Crowdfunding: Profounder bites the dust
Crowdfunding Site Profounder Shuts Down
Just got the news this morning that a crowdfunding site called Profounder is shutting down. A far as I know they never really got going but it’s still sad to hear about the loss of a prospective member of the community.
There is now a group that lobbies for crowdfunding that supporters should know about.
Another Amazing Crowdfunding Success Story: Omari & the Orphans
Crowdfunding Can Perform Miracles
Just three weeks I read a heart-wrenching story on Reddit.com about an attack on a defenseless orphanage in Kenya by some thugs. I’m not sure of the details but somehow the story ended up on Reddit with a graphic image of a man named Omari who had suffered a machete wound to the head while trying to protect the kids. The wound put him in the hospital for two days and required major stitching. (Don’t click that unless you can handle grisly wounds.) Omari and his Reddit associate then asked Redditors, who have raised money before for various good causes, to donate $2000 for a wall to protect the orphanage.
Long story short, within about 24 hours over $50K had been raised to build the wall and help the orphanage out in other ways. At last count, over $80K has been raised. Continue reading
Startup Advice: Fake it Till You Make it
The Entrepreneurial Spirit
This is about a real life Zelig and the entrepreneurial spirit.
Do you really need to fake it till you make it? In my humble opinion, the answer is yes in the majority of instances. This is especially true if your startup is a B2B business. Existing businesses rarely gamble on the new kid no matter how low the quote is. There’s simply too much at stake for everyone from the purchasing agent on up to the CEO.
This can also be a factor in B2C businesses. Ask yourself if you would trust a lawyer, doctor, or accountant fresh out of school. Chances are high that you wouldn’t. Nobody wants to be a test guinea pig for a stranger learning on the job.
How do entrepreneurs, deal-makers, and startups get past this credibility obstacle? They fake it till they make. Basically, they puff up the business to make it appear larger and more established than it maybe in reality. If you know what to look for you will see that everyone does it to varying degrees. The most successful entrepreneurs are experts at this game. Continue reading
Startup Capital: Don’t Count Your Chickens Before They Are Hatched
Shark Tank Lessons for Entrepreneurs Seeking Startup Capital
Shows such as Shark Tank and its international versions from Canada and the UK are worth watching if you are a first time capital raiser. They give you a very good sense of what it’s like to pitch savvy investors. You need to invest time figuring what tough questions will be asked and prepare answers that will satisfy the asker.
Here’s a short article on one Shark Tank winner who six months later was shocked to discover that she would not be getting any money after all. What happened? The investor changed his mind. This happens a lot more than entrepreneurs like to think. Read How Not to Become ‘Shark’ Bait by Eric Sherman. Continue reading
A Funny Way for Startups to Promote Themselves
Promotion Tricks for Startups
I like this idea. You can hire a fire & brimstone preacher to do a one minute video pitch for your business or anything else–so long as it’s in good taste, I imagine. It will just cost you $5. Watch the video here to see the gent in action. Continue reading
The 5 Golden Rules of Business Development
Developing new business is one of the most important tasks facing any entrepreneur. Whether you are launching a new operation or taking your company to the next level, there are some key guidelines to follow. Here are five golden rules: Continue reading
Sh*t Entrepreneurs Say
This is hilarious. It’s a compilation of all the annoying phrases and buzzwords entrepreneurs over-use. An all-too common problem with being an entrepreneur is that after a while you begin to believe your own bullshit. This is especially true of those involved in pitching investors for money. Continue reading
The Ultimate Crowdfunding Site List
Crowdfunding for businesses
- 40billion http://www.40billion.com/
- appbackr http://www.appbackr.com/
- capangel http://www.capangel.com/
- cofundit http://www.cofundit.com/ Continue reading
House Passes McHenry Crowdfunding Bill
House Passes McHenry Crowdfunding Bill
House Passes McHenry Crowdfunding Bill Removes Barriers to American Innovation, Job Creation Washington, Nov 3 – WASHINGTON Today, Congressman Patrick McHenry (NC-10), Chairman of the Oversight Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs, applauded House passage of the Entrepreneur Access to Capital Act, H.R. 2930. The legislation enjoyed broad bipartisan support, passing by a vote of 407 to 17 and receiving a supportive Statement of Administration Policy* from the President. “Small business folks in Western North Carolina tell me time and time again that uncertainty and over-regulation are hampering their growth. Continue reading
Best Crowdfunding Sources for Seed Capital: FundaGeek
What is FundaGeek?
Here’s a new site aimed providing crowdfunding for technical innovation. Continue reading
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