Saturday, May 17, 2014

My Journey 4 (Challenges with Financing and a CSR project from my class)

Setting up a business is quite challenging and very involving, I just did not realize this until now that I have fully immersed myself into this whole process that I had to take time off my blog to attend to the many demanding activities that need my attention. For one day I threw everything down and decided not to do anything at all not even responding to calls on my phone I just slept out of exhaustion and frustration.

I am also appreciating my passion and the fact that I believe strongly in what I am doing and its potential that I had to wake up the following day and push on.

I have reached a place where I need to now bring in the supplies and get off the sampling and start targeting actual sales. However Financing is quite a challenge since I have to balance between loose cargo shipment costs if I bring in a few  (100 cartons) and bringing in a full container that best utilizes and minimizes the costs as a result of one consignment.

I have learnt with so much disappointment that in Kenya most people are wary of financing a new business even when they agree that the business has potential and would like to be associated with it but in future.

I was visibly annoyed when one institution in the process of negotiating and failing to come to an agreement later on sent me an email requesting that I advise when we launch the products and that they would want to have a presence in the launch. I have not responded to the mail to date, and have been wondering what do they take me for?

The other alternative that was open and I seriously thought about it was short term financing which I could not believe the rates charged of up to 15% per month and I kept asking myself do they mean to tell me that I will only be working for them seriously, so what do my clients get and how do I cover my operations costs.

This has delayed my launch as I work through the financing. Thanks to me family that has raised part of the capital and I have to work through the balance to make commercial sense. In the meantime I have to go back to crowd funding and run a serious campaign (anyone out there who can help me manage the campaign and raised the required funds i am open to your support and help with this part) to get funds shortly since I believe I am on the right track and this can work. My link  is https://fundrazr.com/campaigns/8jpp5/ab/93CTRd and would encourage you all to start contributing and be part of my success and story.

To divert a bit to other things happening in my life as I balance my duties as a mother, a wife, lately a business woman and a Student, Monday classes resumed for the summer semester and the last semester for me before my graduation in Organization Development in August 2014.

I am taking this class on Project and Fundraising and part of the course work requirement is to develop a proposal for a community based project that will benefit a community. I have decided to stretch if further and do a proposal based on my entrepreneurship business model that will build reading rooms for young people to be able to access modern reading facilities after school hours.

I have done a draft and hope to share this with well wishers and donors. I will also tie this to my Fundraising campaign https://fundrazr.com/campaigns/8jpp5/ab/93CTRd  that will eventually see that the full amount of funds raised will be channeled towards this worthy cause.

This gives me more reason to ensure that the business is a success and sustains itself enough to allow me withdraw all the monies received through my campaign from the business to benefit a young person by providing them with a safe, secure and modern facility to study after school hours or during school holidays now that tuition has been banned by the government.

Today is Saturday and I need to place my orders yet I still have to raise 1/4 of the balance and I have no idea where from. I need a miracle by Monday morning and my contacts interested in the products have started calling for follow up meetings next week. I Trust that God will make a way in this and Monday 19th I will surely confirm the order to arrive on time for the launch for 2nd June.

For more info call us on 020 2306839 or drop an email info@bradchelinvestments.com (email is faster)
 



Coming up are plans for the launch and products


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