NESTA FiNanCe...YOu WHaT?

The NESTA workshops are still blowing my mind! The last workshop was on the dreaded subject of finance. We got shown slides on finance modelling, direct costs and indirect costs, cash flow and goodness knows what else. However when all this was making me never want to set up a business, I did find this quote from Johanna Basford quite interesting and inspiring.“It’s taken me a while to get over my belief that you have to be on the breadline to be running a successful creative business. Now I realise it is about making money… we sell designs, we make money, then we can be more creative and take on more new projects!" I think most people, myself included, have accepted their fate that as an artist or designer they'll make very little money. Johanna is a big inspiration, having made it as an independent and very successful designer. Her saying that you can do it and make money, gives me hope and a belief that it needn't be a life on the breadline.

Another interesting section of the workshop was on the website Kickstarter http://www.kickstarter.com/
 This is an American website that helps small business and business ventures get funding by getting people to pledge a percentage of the needed money in return for a product or experience. This particular website is only for US residents but its a really good way of raising a little or a lot of funds whilst keeping 100% ownership. We did an exercise that involved creating a mock up of a Kickstarter profile. This really helped me to refine my business idea and come up with a catchy Bio and Mission Statement. Our tutor suggested using creative and quirky language to create a memorable  statement that completely sums up the company. This made me think of the Mary Portas' new brand 'Kinky Knickers'. She has got her branding just right with her vintage pin ups box and cheeky yet quintessentially British slogans. 'Top knickers for the finest of bottoms'. These define the totally UK made product.

This I can just about get my head around. The rest of the financial gargin  is going to take some time, as at the moment its going in one ear and straight out of the other!