Session Two
Insights from purpose-driven organisations on how to become investment ready
SSession two was hosted Bjorn Everts, also representing the Indigenous Land and Sea Corporation (ILSC) with Skye O’Meara, Manager of the APY Art Centre Collective (APY AC).
During the session Skye took us on a journey of the establishment of the collective and an exploration of what happens when you bravely stick with an idea, even when coming up against the people who say, ‘that’s just not how it’s done”, “we’ve never done it that way before”, or simply “it can’t be done”.
The Art Collective is a group of 11 Indigenous-owned and -governed enterprises, based in the Anangu Pitjantjara Yankunytjatjara (APY) Lands. In APY communities, the art centres are the only source of non-government income and provide an opportunity for Anangu people to be paid for culturally safe and affirming work.
In her retelling of the establishment of the collective, its massive growth and increased international profile over the past few years, Skye reflected on three key learnings:
1. Know what you are in the impact space
It’s important when you’re in the impact space to find out what you are, a social enterprise, a for-good business, fee for service etc. because once you know what you are you can become more intentional when it comes to establishing the internal structures required to become investment ready.
2. Find values aligned partners
Skye explored two key relationships with the ILSC and Westpac and how these served to fill gaps in their knowledge of the investing space, help them to navigate and network with investors and be ready to seize opportunities when investment was on offer.
3. Recognise when you’re not going to get someone to ‘yes’
There’s real strength in tenacity and a great quote from the night was “It was a clear no, but I was receiving it as a maybe”. When seeking investment, it can be hard to know when you just need to repackage something, provide another layer of accountability, or apply a different lens to the proposal to get someone from a no to a maybe, but it can be equally challenging to recognise when it’s just not going to happen. This can be a cause of burnout for those working in the social impact space, especially when we feel a sense of responsibility to the communities we work with. A great reminder from this session is that it’s ok to step away from a conversation with someone that’s just not into you.
