Social Entrepreneurship: Strategies for Raising Funds

Estimated read time: 1:20

Summary

This video by YEDI delves into strategies for raising funds for social enterprises. It emphasizes the complexities of combining for-profit and non-profit models, and the strategic use of grants. The discussion covers different sources of funding such as donations, sponsorships, and government grants, highlighting the importance of personalization in approaching donors. Various fundraising strategies are outlined with real-world examples, including creative methods and the role of crowdfunding.

Highlights

Engage donors by understanding their motivations and tailoring your funding request to appeal to their interests. ✨
Government grants require thorough preparation and strategic application, often needing partnership with established charities. 📋
Utilizing crowdfunding can serve both as a funding mechanism and a market testing tool. 📈
Diversifying sources of income is crucial for financial stability of a non-profit. 💼
Engaging in creative fundraising strategies can include methods such as pairing with corporate sponsors or developing unique products. 🔍

Key Takeaways

Personalize your approach to donors; get to know them personally and understand their motivations for giving. 🤝
Non-profits can greatly benefit from diverse revenue streams, including government grants, which may have fewer strings attached for newer organizations. 💡
Government grants often require cooperation with an established charity, especially for organizations less than two years old. 🎓
Crowdfunding is a viable option to test market demand and engage the public, but requires a compelling story and strategic promotion. 🚀
Partnerships with other organizations can be an efficient way to amplify resources and reach larger goals. 🌐

Overview

In this engaging and informative session by YEDI, the intricacies of raising funds for social enterprises are explored in depth. The video focuses on the duality of operating under both for-profit and non-profit umbrellas to maximize reach and impact. It provides a comprehensive overview of various funding channels including donations, sponsorships, government grants, and the ever-popular crowdfunding.

The speaker dives into the importance of creating personalized, well-researched pitches for donors and highlights how understanding donor psychology can significantly boost fundraising efforts. There is also a detailed examination of government grants, emphasizing partnership with more established entities to secure these funds, especially for newly-formed organizations.

Additionally, the video looks at creative fundraising strategies such as leveraging corporate sponsorships and the potential of crowdfunding platforms. By sharing real-life anecdotes and strategic insights, the session acts as a guide for non-profits seeking sustainable financial growth and expanded influence in their endeavors.

Chapters

00:00 - 01:30: Introduction and Previous Discussion Recap The chapter begins with a brief introduction, ensuring everyone in the virtual meeting can hear clearly. It expresses gratitude for the feedback received on the previous discussion or video content. The stage is likely set for a continuation or expansion on topics discussed earlier, although specific details of the previous discussion are not included in the recap.
01:30 - 09:00: Difference Between For-Profit and Non-Profit Organizations This chapter explores the distinctions between for-profit and non-profit organizations, emphasizing the unique characteristics and purposes of each. It discusses the importance of understanding these differences, and touches on the challenges faced in combining elements of both organizational types. Feedback from audience members is acknowledged, highlighting areas for improvement and future focus.
09:00 - 18:00: Revenue Sources for Non-Profits This chapter discusses revenue generation strategies for non-profit organizations. The speaker mentions an upcoming seminar that aims to explore various ventures related to the topic. The primary idea is that non-profits are created to aid individuals who cannot afford to pay for certain products and services, allowing them access. Additionally, non-profits can support for-profit businesses by expanding their business opportunities.
18:00 - 24:00: Government Regulations and Bureaucratic Challenges The chapter discusses the intersection and challenges between non-profit and for-profit organizations, particularly in relation to government regulations and bureaucratic challenges. It highlights how non-profits may rely on the same resources as for-profits, such as grants and donations, and the complexities that arise from these dependencies. The chapter invites questions on these issues, indicating a focus on clarifying the regulations and overcoming bureaucratic obstacles.
24:00 - 30:00: Mandatory Documentation and Compliance The seminar focuses on strategies for raising funds, a topic that is generally well-received.
30:00 - 39:00: Diverse Revenue Streams and Donations The chapter titled 'Diverse Revenue Streams and Donations' provides information on finding detailed records of charitable organizations through the CRA website. It explains that users can access a charity's profile, which includes information about revenues, expenses, directors, and the countries in which the charity operates. This resource serves as a tool for gaining insights into various aspects of charitable organizations.
39:00 - 48:00: Funding Strategies and Partnerships The transcript for the chapter titled 'Funding Strategies and Partnerships' is incomplete and focuses on a request to revisit tax and legal topics in a future session. The speaker mentions showing revenue figures, which they can't recall from which year, and intends to discuss expenses alongside other related topics next time, requesting reminders if they forget. Therefore, the chapter mainly sets the stage for future discussions about financial details and legal matters, rather than delving into specific funding strategies or partnerships.
48:00 - 57:00: Donor Engagement and Motivation The chapter titled 'Donor Engagement and Motivation' seems to briefly touch on the transparency of bylaws in charities. It mentions that these bylaws are not posted publicly but are registered with a registration authority. This registration is important in case of legal disputes, indicating a focus on the organizational aspect of transparency in charitable activities.
57:00 - 66:00: Sponsorship and Promotion Tactics The chapter titled 'Sponsorship and Promotion Tactics' discusses strategies that pertain to maintaining confidentiality and document storage. In the current digital age, physical documents are rarely used; instead, documents are stored in designated online folders. The importance of keeping these documents easily accessible yet secure is emphasized. The chapter includes an anecdote about a humorous situation involving student files with the Ministry of High Education, although the details of the story are not provided.
66:00 - 75:00: Legal and Regulatory Considerations for Non-Profits The chapter discusses the bureaucratic hurdles faced when obtaining a program license for a non-profit. It highlights a two-year journey involving meticulous record-keeping and regulatory compliance. An official inspection was mentioned, including the requirement to securely store student files.
75:00 - 84:00: Grants and Funding Opportunities The chapter discusses the challenges faced in complying with regulations when information is kept in a digital format without physical documentation. It introduces a scenario where the protagonist negotiates with a regulatory official who insists on adherence to regulations. A compromise is reached by agreeing to download all necessary data onto a USB drive and securing it in a safe, which satisfies the official's requirements. This incident underscores the practicalities and measures taken to ensure regulatory compliance in the context of grants and funding opportunities.
84:00 - 93:00: Partnerships with Established Organizations for Grants This chapter discusses the necessity of having consistent documentation when partnering with established organizations for grants. It highlights the challenges posed by bureaucratic requirements, and the transition towards a digital platform that ensures all documents are safely stored and managed electronically, moving away from traditional paper documents.
93:00 - 102:00: Specific Grants and Application Processes The chapter discusses an example revenue model related to grants and applications. The speaker emphasizes the importance of diverse revenue streams and mentions donations as a part of it. There is also a conversation about using USBs for data transfer instead of relying on laptops or computers.
102:00 - 111:00: Building Networks and Getting Support for Grants The chapter discusses the sources of financial support for grants, highlighting the importance of building networks. Financial contributions may come from potential investors, graduates of programs, and gifts from registered charities. The reasons for donations include tax reductions and mutual benefit among charities.
111:00 - 120:00: Crowdfunding Overview and Types This chapter provides an overview of crowdfunding, detailing the different types available. It may cover the benefits and challenges associated with crowdfunding, as well as how it helps businesses grow without the constraints of traditional corporate taxes. The transcript provided seems to involve a discussion about tax implications and business growth in the context of crowdfunding.
120:00 - 129:00: Product Crowdfunding and Challenges The chapter discusses the concept of a foundation associated with Yeti, which serves as a mechanism for directing donations. This setup allows donors who prefer to make general contributions to support Yeti through a foundation body that manages the grants. The conversation touches on clarifying misunderstandings regarding different types of charitable organizations, suggesting a distinction between various forms of charity.
129:00 - 138:00: Equity and Real Estate Crowdfunding The chapter discusses the dynamics and motivations behind equity and real estate crowdfunding, particularly focusing on how individuals, families, or corporations use such platforms as tools for strategic and financial management, such as tax reduction by charitable acts towards year-end. It explores the hesitance to hastily select charitable causes without proper insight or alignment with personal or corporate values.
138:00 - 147:00: Successful Crowdfunding Case Study The chapter explores a successful case study of crowdfunding, highlighting how individuals or entities often utilize charitable foundations when they have received donations or gifts. These individuals register these foundations to manage funds appropriately and distribute money to various causes effectively. The focus is on the strategic use of a foundation to manage charitable donations, showcasing a thoughtful and planned approach to philanthropy through crowdfunding platforms.
147:00 - 156:00: Conclusion and Q&A Session The chapter titled 'Conclusion and Q&A Session' covers the distinction between two types of charities. The first type actively engages in charitable activities and executes various programs. The second type focuses on gathering funds and then distributing the money to other charitable organizations, without direct involvement in charitable activities. This session also indicates that this topic will be further elaborated in a different session.

Social Entrepreneurship: Strategies for Raising Funds Transcription

00:00 - 00:30 joh videos and everything can you guys hear me well yes okay okay great great uh let's start so last time um first of all guys thank you for your comments finally your
00:30 - 01:00 not one or two but a bunch not not still not everyone but thank you for that thank you to those who actually did it's important we need to see the feedback right what do you specifically like to focus on that on that next time or they want to improve now somebody wrote that uh the path uh to succeed on the combination of for profit not profit was not C enough
01:00 - 01:30 um I guess uh first of all we will have a seminar at some point I don't remember like a week or so uh and then we will discuss as many Ventures from the classroom as possible I think it will be more clear but generally speaking you create nonprofit to help people who cannot afford paying for your products and services get access to it and from other perspective it gives additional business to your for profer business I think it's
01:30 - 02:00 clear enough no uh and sometimes you may think of really different non for profit that relies in the same resources as your for profit so you get this uh space equipment whatever uh from grass from donations from whatever okay so if you guys have any questions about all this stuff ask now but uh again they have the the
02:00 - 02:30 seminar will discuss specific um specific cases I think it should be clear anyways so today I think you'll like the topic because today is the strategies for raising funds Everyone likes to raise funds right so uh this is the picture that first of all every charitable organization
02:30 - 03:00 uh has a profile like a page on the CRA website so if you want to know anything about Char organization go to s website find list of charges and then uh find the specific charity res search and then you may know many the revenues how the rat the expenses who directors are uh which countries the charity parat many many
03:00 - 03:30 many many many other information please remind me to come back to it when we'll have the uh the session related to tax and legal things because now I want to show you revenue for ye I don't remember last year year before but next time we will discuss expenses and many other things related to that so remind me I will try to remember but remind me if I forget next time uh
03:30 - 04:00 yes not super related to today's topic but sort of related to where you find this information are bylaws posted for each of the Charities like do they have to be posted or is that private no it's it's not posted it's not private so when you when you have your your bylaws you register with the registration Authority and it's somewhere there uh for the situation when God forbid go go goes to court or whatever some dispute but it's
04:00 - 04:30 not publicly available just keep it in your you know it's printed then it's in your office or online like nowadays no nobody gives uh you know printed documents you just have a special folder somewhere just don't uh don't miss it thank you do you remember the funny story about the uh files of our students with the ministry of high education have I told you this story no
04:30 - 05:00 it's just great taste of the bureaucracy so when we were getting the license for for this program uh at the very end it was a two-year Journey like for all our records and everything so the lady said she'll come and check our facilities was said sure go ahead and she also said I have I I need to see a save there where you keep the files of the students so it's not uh you know accessible should be locked in the
05:00 - 05:30 C I said we don't have printed uh documents it's just all in our system and she said I don't care what you have I have the regulations you you have to follow I said okay what if I download all all the information to USB and put the USB into safe will it work said yes and she actually came here seriously I'm not kidding she came here to check the USB is in my sa and then it
05:30 - 06:00 was good just one little taste of the government bureaucracy and so on anyways so that is mandatory is it h that is mandatory to have yeah documents the same documents have to be the same but nobody has documents anymore like we have the platform we have the system you know it's all all our computer it should be safe
06:00 - 06:30 somebody suggested to put laptop in the computer I said no no we will we'll be fair we'll downlo the cases USB put the USB into the same4 anyways so uh this is an example of ye's Revenue I wanted to show you how diverse the Reven is right you see um you see the donations right this is what we're
06:30 - 07:00 getting from Mostly from um as I said potential investors and from uh for graduates of our programs uh then gifts from other um other registered Charities guess why other registered Charities give us money what do thing to reduce the tax Chari other the charities see this
07:00 - 07:30 line from other Char yeah but um when they give they chance CL it as expense to bring the taxes then who chares chares don't pay corporate taxes no I don't help them to grow their business H you help them to grow their business no no no uh Stephanie I know that you know that that's why I ask Kar first
07:30 - 08:00 well you mentioned there's a foundation that Yeti has a foundation so I was thinking maybe it's a way of funneling the donations of donors who don't they want to give more generally so you have a foundation body that allows the granting to Yeti right right I guess stanie want to say the same right um yeah it's actually not charity chars there are two different types of Chari they're
08:00 - 08:30 ations and working horses like actual Charities right so many uh rich people and families and or corporations because um you know sometimes they need to to urgently delay something to reduce taxes like specifically now because there year end or something or any whatever reason right and they don't want and for example they don't see proper cause right away right they don't want to donate it to who know
08:30 - 09:00 what so they want to you know win the time for them to think how to use it and and therefore they register foundations so it's a charit organization but specific type foundation so they donate to their own foundation and then slowly but surely they find where where to give the money so in our case gift from other reg Charities means it comes from from from it's actually Don like investor for somebody but they do it through their
09:00 - 09:30 Foundation okay sorry what's the difference between found charity no so there are two types of Charities again we'll have it in a different session two types of Charities one is actually work in charity like we do things we do programs right we execute but some uh they they just funds so they collect the money and give the money to other chares that's it they
09:30 - 10:00 don't do anything they just do fundraising and then give them money so for example uh like I know hospitals they have Foundation they're like hospitals they have foundation so right and and then they use the money to to the foundation don't do anything they just collect the money and then give the money to somebody who actually does things okay universi foundations of course right yes awesome oh why do they do that
10:00 - 10:30 and it's uh like money on C foration no I just said it's a uh the corporations they do it because they want to have a special place where they donate the money so reduce the taxes whenever they need it but they still have access to the might so it's already in a charitable world but it's not distributed actually it's not distributed yet yeah it works for them because like really nobody wants to and and and you guys remember it nobody wants to waste
10:30 - 11:00 the their their money their resources right yes it may be for tax purposes but still people want to do something good so how long can you keep the money Foundation is there a rule like in a year's time that should be used or yeah there's a special rule again it's a it's separate lecture you have to use at least 10% of the previous year yeah and again I told you please read the book so go bring it again
11:00 - 11:30 so this book is a showed you last time please please please by the moment we'll have this um round table with the L and um accountant sorry can I Pi a picture up I tried to go to libraria at school
11:30 - 12:00 thank you it's uh on theas anyway yeah so all these details are are there and and again we will have we'll have separate discussion all this Erin what are receded and non- receeded donations oh very good question okay guys don't type because I hard to read from here the name of of the book is running a
12:00 - 12:30 Char R A Char written by one of our mentors Adam up it is uh on on your canas okay okay so receed non receded donation for example you were doing fundraising
12:30 - 13:00 uh and it's a fundraising dinner and the cost uh the ticket you you sell the ticket for $100 and the cost of food is $40 for how much money will you give tax receip 60 exactly because $40 is is not donation right because you cance the for right you actually donated 60 okay so
13:00 - 13:30 when you somehow benefit from from your contribution it cannot be receipted donation and then it's non receed donation it may be part of of your donation or it may be the entire donation if you have any practical interest so you get the just just it for example sometimes we have uh nice phone calls from immigration companies like hey we want to donate you some money
13:30 - 14:00 blah blah blah because their clients uh go through our uh international program and they want us to give them uh letter of support like to give them letter letter of support and to give it faster which will never happen we are very serious about everything it's like we select the best and uh the best go uh and we don't sell but if people want to donate us no problem they're not saying
14:00 - 14:30 like we're donating you because of that they're saying we just want to donate thank you but we give them non Reed donations because they have the interest even if they're not gain gaining anything however for for corporations they are corporations right for corporations there are no difference it's expense this way or another but for individuals there's big difference because resid the Nations you can substract from your taxes right now sit
14:30 - 15:00 here you can okay make sense Stephanie you want to ask something yeah in the example of the dinner party what if you get the food donated so now you didn't actually spend the $40 on food but that would be the value of what the person is receiving so would they get the receipt for $60 donation or would they get it for 100% no no they consumed something goods
15:00 - 15:30 for $40 right but let's say we had a catering company donate all the food so we didn't actually pay anything that's good we don't have expenses but the person the actual person consume the $40 right okay and of course we will give uh ta receed to to the catering company who donated us they will take think about about the government
15:30 - 16:00 people take it from the taxes right you can't if if we give them $100 because those people donated them these people will uh claim the $40 and these people will claim the $40 right it's not fair okay um and also see this all other remue which is in most cases
16:00 - 16:30 tuition tuition from uh International students PR receive and some other like for example we're doing events and people uh people pay for to to participate all this stuff this is our revenue from sales so diversify you don't need your revenue from sales because you have your for-profit vure right
16:30 - 17:00 sales go there unless it's a subsidized sales right so for example if it's $100 whatever product or service and it's subsidized so people pay that say $20 instead of 100 then of course they may pay to your uh nonprofit uh and then non for profit which collects other revenue from other sources already paid the 100 to you for for profit
17:00 - 17:30 company sense good okay so what I wanted to show there are different sources and it should be diverse and you can see here uh Government funding 3% created as I said we don't want the strings attached specifically uh that this government wants always to give and that's why we're not asking for uh
17:30 - 18:00 grants from the government but of course for young organizations for uh just establishing organizations it's a very good idea to apply for grants for money for other resources whatever it's good idea but for us it's already we are little bit bigger than that basically like see it's more more than $2 million a year which is good enough for us to cover our
18:00 - 18:30 expenses okay good yeah so again remind me about the expenses and how how we deal with expenses on the session of legal issues because today is different topic but this part okay now as we as we said there are different sources of funding which are sales of course and again in your case goes to your for-profit arm
18:30 - 19:00 um then donors then sponsers then GRS and then Crow finding finding is a separate thing okay so we discussed this on my previous lecture but let's discuss it deer one after one in terms of sales we don't
19:00 - 19:30 have to cover it right now so let's start from donors okay so when you're dealing with donors when you're dealing with with donors you have to understand that it should be very personal you should know these people that you're talking about so as I said it's a good idea to have the gen General profile of your ideal donor like who
19:30 - 20:00 they are like for example for ye we have investors right so we know what to say but generally speaking your message should be I will help you to fulfill your mission in this world right to make the better place be very specific ask questions I believe I told you the story of the guy who came came to me and
20:00 - 20:30 wanted to collaborate with the plaza right on on fors for business modeling did I tell the story of a guy who wanted me to work with them no I here saying yes and I think yes yeah who came to me and he started to tell me his um hunting stories
20:30 - 21:00 tell okay so she's she's saying yes anyway so no you donor uh ask questions understand these people and see what exactly they want to buy from you do not sell soup to Hors right sell them the product they specifically want to buy and there are different products they may be interested to BU um first of all as I said good guy
21:00 - 21:30 feeding tell people get this feeling that they actually doing something good trust me everyone wants it even if they don't know they want it maybe sympathy maybe they like your ghost in general maybe they they like you who knows what
21:30 - 22:00 maybe ping others I told you right our Mentor list on our Mentor list we have the few richest people of Canada we don't use their time too much but others they want to be at the same list them and those others they actually do but when you Google the name of that
22:00 - 22:30 person you find them in the same list with the serious people like wow if these people do it I wanton be there or if many people do it or if many people from the same I don't know Community do it somehow so following others it's very good motive as well next excessive stock of goods think
22:30 - 23:00 about it um because donation may not necessarily be in monetary form might get donations Goods like any any type of goods pretty often at the end of the year some people contact us and even even people from our own own office and ask us for the list of what we want what
23:00 - 23:30 we need even toilet paper don't know something something snacks whatever to donate it because um for example somebody has uh excessive stock of goods they may donate somebody may buy from them for reduced price and still donate but the they act and they may save on it we will discuss it later but anyways so think who may have what we
23:30 - 24:00 need and then they don't need it they delate it and they take it from tax nice okay then of course uh recognition all this blocks everywhere and again being on the list with the
24:00 - 24:30 recognizable people as well then of course tax raes so December is very good month for fundraising because people calculate their taxes um and they understand that okay I need to donate like5 more thousand this year you know what I do normally I give
24:30 - 25:00 money to to Y to other Charities as alone in November December and then January February when I actually calculate how much I need for my taxes uh I other transfer to the nation keep it as low
25:00 - 25:30 by the way this year the government said that everything that donated before the end of February may be counted towards the previous year which makes sense okay any questions and then wonderful model of G was Psy model so you knows right yeah so of
25:30 - 26:00 course many many people approach him asking to look at their business plan it happens to me all the time and uh you know it's hard to say old all the time but to actually look at many business plans it's really really a waste of time and it's it's impossible so gaki he came up with idea he's saying
26:00 - 26:30 you know what please donate $10,000 $5,000 or whatever to the Char of my choice and then I'll look at your business plan and then sorry and then he's saying I will look at your business plan the people come to ask for advice too many people come to ask for advice so instead of saying no he says yes but please donate $5,000 $10,000 th000 whatever the Char my choice nothing to
26:30 - 27:00 do with him like cook team or whatever so it's a good idea so if you know high-profile people around you you may suggest them the like and ask them to to your nonprofit organization make sense and of course of course of
27:00 - 27:30 course uh make sure that the donors can feel as a part of what you do because first of all you want to give them this good guy feeling right and part of it is letting them feel that they are part of your what you do right so it's not just they give you money and you say thank you give them tax rece and that's it they should know about what you do what you achieve and
27:30 - 28:00 everything and if you can make them um to be involved in your creation it's even better at least something at least at least once a year to come to your fundraising conference to as keynot Speaker or something like that people can feel the the their involvement right so the first very basic level donate and
28:00 - 28:30 forget right the better level is donate pull up to say we use your money and that's the result but the best way to do it donate and then make sure that the person is involved what you yes it's from the previous slide like till the time we achieve the charitable status as a nonprofit what are the options of getting the donation okay so uh for
28:30 - 29:00 nonprofits for example for corporations there's no difference between charitable organization non for-profit non for-profit even preferable because for some organizations like big organizations like B Banks big corporations they have special budgets right they have the budget for the nation like this and the budget for sponsorship or maybe it's General budget for marketing which much bigger so it's easier to get
29:00 - 29:30 something from from a bigger chunk of money than from a smaller so if you're dealing with corporations it's easier to be off profit surprisingly but if you're dealing with people people also can donate money to nonprofit not not the problem but they cannot take take it from taxes okay so if most of your dollors are physical people get the charitable
29:30 - 30:00 standards if most of your dollar corporations don't bother with that not for profit much easier much easier to maintain and the corporations preferred okay anybody else yes Stephanie so if you get charitable status can can you still get sponsorship from a corporation if you're
30:00 - 30:30 doing an event or would that be considered a donation okay so first of all if you promote the corporation then it's it's more like sponsorship right if you promote their brand if they just give you money then it's more like donation but for them as I said it's a expense legitimate expense this way or another way it's just for for promotion and marketing and everything normally they
30:30 - 31:00 have budgets the budget for promotion is much much bigger 10 times big big for small organization it's all all messed up there's no special special right they may decid it okay thank you yes what's the difference between charity and nonprofit two different oh yes yeah so to get to become a charity you
31:00 - 31:30 have to register nonprofit then you apply for charitable status and we'll discuss it on the on the next session all the legal issues right then you apply for charitable status then you get the Char status and only then you are a Char okay and it's much more complicated complicated I I just have followup question related to her question no um so the two different things do
31:30 - 32:00 nonprofits have that same page on the CRA that you before no no no no it's much much easier to register nonprofit you can do it even by yourself much easier to maintain nonprofit uh it's easier to deal with corporations as nonprofit as I said but in some cases it's it's better to be Char organization again we'll have special session on that like for example it's not only about donation not
32:00 - 32:30 only about tax receipts for example non for-profit means not for profit right you don't generate profit meaning if it costs you $10 you sell it for $10 it's less flexibility Surplus or something like that yes there's a gray area because there are fixed cost like costs like for office whatever right but basically if it cost you $10
32:30 - 33:00 sell for $10 this is a nonprofit versus Charities May generate uh Surplus like for example our students for international program pay pay us $10,000 uh tuitional key but the cost for us is about I don't know $6,000 or something the rest is the Surplus that that use here so some things are easier with the
33:00 - 33:30 Char but to Get Charitable stus is more complicated maintaining charity is more complicated and you get audited all the time and all that stuff but you decided however you're getting charitable status only if you need it otherwise it's easier to say is Prof so is ye has a CH is a charity yeah yeah is a charity because most of
33:30 - 34:00 our donors are individuals people who need ta it uh also we need to have this right to have Surplus without all the gray area something like the S surli because we have programs which are free right and that's why we need to make money on some other programs because we cannot rely on them grants and donations we have to have to have sales
34:00 - 34:30 okay okay so we played this game yesterday um last time but I still think it's important I I'll torture somebody from online community this time last time I torture this people uh now I will quickly torture somebody from online like Omar Omar is there yes sir okay I'm a donor okay get money from me
34:30 - 35:00 for your nonprofit organization okay so wait H you're I'm the you're the donor and I need to ask you money for the my my non for-profit is that the question that's it yeah okay awesome excellent um so can you please tell me a little bit more about your business um okay let's take the same as I did last time
35:00 - 35:30 I'm a real estate developer so I I build an a great commercial real estate okay nice um and how do you how do you see um yourself expanding into uh targeting how how do you see yourself targeting um a market that like how do you see yourself targeting um the community the general Community to
35:30 - 36:00 increase awareness about your projects no I don't necessarily need it because um you know when I build I either sell it or just give it for these I select the best talents uh and make sure that the customers of one of the talents is the customer of other TS and this way it's well operated Al together but I don't need I need to promote general public okay that's amazing so um so you your
36:00 - 36:30 customers are largely commercial customers who you have uh as lease or purchases right um is there an interest in um aligning yourself with say a not for-profit to um um show that your corporate social responsibility as a developer you're uh contributing to the corporate social responsibility of your organization's Mission and
36:30 - 37:00 purpose I maybe I may be interested in some sustainability approach right so people trust because it's it's good for marketing people trust that our uh buildings are equ friendly or something but I never thought about it actually okay nice that's amazing um now if say you had the opportunity to align yourself with say a sustainable uh not for-profit which which
37:00 - 37:30 contributes to the environment which contributes to the um the the the the the uh reducing the carbon tax of the uh of of of of our country is that something that you'd be interested in contributing towards I don't know maybe okay all right uh and if you were uh what would you say would be the budget that you might have in order to contribute to dep cost if I trust in something then I
37:30 - 38:00 definitely can contribute but if I don't I can give 20 bucks I don't know you tell me uh so I'll uh so uh the idea is that um so I work as a real estate agent and as a real estate agent my uh role is to be um to to connect with the community um to um to Market obviously properties but as a not for profit side I'm thinking that wait wait for a second I'm asking
38:00 - 38:30 about your specific nonprofit like the not for profit that will work with your full profit and not for profit that will work with my for-profit because you missed the real SE right uh I was there for it I was there for it yeah okay so what is your for-profit project um what is I I I haven't come up with
38:30 - 39:00 something yet for my for profit not for-profit Organization no no no I'm asking what is your for profit project Oh Real Estate Services oh just real estate agency or what is yeah yeah like real estate agent as a service during the previous course you you was describing something something else no yeah so I changed it I change it okay real
39:00 - 39:30 EST inovative comination there what makes it specific what what makes it sorry what makes it specific where's Innovation what I didn't understand sorry sorry what makes your project Innovative different there are many many many real estate agents what is your Niche what makes you innovative what makes the differ um you're absolutely right about
39:30 - 40:00 that uh there's about 85 to 100,000 agents in onario uh each agent has their own unique skill sets um so I believe um the skill set that I bring to the table is the ability to uh deliver exceptional results for my clients um so when it comes to selling properties and selling um marketing them uh I believe I have a record of achieving the result every
40:00 - 40:30 realate agent says exactly the same right you don't have to do it now but think of some Niche something something uh but for now let let's think all together let please everyone contribute to it what kind of non for-profit can work with realate agency yes in one one model maybe he has subsidized um surfaces for people that
40:30 - 41:00 can't afford to sell their house so instead of charging I don't know 1 2% maybe he the nonprofit is now re like paying for his cost so he's selling the house for a lowincome person where they don't pay the agent the nonprofit pays the agent right they have the the house it's not necessarily Maybe uh okay
41:00 - 41:30 Alex um maybe something to do with um the explore options and new developments so they would do like the research to see how to best I guess address uh low-income housing incorporated into the building or whatever else might be maybe something with that okay so you said that you uh have commercial real estate so maybe as a real estate agent he could
41:30 - 42:00 be connecting small businesses that maybe don't have the funds right now to have like a location but you like your business can donate like six months of like a popup uh opportunity um maybe like once a year or like maybe like multiple locations if you have any available and like he would connect you with tenants that could potentially later become permanent
42:00 - 42:30 tenants okay Joseph um maybe what I would think is um have a not not for-profit or a charitable organization that lead deals with uh some specific issue in the society so that the donors uh would be either uh business owners who want to cut their taxes and donate or wealthy people who have extra money so that you have a pool of
42:30 - 43:00 contacts as donors and so um these people would be uh far more better to invest in real estate so they um I would Market to the real EST I would mark it in such a way that to you I would mark it in such a way that if you donate to me I would give you some contexts or probably put your name somewhere so that you're visible there and you you get some um conversions okay yeah interesting interesting so remember I told all of you that when you
43:00 - 43:30 think about a charitable project you think about specific sector of people right uh low income new immigrants seniors right uh and Charities if you're talking about corporations think of Charities right like for example real estate agency it's not only about selling houses real estate agency is about many things which includes finding place for end and it
43:30 - 44:00 includes find finding space for nonprofits in Charities as well right so for example if you're working with commercial real estate then you may say that Charities don't pay uh to the broker to find the space where it is and for example uh I would suggest something like that oh you have you have commercial real estate sometimes it's empty right of not in my case though sometimes it's empty instead of keeping
44:00 - 44:30 it empty why don't it why don't you uh let it for Char organizations to use it for a campaign for whatever like for example if you have one or two month um uh accessibility for for the space right the Char organization that don't they don't have a good office or good like even this lecture hall or something may do events May do fundraising may do this and that
44:30 - 45:00 right and uh instead of just wasting the resources you're getting tax receipt and then uh you just doing doing a good thing now your name is on on all this because it's you know information so right there's an example but again if you're talking with individual
45:00 - 45:30 people help them to make this world a better place help them to have a feeling yeah I would come to such a person and say that you know many things in in this Society you probably don't know but many things this Society covered not by government it's actually taken care of by North it's very serious and you may have have
45:30 - 46:00 even statistics about it like 60% of issues are uh you know taken care of by non profits it's very important so if you help us you actually even more important than government basically right because you inflence something that makes more than government government doesn't have their own money it's taxpayer it's our money right the taxpayers money so you act through government and you act through us so you are making a lot of
46:00 - 46:30 difference something like that okay so dollar any questions next sponsors so what's the difference between dollar and sponsors sponsors are there to promote their business yeah whereas donor say good feel yes so
46:30 - 47:00 again don't sell soup to donors and uh don't sell good guy feeling to sponsors they don't care sponsors want money want more business or better promotion of their brand which is not direct money but still inir right our brand is so you explain to them so impact uh and how you promote their
47:00 - 47:30 business and most importantly how we bring them additional sales additional Reven additional profits dog business with potential sponsor okay um Yeah
47:30 - 48:00 so basically all of you know because we discussed it many many times during this course that you don't just bring produ product and service on the market right you make the life of the people better by using the product and service some companies don't understand it so if you understand for them how they make the life of the people better that's how you may uh discuss it with them but also you have to explain them
48:00 - 48:30 how will they get more business thre and thr all their brand and so so no soup to doors no sponsor I'm not saying no I'm just saying it's not it's not the most important Point okay so here's a great example which happens right here in this building the wonderful wonderful um uh
48:30 - 49:00 not Char organization called million dollar Smiles you may Google them up the grad of our program here so uh the idea of this organization is the following so kids who go for B of cancer uh they're immune system is down because of the treatments so they cannot
49:00 - 49:30 go and play with other kids playground unfortunately so on top of all the terrible situation they are lonely and they cannot go to playground so the idea of this U organization that wonderful lady that graduated from our program uh was and is to build playgrounds on the backyard of the homes of those
49:30 - 50:00 kids see so how it works they get the uh the parts they get donated from the organization that makes it or they raise the fs from donors and so on so forth then they invite volunteers it's a big thing so every time see the crowd that's so many people came to to put together this playground
50:00 - 50:30 right because they voltear they don't they don't necessarily know how to do it but they want to do it that's such such an important cause right but in terms of sponsors again she was discussing it in this classroom and I told her that what can you promote uh during this operation she a playground and the playground okay you'll uh they'll already get it
50:30 - 51:00 right they'll you'll be donated or you'll purchase it but what else can you promote during the um assembly of playground what can you promote tools tools exactly because every time it's uh like 15 people right and uh uh if you give them tools like from specific brand and they use it and see how great they are they may become customers right and also it's a great charity and also it's a very good CA and then whatever
51:00 - 51:30 and it works like this see this brand so she working with them and uh they provide them tools and all these people every time when they get together to to assemble the playground they use the tools from uh from this company I don't uh and uh and that's it people like it and people buy it and people promote it and their logo every time on
51:30 - 52:00 social media uh when they promote this case and so so you're very welcome to Google this and maybe come and help them any questions yes yes so are they just giving them the tools are they giving them money as well uh I think they give them money as
52:00 - 52:30 well yes yeah yeah they give the tools of course yeah but how how to attract them that's what I told them it's a thing what else what else is involved in in the process of assembling tools right so fine go to different uh tools company and talk to them and she going to this company I believe second and that's it yes
52:30 - 53:00 sir it's not a question it's more a comment so I remember I guess that was in business planning class when you talk about the inputs the activities the outputs so in this case if you're looking at their business plan their activities involved building the thing building the playet so you think okay what How can any kind of sponsorship or donor come into the inputs and activities and outputs that are a natural process for your
53:00 - 53:30 non it's it's like it's very creative I like it a lot it's very creative thank you yeah again I believe I told you that example the the lady uh we have two Charities actually you used to speak uh which is here and another one that uh makes this empowerment sessions for girls for young ladies so both of them both of them um were saying that we
53:30 - 54:00 cannot get sponsors we can't get dollars but we never can get sponsors I said who sells anything to your beneficials which are youth or uh specifically young young ladies so the lady said who said SS anything to young women she said yeah boues made perfume perfume
54:00 - 54:30 companies and so on I said here go so you're answering your own question go to them and say I have 3,000 uh young ladies in my list who will become your customers like in few years they want us to promote your brand and they EAS it like this they said of course yeah sure good that's it dog business same thing she spoke with this guys and she said yeah well bring more and more and more volunteers that they will use your
54:30 - 55:00 instruments this way we'll promote it you wanted say sure okay any questions yeah so um going back to you like when you came to this country and you started near so how did you actually netork sponsors could you give some examples like that um so we don't necessarily work with
55:00 - 55:30 sponsors we work with Partners who may be called sponsors of course remember I told you we started with shooting School of Business and BDC and JC that's it which I thought we need this three type types of organizations right three C's right and like uh BDC remember I told you like came to them and I said if you want yourself if you want to
55:30 - 56:00 be able to fund people who come to you let us help them to become more you know Advanced for you to have this education with business plan financials blah blah blah certificate from scho business let us help you now promote us and help us financially so since BDC helped us from the beginning there was no need for sponsorship for us because now we have money either from from the donors of different kinds or from sales so for now
56:00 - 56:30 we don't have specific sponsors um we're a little bit too snobbish to put somebody else's brand like now on this level of development right because if it's like Rogers yeah something right uh Ro is good
56:30 - 57:00 Ro because basically that will mean that our vies have to be the same as their violes but we don't know how they deal with their part right when it's like sh's scho of business then this gentleman I know him well by the way who gave them money he just his name there right it doesn't matter until unless he is doing something
57:00 - 57:30 really bad but he definitely not he's old chman right but the corporation people die corporations don't right so corporations May behave this way or that way anyways it's for developed uh organizations at the beginning sponsorship perfect very good yes so then does it make sense to put a morality Clause if you have a sponsorship contract yeah okay I mean if you are at the point
57:30 - 58:00 when you can dictate then of course if you cannot dictate but in many cases in the beginning you cannot dictate but keep it in mind okay remember I told you message and I I believe sanj told you this many times message have to be consistent and when the same message it's everything it's everything including your sponsor
58:00 - 58:30 okay so this is about sponsors sell them business um yeah so again everything everything related to business have to be planned working with SPS have to be planned you have to understand what they want how you bring them business um the same you just think of the think of the product understand what they want
58:30 - 59:00 how will you approach them what what will you do to to to deliver them the product they want to get and so timeline with with everything so plan everything literally everything related to business have to be well planned uh and again again again uh make sure that you don't sponsor they they're involved in your process not only that they know what you
59:00 - 59:30 do but also if they feel that they part of it even a little bit even somehow but make sure they involved in what you do and definitely make make sure that they know what you and what your results are and be as specific as possible specific Fe specific results feedback video thank
59:30 - 60:00 you video and so on so forth remember I told you that every investor Lees between two two tyes of fire the fear to lose money and the fear to lose opportunity so dollars and sponsors they also like investors unless it's pure for tax receipt but it's not it's not good right
60:00 - 60:30 you you may get much much more if it's not just tax receipt if people believe in Goda if people want to be involved and so on so forth so if you look at from this perspective it's also between two types of fire the fear to lose money even if they go tax receip everyone um have this has this feeling that I don't want my money to be misused so many charitable organizations think
60:30 - 61:00 that if they give tax receipts they say no it's never the case uh remember I told you that when you have your board when you put together your board uh think of people who will deliver the feeling to to your stakeholders the ground givers and this and that will deliver the feeling that you know what they doing what are you doing the people Will Not Waste the resources if you do it you will use it
61:00 - 61:30 wisely of course you have to deliver the feeling that you will not steal the money uh but not only that the feeling that you will use the money wisely okay any questions uh runs
61:30 - 62:00 RS remember last time I told you what is the product that you're sing when your PL gr what was the product cover their job yeah exactly yeah this
62:00 - 62:30 feeling that if they give you money it will not affect their chair it will not affect their job and if it will affect them in a positive way not negative okay so every time you apply um you answer questions there there will be like 50 questions they ask you you answer the question that you was that you was asked but you answer the question that they want to answer they ask this but they want different answer
62:30 - 63:00 so give that answer that they want to get every time whatever you say to them have this in mind and that's the key to success I know what I'm saying because at the beginning of Y uh development we would make many grants apply for many grants F to trilli to accessibility to
63:00 - 63:30 like everything everywh because we wanted to get put together um the base of everything yeah we always we always getting one we want this is the only secret every time you answer any questions whatever you put together numbers you think about the specific product they want to buy from you that's it now uh on this slide you have
63:30 - 64:00 a link to a special tool that helps you to find grants because they are many specifically for nonprofit plenty of Grants grants in different provinces grants in different Ministries grants Federal provincial Municipal like everything many many many many okay so if you want follow this link it's a tool that will help you it will
64:00 - 64:30 ask you questions about the nature of you know profit and whatever and it will suggest you the grants that you may may use now nobody gives grants to organizations that exist less than two years too risky remember the product right you will never get the gr within two years however you can get the GR how by partnering with
64:30 - 65:00 established Char organization like you as a graduate of our program you have right to partner with us and we we normally do it so uh This Way um this way the the the government grant will will be given to us and we will we will have three parties agreement and when you do what you have to do like step by step who will give you the payments yeah uh go ahead
65:00 - 65:30 question no just Janet is asking do you recommend hiring a grant writer or can I do it myself very good question J thank you I do not recommend caring R because you have all the knowledge and all the expertise from this course to do it better than them and also you know your Venture and also so you don't have to pay for it we never never ever ever hire anybody
65:30 - 66:00 for anything we know what don't answer if you understand the big secret that I told you you will succeed without any gr okay also also with Grant Riders it's a It's Tricky thing because by law you cannot pay them for result and sometimes uh you know you hire them you pay them and then where's the result and you wasted the resources
66:00 - 66:30 that you could use for something more important right so can you read what what's there she said I spoke to someone who charges 30% of the amount that we receive un so first of all it's illegal to pay more than 25% it's completely illegal secondly it's illegal uh to get payment connected to the result so that offer that that person give to you is twice
66:30 - 67:00 illegal okay so you can hire you can hire a fundraiser and pay them you know monthly or whatever for work but it shouldn't be connected to the result clearly says in the law and and on top of that non for-profits cannot use more than 25% of their budget andal budget like for
67:00 - 67:30 example uh oh you don't have expenses here in the when you will see expenses on the fundraising you will see Zero we never spend depending on that but you cannot use more than 25% so maybe 30% if you have other revenues right it may be okay so it will come less than 25% per year but generally speaking it's it's not good and you don't need it please no for fundraising is it legal
67:30 - 68:00 to give a commission to sponsorship money they solicited commission so for so if somebody connected you with a sponsor that's what I what I say yeah give a commission to sponsorship money they solicited like they got sponsor sponsorship money it's fundraising anyways yes you can give commission but not more than 25% uh again we at will never ever ever spend
68:00 - 68:30 the pen or anything like that sorry I'm sorry just second so just to clarify in case of partnership uh who applies for Grant uh the big uh company with a good reputation and uh they appoint the purpose of getting the grounds is uh helping the small company or the small okay okay good question by the way I forgot to mention it so there are two
68:30 - 69:00 options it's either big charity applies and then gives the money to your for-profit organization directly because you you you want to fund raise to give to your for-profit right so if uh the big charity applies then no need in your not profit right just your for profit and the charity this is possible but it's not not the best scenario because if you apply together so big charity and your non for-profit apply
69:00 - 69:30 together and then big charity gives money to non for profit that controls it and then non for profit does what it should do meaning hiring you your for profit properly to do what what should be done then in two years your non for profit will be able to apply without any support there in the first case you will always need to look for some big Char to apply with people say so the first
69:30 - 70:00 option is possible second option is possible but it's better for you uh to apply together in Partnership so you know for profit will get you know the truck record make sense sure question questions okay so um so regarding the grant writing it's a lot of application so un
70:00 - 70:30 coning and we really that don't have enough time to actually do everything in our business so if you want to get someone to do the job for us to do the grant writing um shall we like hire a grant WR it as a contractor or something I believe it just was asked but no but I'm just okay I understand you said no do it yourself but is not
70:30 - 71:00 like it's not possible to do everything it's absolutely possible specific now when you have chpd what's the problem you put put this question you let's say you have 25 questions right put this question to chpt and say uh first describe to CH GPT your Venture like with all the so it understand understands what is it about and this and that and then say this is
71:00 - 71:30 the question please answer the way that the person who reads it will feel safe giving us money right so answer this questions but deliver this result and the ch right you then correct little bit Tak minutes copy paste that's it that's what that's yeah no with it's so easy
71:30 - 72:00 nowadays in terms of academic research chpd is it's whole different story because previously you know to find other publications related related to this topic read it five specific places six months and years nowadays when when I do research just go chpt like find uh find all the academic
72:00 - 72:30 publications related to this topic list of 30 50 great now five specific paragraphs related to to this specific question that I have here you go and then you read just a little bit so instead of a year you spend a week it's whole different story I used to publish like one article in a few years now I publish few articles a
72:30 - 73:00 year if you go to my link page or if you if you Google me for example academic articles the Dr Mar you can find that the last couple years I published more more than I published all all the years before it's really easier now okay yes it's a kind of silly question because uh just like schools and like when we use J GPT and that
73:00 - 73:30 language is not so do you see even the grants of governments and organizations actually looking at information coming from J may not be oh it doesn't matter it doesn't matter in this case like for example when you when you write an for us we need to see your thoughts because the the problem is that you that was not you who who wrote it right if if you corrected your English to with ch GPT uh that's one story but we don't care about it we want to see what exactly your
73:30 - 74:00 thought process right but at the end at the end result you you may use jbt to make your language nicer but when you submit your obligation for uh for Grant they need they need the answer if you build this answer with jpt so okay whatever um want uh so for us that we're smaller like um we don't have history or just
74:00 - 74:30 two years or whatever and a lot of Brands is not applicable to us as you mentioned one is partnering the other thing is shall we start with like um the grant that it let us hire people and then like a stage stage we go up rather than apply for the that they give money okay so we don't need money just
74:30 - 75:00 to eat money right we need money to get something so if you need something try to get it you don't necessarily need to hire people you may attract volunteers because you have nonprofit right you may communicate with community centers you may communicate with universities like for example if I need research slades this entire York University consist of potential research slades all right so um I don't have my PhD students but I can contact any Professor
75:00 - 75:30 there and say hey do you need do you need some additional work for your PhD students yeah because they even thinking like what to give them so they're happy uh yeah in many cases I actually use for the last uh two or three years I use Ukrainian PhD students who actually r to Europe and uh they they're doing basic labor there because it's different
75:30 - 76:00 country and um this way I help them so I I pay pay them a little bit uh but they do the intellectual activity instead of doing know BL color Labor uh but if I want somebody from New York University no problem same here um so example Ontario trom
76:00 - 76:30 Foundation uh you know how it works so all the all the money that come from gambling goes to tr all the casinos and everything owned by provin and goes to trm Foundation I like this Canadian approach it's like really makes sense uh and then Trum gives it to different chares It's
76:30 - 77:00 relatively easy to get money from Trum um okay they have different Cate categories this is last year right now it may be different they change it every minute so go to their website which is OTF and ter TR foundation and see uh what they have you have to register with them um if you have revenues less than $50,000 a year you don't need to show anything if you have revenues between 50
77:00 - 77:30 250 you need to show them uh notice document from your accountant um financial statements from your accountant uh and if you have revenue between more than 250,000 now you need to show them audited stat okay that's why to register with them you need to have at least one year
77:30 - 78:00 of operations to have to have statements but you register with them and they have different categories um for example Community Investments which is seed grow and capital like three times they have six or something like types of purposes that they serve and if you apply to specific purpose make sure
78:00 - 78:30 to clearly apply to that purpose if you need to twist a little bit what you do okay twist a bit but make sure you apply a specific purpose and again it will deliver the feeling of safety to those now for example SE grow in he so SE is when you have an idea you never did anything it's a very good P for
78:30 - 79:00 you you idea of new nonprofit you apply I believe it up to $75,000 uh and that's it exactly same what they have so this is from the last year I haven't checked this year they haveen oh okay okay good um so after that you may apply for grow
79:00 - 79:30 grow um which is you tried and now you want to grow you tried it works and now you want to grow which is good sometimes you may so grow ground is up to I don't remember up to 350 or something um sometimes you may use somebody else's experience for example once we applied for Trum we have black here applied for
79:30 - 80:00 Trum and we said in Australia there there's an organization like us who already did it for several years and works well and we we put together you know partnership agreement with them and it worked so they gave us Ro Grant even if it was just starting
80:00 - 80:30 okay uh so you see what will work for you and apply specifically for the stream uh and basically it's relatively easy to get uh Trum gr don't be stuck with one uh gr there are many of them as I said look it up and and find what exists what the application deadline whatever measure your resources like your time because for example like Trum and uh
80:30 - 81:00 this Federal stability Grant they relatively easy to get maybe you start from there okay yes Prof is would you advise to build Network or how to build network with such Tye of like otmm say again please would you advise to build a network with the foundation or how to build a network to ensure that they understand and then we should be able to cover the back and then apply
81:00 - 81:30 for the okay so if I correctly understand the question if if you bring like supporting letters from some other organizations right the network you cannot make network with them because you you you don't have right to know who is looking at your application right but if you actually build a network and you have a good good board and you have a partnership agreements with serious organizations this and that of course it helps it gives more peace of mind Peace of
81:30 - 82:00 Mind by the way speaking of TR again one little trick uh basically how it works first of all they give it to community reviewers in most cases it's uh retired Professionals in my experience most of them are ladies and most of the ladies are Indian descent I don't know why but this is the
82:00 - 82:30 fact so when you're writing it think about that lady that's reading it okay think about what she wants to see there she's not like for example in most other um GRS they're bureaucrats the the government officials like here it's Community people right so they have no personal interest they they're not they're not thinking about their chair they just purely want to give back to
82:30 - 83:00 community very good thing when I retire I'll I'll go help them as well could you repeat that again when I retire kidding I'm saying that they have different steps of um uh selection so the first that goes to some Community represent uh in in my experience most of them are retired
83:00 - 83:30 professionals so think of of this person how they will look at what you write that's it there's no specific advice just just think about that and then it goes to the bureaucrat to the government officials so you have to write the way that retired professional person that will read it first will be happy with that and then the bureaucrat who will get it after that will will get this product of
83:30 - 84:00 uh um good feeling about their their chair right it's a little bit more complicated because of this structure but if you know it it actually works understood
84:00 - 84:30 any questions okay uh is it incorrect CL seven right now yeah okay good to know because I thought to myself six what um okay then guys then let's have a break you have 15 minutes of welld
84:30 - 85:00 deserved break sorry can I have question quick question so how many grants uh typically should we apply to get one based on your experience like uh in my experience we apply to one receive one we apply to three receive three uh basically when never literally never I'm not likeing when never uh here the situation hav got because we don't apply we feel that we we get
85:00 - 85:30 deliver and the feeling and uh we do it right and that's it no you don't you don't need to spend like a lot of your resources your time this do it right okay thank you thank you uh okay Amir Joseph come back come back
85:30 - 86:00 good okay this is one of the examples trium um another example is pedal accessibility gr again it's very easy for get um um it's when you when you have real estate right to make it accessible you don't have to own the real estate you just have to have it
86:00 - 86:30 like access to it I believe they they ask to prove that you will be a rate in just five years like for example we have an agreement Rel agreement five years that's good okay so it's really easy to to get um just make it accessible meaning to make build ramps to to build accessible doors like we
86:30 - 87:00 have here right elevators washrooms and so on so forth so if you get some some commercial space or office space or whatever you may do many things out of this we always do it like what you say like in this building you enter the main door right remember this door it's just good
87:00 - 87:30 nice door that opens from the bottom right we got the money for that door from this ground you enter here the ye Learning Center the same door right we go from the ground you just some of you just use the washroom here right all the washrooms we changed from the ground and we have this accessible veh accessible washroom right because they want washrooms on the second floor again we have accessible washroom and other washrooms so we did
87:30 - 88:00 it from this ground now when we got this building the elevator first of all was very old and um it's impossible to substitute it because it's on the an old shaft and Nothing fits to it it's just you almost cannot do anything so we had to hire engineer years so they think how to build this specific like new elevator that feds into into what we have otherwise just
88:00 - 88:30 impossible to do and we got this gr okay so this small elevator cost like big elevator but it's nothing to do but want to have we have our building accessible right elevator is is important and so on so forth and also accessibility is general term it's not only wheelchair accessibility it's a whatever
88:30 - 89:00 um to make sure that people who don't see well can access everything so you may think uh you may think how to get accessible almost everything in your in your building and this way you you get money to actually do it even your website you can make accessible yeah there's a an
89:00 - 89:30 organization of also gradu from ours um called World accessibility and um diversity Association something like that it's one of the grad of ours what they do they do assessment so you invite them and they tell you what you can do in your space so it will be accessible to all kinds of accessibility it's a very good thing first of all for you to know and also it's a very good tool to
89:30 - 90:00 use like you apply here and say we need to upgrade our website we need have elevator we need doors we need this that you on the floor also remember the Bal school they they wanted to do uh dances on wheelchair so they they needed wheelchairs they needed the special floor all of this accessibility and and again it's relatively easy to get and again it's different types like for example 100,000 for wor
90:00 - 90:30 for whatever it's relatively easy to get and also the good news with this specific Grant is that they have uh price tags on almost everything like washroom they know how you you don't have to prove anything you need to change the war this is how how much it cost this how much we we give you okay of course with with the specific situations like our gra elevator you have to talk to them but
90:30 - 91:00 basically it's very easy and is this compined only to nonprofits and Char okay basically this specific R uh can be given to even to for-profit but of course nonprofits have much bigger better chance to get now for example uh look at this Tri we have Capital Grant I forgot to mention your Capital Grant right Community Investments
91:00 - 91:30 capital capital is investment into real estate now trillo pays up to 3 million doll I believe uh but it should be 50% of the project the project up to up to 6 Mill million and they pay up to $3 million which is big
91:30 - 92:00 thing okay so remember I told you who is the best partner the best dollar for um Capital runs who is the best partner who will pay the rest landord landlord yeah exactly because the money goes directly to to the real estate also here's one little
92:00 - 92:30 trick um so the way how you um how you put together the budget like for example this GR in most cases they say washroom this price T door this price T this like TR for example they don't have price tag it's your job to show how much that does cost now how you do it TR wants you to publish to make a tender to publish information about the scope of work and get uh
92:30 - 93:00 offers from at least three companies and then they look at it and they give you the budget in accordance accordance to the smallest uh proposal but you don't have to hire that company to do this job you don't have to you can hire after that you can hire whatever company you want they don't ask you and they don't look at that so
93:00 - 93:30 that's how they set this SC the budget right but how you use the budget is your problem you may spend less you may spend more it's your problem they pay you this what matters is that the job is done then what they will be looking at properly s Engineers they will look very well should be done how much does it cost like for example this people say B
93:30 - 94:00 I don't remember this amount of money $8,000 I don't remember maybe you spend less nobody's asking right they decide the cost is this that's it here again you will you will provide them uh three votes and they will set the price they may they may even use it but then this will be the price you might spend less nobody cares
94:00 - 94:30 okay so what we like specifically elevator what you normally do for example you want to build an elevator you go to the to Trum and say or to to that gr for example and say okay we need an elevator you go to three biggest biggest suppliers and they give you both all real all actual good brands nobody ask questions but then when when you get it
94:30 - 95:00 specifically if you need to cover 50% and you are struggling with this 50% you may hire some Russian guys to do it cheaper right uh and it's fine and that's exactly to be honest exactly what we do otherwise it's really hard to get the entire 50% of the budget from the dollar normally uh you can hit to 300,000
95:00 - 95:30 500,000 and it's all good it's not it's not breaking anything just you have to deliver this they decided the price and you have to fairly do it to be done that's it okay so we're not hiding or something no this is the price they said the price now we man some because when they hire some whatever Russian guys we'll have to
95:30 - 96:00 work with it right big company they will have the management everything and that's what what adds adds to the price price St if we hire the specific smaller guys we have to stay with them we have to work with them we have to have our Engineers staying with them and all this stuff so part of what the companies will do we do ourselves but we safe otherwise we can Fe into the budget make sense yeah so when you will come to
96:00 - 96:30 specific situation come to me I'll be happy to discuss the details with you okay yeah see yeah it's even written here BL rates ramp for accessible doors accessible workrooms elevators lifts this and that yes what if you rent from or what if your company property has accessible uh
96:30 - 97:00 amenities but there's one thing that's broken or one thing can you still go to the federal accessibility grant to get that one yes because they change their regulations every minute and if you think you have accessible washroom you don't because right yesterday they Chang the regulations now you need to have the size of uh the bed that you will be able to put there like for example we had accessible washroom here but it doesn't work with the current regulations if you
97:00 - 97:30 don't uh alternate alternate anything if you don't change anything it's still grandfa it's all good but at the moment you want to touch something it should be in accordance to the current codes and here you go so you you go to this accessibility ground and say it doesn't work with the current code and we want to change it and it's it's fine okay any more
97:30 - 98:00 questions any any questions about GRS in general do they check like how you spend the money in uh again it depends uh Federal stability ground doesn't check treat doesn't check they do check if if there's an outcome right but they don't
98:00 - 98:30 ask how much you pay to home it's not their business they want to have this elevator to be built to be according to the codes like everything should be fine right it has to be done how much you pay to whom you pay it it's your business who cares they wanted to you know deliver elevator and this isev that's it now some grants for example this um New Horizons for seniors they asked to to to provide us
98:30 - 99:00 specific payments that you did which makes no sense uh because you may do the payments and then ask them to pay you back and donate B specifically when it's charity you pay and they donate that's that's it so makes no sense but some some grants do it sorry what's the name of that New Horizon New Horizon yeah for seniors you don't have to be stuck with
99:00 - 99:30 specific gr grants there are many of them again I gave you the tool that helps to find this New Horizon several times called us and ask you know what we have year and we have like 15,000 uh left can you think of doing something good with it sure and then they sent us that's it just recently just few days ago we got
99:30 - 100:00 15,000 again but we'll do something good for seniors of course like for example we used to have a program very nice program for seniors because uh the idea of the program came to my mind when I saw my mom she's a high level civil engineer but uh she's at her age right you mid 80s and
100:00 - 100:30 uh she came here she doesn't speak English and she feels isolated and she cannot contribute to the society and she is just an old lady who doesn't understand things around and it's a very different self self-esteem right so I thought to myself so from one side there are startups who are looking who don't have money and they are looking for high level mentors right for free right not to pay
100:30 - 101:00 them and from other perspective from other side there are high level professionals who come here but they don't speak English uh but why don't we find startups who speak the same language and that's why we made this program and it worked for a couple years and then we stopped it because it's just just um it really really takes a lot of time and we thought we it's not exactly what we want to do but it worked very well so for example Russian speaking
101:00 - 101:30 senior maybe meor for Russian speaking F start of Chinese speaking and the you know Hebrew speaking from India by the way majority of the seniors who came to us were either Israelis or indans some of them by the way still on our Mentor list that's the example so we submit
101:30 - 102:00 this application to New Horizon that we're happy to accept it it's really really good thing okay good are we done with the with BRS the last thing I want to tell you today uh is crowdfunding what's crowfunding
102:00 - 102:30 what is you get I'm sorry you get money from the different people so you you just say that we want to raise money on to up to this and people they donate like $30 $40 something like that okay Erin um what I've seen of crowdfunding is it's for specific project um and some
102:30 - 103:00 crowd funding sites require you to hit a certain threshold before they'll release the funds and it's getting money from multiple donors often in smaller amounts exactly thank you so basically crowd funding you're getting funding from a crowd so many many people give you a little bit versus when you approach dollars it's just one person gives you a lot um uh versus you somehow you know
103:00 - 103:30 approach many many people everyone gives you like $20 here you go the same amount now but it's much more important topic than you probably think I know well how to deal with prod finding so if at some point you will decide to do ground finding campaign come to me I'll be happy to discuss with you I help a few very good projects to succeed um so there are different types
103:30 - 104:00 of crow funding there's no one thing Crow funding there are different types the first time is as ER described now Char of fund when you have a special cause and you say hey we need money to build let's see whatever house for um shelter whatever some cause whatever it is
104:00 - 104:30 right and uh you collect money for charitable cost in exchange in any type of crow finding you have to give something even if it's if it's a charitable cause uh but in charitable situation you give some something symbolic like for example somebody collected money to build a school in Africa somewhere so in exchange they s a map of that region with the point of that school something but you have to
104:30 - 105:00 give something in the exchange uh different perks um depends on how much the person will get okay this a Char crowd now the crowdfunding sits on some crowd fighing cloudform there are many different brow finding platform platforms and you have to choose the one that works for you the that works best for you because for example two biggest
105:00 - 105:30 platforms Kickstarter and IND goo Kickstarter if I'm not mistaken they don't do charitable uh charitable finding project indogo does do it or whatever so you you you you can look what exactly their rules are and what's the best fit for what you do now you definitely can go to some smaller crowdfunding platform some local crowdfunding platform sometimes it's even easier because people understand and feel it goost
105:30 - 106:00 better basically the platform itself will not bring people to you to your page it's your job to to bring people that page platforms just helps you to facilitate it collect the money and also to deliver your message and so on so forth okay so charitable the next time is product prow finding it's a different thing what's product prow finding is when you want to uh start bringing on
106:00 - 106:30 the market specific product and then you say okay guys you give me money today and when and if I'll bring this product to the market you'll be the first to get it for let's say 50% of the price but if I not if I will not succeed sorry you lost the money so yes people have people have to trust in your C but and they take the
106:30 - 107:00 risk but it's actual product that you will have to develop manufacture and deliver if you succeed now you may fail but you may honestly fail if you just get money and don't do anything you'll go to prison right but if you fail like like in every business okay you can fail yes sir um yeah it do do do companies sometimes use product crowdfunding as Market testing of course for sure very yeah
107:00 - 107:30 it's a great tool for Market placing to see if there's Demand on the market to have pre-sales you never make money on on product finding never ever ever you may collect the money and then develop the product and deliver yes and also is a great tool for Market tting 100% but it's not it's not a business business it's just checking if there's
107:30 - 108:00 Demand on the market and marketing too and Market e exactly the next one is real estate problem it's a different thing by the way just so you know almost all the hotels now buildt through real estate PR and many other real estate uh buildings so how it works it's a
108:00 - 108:30 different animal basically remember I told you when we bought this building uh we got we bought it to $9 million basically and we got $6 million from uh from the bank this morgage and we got $3 million from uh investors right so normally if you want to build a building or if you want to purchase a building SE 65 70% you can get get
108:30 - 109:00 mortgage but the rest you have to put as down pay as nonprofit you can collect the money somehow or uh you can borrow the money somehow it's easy to borrow of course or you can go to Real Estate ground funding what does it mean it means that many many people everyone gives you $20 or whatever but you collect that $3 million that you
109:00 - 109:30 need okay but you offer those people that you will pay them certain interest per year let's say you say we want to purchase this building for yei we need $3 million and we we will uh you know pay back in three years and for now we will pay 12% interest per year let's say now if it's a nonprofit organization a charitable organization and if people
109:30 - 110:00 understand and get this good guy hitting thing then you may that you may offer lower interest but basically real estate crowfunding is when you want to purchase to build real estate and you want you want to get a loan from big crowd it's a loan okay let's say in 3 years the the you build everything you get GRS from uh from Trum from federal tability and this and that the value of the building goes up that's exactly what we did here uh
110:00 - 110:30 and then in three years the 70% that Banks Bank gives you is the 100% that it was originally okay so you just pay it back if everything goes goes well right um so all of these people like 300 people will sign up afraid uh all of them will be registered on your title because it's real
110:30 - 111:00 estate and you have to pay the interest that that you promised and let's say in three years as you said as you mentioned in the time you have to repay what do you think will happen if you don't repain in 3 years so all of the assets will be taken sounds
111:00 - 111:30 sad no nothing will be had nothing because there's no no regulations that that allow uh to do something the real estate if you don't repay it Stephanie you want to say something yeah I was going to say don't you have to pay them back at now the fair market value because your contract is n in void because you didn't make that payment uh no even even if what you what you're saying makes sense it's not uh it's not followed by the laws and
111:30 - 112:00 regulations so if you don't repay you just have to continue paying the interest that you promis if you don't pay the interest that's a different thing then it will go to court and your real estate may be sees um but it's not enough protection for basically crowdfunding is a risk and that's why that's why it's this small amount of money from from many people because the risk is not big okay
112:00 - 112:30 L $ so so much right so real estate crowd finding has to be done on real estate crowd finding platforms this special platforms properly licensed platforms there's one at Mars for example um yeah you can Google it there is a um Canadian crowdfunding Association very good tool they have
112:30 - 113:00 enough resources advice and uh links different crowfunding platforms all different types of grounding okay any questions so far okay so the last type is equity CR Equity prod funding is something similar to a company going
113:00 - 113:30 public doing IPO initial public offering right but it's much easier much cheaper so when the company does IPO you have to put together do of documents and everything that's really go equ crowdfunding is for for startups it's easier because nothing almost nothing and what you're doing you are say saying selling in this case you're sending the shares of your
113:30 - 114:00 company okay it's also regulated for example I believe you cannot sell more than 20% of uh of your shares and um uh any specific person cannot uh spend more than I don't remember how much money per year for Equity crowdfunding but again it's Equity crowdfunding platforms and it's total risk for those
114:00 - 114:30 it's just the you know startups one out of hundreds will succeed so you take your risk maybe it be next Google whatever and then the $20 will turn out to 200 Millions maybe not there's a little chance okay this is equity crowfunding so again charitable crowfunding product real estate Equity so different types
114:30 - 115:00 different platforms for that different approach and so on any questions now for any crowdfunding uh compa you need first of all you need you know what you need a story through Crow finding specifically if we're talking about charitable prodct
115:00 - 115:30 crowfunding you are setting the story sometimes when people come to me and say like what do I do with this product this and there I say you don't have product yet I don't feel you have a product but what do you do have you have a story once I was teaching in in Israel in arel University and uh one of the professors
115:30 - 116:00 approached me and said uh that they found the seeds of Asian grapes in the in the herd of of Jerusalem uh the seeds of the graves that were used thousands of years ago during the service in the temple okay and then they they they managed uh to take DNA from the
116:00 - 116:30 seeds and they found the wild Graves somewhere in Samaria in Judea and Samaria the wild gra Graves which with the same name so then they knew that this is exactly the grapes that were used like thousands of years ago during the service in the temple and they they had the recipe for for that W so they cultivated cultivated the the actual Wes so the same grapes and
116:30 - 117:00 the same recipe so this exactly the wine that was was used thousand years ago in the times of Temple the times of Christ and everything so he asked me said okay we have this research it's great we have exactly the same wine and was used thousands of years ago in the temple like how was sing I said you have a
117:00 - 117:30 story do c fny yeah and that's what they need because people pay for in this case people pay for story much more than for wine how much you pay for wine how much you pay for the story it's exactly the wine that Jesus was placing 2,000 years ago whatever right uh and that's what they did it was very interesting so first of all you have to have a story you're sending the story
117:30 - 118:00 because everyone understand everyone understands if they participate in crowdfunding it's a reason you might lose the the money but you have to you know get the story so first of all you have to have a story secondly you have good video that will deliver your story good way people will understand the selling the story how you sell the story you have the video it shouldn't be very professional video it shouldn't be
118:00 - 118:30 something very special you can shoot it yourself on your phone but it should cover and deliver the story and and also ye style of delivering ideas to the problem who is affected by the problem the current solution uh ta Your solution why you the best the people to uh solve this problem something like that right the next you have to think about
118:30 - 119:00 perks PR finding you have to provide perks specifically if it's charitable product what if people give you $2,000 for the people do whatever $100 $20 it may be thank you car it may be map of the area it may be well wine so a pin something or of course in case of
119:00 - 119:30 the product you're saying you'll be first to get this product okay so perks for different types of of donations or participations okay next you have to think of media regular media coverage because when when people
119:30 - 120:00 participate in ground finding it's a big risk you don't know anything right how do you know it's actually real how do you know if the problem exists how how do you know you you buying the the shares of some gra startup how do you know it's something that makes sense whatever again the fear of losing money and the fear of losing the the case of course in the case of CR fing the fear of losing money
120:00 - 120:30 is much bigger but much closer so how you bring people closer to the fear of losing losing opportunity regular media coverage so before doing your crowdfunding campaign you make sure that your story is covered by regular media by thr to Star by CTV whatever some regular media so if people Google it they will see the articles of something from
120:30 - 121:00 regular media and you put the the links to that regular media on your Crow funding page okay these are steps once again it's it's much bigger story that I'm telling now but when if you decide to do it come to me I'll be consultant okay any questions so far okay now I want to give you an example just
121:00 - 121:30 say there was a guy in this classroom he came and said basically uh what happened if you jump into cold water is cold the first couple seconds and then long right why because your organism they burn calories right to bring feed towards the
121:30 - 122:00 skin to overcome the the temperature right meaning at this moment he said you're losing weight so why don't we uh so he thought um you know to make um insults like the shoes the cooling insults and even pajamas so you are sitting somewhere you're going somewhere and you don't
122:00 - 122:30 even feel it because your organism is burning calories and bring brings heat to the point so you losing weight but doing nothing that was his idea so he said he was talking with different um potential investors and this and that and he even went to uh to dragon's then nobody wanted to support him why because there's no scientific research there's no no proof there's no product there's no
122:30 - 123:00 something so uh his name is Adam P so I said Adam you don't have the product you don't have the research you are not supported by anything the only thing you have is what is a story if you have a story the way he'll sell it is doing
123:00 - 123:30 okay no okay try to jamas he pajamas okay and that's what he did he was the York univers student I believe second year or something like that uh so he did CR CRF finding on Indo go this is the video it's a little bit
123:30 - 124:00 longer than it should be but it's exactly the Y style the problem theoretical solution Your solution uh why you are the best blah blah blah abilities uh and then me see how how we did let's let's run this you want me to click it or you can click it this is Jeff and this is his exercise routine he works hard to build up his cardio and muscle he also wants to lose weight but it takes energy and time to
124:00 - 124:30 burn away the pounds Jeff would stay in the gym and continue to fight for weight loss results but he needs to get to work imagine if you could take your weight loss regime home with you to burn calories long after you've left the gym now there is a revolutionary technology that allows you to do just that introducing the thin ice vest a slick wearable embedded with cooling
124:30 - 125:00 technology that forces your body to burn extra calories when I first got this idea I had this bolt of realization that this could be a game changer in the weight loss industry the 1.0 thin ice vest is ready for the mass market and is an amazing product that has already started to help people burn calories as they lounge around the house but we are crowdfunding to raise the capital needed to fund the 2.0 version of thin ice which is sleeker allowing it to be worn right under your clothing imagine being able to take your calorie burning with
125:00 - 125:30 you anywhere you [Music] go the 2.0 thin ice vest is comfortable in lightweight and will help you shed pounds even as you sleep the vest can even wait until you are in deep sleep before activating so the technology won't make you cold it will just make you thinner the thin ice Fest is also discreet enough to be worn under regular clothing so you can use it anytime day or night go to bed wake up leaner how
125:30 - 126:00 does the thin ice vest help produce calorie burning using cold temperatures the body responds by revving up and burning fat to keep your blood warm the process is called cold temperature thermogenesis that's a really ingenious solution anything that I could just wear dayto day that would help me lose weight would be an absolute asset there are certain people out there that we all love to to hate and these are the people who can eat whatever they'd like to and not gain any weight and what this product is actually able to do is give you those characteristics by speeding up
126:00 - 126:30 your metabolism I'm a gamer so having a cheat coat is something I'm all about another Innovative part of the thin ice system is the Bluetooth connected mobile app it allows you to adjust the temperature of the technology to your comfort levels you can also track the calories you're burning second by second and if you want to take things to the next level the app will recommend special diet and exercise routines to help you lose weight like a champ the thin ice
126:30 - 127:00 1.0 is on its way to the mass market now but thin ice 2.0 has vast improvements including a sleeker design hot swap rechargeable batteries and ability to be machine washed thin ice need your generous support to put this revolutionary technology into your hands in exchange for that support you'll be among the first to receive re the thin ice system the thin ice system contains the 2.0 vest the Bluetooth connected mobile app and the thin ice lifestyle ebook full of
127:00 - 127:30 special health tips and programs to hack your body lean the thin ice system is the most advanced and everless weight loss system on the planet the only thing I really got left is uh where do I buy one of these all we need now is you thin ice the coolest way to lose weight here you go it little longer than I would suggest but [Music]
127:30 - 128:00 yeah okay so uh what happened to the guy uh he went did this SC platform the video is from the second one he did two like one and almost immediately after the second one uh see the SS and the the body cover whatever uh he wanted to raise I believe $111,000 for the research because everyone was telling
128:00 - 128:30 him you need to do research you need to prove that we have the product now but by the way do you want the product L are you interested in no anyways so he wanted to raise $111,000 and he actually raised see $800,000 Canadian dollars back then this an
128:30 - 129:00 American right $800,000 he is a second year student okay so what happened to the poor guy by the way it's not it's not a success story it's a very successful Crow fighing campaign but it's not a success story so what happened with the guy he had he had to quit University he had to focus on doing actually manufacturing producing bringing to the market this product and then he failed doing it and then he stopped doing anything and then he was sued and I
129:00 - 129:30 don't don't know the result but it was like not the best story but it's a great Crow campaign and that's exactly uh all can I suggested him to do and see the result well we we thought he'll come to us and we'll help him and blah blah blah but for some reason he tried it's also psychological thing entrepreneurship like it's lot psychology it was too complicated like he wanted $111,000 and
129:30 - 130:00 got $800,000 and it was not good for him but good CR fighing campaign so he did this campaign he he got 800,000 Canadian and the second campaign he got 500,000 Canadian so all together and then he failed all of this and I don't know the result but I know he was Su and and everything it like that product would never
130:00 - 130:30 work so like you know obviously he failed I know but the the crowdfunding campaign is successful no yeah yeah it shows that huge demand it show show that uh he raised capital and whatever it says 3,7 6 something like 66% above what he
130:30 - 131:00 wanted right as I said he wanted I don't remember $11,000 or something um here you go I mean wouldn't it to be a better plan to like you know kind of do do something and then like keep the rest of the money because like he must have known that this would never work in the
131:00 - 131:30 beginning he was a young guy he was a second year student no K I believe he did work even I didn't know because I'm not uh The Specialist you know should be proper research done uh you you may get you know I or shre and gr to do work with univers to love and this and that and that's what we suggested him to do to raise some some money to see how how the market reacts then go to uh to LA
131:30 - 132:00 with Universe to test it and see what can be done this and that and do things but he got the money and he was like Wow and he he never came back to talk to us actually he quit University quit everything quit G he just whatever he tried to to do it I think he really tried but at some point he understood it will not work and he gave up if if you try it doesn't work it's okay as I said
132:00 - 132:30 but he didn't even try properly but it's a different different story I just just show you that this is the crowdfunding campaign that came out of this classroom and as a campaign was so successful so can't be done any questions about FR fund guys ask me questions because there are many many many things about fundraising and I cannot remember everything so ask me
132:30 - 133:00 questions yes Jose so I'm just curious to know if um because it's crowdfunded um uh is it like a donation like I see 3,000% um so is is is this something that he uh vouged to pay back when the um um company grows big or is it something that's like a donation or like a um no no no no it's not it's not it's
133:00 - 133:30 not Al loone it's donation uh what kind of crowd funding is it all of the four I I told you product product yeah it's a product finding right how product finding work no if it's charitable then it's donation no question right if the you you may get tax received if it's a Char organization you may not get tax received but you support the cost you receive something symbolic in return all
133:30 - 134:00 all good okay product crowfunding if it's a different thing you are actually buying the product but you understand the risk that if the project will fail it will fail but if it will be if it will succeed then you'll be first to get it and you will get it on very reduced price that's why I said you cannot make money on the product finding but you can understand how the market runs see how the market runs wow everyone wants
134:00 - 134:30 it just do it do it somehow um thanks Prof but the reason why I asked is if that is the case if they paid money and got a product um why why would they sue him because because they they don't have shares in the company or something they pay they get and then that's it it's so right but there is special law for grow finding specifically for grow BR which says you
134:30 - 135:00 can fail but you cannot not try properly so I don't I don't know the outcome of of the legal process I don't I I just don't know I just know that um somebody Su him uh and uh the idea of that of that of that lawsuit was that he never tried properly I think that because I just quickly Googled it I think the issue was they were expecting him to do part one
135:00 - 135:30 he never delivered anything and then now he did a upgraded version and he's looking for more money and then group one was like hey we want our product or the chance to buy it and that never happened and then he said we'll upgraded to part two but then that never happened either right but that that not that's not that's a mo moral reason for that but not the legal reason for that right the
135:30 - 136:00 legal reason is that he he got the money and he wanted to he had to work hard to try to do it and he did just after this he he thought you can wow I just ra so so much money I I'll do next campaign he did next campaign right after the the the first one this was the first one the video actually was from the and as I remember properly he raised like 500,000 Canadian on the second so it's like 1.3 million alog together for
136:00 - 136:30 this for the second year student um and that's it it was great idea for him to come back to talk to us and we definitely will help but million dollars is billion dollars it changes okay but uh but uh again so charitable uh charitable uh crowdfunding is a give
136:30 - 137:00 donation no question product crowfunding you pay for the product and then you get it on don't get real estate Crow funding you give a loan based on real it's a loan okay so yes it's crowdfunding but it's different types of agreements between people right equity crowdfunding you are buying the shares okay so it's it's purches and sale you will get certificate of shares
137:00 - 137:30 through this Equity Crow funding platform the company the startup still May Fail but you're you're shareholder um so um for that one like how many should sell I believe you have to look at the regulations but I believe you cannot sell through this channel more than 20% of of your sharees because they want you to keep
137:30 - 138:00 control keep it's your because it's crowdfunding right many many people so basically if you attract investors you're not getting just money right you're getting people who know something who may help you who may uh you know uh give you connections and whatever the problem with Equity Crow you're not getting this you're just getting money but sometimes you want it because investors yes they help you but also
138:00 - 138:30 they rule you versus SEC crowdfunding you get you get time of people and uh they have no rights to tell you anything you keep control of your company and that's it basically without Dr finding you may you may have up to 50 shareholders okay now if you want to go to go to equity crowd funding you may have as many as as whatever that's happened but
138:30 - 139:00 you don't sell more more than 20% future I may be mistaken maybe 25 but I think 20 uh and then if you do IPO then again you may have as many as you want and you can sell as much as you want in most most companies that do IPO that do public go um you know the Pounders they have 20% of the sharees for something and they still control the company because it's a big variety of people who
139:00 - 139:30 have the value value shares so they may sell more than 50% still and still have control just second eron you want to say something no okay yes um well I have the same question as Jo jph so that was answered but um last at the end of last class you said remind me to tell you how I we bought the yeti real estate for for
139:30 - 140:00 free I don't know if I heard that right I thought that's what I heard and I wasn't sure if that was the you were talking about the grants that you got or if this was something else yeah yeah I will tell you right now so basically I partially told the story so um at some point we understood that they need we need a building to become more real yes we may use the York University show School of Business facilities but
140:00 - 140:30 to have our campus where startups May lunch and grow and everything to be an Institute from this building like like here right it's it's a different story so we wented the building and I was driving around looking around this and that and at some point I saw this building so those of you who are physically come here you may see this well established night building right big 80,000 Square ft very close to York University and
140:30 - 141:00 it's an industrial zone so we can do manufacturing here everything ideal F what it was really run down and it was not in a good condition um and I just came out of the street I came to the owner of this building old gentlemen and I said it's a PE we're a Char of organization and this building is made for us it's close to University it's industrial Zone it's big
141:00 - 141:30 enough and it's uh you know can can be uh well well done and whatever it's just proper fit it made for us so can it be seven it wasn't on S I just came to and he said you know Powers involved he said you know what I just recently spoke with my wife and she said let's go to Florida maybe you are you you are the
141:30 - 142:00 messenger about Florida I said yeah great and he actually sold us it wasn't on the market I just came to him and explained to him our our purpose our vision and everything and he really liked it and his wife told him to go to Florida and so the the uh Val evaluation the appraisal for this building was $11 million he sold it to us even he knew that the evaluation was $ million he
142:00 - 142:30 sold it to us for $9 million 9.17 so here originally said the price I said where Char organization have to do to do appraisal we cannot buy and we did appraisal and Appraisal came and he saw it 11.3 said I'll keep my word so yeah so $9 million with our budget of
142:30 - 143:00 zero and the good how so first of all we registered a for-profit for-profit holding company as I said right which is all developments Al specifically to work together with Y uh in this uh then we went to a bank uh it was scoia Bank actually who agreed to give us money so they gave us
143:00 - 143:30 $6 million so yes the for-profit organization is recently registered but it has me there and they can see I experence entrepreneur and of course yei gave guarantee so they they see the revenues that ye like we have approximately $2 million Revenue every year and we explain to them how we will Opera and we gave them agreements with
143:30 - 144:00 big startups to show them that we already have people to fill in the entire building uh and that's how they they agreed to uh to give us $6 million and then quickly there were some tents here as well but we slowly substitute them with seual gradates of our programs now we
144:00 - 144:30 have almost no people from the previous home okay now but now we need to to get $3 million right so we got out of nine which was great we got six from the bank and now we need three option one was to to do Equity ground fing to do a real estate Brad fund or we can find investors but so we need $3 million so we found
144:30 - 145:00 three people honestly I'm one of them uh who agreed to to give $1 million each uh but to make some $8 million is almost impossible for for the beginning Char organization that's why I already told you it's much easier to get it as a loan say give me it's like real estate ground finding but not from from a
145:00 - 145:30 CR they give us this money as a loan okay and in three years we'll return it back maybe with interest maybe with st receip by interest that's negotiable okay so we found three people people G who gave us loan now $6 million from the bank $3 million from investors but that's actually a loan okay here you go $9
145:30 - 146:00 million uh so we we we purchased this building and immediately we apply to all the possible grants the federal accessibility grants to to do doors and this and that to tril uh to do I don't remember what but sometimes um when you get Freedom grants they allow you to do renovation as well the grant is not for renovation the grant is for for a program I believe it was for the program
146:00 - 146:30 for non profits but they part of the money they gave us for innovation of of the educational space okay and then elevators and washrooms and this and that and that and that and we got money from donors and we did faad as well from donors somebody US money to to do the entire facade um and now it's a great building and we got all the startups here in the three years we got new new
146:30 - 147:00 Val valuation appraisal so originally it was actually 11 which was good but in three years we got I believe 14 so the appraisal for the building was $14 million now 17% of 14 is already $10 million okay so in 3 million in 3 years we got new mortgage which was uh we
147:00 - 147:30 actually got nine we were able to get 10 but we got nine and we repaid the 3 million doll you understand just because the appraisal the the valuation of the building went up it's not because of the market it's because of what we did here right we received all these grants we brought all these wonderful startups and we got the revenue and everything and that's why Val went up
147:30 - 148:00 and we paid $3 million back and uh miraculously the investors agreed to get tax receips instead of interest and uh that's it that's how we go free yes of course it takes my knowledge experience connction blah blah blah right but but formerly formerly y bought this building for nothing exactly the same happened with the second building we have wonderful building here on guil Street exactly the
148:00 - 148:30 same story so both the money from investors I can loow from investors and the money from bank and the three years we um ref financ it and paid it back and that's it make sense Joseph um thanks uh Professor Mar that's a nice uh um encouragement um I just
148:30 - 149:00 wanted to know if the investors were somebody who whom you would already have relationship who can trust you or are they people that that heard your story and we're ready to invest I'm asking from the perspective of if I am willing to do this do I have to start my connections already or wait to the point where I will go look for investors so good question out of three people one was
149:00 - 149:30 me uh the second is uh a friend of mine uh from Russia wanted to build his business in Canada and he was thinking that I will help him to do it which I did actually then he decided to brush his better and he but at that point he thought he he wants to build his future here so he was thinking that he I will not be able to say no when he will ask me something uh that was his moving
149:30 - 150:00 thing and the third one was actually high level Canadian donor who the to University and to to programs and I explained to his son-in-law that it's shameful to for them to not participate in such pro project and they agree and and I said you will do it without even spending money on us because you just give us million dollars for a year we'll just return it
150:00 - 150:30 to you back in three years and uh don't worry and um if you want we will pay you interest but we'll appreciate you if you agreed on the tax receip which is also good thing for Corporation right so it depends it depends um but by the way I even offered to this gentan that sold us this building to put his name here because he actually gave us $2 million right uh but here VI he said no I'm good
150:30 - 151:00 I'm happy what you guys will do here he said you will raise additional money for that without so I'll go to Florida I will know I help that's how he believed in the in uh what you want to do he trusted in what we want to do and was time to go for any more
151:00 - 151:30 questions no guys yes I uh regarding the renovation part do you need to be like the property owner or if you rent you can also apply for the grants yeah as I said every Grant has their own regulations uh normally they ask uh to
151:30 - 152:00 show that you will be able to use this space for at least five years so if you you have normal disagreement for 5 years it works I believe Trum Capital Grant requires 10 years but that's the maximum I saw the the that l will always be happy to to to sign a 10 year agreement with you if they get half a million dollars invested in their real estate right for the same purpose even if they don't understand you may explain it to them
152:00 - 152:30 that the value of your building will go up and you may refinance it right and use the money towards different Pro the next project okay anybody else yes it's so in this um crowdfunding case if that person could have come to
152:30 - 153:00 you what could it happen T if you want to do Crow finding for example also from the video oh if Adam will come to me no of course I will uh we'll talk to them we will first of all he had to do proper research if you have research uh that will show you something right if you have research that that shows that it's actually doable good then go to manufacturer and do something if it's research will show that it's doable partially do it partially you can
153:00 - 153:30 partially fail or something if you do research to show show you that it's impossible uh then it's impossible that maybe donate this money to something good then nobody will blame you for for that there's no mechanism of returning the money you just have to be sincerely doing things right of course you'll be able to to help him I I think that's not um that's not complete waste like if you do proper
153:30 - 154:00 research you probably can find some something important out of that and then then do maybe not not exactly this some something else maybe some op will help something do something so another question on that instead of doing crowd funding on the product if you could have done same thing crowdfunding with Equity will that could will that work better yes if you do grow funding with Equity uh then people who pay your money
154:00 - 154:30 they receive the product meaning meaning the shares right they want to buy shares they receive shares and then if company fails it fails you invest in startling it fails like okay now again if you take money if you if you take money from uh shareholders and then you just pocket the money and do nothing they may sue you of course but if you're sincerely trying to do things then it's good but I think it
154:30 - 155:00 was much easier to sell the product in this case because of good story right uh than shares maybe maybe OK dog you guys good okay so uh I don't remember if the next session will be seminar um or it will be round table but at some point we'll have seminar again so when you see the seminar please please try to come in
155:00 - 155:30 person it's really really works better for you so we will make round table and we will discuss as many projects um as we could uh and then we will have round table which will be different session for legal and tax issues so again I'll cover uh what ever I think should be covered but again it's it's a big sea of questions and issues so you read the book you ask questions and discuss whatever then we'll have really good uh
155:30 - 156:00 lawyer that works with chares and really good account works with chares no Propet uh you will be able to ask them questions and then we'll have 15 minutes at the end when you will be able to ask questions me to me and that's the thing so two sessions ahead uh and then you'll have other instructors and then at the end as I said you will have theay and we'll have the exam in the exam you will be given the specific for-profit case and you will have to think of a
156:00 - 156:30 different non for profit that relies on the same equipment or same technology okay so how you develop technology for this for-profit Venture without spending your resources through this nonprofit that's the question okay okay good all good great thank you guys and I will see you in a while