Day 134: New Seeds for Funding Growth

by Sarah Devika Sumnauth


So today being a brand new day, I would like to start a brand new train of thought.  Over the last week, since sitting down with my good friend Jen to talk branding, I have come to the realization that outside of my own personal savings, salary and business credit, I will need to pursue some aditional funding. This realization comes in light of other persistent ideas that have been swirling around my head that have led to the belief that I want Urban Minerals to really grow.  The impetus for all of this has been the conversation I had with miss. Jen and her experiences working for another startup - the understanding that there is often a need for capital for the things that you may not realize that you will need (tricky, right?)
 
 
I am not so naive to belive that I can foot the bill without driving myself into debt and so as a means to begin proactively remedying the issue at hand, I am going to start brainstorming and strategizing.  I have begun to actively think about what the best options are for me.  This means, do I want to pursue government grants? Young entrepreneurs loans? Bank loans? Investment?  What kind of investment? What is sustainable for me?  On what scale?
 
 
You can see how this could quickly devolve into a I-have-no-idea-what-to-do thing?  Right?  Which let’s face it, is a feeling that I often come up against.
 
 
But not to worry. 
 
 
I have always felt that research is one of my strong points.  While I could just allow this to bring me to a standstill, because I feel that finances are not my strong point, I prefer to use this as a learning point.  I believe as I may have said in the past many times, that this is just one lonnnng learning curve.  This process of starting up my business has time and again proven to show me something about myself.  Whether that be my resilience, my persistence or just my love of learning.  I take every challenge as a starting point to improve.  And yes at times it can feel a bit exhausting, but I can only say that it has so far proved worth it, just by virtue of the people that I’ve met, the things that I’ve learned and the new energies that have come into my life.
 
 
So with all that said, I do remember another old friend of mine I used to work with, Mia, giving me her boyfriends contact info, Jared, who also owns his own business.  I should you use the plural, businesses, because he’s what you could call a burdgeoning serial entrepreneur, with two successful businesses under his belt under the age of 30…heck even 27.  Well he had given me a potential source for business plan writing and funding this past April at the Canadian Youth Business Foundation, which is as good as any, a great place to start.  I am a young Canadian business person in search of foundation after all…
 
 
(Lame I know…forgive me?)
 
 
I want to check out the CYBF’s programs as well as the Toronto Business Development Centre for sources of inspiration and from there go forward with a plan that will aid me in writing a kickass business plan.  At the point where I’m at, I have all the puzzle pieces, I just have to put them together and make them beautiful.
 
 
Anyways, that’s all for today.  I’m off to do some first steps research, to gather my wits about myself and hopefully stumble upon something AMAZING. 
 
 
Here we GO!