The one thing that stood out was that in this “Open house”, everyone from the presenters, audience and hosts, participated equally. Truly wonderful to see a forum where there was genuine energy and intent.
About me: For the past 6 years I have strived to keep Buttercups, my lingerie company alive. It isn’t easy being a retail entrepreneur. But, I kept up with the changing retail market especially with e-commerce coming in, molding myself and the business to address the requirements of the times, and learning as I went along. The business went from being a physical retail store to an online store, with a unique “size yourself” matrix, which no one else had done at the time. I launched India’s first bra sizing app ABTF, realizing that women needed help with knowing their actual size before they went shopping for bras and also started a blog to reach out to women who were suffering the “bad bra” syndrome.
Having done all this to survive, about 2 years ago, I decided that I wanted to launch my own lingerie label – Buttercups.
My experience as India’s only bra fitter and lingerie expert/consultant for the Indian market gave me the edge to understand what women really needed and what was missing. Most of them were certainly unhappy with the existing brands.
I put the detailed business plan together, and seeing that it was viable, I began designing the label and finding manufacturers and suppliers. After a year of hard work, having everything in place, I decided it was the time to look for seed money to get things up and running. Only to realize that unless you have a “profitable” business, especially in retail, no one will fund you.
After all that is said about funding a great idea, a great founder with keen domain knowledge, a 2nd time entrepreneur, a POC – nope, none of that finally matters. I realized that sometimes you just have to have the business up and running, or else sorry, no funding! So basically my “startup” especially since it is in the retail space, could not raise money.
Well, it was disappointing to say the least. I tried to find answers to the lack of investor “love” at the Open house. In the PPT, are a few things I thought may have been the reason for that lack of love!
Discussing it at the Open house, answering questions and sharing views, I realized yet again, that sometimes, you can do almost everything right, and still not get funding!
So, after a few unsuccessful “investor dates”, I sat back one day and thought hard. I had already made the plan, and had everything ready except the money.
I hadn’t worked so hard to give up now and that too because I couldn’t get funding?! I was an entrepreneur, I simply couldn’t give up!
I relooked at the business plan and decided that without investing in a retail space, I could continue to retail from my current website. I also reworked the financials to find out what would be the minimal amount that I would need. As it turned out, not as much as I had imagined!
All I need is for 3500 people to give me Rs. 1500 each to launch my label!
So, with encouragement from a few friends, current customers and an advisor, I decided to go raise money from the very women whose problem I was intending to solve – by launching India’s largest crowd sourcing initiative (product), on my own platform www.fundbuttercups.in
The amazing part of this initiative is that it’s completely bootstrapped! Everything you see on the site has been created with the help of generous friends, entrepreneurs and supporters!
Now, after all of this, I need “you,” Rodinhooders to help me with making this happen!
You could support me by doing any of the following:
- Pledge on www.fundbuttercups.in and become one amongst the 3500 supporters
- Spread the word – FB & Twitter
- Share the post on your social network
- Introduce me to anyone who would want to buy-in to the idea (I’m still not averse to angel investment!)
- Anything else you feel you can help with!
If we make this happen, imagine the inspiration this story will give the many others, who have been unlucky in “investor love” like me! Let’s make Buttercups a success so that you can all go on and say you helped bring a brand to life!
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UPDATE JUNE 29, 2015: ADDED BY THE EDITOR:
CONGRATS ARPITA FOR GETTING INVESTOR LOVE!
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UPDATE ADDED BY ASHA ON AUG 17, 2016:
MANY CONGRATS ARPITA ON GETTING SOME MORE INVESTOR LOVE 🙂
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