Laura and stacy started nourish, a company that manufactured spill proof water bottles. After testing demand for the product on line and in butiques, stacy and laura attempted to get the bottles on grocery store shelves. In the process, they encountered a problem that afflicts many small businesses: large distributors weren't paying invoices anywhere close to on time. The cash flow problems that ultimately force them to close down nourish inspire their next start up. Now account. Over a thousand businesses have used now to get paid.
Thinking about starting a small business? Or looking to expand a business you’ve already launched? Entrepreneurs Stacey Abrams and Lara Hodgson were blindsided by the cash-flow problems and other systemic issues they ran into when trying to scale a new but popular product. They don’t want you to be.
Stacey and Lara share hard-won lessons from starting and running three companies together: first a consultancy, then a manufacturer, and finally a fintech. They reflect on what made their long-term partnership work well and how they manage self-doubt and guilt. They also share tips for networking, hiring and retaining employees, learning the ins and outs of finance, and developing an exit strategy.
Guest experts:
Stacey Abrams is an entrepreneur, politician, and author. She co-wrote Level Up: Rise Above the Hidden Forces Holding Your Business Back.
Lara Hodgson is the co-founder, president, and CEO of Now, as well as the co-author of Level Up: Rise Above the Hidden Forces Holding Your Business Back.
Resources:
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