Praxis Community Projects provides life and language support to some of the most vulnerable migrants in London. Their Language Gym helps newcomers improve their language skills through technology and direct support, helping them engage more successfully in society. We initially helped develop the business case for the Language Gym, but securing investment to launch it during recession was a real challenge.
Working with Praxis’s senior leaders, including the CEO and finance lead, we provided essential coaching to improve their investment pitch – a marked change from grant-based pitching. Our coaching gave them the confidence to let their passion for the business flow, helping the social equity and investor market see the huge benefits of investing.
We also revised Praxis’s financial model to strengthen the business case and show financial and community returns, analysed potential investors and helped define a new governance model. We ran bid development workshops and organised a dummy-run ‘Dragons’ Den’ so the team could practise pitching to an expert team. This helped them prepare for the real thing – the Dragons’ Den event we hosted with real potential investors.
Our support gave Praxis's people a new commercial edge to their selling skills and helped them grow their network of contacts. They secured their initial requirement of £290,000 and have established the Language Gym, providing vital support across London. They are now aiming for wider UK coverage with sector and commercial partners.
To find out more about developing a winning business case and growing your organisation, please contact us now.