We Might As Well Shine Together

The culture of money has created an individualistic economy particularly in the United States. This mindset has not escaped the sphere of entrepreneurship and may, in fact, be a leading factor to the popularity of individualism.

Maybe individualism is not a problem. Data from TechCrunch shows that out of 7,348 companies almost 1/2 that raised more than $10M have only 1 founder. Additionally, over 1/2 the companies lead by 1 founder saw a successful exit.

Graph of founders that raised more than $10M

However, Kamps follows this data with a disclaimer that “it’s possible to raise money and secure an exit as a solo founder, that doesn’t mean it’s a fantastic idea.” Your level of entrepreneurship is just as dynamic as your relationships. Will centralizing your team limit the potential of your business?

Having a co-founder relationships can reduce your stress level, diversify the team’s skillset and build confidence with potential partners. Yet, co-founders can bring additional conflict and make it more difficult to make decisions. Since it is clear you can grow on your own, don’t let that limit you from starting and scaling your business. Then, you can take the time needed to find co-founders that bring new ideas and skills while maintaining a similar level of compassion and empathy.

Also, you can decentralize your team by hiring employees. In The Finance To Hiring For Your Business, TheTagan chats with Shondra Washington to breakdown this overwhelming process.

Shondra Washington

The Culture of Money

Counting Money with a notebook and pen

Many are overworked and underpaid due to the culture of money. This does not exclude business owners. The process of searching and applying for opportunities can become a full-time job for founders. How can decentralizing your funding strategy help you get funds?

Arlan Hamilton raised $37M from LPs to invest in founders through Backstage Capital. As a solofounder, she found ways to decentralize her funding strategy. Recently, she raised over $1M from 2,587 investors on Republic. Additionally, she launched Backstage Crowd— a crowdfunding platform supporting non-accredited investors.

Accelerators are an opportunity to gain knowledge and network to scale your business.The Ally Accelerator provides a platform for Black, LatinX, and other women of color to become powerhouse startup contenders in the tech ecosystem. Discover Fundamentals, Management, and Scaling and Growth processes through expert-led seminars and 1:1 mentoring.

Apply for the Ally Accelerator here

Pitch competitions can be a win even if you do not get the prize money. Pitching your business while things are hot or just before a new launch can be a signal to your community and attract new supporters.

Apply for the Black Futures Pitch Competition for $10K

Grants are additional funds that can support your business. Searching and applying fro grants can become a full-time job. Instead find a community that is ready to support you. Gitcoin allows you to learn, earn, network and build through matched crowdfunded grants. Share your idea or product to gain support from this vibrant community.

Create a Gitcoin Grant here

The Culture of Marketing

Tug of war stick figures

Media and marketing lead the culture of money. Marketing strategies tend to exist in centralized spaces such as your favorite social media platforms. So, how can decentralizing your marketing strategy help you get funds?

Instagram likes are somewhat a win. However, the best way to grow your posts are saves, sends and comments with text. Create an influencer group with other founders to boost your posts.

Download the The Savings Club Guide to turn your savings club into an influencer group

Find outlets with niche communities to promote your media. BLACKpreneur just launched an app to curate media and build a community through an open forum.

Download the BLACKprenur App

DM BLACKpreneur on Instagram to get your media on the app

Non-Fungible Tokens (NFTs) are providing new revenue streams for those selling art and music. However, the technology behind NFTs presents endless possibilities. Set up a marketplace to monetize and grow a community.

Set up a marketplace on Collector’s Hub

Set up a marketplace on Rarible

Design your own NFT protocol with Open Sea

Sharing Is Caring

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