Scared to Talk Money? Don’t Be—You Got This
March 12, 2020

Scared to Talk Money? Don’t Be—You Got This

Business Models, Raising Capital, Sales and Marketing

Many food and farm entrepreneurs know their way around a kitchen or carrot crop, but when it comes to the financial stuff, they feel out of their lane. For some, numbers have never been their strong suit so they’re intimidated by it all. Others grasp the basics and even do a fine job of tracking sales, expenses, profits and losses but then have a hard time seeing what to do with the data. Others actually know way more about money than they think they do, so when talking about it, they sell themselves short. Do any of these people sound familiar?

Without question, in order to grow their companies, food and farm entrepreneurs must gain a decent understanding of the money-related aspects of their business. Beyond just keeping their ventures afloat, having a firm grip on money matters allows them to have confident, productive conversations with retailers, brokers, distributors, suppliers, banks, accelerators—and especially investors. All too often, entrepreneurs go into meetings with potential partners confident about their branding, product attributes or founder’s story, but they gloss over the money stuff or speak about it timidly.

This is especially common among female business owners, especially when attempting to raise capital. While the investment world has become more diverse in recent years, it’s still dominated by men, which can be intimidating for women pitching their companies. Sometimes outdated stereotypes linger about what women can and can’t do and how much they can really know about money. And sometimes it’s the female entrepreneur—not the table full of men—who is casting these doubts upon herself, potentially hindering her chances of scoring an investment.

Our latest podcast features an excellent discussion about this. Tera talks with Sacha Dhanjal, founder and president of Saffi Foods, about why it’s crucial to not just know your numbers but also to talk like you know your numbers. Sascha admits to being intimidated about the financial side of her business at first. But through Tera’s mentorship, she learned the importance of going into a room with confidence and showing that she knew her numbers inside and out.

Sure, there may be a learning curve in understanding the money stuff, bigger for some than for others. But the good news is nobody has to go it alone. There are plenty of excellent resources available to assist entrepreneurs in financial matters—including the Food Finance Institute—so they can pitch their awesome company without fear.

And now, our roundup of the best food and beverage finance news, events and resources from around the web…

Consultant With TabletBusiness Model Insights

Raising CapitalRaising Capital

National Wholesale BrandsCPG/National Brands

Grocery Store Produce Section Market Trends

Regenerative AgricultureFarming and AgTech

Mergers And AcquisitionsDeals/M&A

EventsIndustry Events