UTAH FARMER MARKET NETWORK

WAYS TO FUND

AND GROW

2

Entrepreneurial/VC background:

• Best-selling author: The Pitch Deck Book
• Helped raise more than $500M in early-stage capital
• Former Executive Director of Park City Angels
• Launched multiple ventures with one exit
• Boothed at Wheeler Farms Holiday Market

Director of Entrepreneurship | Governors Office of Economic Opportunity (GOEO)

TIM COOLEY

3

Best State to Move to

Utah ranked No. 1 for best state to move to�in 2024

ConsumerAffairs — Aug. 2024

Best State for Small Businesses

Utah ranked as the #2 friendliest state for small businesses

Bankrate — Nov. 2024

Best State Economy

Utah ranked No. 2 for best state economy

WalletHub — June 2024

business.utah.gov/accolades

Best State

Utah ranked as the No. 1 state for the second year in a row�U.S. News & World Report — April 2024

UTAH IS

startup.utah.gov

Objective:

Strengthen Utah’s position as a premier global leader for innovation and entrepreneurship.

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Measurement:

Increase Utah’s new business startups by 50% by 2029.

Governor

Built Here. Prosperity.

startup.utah.gov

startup.utah.gov

WAYS TO FUND

AND GROW

Booths

Issues

• Capacity limitations
• Single-moment sales
• Vendor Competition
• Timing

Opportunities

• Increase prices*
• Multiple locations*
• Loans (USBCI / Micro Loan Funds)*
• Become a lender (Royalty options)
• Help the companies you support

*Options have consequences

Sponsorships

Issues

• Fewer companies sponsoring
• Few companies to ask
• “What is in it for me?” – ROI mapping

Opportunities

• More smaller options
• Community sponsor > corporate sponsors
• In-kind with activation
• Make partners do something

Grants

Issues

• Long time frames to apply (80 – 100 hours)
• Don’t often align with company direction

Opportunities

• Grants.Utah.gov
• Grants.gov
• Economic Development Grants
• Partner with your city for something bigger
• Post Performance
• EDTIF / REDTIF

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Revenue

Get Creative

Use the platform you already built to make new opportunities

Experiential Events

Farm to table restaurants, Exclusive product drops with limits

Corporate Team Building

Private tastings and tours, behind the scenes connections

ChatGPT

Explore new options with AI, find ways to add value to current customers

Social Media Monetization

• Tik Tok, Behind the scene video, vendor spot lights, affiliate links, promotions

Word of Mouth

Partner Activation

Get Creative

Traditional Ads

Word of Mouth

Issues

• Requires Remarkability
• No strategy
• “Hope”

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Opportunities

• Unique Experiences
• Limited Offers
• On the spot moments

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Traditional Ads

Issues

• Expensive
• Targeting Issues
• Who is the true customers?

Opportunities

• Collective Marketing
• Bring a bunch of people together
• Facebook Events
• People are eager for things to do!

Partner Activation

Issues

• Partners (Sponsors) don’t want to “do” anything
• They aren’t mutually beneficial
• Partners take and don’t give

Opportunities

• Tap into their markets
• Use automation to increase communication
• Chumem, Hubspot, PipeDrive, Mail Chimp
• Require X number of posts as part of deals
• Create Unique Experiences
• Increase price for no participation

Get Creative

Get Creative

Use your community in new ways to find new customers, new vendors and new revenue streams.

Challenge / Competition

Create partnerships and competitions that target new demographics

Themes

Create unique themes where the market is one stop in a large events, secret show

Surprise and Delight

Select Random Guests to do give aways, do mentions and tags

Pickle Ball

Use popular sports to bring in new audiences, host a tournament along side

Conclusion

Everyone is a marketing company!

• Use the social tools to gain awareness

Use your market as a Lead Generator (build email lists)

• Set up automated follow-up and other sales opportunities
• Use your lists and platform to test new ideas

Need to create “recurring” revenue outside of the event

• Launch new “products” and services

Be an advocate for new products

Use AI to find new opportunities

• You know your market, buyers and skills

startup.utah.gov/get-started