Having a great idea, a high demand product and the best work ethic are certainly cornerstone requirements for a highly successful business. However, without adequate funding, a promising business can stall in its tracks and share the fate that most startup businesses suffer.
Learning how to effectively raise capital for your startup could mean the difference between success and failure. Join us for this exciting event where we cover the subject of capital raising and find out how you can lay a solid funding foundation to allow your startup to realise it’s full potential.
What we will cover:
• Different types of funding – formal and informal – that anyone can access
• The Do’s and Don’ts of pitching
• What investors are looking for when evaluating your business
• The essential components of a great pitch
• How to know if your business idea is investible
And much more…
A number of startups will be pitching their ideas in front of 3 sharks. This is a great opportunity for other founders to gain an insight into how the due diligence process unfolds and what investors are looking for.
Free snacks and alcohol provided.
Date: Tuesday 20th August 2019 – 6pm – 8pm
Location: We Work – 100 Harris street Pyrmont
Speaker: Rick Chisholm – the elite serial Entrepreneur has generated direct sales revenues in excess of 300 million in his own companies across 14 industries, Author of “Business Success for Life”, “The Successful Start-Up”, “Success in Leadership and Influence”, “Developing your Business Acumen”, and many other publications, founder of Innovest SME, thought leader in LEAN start-up, bootstrapping and alternative business models.
If you’re ever going to get business advice from anyone, you’d want to make sure it’s from someone who has succeeded in business several times over, right? Better still, you need to ask someone who as failed in business a few time too! So, this is a little bit about me and what I’ve been up to over the last 35 years:
When I started my first business as a DJ in Sydney I was full of energy and enthusiasm (like most of us in business!) and life looked good! I was making money, I was in demand and I was loving it! What more could I ask for! But soon enough, I came up against the 3 biggest obstacles that most sole operators and small business owners face: Time Money People
I was trapped by my own business, working 100-hour weeks, living on breadcrumbs and had zero social life. In so many ways I was worse off than having a job. But that was 35 years ago. And since then I’ve learnt a trick or two. I worked out how to bridge that gap from lifetime-jail-term-business to scalable- saleable-real-business in all my 30+ businesses in the following 35 years.
My experience spans across many different industries including Retail, Wholesale, Importing, Manufacturing, Installations, Hospitality, Franchising, Rental, e-commerce and Training. If there was anyone that has tried and tested small to medium business, it’s me! I also have joint ventures in AI, an events company, an automation Tech company a legal firm and a Financial Advisor company.
A few years ago, my businesses were turning just under $20mil per year and were the market leaders in their niche. We had 67 staff at the time and things were progressing well. And then, the GFC hit. Bricks and mortar retail was hit by online businesses and our importing was hit by eBay, Amazon, Alibaba and factories drop-shipping from China directly. Discretionary spending plummeted and the future of the businesses looked bleak. After a gruelling few years, we managed to pull our businesses back out of difficulty.
Not only did the businesses recover, we became significantly more profitable than we were before the GFC. Scoring a whopping $750k turnaround in profitability over a 4-year period, things finally looked up again. The dark circles under my eyes eventually weren’t as dark and my stress levels resembled normality (this stuff is not magic, I still am in business you know). So there you have it. If there’s anyone out there who understands the struggles of business ups and downs, staff challenges, cashflow droughts and how to invent and re-invent your business, it would be me!
About the Venue
WeWork is the platform for creators. We provide beautiful workspace, an inspiring community, and meaningful business services to tens of thousands of members around the world. From startups and freelancers to small businesses and large corporations, our community is united by a desire for our members to create meaningful work and lead meaningful lives—to be a part of something greater than ourselves. Co-founded by Adam Neumann and Miguel McKelvey in New York City in 2010, WeWork is a privately held company with over 10,000 employees.