How to Raise Capital featuring Amanda Steinberg founder of #DailyWorth

You are all that you can ever be right now in this moment and that is an amazing, beautiful wonderful person.

When Intelligence meets beauty — Amanda Steinberg of #DailyWorth

Amanda Steinberg is a mom of two beautiful kids and the Founder of DailyWorth who lives in Philadelphia.

Her story starts about fifteen years ago when she was working as a programmer and realised she was spending more than she saved.

To get ahead she read as many finance articles as she could but never seemed to get the advice she needed.

She knew that women were quickly approaching men as breadwinners yet somehow the numbers weren’t adding up.

That’s when Ms. Steinberg realized there was a gap between what women actually received and what they needed.

Filling a Market Need

Amanda’s goal was to bring financial management right into women’s inboxes in order to help you understand how to earn more and save more for retirement.

It took her nine months to raise capital for her big launch. The first $850k came from a string of investors. She tells us that the day the money actually arrived in her bank she was literally on the floor running on fumes.

As a programmer she has designed and written over 200 websites with budgets ranging from US $25,000 to $1,000,000.

During the next ten years she honed in on her sales skills, chased down leads and sought out capital.

The idea behind DailyWorth is so simple, it’s like the pink elephant right in the room.

Can you see it? 

I am safe in the universe and all life loves and supports me. Thx LH.

Just keep going.

In the mean time, if you are an angel investor, Hello! and Welcome!

Could I get you something to drink?

If you are one of my lovely regular readers or new here, can you please enter your name and I’ll send you updates here.

6 Steps to How Amanda Raised Capital 

 

 

 

  1. She realized she needed a mentor.
  2. She studied the email model.
  3. She put the pieces together one at a time.
  4. She learned the language necessary to approach investors.
  5. She approached investors with confidence.
  6. She wrote a great cover letter.

One of her mentors, Jen of jenbtv.com told Amanda she’d need least 25,000 subscribers until anyone would notice her.

Her success didn’t come over night. Amanda admits that what happened was serendipitously written in her business plan five years earlier.

One of her mentors told Amanda she needed four things:

1. A Deck. A deck is about 25 Powerpoint slides that can include your core values, mission statement, opportunities, market share you think you will acquire, your customer acquisitions strategy, who your competition is, how you position yourself in the marketplace and your exit strategy.

2. A Financial Model. This is a map of how you find your revenue and your expenses. She says she can really see it grow at percentages. For example a 3% investment might have you spend a bit more upfront but justifies how the capital will accelerate in the long term.

3. An Executive Summary. In this, you need a good cover letter.  She advises sending four or five cover letters a day saying what you offer while being concise.

4. Confidence.

What’s the difference between a Venture Capitalist and an Angel Investor?

A venture capitalist usually manages large funds over US$10 million. One way venture capitalists invest is by buying shares in your business.

This is known as equity.

An Angel Investor on the other hand is a wealthy individual who can give US$ 25,000 to US$ 100,000.

Early investors.

She got her first big break right in her backyard when her friend asked her to join her at the Summit conference in Washington, DC.

Amanda was sitting at a cafe networking when she met a man named Eric. She introduced herself and pitched her idea. Eric told her great, that’s exactly what they were looking for — a financial services start up.

Her next big break came when she decided to focus right in her back yard with great guys Joe and John from Robin Ventures, instead of the Silicon Valley, NYC and San Francisco.

Amanda got a last minute meeting. She put her suit on, drove to the suburbs and met, pitched and found two more fantastic intestors.

It might seem obvious but DailyWorth fills a huge gap in the market — that is specifically getting good financial information into the hands of women who not only need it — they want it.

Takeaway: What is your best investment advice? Have you ever had a start up company that took off? Have you ever met with an investor? Do you have a deck? What would you tell me to do to attract investors? Interested in investing here, click here

Don’t think #GeorgiaEnglish will come chasing after you.

I caught up with Georgia on day six of her forty day tour that takes her and her band, Georgia English and the Juke Box Kids to North Carolina, Tennessee, Georgia, Kentucky, West Virginia and Pennsylvania to see how she is holding up.

Gigs
Nashville, Tennessee: The 5 Spot
Nashville, TN: Springwater with My Politic and Daphne and the Mystery Machines
Franklin, Tennessee: Kimbro’s
 

Here is our interview:

Georgia English Thank you so much for sharing my album on your twitter! I really appreciate it. My mom has told me wonderful things about you! Great to meet you on and thank you for your support.

Julie Angelos  Well, young lady, you are most welcome. It’s a pleasure for me to tweet and write about you because we truly like your songs. We’ve been listening to them all day.

Georgia, tell me about your name.

Georgia English My mom really loves Willie Nelson’s version of Georgia On My Mind so I think that had something to do with it. My dad was really into Greek stuff and I guess Georgia translates to Daughter of the Earth.

Then I just lucked out with my last name!

Julie When did you start singing? 

Georgia I started singing like four years after I started playing guitar.

It just started feeling like the natural thing to do when you are strumming. I was really shy about it at first. The first time I sang in front of a crowd, I was around 12 and sang Comfortably Numb by Pink Floyd and Sweet Home Alabama by Lynard Skynard.

I was in a rock band in middle school and we started playing around San Francisco with the help of my guitar teacher.

Julie I see you live in Nashville and you are from San Francisco. Can you tell me a little bit about that transition?

Georgia I went to school in Boston for college and met all the musicians in my band there.

We really wanted to be in a vibrant musical scene where everyone was playing all the time. I absolutely love Nashville. I think something really special is happening there now.

There is a lot of pop country and industry stuff that I am less interested in. But there is also a lot of musical integrity and respect for older styles and Roots music. Sometimes it actually feels a bit like San Francisco in the way that people interact.

Julie  I absolutely loved your latest single, Chasing After You. It’s so catchy. Can you tell me what inspired you to write that song?

Georgia Ha! When someone treats you bad I think the best revenge is to just have some fun.

Julie I see you work with a couple of real talented individuals. Can you tell me about them?

Georgia I am very lucky to have an amazing band full of great people. We are actually on the road now and I am feeling very lucky and happy to be with them.

It is a blessing to have good friends and to play with great musicians. It’s pretty incredible when they are both. We all love the same music which is very important.

They are hard workers, funny, and can put up with me on these long drives!

Julie What are your next steps?

Georgia  Really we just want to play as much as possible! We are currently on a Pennsatucky tour. We will be back to Nashville mid-February and will be playing mostly locally this spring. We are hoping to come out west soon to San Francisco, Mendocino and all that!

At the end of the summer we will be at the Ink N Iron Festival in Nashville.

I am super excited about that one because my celebrity crush Merle Haggard will also be playing there. It is a big honor. In the meantime we are just working hard and welcoming adventure.
Find Georgia English on the road and get her latest album Good Girls here.

Pennsatucky Tour

Pennsatucky Tour

Georgia English: guitar and vocals
Christine Moad: harmonies
Hayden Cotcher: Washboard
Joe Fox: video and editing