I found inspiration to write this blog when I had another no from an investor. We had been talking a while, and seemed to be interested in the product, but I didn’t sell him the ‘end goal’ and potential for Lucy Rose Ltd. Another lesson learnt the hard way.

But it got me thinking. I’ve completed a University Degree in Business, I’ve done courses, met lots of people and not one has helped me in my financial forecasts – arguably the most important part of the pitch deck. How does one value a company that has yet to trade? How does one forecast sales for three years’ time, when we haven’t finished building the product? What kind of growth is seen as being ambitious enough without being ridiculous?

I can understand from the investor’s point of view – they want to know if their bit of money is going to make them a load more, and if so, by when? That’s the point, I get it. But from the founder’s point of view, you might as well ask where do you think other life might be in the cosmos? Because quite frankly I don’t know. I can hazard a guess, an educated guess at that and back it up with some facts and figures, but I just don’t know. Oh, and those that can help charge. Because obviously money isn’t an issue to you at the moment!!!?

Is making £5m revenue in 5 years too much or not enough? Is making £10m in 10 years steady growth or slow growth? If I compare myself to the leader in the field, I’ve been told that they are an established brand, and I am not. So what, I’m not supposed to aim for the top because I’m currently at the bottom?!

To give you some context, I have aimed for £15m revenue in 7 years time. Some would say that’s a lot of money, but Jimmy Choo was sold to Michael Kors in 2016 for $896m. Now that’s a lot of money, and the kind of sums that a company CAN reach. If Jimmy Choo started out with an ambition to become okay in the field, I doubt they’d have realised this growth. I know my brand is yet unknown, but there’s a key word in that sentence: yet.

Those that see it get it, those that don’t never will.

Rant over, until next time,

Em x