Building Baking for Good

Over the past couple of years, I’ve gone back and forth about whether or not to raise outside funds for Baking for Good. I started the company in 2009 with $40,000 of savings, and while I know that raising money would help me grow the company a lot faster (and perhaps more easily in some ways), I’m also really happy with the pace at which we’re growing, and it’s allowing me to personally stay involved with every part of the business, from operations to customer relations to marketing.

Last week I had the pleasure of meeting with Joanne Wilson, aka Gotham Gal, to introduce her to Baking for Good. Joanne has a lot of experience growing and investing in companies, so I knew she would have a great perspective on my situation. When I told Joanne my story (and treated her to some cookies, of course), she encouraged me to keep building Baking for Good as I have been, and not take anyone’s money (except maybe as a short-term loan if business grows unexpectedly fast). I have to admit, it’s not so easy to watch many of my peers raising millions of dollars in funding and wonder what my business would look like if I did the same, but Joanne reminded me that owning my business in its entirety, and being able to grow it without being indebted to anyone else, is something not just to be proud of, but to really embrace.

I’ll be speaking more about this subject on Friday night at a TEDxEast event here in New York. I’ll write more about it after that, but I also would love to hear your thoughts in the meantime!

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2 Responses to Building Baking for Good

  1. Danielle Sanders says:

    I think I agree that it’s better to grow maybe more slowly, and not in debt to anyone. Not to mention, anything that is done for good (charity, nonprofit, etc.) seems to grow maybe more slowly than a regular business for some reason. And it’s only been 2 years, which may seem like forever, but it’s not too long! I don’t know your whole story, but it seems like you’re doing well so far!

  2. Emily Dubner says:

    That’s a great point, Danielle. By giving a portion to charity, we can’t reinvest as much back into the business for growth as we otherwise could. Giving a donation with each purchase is worth it on so many levels, but it does mean that growth can be slower. And yes, I’m really happy with where things are even after just two years! Gearing up for a busy holiday season. :)

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