How to navigate starting and scaling a business: Female aussie success stories
How do you take an idea and turn it into a viable business? It might sound good in your head and look good on paper, but how can you be sure that that will translate to a successful product with healthy revenue and long-term potential?
Maybe you then want to increase production volumes or expand your product range. How do you find the confidence and resources to take that next step and grow your business?
As featured on Episode 6 of TickHER, a Ticker Originals TV Show, we hear from two female-founded Australian businesses about how they navigated these two important stages of starting and scaling up their business.
Have your coffee – and eat it too
Did you know that every day, Australians dispose of 2.7 million coffee cups? They might be made of paper, but they’re often lined with plastic, meaning they are not recyclable or biodegradable. 90% of this huge volume ends up in landfill and in our oceans. Catherine and Aniyo, founders of Good Edi™, put their combined experience of over 20 years in food processing and packaging to create a coffee cup that’s sustainable, edible – and delicious.
The Good Edi™ cup is 100% vegan, made of oats and grains and all production is done locally in Melbourne, Victoria. Even if you don’t want to eat your cup that’s like a waffle cone, you can plant it or compost it and if it does end up in landfill, it will break down naturally.
It started with crowdfunding…
Good Edi™ is only just over a year old and their beginnings stem from a successful crowdfunding round that raised initial capital for production. Catherine and Aniyo had started their proof of concept and chose crowdfunding to facilitate the next step because a “big benefit” of the process for them was market validation. They saw the positive response from backers (who received the edible coffee cups as rewards for a fully-funded project) as a solid indicator that the market was ready and willing to back Good Edi™.
What’s important to remember is that although a crowdfunding campaign is a relatively low-risk way to start your business, there are still high stakes involved. First impressions count and so before you start your project on Lift Women, it’s essential you have refined your pitch copy, organised logistics and fulfilment and planned marketing efforts.
At Lift Women, we have a plethora of free blog resources that help female founders put together a powerful pitch. As a Lift Angels™ member, female entrepreneurs have exclusive access to our Crowdfunding Playbook, which includes how to structure their pitch as well as a content calendar template to plan their marketing. Lift Angels™ members can also apply for free copywriting support to elevate their pitch. Find out more about Lift Angels™ here.
All-natural products only under your kitchen sink and in your laundry
Euclove has been bringing natural, effective and affordable cleaning products to the market since 2017. Chelsea, the founder, was inspired by her mother, who had a passion to keep the family and home environment safe from chemicals. Euclove’s first range of cleaning sprays, soaps and cleaners use Australian natural ingredients like Blue Gum and Eucalyptus oils, as well as incorporates the antifungal and antiseptic qualities of the Indian Clove oil.
How to take the leap of scaling up a business
What started in Chelsea’s kitchen and garage with 18-months worth of product development swiftly moved to a factory in order to keep up with demand. It’s a milestone achievement when you reach the step of increasing production capacity. However, it can also be daunting – “it’s a scary stage in your business because even though demand is going up, the costs are [also] going up [and] the way you need to produce shifts and changes,” says Chelsea.
Today, Euclove is on the verge of another “scary stage” as Chelsea looks to expand their product line, according to the wishes of an engaging and loyal customer base. To push through and take the leaps, Chelsea’s advice is that “you’ve got to be confident and understand where you’re going [in the] long-term.”
This is where having a strong vision and a comprehensive, strategic business plan is crucial; the vision is the big, beautiful shining beacon in the distance that keeps you motivated and the plan is built of the focussed steps you need to take to get there.
Scaling a Business with Lift Women
At Lift Women, we offer free 30-minute strategy consultations for this very reason – to ensure our female founders have a strong foundation from which to start or scale their business. If you are thinking about starting a project, click here to book your call with one of our crowdfunding experts today.
Inspired by the two stories you’ve just read about? Be sure to watch Episode 6 of TickHER and follow @good_edi and @eucloveclean for more.
