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ChooseFI | Financial Independence Podcast

056 | How to Start a Business with No Money Part 1

ChooseFI | Financial Independence Podcast

Jonathan Mendonsa & Brad Barrett | Choose FI Media, Inc

Careers, Investing, Business

4.85.2K Ratings

🗓️ 1 January 2018

⏱️ 65 minutes

🧾️ Download transcript

Summary

Most people assume you need deep pockets to launch a business that actually helps people. Talis Drew proves otherwise. In this coaching session, ballroom dance instructor Talis Drew shares how she's bringing dance therapy to people with Parkinson's disease — without taking on crushing debt or waiting for grants to materialize. Coach Alan Donegan walks her through identifying who actually pays for these services (hint: it's rarely the end user), forming strategic partnerships with hospitals and support groups, and building evidence that strengthens every funding pitch. Brad and Jonathan sit in as Alan helps Talis untangle the difference between the people she serves and the organizations that will write the checks. Chapters [00:03:49] Introduction to Talis and Her Mission [00:07:28] The Importance of Social Benefits [00:08:08] Discussion on Funding Strategies [01:01:33] Exploring Customer Identification [01:02:11] Conclusion and Next Steps Key Insights Understanding the Target Audience: Identifying who will pay for services is crucial for success. Talis's funding comes from local chapters and medical institutions, highlighting the importance of community engagement. Benefits of Dance Therapy: The episode outlines three primary benefits of dance therapy for individuals with Parkinson's disease: exercise, musical engagement, and social interaction. Securing Funding: Exploring different funding sources, including partnerships with local businesses and health organizations. Collecting Evidence: Documenting the effectiveness of programs through feedback and surveys can strengthen pitches to sponsors and funders. Building a Community: Forming connections in the community can lead to potential funding and sponsorship opportunities, as well as increased visibility for the workshops. Action Items [00:20:16] Create a list of potential sponsors and funders for the dance classes [00:22:41] Collect data on participant outcomes to demonstrate program effectiveness [00:49:15] Develop branding and a website for the Parkinson's Dance Project Notable Quotes [01:01:33] "The progress you make in your business is directly related to the clarity of which you can describe exactly who your customer is." [00:48:50] "Explore win-win partnerships in your business." [00:07:28] "Social interaction is key for wellbeing." Resources American Parkinson's Disease Association: https://www.apdaparkinson.org/ Dance Therapy Research Articles: https://www.dance-therapy.net/ ▶ Listen Next: Ep. 057 — How to Value Your Pension: Should You Stay for the Benefits? | Essential Listening

Transcript

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0:00.0

Hey guys, welcome to the Choose Dev I Radio podcast January 1st, 2018 first podcast episode

0:05.8

of the year and I am so excited to be giving you this particular episode today.

0:11.0

Let me go ahead and even take one step back and say that back in episode 30 we brought

0:14.6

Alan Donigan on to show us what was missing in the conversation and in our mind it was

0:18.9

that we weren't doing a good enough job talking about the value of starting a business

0:22.8

or a side hustle.

0:24.1

That episode was mind-blowing.

0:25.1

It's so good.

0:26.1

You need to go listen to it first.

0:27.5

Do not listen to this episode if you have not yet listened to episode 30 of the podcast.

0:31.7

Stop this.

0:32.7

Right now go listen to episode 30.

0:34.7

And then if you go listen to the Friday roundup which was 30 are Alan basically hosted

0:40.6

a contest and he said I offer this coaching but I do it as a group with different communities

0:44.9

all around the world.

0:46.3

For your community I would love to offer a single person one-on-one coaching.

0:51.1

We can record it and then play it for the audience that way everybody can get access to

0:55.4

this information.

0:56.4

It can help as many people as possible.

0:59.1

So obviously we went all in on that.

1:01.3

We had so many people from our community come in and pitch their different ideas and what

1:06.6

was really cool is we had our Facebook group vote on which one they wanted to see actually

...

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