without-using-hiring-filters/
- Southwest Airlines Values
- Firms of Endearment
- F6S - application site for accelerators
- Treason Toting
- The Cube Cowork
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