068, Founding and Funding, Part 1 | Jackie Biederman and Tony Loyd

Founding and funding a social enterprise: how do you start and what do you do? Every Friday in April we’re going to talk about practical tips to help you become a startup founder and how to fund your dreams. Today, we’re going to kick it off by discussing the series with practical advice. The series will touch on 10 different themes:  

1. Personal Development – Self-awareness, self-management, social awareness, relationship management
2. Determine my aspirations - Social impact, freelancer, join a company, found a startup, create a small/medium enterprise, system-wide change
3. Design the business - Customer empathy, ideation, problem definition, rapid prototyping, minimally viable products, field testing
4. Define the business - Business model, customer segments, value proposition, product-market fit, channels, partnerships, cost structures, revenue streams
5. Fund the business - Bootstrapping, pitching, friends & family, crowdfunding, angel investors, seed funding, venture capital, Series A
6. Launch the business - Structure, competitive advantage, product development, pricing, distribution, IP
7. Customer relations - Find first 100 customers, awareness, attraction, conversion, retention, resell, upsell, build a tribe
8. Scale the business - Sales, marketing, online presence, SEO, social media, defining choke points
9. Optimize the business - Impact assessment, business metrics, systems, automation, templates
10. Lead the business - Strategy, communication, hiring, coaching, managing, motivating, creating culture

To help us kick off the series, I brought in a co-host, Jackie Biederman of the Changemaker Podcast. In this episode of Social Entrepreneur, we talk about:

• What are the goals for this series? (5:34)
• What topics will be covered? (8:07)
• Why are you qualified to talk about this? (11:50)
• Planning versus doing: which is more important? (14:06)
• What makes a great leader? (17:21)
• What are some tips to increase our sense of self-awareness? (20:19)
• What advice do you have on bootstrapping? (32:47)
• What are the biggest pitfalls for entrepreneurs to avoid? (37:29)
• How do you know when it's time to stick with an idea and when it's time to let go? (41:42)
• What practical recommendations do you have for social entrepreneurs that they can apply today? (43:33)
• What is one unexpected but important lesson you're learning as you start your company? (45:18)
• A call to action (47:56)

Mentoring Giveaway:

Throughout the month of April, we’re giving away ten one-on-one mentoring calls to help you launch or grow your social enterprise. We’ll be drawing each week. To enter, go to http://tonyloyd.com/coaching

Founding & Funding Resources:

• Changemaker Podcast: http://www.changemakerpodcast.com
• Book: Opposable Mind: Winning Through Integrative Thinking: http://amzn.to/1VBEbUv
• VIA Survey of Character Strengths: https://www.authentichappiness.sas.upenn.edu/testcenter
• Wordle: http://www.wordle.net
• Blog post on 360-Degree Surveys: http://tonyloyd.com/receive-360-degree-feedback-youre-solo-entrepreneur/
• Book: Fascinate, Revised and Updated: How to Make Your Brand Impossible to Resist: http://amzn.to/1qa9Osj
• Fascination Advantage Assessment and Report: https://ea106.isrefer.com/go/FAA/tonyloyd/
• Book and Assessment: StrengthsFinder 2.0: http://amzn.to/1qaawpw
• Enter to win a one-on-one mentoring call! http://tonyloyd.com/coaching
• Try Audible and Receive Two Free Audiobooks: http://tonyloyd.com/books