b'Why 2024 Could be the SHAWN BROOKMake-or-Break Year for PRESIDENT, SEED WORLD GROUPsbrook@seedworldgroup.comseedworldgroup.comSeed Innovators@SeedWorldGroupLAST YEARwas not kind to seedthey planned to fund with a futureBranding: Why is Audience-and ag start-ups. The March failureraise after they hit the sales-based of First Republic Bank threatenedmetrics without regard to sustain- Centric Storytelling Critical? to wipe out the checking accountsable margins. This process could of hundreds of businesses. Whengo on for several rounds with aIN AGRICULTURE,we are collectively very good at total catastrophe was avoided,tweak to the strategy here andsharing informationwe do it all day, every day. But is rising interest rates and inflationa new product line launch there.that sticky enough? Does that convey the why of what started chopping weeks, monthsThat ended in 2023. Private equitywe do? Last time I checked, customers or potential and even years off the fundingand venture capital groups nowcustomers often make emotional decisions when we runways of dozens of companies.demand more meat on the bone.ASSUME they make decisions based on logic and Start-ups are used to living on theTheyre sitting out the early roundsinformation. We are good at sharing information BUT it clock, but the pace that the minutesto focus on more mature compa- does not make the emotional connection necessary for were ticking off in 2023 means thatnies that are closer to generatingpeople to truly connect with you and your brandand 2024 is a make-or-break year forpositive cash flow. This could createwhether you like it or not, you have a brand. Your brand many. A common question is: with- what I call the Great Sorting Out ofis who you are, what you stand for, why you do what out new money, can this business2024. Start-ups that have over-builtyou do, and sets the stage for what your clients should get to positive cash flow beforetheir internal organization, investedexpect from you going forward. It is critical that your folding? Suddenly, raise timingin inefficient capital, and need sev- brand is true to you!became the most important strate- eral more rounds of investment areI use a very simple overlay when helping clients gic maneuver. If a business raised ain trouble. Those that operate withcommunicate effectively and it is based on AUDIENCE/big round in 2021 or 2022, it may below overhead, have strong supplyMESSAGE/CHANNEL. Clearly understand who you are great shape. If a business was wait- chain partners and are focused ontrying to speak with and be as specific as you possibly ing for the right deal or just didntsustainable margins may have thecan, be clear on what you want to say specifically to need the capital until 2023 or 2024,capital markets all to themselves. them and then, and only then, decide what platform is it could now be in trouble. While itsGro Alliance is providing solu- the best way to get that message to them.a terrible situation for companiestions to start-ups looking to suc- We have all heard great stories that convey an idea caught in the middle, the currentceed in this new environment.more clearly and make them more sticky or memora-financial reality will create betterOur farmer network spans eightblewe remember them because they are powerful discipline for the future. A popu- Midwest states across multipletrusted ways to make a connection. Some people say lar model had developed where acrops. Weve expanded our nurs- they are great at telling stories and some say they are start-up could raise a small (some- ery business in the US and Chile toterrible. I would pick the person who says they are ter-times large) fortune with the goalinclude more services and morerible to tell my story every time because they tend to of buying access to farmers andlocations. Were giving start-ups afocus on making a connection more than trying to be acres. Theyd offer amazing termsmarketplace advantage by keepingslick. Slick does not work for making a connection. or performance guarantees thatthem capital-light so they can beSo, starting with a dose of self-awareness is great when laser-focused on building a greatstarting down the storytelling path. In my mind, the business! That will never be morebig difference between sharing information and telling important than in 2024. stories is how it gets built. Stories are about and for the person listening or reading or watching. Sharing infor-mation is about putting a check mark beside informa-tion that we think a potential client would need to know JIM SCHWEIGERT before making a buying decision. Both are crucial, but if executed in the wrong sequence, they fail to deliver PRESIDENT, GRO ALLIANCE the desired results. Making a connection is critical to jim.schweigert@groalliance.com generating your audiences listening. If you share critical groalliance.com @jim_schweigert buying information but have not created that persons listening to hear you as a trusted source of information, it will not be heard the right way or not heard at all.36/ SEEDWORLD.COMFEBRUARY 2024'