On Being Intentional.
I couldn’t raise money.
I had no track record.
And my Payroll kept increasing.
I applied to emerging manager programs and cold called everyone possible.
After each meeting, Investors found novel ways of telling our team “No”:
- “Affordable housing doesn’t work.”
- “Rebuilding low income communities is not a sustainable business model.”
- “Buying distressed assets is too risky.”
Rejection after rejectio
Along the way I learned something that saved our business:
It was more important to be self-sufficient than to depend on external capital.
Our team needed to change our strategy.
So we invested in novel ways by collapsing our supply chain.
We found international distributors to drop ship our supplies.
We renovated on a narrow budget.
We fired low performing employees.
Our operating expenses decreased dramatically.
Then our working capital started growing.
After 3 years of grinding our faces off, we acquired our largest portfolio.
Suddenly, our mission driven business became a profitable.
Investors started taking note.
We were back in business.
Now, we are growing faster than before, reinvesting in more exciting communities, and helping them flourish along the way.
Moral of the story: If you are unsuccessful at raising capital, don’t sit around waiting.
TAKE MASSIVE ACTION.
How much does success matter to you? For us it meant everything.
Be intentional.
Amplify your strengths and you too can build the business you always dreamed of.
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As always — I love hearing from my peers.
Please share your experiences in the comments :)
With Optimism,
André
