Your Startup Guru created an informational deck and grant proposal which will be used to help raise additional capital for its operations.
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Your Startup Guru client Corrio is applying to present by panel discussion at SXSW PanelPicker Online 2021. Your Startup Guru created a pitch deck for Corrio which allowed them to fundraise as well as enter into a private group of international members comprising an angel investor networks.
Corrio was accepted last year but with the pandemic, plans had to change.
I just got off a call with a client to discuss a brilliant pivot for the business he purchased using a business plan I created for him last year. The pivot was an adaptation to the new normal and to mitigate the losses from the delayed renovation and opening caused by COVID-19. A pivot usually occurs when a company makes a major change to their business after determining that their product/service isn’t meeting the needs of their intended market.
How to Pivot
This call reminded me of some other recent examples of businesses changing their operations to survive and sometimes thrive in the COVID-19 economy:
You might have heard of the now-famous Goat-2-Meeting. That is the creation of Sweet Farm Foundation, a non-profit animal sanctuary in Northern California that is offering videos of their animals to be used for Zoom meeting backgrounds. Due to the popularity of their service, sales are slightly higher than this time last year.
Lumen Couture makes wearables, which are fashion items that embed electronics and technology into stuff you can wear. They design fancy, red-carpet-type gowns that shimmer and sparkle when you’re walking for very high-end events and ceremonies. Because events and ceremonies are now on hold, they shifted most of their business to making masks, which people do want now. They designed a black mask that has a screen across the front almost like a scoreboard, saying things like, “six feet away.”
Golem Bookshop, an independent bookstore in Turin, Italy started free deliveries by bicycle in Turin in response to a shutdown order in March and began offering curated selections of books – themes like revolution, obscure authors you’ll love, indie books. Customers loved the selections so much they started shipping orders all over Italy. Normally Golem sells about $7,000 worth of books per month but in April, they sold almost $20,000 worth of books; it was actually their best month ever.
In times of crisis, coming up with a profit or even surpassing last year’s sales is ideal but anything to mitigate the cash hemorrhage is fine. To pivot, for example, a business might have to change its revenue model which means potentially canceling contracts with existing vendors. This is one of many crucial decisions that the business has to make because once the pandemic passes and the current new normal makes way for the new-new normal, it may be difficult to get supplies in time and at the original pricing.
Each business is different and solutions are not one-size-fits-all. Contact us and let’s figure out what the best steps your business should take to adapt to the new normal.
Javier Fregoso started Mexicali Taco & Co in 2010, with not much money to open a restaurant he decided to start humbly only at a parking space near Downtown LA, with only a cart and a pick-up truck he started his dream of serving good tacos. The word started to spread out and eventually, they had a crowd of hundreds of people following them, in only 2 years plus blood, sweat and tears they were able to open their first brick and mortar in 2012, he always had that goal since the first day setting up of bringing the best tacos to Los Angeles, after opening the restaurant it became a huge success, it was a no brainer for them, they had a vision and they made it happened. Now in 2019 Javier decided to bring a better, higher and revolutionary concept to Orange County. After marrying his beloved wife Danielle, Mezquite was created, a new generation of tacos that will bring quality, authenticity and dedicated customer service to provide the best experience just like if you were at a family BBQ.
Raffle Rush is a useful app where if you’re at an event, you can enter draws to win exciting prizes throughout the day. All you need to do is download the app, sign up and scan the relevant QR code. And voila! You’re ready to up your chances of scoring big. Your email is your sole ticket to success!
Your Startup Guru worked with Anthony to create a business plan which allowed him to find financing to help launch Raffle Rush.
Shred Moto Co. is a motorcycle dealership based in Chatsworth, CA. They came to Your Startup Guru for help securing the various permits and licenses needed to operate their business. However, as any business owner will tell you, permits are just the beginning. As such Your Startup Guru is providing bookkeeping services so ensure their new business continues to remain profitable and well managed.
Even the most capable organization needs help sometimes in delivering on their service offerings. I was able to help Rise Above Enterprises with some complex financial modeling for one of their projects.Rise Above Enterprises is a full-service, independent, global agency focused on helping clients thrive in unforgiving -moving business climates. From product launches and spin-offs to mergers, line-extensions, and complex cause-related marketing efforts, we build value and leadership with every step, turning key moments into critical success.