In this Masterclass, we focus on the all-important question: how are you going to fund your design venture?
The road to success can be expensive in the fashion and design world. There are high upfront costs to create each product, and it takes time for your initial investment to yield profit. Not everyone has the funds to start a brand. So you may have to find other sources to fund your venture before your brand is fully functioning and profitable. Fortunately, there are many funding options for new business owners to explore until you make a sustainable income.
We're taking an in-depth look at all the options, from bootstrapping to crowdfunding and everything in between. We've got a fantastic line up of guest experts and interviews prepared for you.
In this Masterclass you will learn:
- The financial metrics you need to consider in your business plan, and what they mean
- How to use financial data to your advantage
- Common funding options, including debt, equity and venture capital
- What the 'triple bottom line' is
- Ethical funding options
- How to figure out if your idea is fit for crowdfunding, and how to prepare it
- Tips for researching and launching your crowdfunding campaign, including the different types
- The different avenues ethical businesses have taken, and their advice for your journey
- How to get to grips with cash flow, with short and long term actions to sort it out
Introduction To Finance For Fashion Businesswith Indre Butkevicute
This is a 19 minute Lesson that covers what finances you need to consider in a business plan, the different types of data to be on top of, and how to use this information in a smart way to make essential business decisions. Expert Indre Butkevicute is the founder and CEO of Lily Advisory, a community and platform designed for women that provides them with the tools and knowledge to lead a financially sound and business savvy lifestyle.
Different Sources of Fundingwith Nick Howe
This is a 37 minute bumper Lesson from leading UK bank Natwest's Enterprise Manager, Nick Howe, who talks you through all of the funding options available. He explains what they mean, things to consider before you look for funding, and where to apply for it.
Ethical Business Fundingwith Lisa Stanley
This is an 8 minute Lesson from co-founder of Good With Money, Lisa Stanley, who discusses some of the ethical factors to consider when looking at money and using your principles as added value. Lisa was previously head of communications for pioneering ethical bank Triodos Money.
Crowdfundingwith Raimonda Jankunaite
In this video, Raimonda speaks on everything crowdfunding. We talk through the different types and detail exactly what to have in place to run a successful crowdfunding campaign.
How To Pitch To Angel Investors For Fundingwith Elizabeth Pirrie
This is a 4-minute lesson that will give you five tips to support you in pitching to angel investors for funding. Elizabeth Pirrie is the Chief Operating Officer for Investing Women and AccelerateHER, a vibrant network of female founders and partners who share a passion in accelerating the growth, visibility and backing of talented female founders. These organisations provide an inclusive and supportive environment for women to explore investment opportunities and to grow their collective portfolio, while identifying opportunities for angels to support, and invest in, female-founded businesses.
So how do you get yourself in front of an angel investor with your business idea or innovation? What considerations should you make so that they believe in your pitch, and subsequently invest in you?