Preneuraholics Funding Source

Preneuraholics.com is now live. This blog will be continued at its new location with a whole new look. Please continue to read about this incredible new peer to peer funding option and follow me here.

Preneuraholics.com is now accepting requests for funds.

This new funding source is intended to help entrepreneurs who are not able to obtain funding from traditional sources.

Check out the small businesses that have posted their requests here .

Notice that these folks are exactly the people that Preneuraholics Unite intended to help when its peer to peer GIVING concept was first concieved. These owners have been caught in the maze of the current funding system that doesn’t work for the little guy, or are being severely impacted by the current state of the economy. They have legitimate businesses or start ups and could use some help from their fellow entrepreneurs.

Why should you help? What will you get out of it? Preneuraholics Unite was created as a way to help bring back good old fashioned American ingenuity and bring out the community spirit of yesteryear. Remember the barn raisings of the pioneer days? Neighbors gathered together to help their fellow neighbor (usually farmers) bring in the crops or build their home or barn. This is the spirit we need to revive in order to find our way out of the economic mess that is placing yet another stumbling block in front of entrepreneurs trying to better their lives.

While the economy has devestated many, there are still plenty of Americans that are doing alright. They still have jobs. They still have a semblance of security. Why not give a helping hand to an entrepreneur who can help jump start their own local economy by creating a new small business? That new business owner will be compelled to pay it forward by donating to another entrepreneur.

Americans are known for their giving spirit. They give and give and give to 3rd world counties. There are countless organizations that concentrate their efforts on helping folks in need from other parts of the world. What about our fellow Americans in need? Let’s take that same spirit of giving and help those in own backyard.

Preneuraholics Unite has been created to offer a new funding source for entrepreneurs in search of funding for their small business start ups. Please read the previous posts here to get the detail. Briefly, this option is available for those that have not been able to secure funding through traditional sources such as SBA loans, venture capital, angel funding or grants. Credit scores will not be a factor.

We are using peer to peer GIVING to fund each other. With small donations from $10 - $100 (or whatever you can give) we will make a difference. With hundreds of thousands of entrepreneurs looking for funding, we must unite together to help each other.  We cannot rely on Uncle Sam anymore. We need to create our own funding sources and create our own change to the current system of funding.

While excitement for this concept has been building and many people have responded overwhelmingly favorably, we need to get the word out that donations are needed to make this work. If you believe the time has come for us to unite and do something different, please plan to choose a business to help by contributing.

Requestors will need to prove their worthiness and ability to launch their company in order to attract donations. See previous post for info.

Potential donors understand the “return on their investment” is not a monetary return. We shouldn’t expect a return on a small donation.  We are not creating another lending source. We are following a pay it forward philosophy. Our reward or return is in the knowledge that we are helping a fellow entrepreneur achieve his or her American Dream.

Requestors in turn are strongly encouraged to become participating donors. While you may not have the $20,000 that you are requesting help with (for example) you surely can give $25 to a fellow requestor. Those that are funded should feel compelled to return and continue donating to other requestors. Remember, it’s all in the power of numbers. It’s all in the power of unity.

Simply agreeging that this can work won’t make it work. We need to actually participate. Please join us at Preneuraholics.com to help create change!

 

For those of you posting a request for funds at Preneuraholics.com , I cannot stress enough the importance of writing the very best description of your business idea and your needs. (Scroll down to read more about this innovative new funding option.)

A well written post will either make or break your posting. Do not waste your time or money by hastily shooting off a quick or boring request. You need to stand out. You need to be compelling. You need to attract attention. You need to make potential donors WANT to help you.

Tell us your story. You don’t need to tell us your entire life’s story, but do elaborate about your dream of starting your own business. Make us feel the passion that you feel for your business idea. Pull us in and convince us that you can do this.

Give detail about how you intend to use the funds. For example: don’t just say you need $20,000 for start up costs and equipment. Tell us you need $10,000 for building out the space; $5000 for the outdoor sign; $1000 for the point of sale system; $1000 for office equipment; $3000 for inventory. Upload copies of estimates or pics of the equipment or any other items that will give donors confidence in what you plan to do with the money. There is an example of a project posting here .

I would strongly suggest that if you are not a good writer that you find a friend to help you. Think of this as a one shot deal. Don’t blow a golden opportunity because you didn’t create a good posting. Give us your best!

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As of this posting launch is expected the week of December 20th! Stay tuned for further updates and Follow me on Twitter

 Preneuraholics.com is getting ready to launch. Read through the posts here to learn about this exciting new funding option. This new concept will bridge the gap for those that cannot qualify for loans, venture capital, grants or angel funding. Credit ratings will not be a factor.

Requestors find Donors by creating a description page with their business idea. Tell us about your entrepreneurial endeavors.

• What is your idea?
• How far have you developed the idea?
• How much time have you spent on development?
• What resources have you used thus far?
• How much have you invested monetarily into the business startup?
• How much more do you still require?
• How will the donated funds be used (the more specific you are the better the chances for receiving donations)?
• How are you qualified to run this business?

The more compelling and interesting your story, the greater chance you have of attracting fellow donors. The more donors that contribute to your startup, the sooner you will reach your goal and get your business launched!

So get creative. Be descriptive. Keep it honest. Keep it real.

You should include photos or video of yourself and your family and any other images that will contribute to your overall description. You should include items that will give donors confidence in you and your business plan. Examples of proof of startup that you can upload to your posting:

• Financial statements such as start up costs; assumptions; projected income statement
• DBA certificate
• Business registration certificate
• Domain name; url of website
• Other similar proof

Donors will donate to those entrepreneurs they feel are worthy. They need to be convinced that you have what it takes to create and run your business.

Preneuraholics.com, the new Internet platform designed to help entrepreneurs obtain funding for their small startups, will launch soon. Please see previous posts here that explain how this new funding option will work.

Briefly, requestors will post their startup descriptions and funding needs. Funds will come from fellow entrepreneurs by way of small monetary donations. (Yes, donations. This is a fresh new concept expressly for small business startups.)

To ensure you attract the most donations, it is vitally important that you be prepared to provide proof of your start up work to date. Potential donors will be compelled to fund projects that they deem worthy of their help. You want to give them as much information as you can comfortably provide without divulging confidential info. Tell us your story.  Tell us about you. Convince us that you can carry through with your business plan. What is your background? How much have you contributed monetarily yourself?

Your fellow entrepreneurs have already expressed interest in participating and donating. If you plan to post a project and request funds you should begin to prepare your posting. You will be able to cut/paste your text and upload Excel spreadsheets and .jpg (photos) files. 

The posting fee will be $49. A serious entrepreneur understands this is a reasonable investment in their startup.

Excitement is building! Be ready to post  your startup and funding request. Donors will want to have plenty of projects to choose from.

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There are comprehensive FAQ , Project Info , How This Works and Tell Me More pages with much more information and answers to your questions at Preneuraholics.com. Stay tuned and be ready to post!

Preneuraholics.com is getting ready to test prior to public launch. Here is the concept. Entrepreneurs funding entrepreneurs.

BY JOINING FORCES WE CAN HELP EACH OTHER!

There are hundreds of thousands of us preneuraholics (serial entrepreneurs) in need of funding.

Thinking in small, achievable terms, we work with $10 increments. We give each other very small donations as low as $10. Yes, donations. We’re shaking things up here folks. 

Loans? No!
Donations? Yes!

When we say we help each other, we really mean we HELP EACH OTHER
by donating $10 (or more) to our favorite start ups.

 There are hundreds of thousands of us out there trying to get our business startup financed.  By coming together to help each other with a small $10 (or more) donation, in just a few short months your new small business can be up and running without the added stress and risk of a loan that would need to be repaid.

Your chances for success are now that much greater because:

• you don’t need to repay a loan
• you don’t need to cash out your 401K account
• you don’t need to max out your credit cards
• you don’t need to risk your home with a home equity loan or as collateral

Example:

$10 from 50 donors = $500
$50 from 10 donors = $500
$100 from 5 donors = $500
$1,500 in only one week!

Can you see the possibilities here? In just a few weeks you are funded. You are finally funded.

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Start a dialogue folks. What are your thoughts about this concept? Read previous posts for more info.

The new website, Preneuraholics.com is getting ready to launch! Here is a mini preview of the page Request Funds: 

Requestors find funding by creating a description page with their business startup idea. While we do not encourage the posting of your actual formal, written business plan (for confidentiality reasons), we do want to learn about your entrepreneurial endeavors.

• What is your idea?
• How far have you developed the idea?
• How much time have you spent on development?
• What resources have you used thus far?
• How much have you invested monetarily into the business startup?
• How much more do you still require?
• How will the funds be used (the more specific you are the better the chances for receiving funding)?

Remember, the more compelling and interesting your story, the greater chance you have of attracting funding. The more interest you attract with your startup description, the sooner you will reach your goal and get your business launched!

So get creative. Be descriptive. Keep it honest. Keep it real.

You should include photos or video and any other images that will contribute to your overall description. 

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Preneuraholics Unite will fill the gap for those of you that don’t qualify or have been turned down for venture capital, SBA loans, angels and grants.

If you need funds you can apply. Your credit history will NOT be a factor. What you will need is a great business idea and a great passion for your idea. If you can convince your fellow preneuraholics (entrepreneurs) that your idea is viable you can get funded.

Follow me on Twitter for launch updates: twitter.com/preneuraholic