It has been long time since I wrote anything on this blog. Facebook has taken the space for the small headlines. But for long write up, this is the place.
Over last one year and half, things were too hazy and tough but we persisted and waited for some divine moment of inspiration. The inspiration never came but small small steps towards survival guided our way forward. Only good thing that we did that we kept walking. We kept on moving despite having hazy vision and dark clouds.
At this moment of time, the path way forward is getting more clearer.
Bihar Development Trust as a non profit organisation will survive now.
BDT 2.0 will be different from last five years. The headlines will be changed. The focus will be sharp.It will become a professional led organisation with 100% dependence on grant and donation for its work. It will exit from the social business space over next five years and the space will be taken over by businesses in private limited company mode. Over the next five years, Its debt will reduced to zero and it will execute projects on grants only. Its main role will be to build community based institution and enable them to do business in this market economy. All this nurturing will be done by the support of grants only.The focus area of Bihar Development Trust is also getting delineated. It will work on bamboo and weaving thematic area. This will entails fields like livelihood promotion, institution building, capacity building, climate change, environment , sustainable development etc. We are planning to hand over the management of Bihar Development Trust to professionals by 2017. The idea is to transform Bihar Development Trust into a resource organisation on Bamboo and weaving over next five years. Marketing activity of Bamboo based programme and weaving based programme is in process of being shifted to private limited company form.
We have become more patient and preferring to go slow and focus on consolidation of the business processes.Lot of innovation and good HR practices have evolved after these two years of struggle of becoming focussed.
The faith has become stronger . The ability to survive has acquired a new meaning.
Lots of things are happening which will be shared in coming posts.
Showing posts with label fund raising. Show all posts
Showing posts with label fund raising. Show all posts
Sunday, July 15, 2012
Tuesday, August 26, 2008
Entrepreneurship fund raising travails
Dear Friends,
Greetings!!!
I would like to know about fund raising methods employed by member organisation when they were start up.
Bihar Development Trust is an emerging MFI in Bihar. It has been promoted by young IRMA graduates of 2006 batch. We are spread up in 50 villages, 6 blocks, two districts ( Bhagalpur & Patna). We are following grameen model.
As usual we started with our own money and friends, well wishers money. With effort, we were able to get funding from FWWB, RGVN, BASIX & Trust Microfin Network, Lucknow.
Then, the India macro economic scenario got worse and government and RBI panicking about inflation and started absorbing excess money from market. Interest rates are rising and credit squeeze are happening.
In this scenario, small fledgling organisation like us are suffering credit drought. I am moving around all banks and funding agencies.
The basic bottleneck faced by us is 3000 members and 3 year experience. On one side, sector is devoid of professionally promoted & managed microfinance organisation , on the other side, if some professionally qualified person begins its entrepreneurial journey, he is encouraged only by words but not by deeds of funding agencies or agencies like SIDBI, Indian Bank, NABARD etc.
We are one of the rare breeds of professionally qualified individuals slugging out in Bihar. We are feeling like players of roman collossium who are destined to die with all funding agencies and support organisation watching and getting their thrill of our fight. If we die, then also you will clap and cheer and if we survive, then also all funding agencies and support agencies officials will clap and cheers.
Every professional and consultant worth its salt will harp on robust system processes and control system. Even, if some one does not understand how does these processes translates during implementation, these shallow consultants go on harping their jargons about system and processes.
I am getting fed up with all gyan given by these funding agencies and so called capacity building and support organisation who just jump on any new organisation to sell their so called systems and processes.
The issue is that professionally qualified professionals from IRMA/IIM/TISS/IIFM etc are trying to slug out in eastern part of india. They are facing chicken or egg first problem. Funding agencies ask them to attain size but dont give money to grow to that size.
So, how start up like us grow if no fund is made availble to them?
I would like some members who have gone through this experience and made it big share their story. I would like members who are going through the ordeal also to share their story.
I am thankful to all my friends, well wishers and funding agencies for helping us to growing to this stage and understanding the challenges associated with entrepreneurship.
Regards
Ravi Chandra
Greetings!!!
I would like to know about fund raising methods employed by member organisation when they were start up.
Bihar Development Trust is an emerging MFI in Bihar. It has been promoted by young IRMA graduates of 2006 batch. We are spread up in 50 villages, 6 blocks, two districts ( Bhagalpur & Patna). We are following grameen model.
As usual we started with our own money and friends, well wishers money. With effort, we were able to get funding from FWWB, RGVN, BASIX & Trust Microfin Network, Lucknow.
Then, the India macro economic scenario got worse and government and RBI panicking about inflation and started absorbing excess money from market. Interest rates are rising and credit squeeze are happening.
In this scenario, small fledgling organisation like us are suffering credit drought. I am moving around all banks and funding agencies.
The basic bottleneck faced by us is 3000 members and 3 year experience. On one side, sector is devoid of professionally promoted & managed microfinance organisation , on the other side, if some professionally qualified person begins its entrepreneurial journey, he is encouraged only by words but not by deeds of funding agencies or agencies like SIDBI, Indian Bank, NABARD etc.
We are one of the rare breeds of professionally qualified individuals slugging out in Bihar. We are feeling like players of roman collossium who are destined to die with all funding agencies and support organisation watching and getting their thrill of our fight. If we die, then also you will clap and cheer and if we survive, then also all funding agencies and support agencies officials will clap and cheers.
Every professional and consultant worth its salt will harp on robust system processes and control system. Even, if some one does not understand how does these processes translates during implementation, these shallow consultants go on harping their jargons about system and processes.
I am getting fed up with all gyan given by these funding agencies and so called capacity building and support organisation who just jump on any new organisation to sell their so called systems and processes.
The issue is that professionally qualified professionals from IRMA/IIM/TISS/IIFM etc are trying to slug out in eastern part of india. They are facing chicken or egg first problem. Funding agencies ask them to attain size but dont give money to grow to that size.
So, how start up like us grow if no fund is made availble to them?
I would like some members who have gone through this experience and made it big share their story. I would like members who are going through the ordeal also to share their story.
I am thankful to all my friends, well wishers and funding agencies for helping us to growing to this stage and understanding the challenges associated with entrepreneurship.
Regards
Ravi Chandra
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