New Source for Funds!

[ZingerIntl]

You just STOLEMYDREAMS of having a real post to read in response to my post. LOL

[bizdev]

With hundreds of thousands of small businesses and start ups looking for money, are you going to only be uniting the small businesses? Or are you going to open up to all the "employees" who can help get us "job creators" up and running, so in the long run they can always have a job? Reason I ask is RULE #1 in getting funded... Only ask people with the ability to fund you.

First off forget the "rules". That's the point here. Change the rules!

Now, I am not being selfish just honest and I raised all my own money and I did it the hard way. If, when I started looking for money, you asked me to donate $10 to Joe in Idaho, I woulda said, WHY? I am looking for the same thing as Joe? This seems anti productive to me. I can donate $10 to 8000 start ups, no one gets started, and I get nothing. Now tho, I spend many hours a week mentoring and investing in new entrepreneurs and their dreams.

Not at all anti-productive because the hope is that a Requestor will apply the Pay It Forward philosophy and turn around and donate something to another startup. A Requestor should certainly be able to come up with $10 or $25 to Pay it Forward to one or two others. We're not asking each donor to give to 800 startups. Who's got $8000 to give to strangers? But certainly we can give $10 to one or two startups that we believe in. I'm not asking to give willy nilly. The Requestors have to come to the table with a compelling idea and some proof that they have attempted to scrape together funding on their own and they are making a good faith effort at moving forward. People with pipe dreams need not apply.

If you go to the public and ask all the scared, lemmings (not to be rude) for $10 to help create more jobs in the country, which helps with everything in the country, then they will even hear the Pres talking about how entrepreneurs of today and tomorrow are the ones that are going to save this country. And for $10 donation this could multiply into hundreds or thousands of jobs near you. I wish you great success.

Somebody else can create that business model. Preneuraholics Unite is concentrating on entrepreneurs and small business startups.

Thank you for the good wishes.

[bizdev]

Originally Posted by ZingerIntl
If you go to the public and ask all the scared, lemmings (not to be rude) for $10 to help create more jobs in the country, which helps with everything in the country, then they will even hear the Pres talking about how entrepreneurs of today and tomorrow are the ones that are going to save this country. And for $10 donation this could multiply into hundreds or thousands of jobs near you. I wish you great success.

I may have misunderstood this altogether.

[ZingerIntl]

What I am saying is, if you open this up to every person on earth that would like to donate $10 to an entrepreneur, can. Not just asking entrepreneurs to donate to other entrepreneurs. Here is my issue with the world of finance.

Finance world has a cookie cutter outline of what a borrow has to fit into. Credit score & income. So why is it that no matter how much money I make for myself, I can not get a $5000 loan until my income is 2 years old but my brother who makes half as much working for someone else gets $40,000 LOC? Its all ass backwards and you would think that 2008 woulda taught the banks something. WRONG. (Does this make sense, my 1 year old company makes $60k a year, I can not get a loan, I pay my girlfriend a salary of $30k a year for 3 months and she gets a loan for me.??????) NO SENSE. SOOO how this relates to you is...
Like other p2p lending sites, everyone can lend or donate, but you make it so only start ups and small biz owners can receive the cash. Thats a cool idea. I just think that (as all my original points suggest) asking entrepreneurs to lend to others is good, asking everyone in the world to lend to entrepreneurs is great.

[TCooley]

I really like the concept and looking forward to your website launch. You can count me in. I always like reading about what other entrepreneurs are doing and wouldn't mind donating a little to something I like. We can start with your idea, if you like.

[akula]

So entreperneurs with achievable dreams (not million dollar enterprises) are "bottom of the barrel"? It's attitudes like that that have put business ownership out of reach for the avergage Joe and Jane. Whatever happened to mom and pop enterprises? That's who I want to help. That's who most of us are.

..well, adverse selection in relation to your business works on a very fundamental level. when i donate money to an entrepreneur, i want to make an impact. i want to donate it to someone who has experience in starting and operating a business. someone who has organisational skills. a sales person. a thrifty someone who can put together teams, keep them selves accountable and have the innate drive to persevere through difficulties. by definition, these kinds of experienced business people can get finance elsewhere, and don't need to rely on donations. so with that in mind, what kind of people does that leave you with?

do u want to donate money to some hyped up college kid who's gonna spend it on beer the minute they get bored of their kiyosaki audio tapes? do you want to give it to some "inventor" who's been designing their world changing gadget for 10 years without ever talking to a real potential customer? do you want to waste your donations on some day dreamer who's just gonna blow it all because they don't have to pay it back? what you're talking about is the equivalent of me giving away loose change to the neighbourhood crack head...the donation does nothing to alter their lifestyle, but merely functions to perpetuate it....that’s the whole thing with unaccountable philanthropy...it fails at achieving its stated objectives..because the subject of the donation is left unaccountable.

the point is....adverse selection...and the quality of entrepreneurs that you're gonna have posting on this web site....amongst a whole bunch of other things...

[bizdev]

..well, adverse selection in relation to your business works on a very fundamental level. when i donate money to an entrepreneur, i want to make an impact. i want to donate it to someone who has experience in starting and operating a business. someone who has organisational skills. a sales person. a thrifty someone who can put together teams, keep them selves accountable and have the innate drive to persevere through difficulties. by definition, these kinds of experienced business people can get finance elsewhere, and don't need to rely on donations. so with that in mind, what kind of people does that leave you with?

do u want to donate money to some hyped up college kid who's gonna spend it on beer the minute they get bored of their kiyosaki audio tapes? do you want to give it to some "inventor" who's been designing their world changing gadget for 10 years without ever talking to a real potential customer? do you want to waste your donations on some day dreamer who's just gonna blow it all because they don't have to pay it back? what you're talking about is the equivalent of me giving away loose change to the neighbourhood crack head...the donation does nothing to alter their lifestyle, but merely functions to perpetuate it....that’s the whole thing with unaccountable philanthropy...it fails at achieving its stated objectives..because the subject of the donation is left unaccountable.

the point is....adverse selection...and the quality of entrepreneurs that you're gonna have posting on this web site....amongst a whole bunch of other things...

So by your definition small businesses can't make an impact? Maybe they won't make an impact on you personally; maybe they won't impact the world economy; but they certainly impact the new business owner and their families.

A person requesting funds through Preneuraholics.com will need to prove to potential donors that they are worthy. It is entirely up to the Requestor to show within their "story" that they have what it takes to make their business succeed. That is why I keep saying over and over (here and in the blog) this is for serious entrepreneurs. This is not for young punks with their latest great idea that might take the cash and blow it on beer.

Sure a mere $10 is just loose change if you need $20,000 to cover your start up costs. But, $10 multiplied by a thousand fellow "beleivers" adds up. And of course many people (including family and friends of the Requestor) will give much more than $10. And keep in mind, we're talking about start up funds for a small business. Start up funds. We're not looking to fund the whole enchilada.

Equating an entrepreneur with a small business plan with a crack head only shows us what kind of mentality you come from. You are quite full of yourself. You talk down to me as if I'm an idiot with a stupid idea. Innovation comes from the little guys too. It is not just multi-million dollar ideas that built this country. It is the average all American down the block that builds up and develops their local economy.

[bizdev]

What I am saying is, if you open this up to every person on earth that would like to donate $10 to an entrepreneur, can. Not just asking entrepreneurs to donate to other entrepreneurs. Here is my issue with the world of finance.

Like other p2p lending sites, everyone can lend or donate, but you make it so only start ups and small biz owners can receive the cash. Thats a cool idea. I just think that (as all my original points suggest) asking entrepreneurs to lend to others is good, asking everyone in the world to lend to entrepreneurs is great.

Ah, well it was a given that the donation portion of this would be opened up to the general population, of course. How could we possibly turn away donations from non-entrepreneurs? Entrepreneurs Funding Entrepreneurs is a tag line, not a closed door.

[bizdev]

I really like the concept and looking forward to your website launch. You can count me in. I always like reading about what other entrepreneurs are doing and wouldn't mind donating a little to something I like. We can start with your idea, if you like.

See, that's all it takes is one person willing to help another person and it can snowball. Stay tuned for the launch and you might have the honor of being the first donor.

(BTW, thanks for the offer of donating to my own idea, but, I am not accepting donations. Preneuraholics Unite is a self funded business.)

[akula]

So by your definition small businesses can't make an impact? Maybe they won't make an impact on you personally; maybe they won't impact the world economy; but they certainly impact the new business owner and their families.

A person requesting funds through Preneuraholics.com will need to prove to potential donors that they are worthy. It is entirely up to the Requestor to show within their "story" that they have what it takes to make their business succeed. That is why I keep saying over and over (here and in the blog) this is for serious entrepreneurs. This is not for young punks with their latest great idea that might take the cash and blow it on beer.

Sure a mere $10 is just loose change if you need $20,000 to cover your start up costs. But, $10 multiplied by a thousand fellow "beleivers" adds up. And of course many people (including family and friends of the Requestor) will give much more than $10. And keep in mind, we're talking about start up funds for a small business. Start up funds. We're not looking to fund the whole enchilada.

Equating an entrepreneur with a small business plan with a crack head only shows us what kind of mentality you come from. You are quite full of yourself. You talk down to me as if I'm an idiot with a stupid idea. Innovation comes from the little guys too. It is not just multi-million dollar ideas that built this country. It is the average all American down the block that builds up and develops their local economy.

sylvia..i think you have some interesting points, there are ways to improve the screening process etc...and that's all fascinating etc...but at the end of the day we've probably both had enough experience with startups to know that it's impossible to predict whether something's gonna suceed or not..so any debate on the issue is redundant

in that sense, let me break it down for you. my role here is to give you totally objective, unbiast feedback on how to get off to a good start with preneurholics. right now you're off to a bad start, because you have to bang your head against the wall convincing people that it's a good idea.

life doesn't have to be that hard for you. get some surveys filled. archive your self some hard evidence that there's a market for what you're offering. that's step one..and if you're not taking it, there is a serious problem.

[bizdev]

you have to bang your head against the wall convincing people that it's a good idea...archive your self some hard evidence that there's a market for what you're offering.

So far the only person that needs convincing that this is a good idea is you. Support for this idea has been overwhelmingly positive.

The evidence that there is a need for this funding concept is also overwhelming. I've spent several years advising entrepreneurs where and how to get financed. I've had direct experience and contact with lenders and advisors (SBA; loan officers; SBDC counselors, etc) discussing these financing options. I know that the majority of entrepreneurs looking for funding simply don't meet all of the stringent qualifications. And we are NOT talking about "bottom of the barrel" or "crack heads" as you so crudely identify these folks. We're talking about people that in many cases spent years saving towards their dream business but lack industry experience. Or have industry experience but not in management. Or otherwise lack a piece of the puzzle that keeps them from qualifying for a loan.

There is plenty of "evidence" that shows a clear need for something different. Why not this idea? I'm the one putting everything of my own on the line for this because I know there is a need. There are hundreds of thousands of us out there in need of funding for our small business startups. Why does the current system of funding have to dictate whether or not those small businesses come to fruition? Why not take a new look at this and go in a different direction? Why not take matters into our own hands and help each other rather than let the system dictate whether or not we can proceed with our business plans?

[ZingerIntl]

Maybe what you can do as well is make a section on your website where people can make service donations. Give them a donation receipt for doing things like, making a website, or giving legal advice(lawyers only). If we can eliminate some of the costs, your donations will go farther.

I really enjoy mentoring/guiding young entrepreneurs. I am sure I would go through your site, find someone that I like and offer to help.

If someone would like to offer to modify my website, (you will need to be quite good as it will be something you have never seen before) I would love the donation. Last guy that offered to help me ended up making hundreds of dollars a week in a totally separate business. You get what you give.

[bizdev]

Maybe what you can do as well is make a section on your website where people can make service donations. Give them a donation receipt for doing things like, making a website, or giving legal advice(lawyers only). If we can eliminate some of the costs, your donations will go farther.

Interesting idea. I had thought that the blog section of Preneuraholics.com would be a good place where I could continue to offer start up advice and direction (in a general way so as not to appear to favor any particular project and sway donations). But, for now, one idea at a time. I want to perfect the original model before adding on.

Great feedback though. It's good to see there are others willing to give.

It's time for a change. It's time to try something entirely different.

[chuff1026]

i had a similar idea with netrepreneurfunding.com about a year ago
but it wasnt donations
it was a platform for startups to pitch their idea and sell equity in their company

[akula]

So far the only person that needs convincing that this is a good idea is you.

who here would donate money to strangers through a website so they can start a business, and how much would you donate?
do you have a prefference to the type of ventures you would donate to?
do you have a prefference to the kind of entrepreneur you would donate to (by location, age etc..)?
do you think that controls are necessary to show how your donation is utilised?