We failed

Last month we set ourselves a goal of raising £40,000 in 30 days.

We didn’t achieve it.

We finished the sprint having raised £18,000

At first, that felt disappointing. I’m someone who sets ambitious goal and expects to hit them.

But after taking a step back, I was judging the business on a result rather than progress.

Yes, we missed the goal.

But we have also had conversations with a number of potential investors who weren’t ready to invest just yet, meaning our investor network is now stronger today than it was 30 days ago.

At the same time, both of our projects have continued to move forward. Project One is nearly complete, Project Two is progressing well and we’re already negotiating Project Three.

In just six months, we’ve sourced and acquired two projects, onboarded three investors, grown our social media and built a strong pipeline of opportunities.

When I looked at it like that, I realised this is the most progress we’ve made since starting the business three and half years ago.

We double down

We find a way to win.

The £18,000 we’ve raised means Project Two can continue progressing while we work towards raising the remaining £22,000 by the end of August.

If we don’t raise the full amount, we’ll use our own funds to complete the project.

It won’t stop us delivering, but it would use the capital available to scale the business and acquire future projects as quickly as we’d like.

So, here’s what August looks like:
- Attend every Sheffield networking event to continue building relationships with potential investors.
- Continue progressing both refurbishment projects towards completion.
- Launch our August social media strategy to continue growing our online presence.
- Raise the remaining £22,000 to full fund Project Two.
- Continue Negotiating Project Three with the goal of completing three project this year.

One missed goal doesn’t define a business.

How you respond does.

Following the setbacks we spoke about in our last newsletter, I am more than pleased to say..

WE ARE BACK ON TRACK.

The property is now fully plastered, the bathrooms have been tiled and the kitchen has been delivered ready to be fitted tomorrow.

We have a site meeting tomorrow to finalise and order all of the remaining materials, skirting boards, architraves, doors, flooring and final finishing items.

This is the best stage of the refurb. After weeks of structural work and problem solving, we’re at the point where the project starts to become a home again.

Every week from here should bring us one step closer to completion.

Project Two has continued to progress over the past week and is now moving into the next phase.

The property has been fully stripped back, all structural work is now complete, and Building control has signed off the Steelwork.

We’ve also completed the first fix joinery, with new windows and doors due to be delivered Thursday.

Although taking the property back to brick wasn’t part of the original plan, it has put us in a much stronger position.

With everything exposed, its far easier to manage the project, coordinate the team and keep the refurb moving.

Im expecting the project to really start flying.

One Final Thought

At the start of this newsletter, I said we didn’t achieve our raise target.

A few days ago, that’s all I could see.

Now, I see it differently.

Building a business isnt about hitting every goal you set. It’s about learning, adapting and not giving up.

In the last six months, we’ve made more progress than we have in the previous three and a half years.

That’s something I’m incredibly proud of.

As always, thank you to everyone who continues to support Asset Collective. I’ll see you next week.

Did You Know?
Leaving your money in the bank right now is likely earning you less than inflation, meaning your cash is actually losing value over time.

Till next time,