Raising Money for Your Dream with Concetta Rand
On this episode of Martinis and Your Money, I am talking to Concetta Rand, Chief Revenue Officer of the new crowdfunding startup for women-led startups and small businesses, iFundWomen. As an entrepreneur, I understand the importance of raising money for your dream to become a reality, and I also understand the struggles of doing it. iFundWomen is making it easier for other women’s dreams to come true – so you know that’s something I want everyone to know about! Listen and enjoy. Cheers!
If you would like to have more of a say in the direction of this show, I encourage you to fill out my survey and let me know. Find the survey at financialgym.com/martinis and let me know how I can continue to make this an educational, informative and fun show for you to listen to!
What are we drinking?
Concetta — her second cup of coffee
Shannon — her first cup of coffee
- Shannon found iFundWomen through the group, Dreamers and Doers.
- Shannon shares that she is in the process of raising money for her company and that the fundraising process is the absolute worst.
- iFundWomen was started in November 2016 and will have helped the businesses on their platform raise over $1,000,000.00 by the end of this year.
- Shannon and Concetta discuss the statistics of female-led venture funding compared to male-led venture funding.
- iFundWomen is a rewards-based platform – no equity is sold so instead companies offer perks, rewards, incentives or products in exchange for monetary contributions.
- It follows a pay-it-forward model where iFundWomen directly reinvests 20% of its standard fees into live campaigns on the site!
- Dedicated crowdfunding and business coaching is provided to everyone on the platform.
- Over 1,000 businesses have applied for funding at iFundWomen and over 150 campaigns have run and been successful.
- Shannon asks Concetta what the process is like to get on the platform as a female entrepreneur.
- Looking through iFundWomen’s campaign guide is the first step.
- Shannon shares the advice she received when she first started raising money for the Financial Gym.
- Crowdfunding isn’t about begging for money – it is about putting your plan into action and asking your community for support.
- Concetta explains reward planning and provides examples of successful rewards.
- Some businesses that have had successful iFundWomen campaigns include:
- Shannon talks about the angel investor that invested her company, the Financial Gym.
- Crowdfunding forces you to prioritize talking about your business and broaden your network.
- You can’t be afraid to ask the first time and you can’t be afraid to ask multiple times!
- Shannon discusses the Financial Gym’s “Hey Neighbor” campaign.
- Three things female entrepreneurs need to thrive in the startup world are:
- Access to capital
- Access to coaches and mentors
- Access to success stories
- TAKEAWAY: If you have an idea or a vision, put it out there. There are plenty of people who want to make that a reality for you – you just have to give them a way to do it.
Random Three Questions
- What do you think is one of the most successful women-founded businesses that other women should look to for inspiration?
- What is a book or movie that has changed your life?
- If you were to win a million dollars, what would you do with it?
Connect with Concetta:
If you need or want someone to help you figure out the financial plan to make your dream a reality, I hope you’ll reach out to my team at the Financial Gym. You can schedule a free call to find out more here. No matter where you are in your financial journey, my financial trainers can help you get where you want to go. Head over to financialgym.com/friends to sign up today!