Today’s class is all about financing your start-up!
We reviewed how our personal budget helps determine how much we need to pay ourselves to be able to stay in business. That amount must be tied into our cash flow projections as a fixed expense in our monthly budget (as an owner’s withdrawal / salary). So we covered 5 major ways to finance a new business…from cash-flow friendly sources to financing options.
But first, we were happy that another guest speaker could share some local insights with our class.
Caitlin Thompson of Rainforest Consulting shared that she just started her own new business as a writer and consultant. Her first contract is working for Aboriginal Tourism BC to help them raise awareness about their Authentic Indigenous artist registry program.
“There’s two main goals for the Authentic Indigenous program. First, we want to make sure that the artist is fairly compensated for their work… whether they sell it themselves or through a retailer who is approved as a company that pays artists fairly for their work.
The second goal of the program is to help buyers find artwork and performance work that is authentic – made by (or made for) a real Native person. Many people want to hire or buy from a real artist – they will seek out authentic art. It’s important to us that the artist controls which pieces or talents they highlight on their page. We can certainly help them to write their own bio, but the artist determines what prices they list (or don’t), which places or locations they share as contact information, and what ‘artistic statement’ they want to share with the world.”
You can find more information at www.authenticindigenous.com