From Hesitation to Expansion: MODERNSPEAK’s Bold Moves in Financing and Team Growth

MODERNSPEAK, a women-owned digital PR agency founded in 2018, was on its way to  becoming a leader in the influencer marketing industry in Canada. Faced with a capacity crunch, they needed to expand but hesitated due to uncertainties around financing.

MODERNSPEAK encountered several barriers that limited their ability to grow:

• Unaware of Financing Options: Without exposure to how other businesses finance their growth, borrowing funds was not something they considered.
• Fear of Debt: As a fully bootstrapped business, the team was apprehensive about taking on debt without a clear strategy to deploy funds effectively.
• Uncertainty About Growth Strategy: Lacking a clear roadmap, the executive team struggled to determine the right steps for expansion and securing financing.

"Growth Catalyst gave us the permission to grow. We hadn’t really thought about what we needed in terms of financing, and we were scared of taking out loans—which I think is pretty common for women in business. The program showed us that many other businesses going through growth phases take loans, lines of credit, or use other forms of financing. This helped us connect with the right people at our bank." — Rose Chase, Managing Director, MODERNSPEAK

Growth Catalyst helped MODERNSPEAK position themselves for growth:

• Understanding Financing Options: Gained insights into various funding options and connected with financial experts.
• Confidence to Invest: Developed a pressure-tested growth strategy, boosting confidence in making financial decisions.
• Doubled Team Size: Quickly expanded their team, enabling them to take on new opportunities and clients.
• Detailed Roadmap: Created a clear plan for growth, including steps for securing financing.

“For a business of our size, what we learned through Growth Catalyst has been invaluable. You can’t put a price on the insights and progress we made. I can’t wait to see where we are in two years and to look back at how this program was a catalyst for so much of our success.”

—Kristyn Snell, Founder, MODERNSPEAK

Through Growth Catalyst, MODERNSPEAK gained the knowledge, tools, and confidence to make informed financial decisions and invest in their future. Doubling their internal team has enabled them to scale operations, take on more clients, and unlock new growth opportunities.

Ready to invest in your business? Growth Catalyst can help you develop and execute a confident, growth-focused strategy. Contact us today.