Hello friends,
It’s been a hot minute since I dropped into your inboxes.
I took a break from producing episodes of the Chief Best Friends podcast, as well as this companion newsletter BFFs (business, friendship, and funds) since the pandemic hit.
While I seriously considered abandoning these projects for good, I realise that I couldn’t.
Favorite problems
One of the things I learned about myself during this long creative hiatus is that I now know I had found my favorite problems. It’s a technique by famed scientist Richard Phillips Feynman for seeing the world through open-ended questions. He called them his “favorite problems.”
For me, one of those problems was how to improve access to capital for Asian female founders.
It was what I came to in 2019 after interviewing for Season 1 of the podcast. And is still very true today in 2022.
In fact, I explored many ways I could be part of the solution. I toyed with the idea of joining banks or helping VCs. I thought of creating a fund or setting up a micro-investment platform.
Alternative funding
Eventually, I found my way to Choco Up, a revenue-based financing platform.
I’ve recently joined as their Head of Growth Marketing and I’m excited to be part of their mission. Why?
You keep 100% ownership. As an alternative form of financing, Choco Up funding is non-dilutive.
Supports modern, digital-first businesses. If you don’t have business assets, it’s hard to get traditional banks to extend working capital to you. Choco Up was created with e-commerce and SaaS founders in mind.
Flexible repayments. I know that revenue has its ups and downs so why should your payment terms be fixed? At Choco Up, we take a percentage of your revenue that flows with the rhythm of your business.
Most of all, I think this kind of financing is friendly to female founders and the businesses we create. This is why I’m so excited to drop back into your inbox and share this news.
Cash flow for founders
If this is exciting to you or you’d like to learn more, come and join me on 1st December.
Together with Choco Up, I’m hosting an event around cash flow together with Xero and Cheak (an activewear brand recently acquired by Love, Bonito), and Airboxr.
I’d love to see you there!
p.s. a reincarnation of the podcast is in the works as well as this newsletter. I hope you’ll stick around to join me in this transition but no hard feelings if you choose to unsubscribe.
With love,
Niki