Sunday, May 29, 2016
Something Old, Something New, Something Borrowed .....
Last week I wrote my first blog of the year, I didn't promote it on social media the way I used to, I had to get writing again, make sure I'm comfortable with what I'm saying. Ironically in the same week I had a number of people question why I stopped writing, they had been enjoying my story, so to quote the amazing Dolly....
"Here I go again"...
I told you about the many things that were happening for us at The Delicious Food Co, new packaging, new shop, new crowd funding with Linked Finance....it's a busy scary time,
We first put our toe in the water of Crowd Funding a few years ago via the wonderful team at Linked Finance. For those of you unfamiliar with the concept: lenders commit to lend money to small businesses at a rate decided by them in an auction type process. It's a simple idea, the banks will give you 1% on your savings, but take a risk, back a small business (vetted by Linked Finance) and you might get up to 15% on your investment
Everybody is different, but if I had money to invest in a small business I would certainly expect no greater rate of return than the banks. It's a moral/ ethical thing for me. So we have opted for a three year fixed rate of 8.8%, so reaching our target may be more difficult when we exclude those offering above this rate, but we will feel better about our new business partners.
Crowd funding is a difficult personal exercise, you need to write a profile of your business, your accounts are published & available to those registered with the site....you feel very exposed & vulnerable.
I suspect it's a lot like being on Tinder...putting yourself out there & seeing who's attracted enough to make a move.
So far we have over 26 wonderful people who have backed us to the tune of almost 20% in 3 days and we are not just grateful but touched.....For you & all of you coming down the track, I want you to know that we have been invited by BWG to exhibit at their annual Suppliers Conference in Citywest on Wednesday, in the category of Emerging Suppliers. and I want you to know that when I am there promoting The Delicious Food Co, I will be doing it not just for Mr Delicious,our team in the kitchen & me, but I'll be doing it for you, our current lenders and our future lenders, making you proud,
ensuring your return on your investment, hoping you spread the word...of this innovative world of crowd funding..
If you have a minute check out the blog I wrote when we last crowd funded with Linked Finance in 2014...I think you'll enjoy it.