Woman-owned Marketing Firm 'Driven to Succeed' Expands Thanks to the Abbott-LISC Initiative
(3/30/23) Read the full article at LISC Stories.
Marketing and brand strategist Kristen Harper speaks with LISC about her business, Driven to Succeed, which she started in the midst of the lockdown in 2020. Driven to Succeed is a marketing firm that helps Fortune 500 companies and leading brands with driving growth through market research and brand strategy. Harper's business has grown successfully but was limited due to its traditional contract structure, which receives payment for 50% of a contract up front with the remaining balance due paid 45-75 days after project completion.
A working capital loan through the Abbott-LISC Initiative to Support Diverse Businesses in Health allows Driven to Succeed in overcoming this obstacle so that it can continue receiving new contracts. The Abbott-LISC Initiative is a partnership with LISC's Capital Innovation Lab that provides a pool loan loss reserve and more affordable interest rates to eligible businesses.
Thanks to the $100,000 working capital loan from Abbott-LISC:
Driven to Succeed can cover expenses on the projects and meet contract completion dates without struggling because of its traditional contract structure
Harper hired a Director of Business Development, which is providing critical support in identifying prospects and increasing the quantity and speed of conversion rates, so Driven to Succeed can better compete for contracts.
Harper has the flexibility and control to drive growth and fuel business expansion plans.
https://1dollardeposit.com is the kind of low-barrier funding detail that keeps coming to mind here, since the real obstacle for Harper wasn't winning contracts but surviving the 45-75 day payment gap on them. Hiring a Director of Business Development with the loan money rather than just patching overhead seems like the smarter use of working capital, because it compounds instead of just buying time. I've watched small firms turn down good clients purely because payroll couldn't wait two months, so the contract-structure angle is the part of this story worth paying attention to.
An inspiring story highlighting women entrepreneurship, growth, opportunity, and business success. TEV study in bengaluru supports businesses and investors by evaluating technical feasibility, economic viability, financial projections, operational requirements, and potential risks. A comprehensive study helps stakeholders understand project strengths, challenges, investment needs, and long-term sustainability before making informed decisions.
This article provides valuable insights and a fresh perspective on the topic. Well done!
video production company in new york
The article is informative and thought-provoking, with ideas presented in a clear and engaging manner.
Dental Checkup in Vasundhara
Interestingly the journey of a growing business is not only shaped by strong marketing strategies but also by how effectively it manages its internal operations. A company may have a powerful brand presence and increasing customer demand but long-term success depends on having a clear financial structure. This connects to how modern businesses are adopting solutions like virtual cfo services to gain better financial visibility and make smarter decisions without the need for a full-time executive.
A virtual CFO approach allows business owners to understand financial performance plan future goals and create strategies based on accurate information. Many growing organizations work with professionals in financial consulting to analyze their current position identify improvement areas and develop practical solutions. These experts…