Raaj spoke to us about the importance of following your passion. Many people do this through volunteering. They can do their regular job, and volunteer for what they are very passionate about. This increases productivity and gives people a better sense of purpose. This is why he founded Meaningful Work. Linking volunteers to organizations is what the organization is built on. Raaj personally loves doing work to help the environment.
The 3 Key Themes he shared were:
Start rough and refine with more data
Develop a hypothesis and test it
Use storytelling to your advantage
During Raaj’s presentation he explained that money models are the 'Numbers' behind your business.
The 'Numbers' consist of:
Core money model (pricing, costs, market)
Pro forma (financial projections)
They are important because they are the key to understanding your business as an owner and strategist. It is also a crucial component when pitching to investors and stakeholders.
Funding can come from many sources such as loans, grants, equity, and revenue. He also told us to include relevant financial documents such as Income Statement, Cash Flow Statement, Balance Sheets. These should be projections of your financial model.
We should also ask ourselves what is the impact we want to make. Defining our purpose, mission and vision are steps to take. Finding how we can measure impact is crucial to growth. Finally, telling it in a story form will get people engaged.