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How to do the Business of Raising Capital.


The Action of Doing it

This week saw me submit my first grant application a couple of days ago. I have always had a block to the idea of how to do the business of raising capital. I know my business will succeed but the timeline was a bit uncertain. Money has been slow in coming in with just enough to cover the costs of new software and hardware. The plan has always to run workshops for songwriters to create a steady income. Form them I can find the artists that I would then collaborate with, launch and promote. My long-term plan has always been to launch artists. Then earn my money from my share of the royalties that our collaborations earned.

Accepting Help

The grant funding allows me to buy equipment that will directly benefit the business. Both short term and long term.  It will also allow me to set up my website as an ecommerce site. This will power my business into the future. Lastly, I wanted to make the workshops as accessible as possible while paying myself a wage. So, part of the grant will compensate half the cost off the course making the cost $130 for 2 days of workshops.

Getting my head and heart around asking for money has been a journey, in itself. As I reflect back on previous businesses, I can see that I was beaten by my pride. If I had laid it down, I would have had a better chance at success. If I had asked for help, financially they may not have failed. One of my greatest challenges in the past has been having the money to buy the resources to run my business well. The difference this time is that I am studying full time and therefore getting Centrelink payments as a student. I am using this time as I lead up to finishing my degree as a time when I can build the foundation of my business. The bills are covered by my Centrelink payments and any money earned by my business is being use to resource the business.

The Plan moving Forward

The grant, if I get it, starts just before I graduate and therefore, I can start running my business the week after I graduate. the beauty is that my income becomes seamless. All the stress of trying to provide for my family becomes a lot easier to achieve without compromising the growth of my business.

The future looks bright as I ask for help to create a business to support my family. All this whilst giving local Ipswich songwriters the chance to realize their dreams and earn a living from their talent.

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