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Packing boxes getting ready for the fedex guy. and finally, the company had to figure out how to promote the brand beyond word of mouth. it s about getting your own customers and creating a strong digital strategy for us to say, hey, we re here. when talking to investors, the order of their pitch was deliberate. not only were we raising money to address these three pillars, but we were doing it in that order. that s sort of how we roll out the spending. and ledbury s business plan was being updated and improved. it becomes dramatically better because you re sharing your dream, the workings of your company with people smart enough to help you out. not every investor said yes. the pair took every no in stride. one or two people who said no, you know, the timing wasn t right and the shirt business wasn t right for them. but i think we gained a lot of value from those conversations. it helped they knew what kind of partner they wanted. ....
we had a small friends and family round getting the business off the ground. rather than going to one or two individuals, we spread it out among probably 20 initial investors. it quickly became clear that these entrepreneurs would need a cash infusion to expand the way they wanted. it was probably about the 12-month to 16-month mark. it was sort of the nature of the beast. before committing to the process, tribble and watson considered these questions to make sure ledbury was ready. how much money do we need to raise to prepare ourselves to scale up and grow the business going forward? with revenue up about 200% and the addition of a small retail space, they decided to go for it. we had the track record of running for about two years. we ve proven that the model worked. and that s how ledbury series a came to life. the hope was to land $2 million. we said let s raise money to ....
Be able to test these things to grow the business and scale it but not have enough money that the mistakes are going to be really expensive. the pair had three goals in mind when pitching to investors. at the top of their wish list was more inventory. to have shirts, to be able to sell shirts. we figured if we bumped up our inventory by two, we could grow 30%, 40% off the back of that supply. a consultant agreed that based on demand, there was definitely room for improvement. you know, basically, put it down on paper and said you re missing this many sales because you re out of stock this much. you just need more inventory. with sales going up, ledbury also needed a larger staff. we ve outgrown the two of us and a couple other staff members we had. we needed to go out and get a few specialists. one area of concern was customer service where employees were multitasking. we did fulfillment here and the same place in our office space. they d be answering phones and ....
These thing that is we think are going to work to grow the business and scale it, but not have enough money that the mistakes are going to be really expensive. the pair had three goals in mind. at the top of their wish list was more inventory. to have shirts to be able to sell shirt. bumped up our inventory by two that we could grow 30%, 40% immediately off that supply. a consultant agreed that, based on demand, there was definitely room for improvement. said you re missing this many sales because you re out of stock this much. you need more inventory. with sales going up, ledbury needed a larger staff. we ve outgrown the two of us and the couple other staff members we had. we needed to go out and get a few specialist sfwls one area of concern was customer service where employees were multitasking. we did a fulfillment here. they would be answering phones ....