I recently learned of a cool new website via my ongoing social networking, and I was impressed enough with the idea to share with you here on Return On Now.
[NOTE: I am in no way, financially or otherwise, affiliated with the service I am about to preview for you.]
For those of you who interact with me on Twitter, surely you’ve seen the materials I’ve been sharing regarding the difficulty of getting your hands on financing or investment capital for your small business ventures. Credit markets have been squeezed to a pulp, it has been challenging to figure out how decisions are being made at the SBA, and angel investors and venture firms are being more cautious than we’ve seen in years when doling out funds. What’s an entrepreneur to do?
The answer: Turn to your peers!
Preneuraholics was created to connect business owners who need some startup capital with other business owners who might be gracious enough to donate a few dollars to the cause. For a nominal $49 fee, you can list your business with a description of it and why you need the money. Then, others can donate whatever they feel comfortable sharing, even as little as $10.
Preneuraholics: Small Business Social FundingThis is a great idea! With all the talk about goodwill and giving back, there is finally an easy way to share not only advice and insight, but also cold hard cash. The power of this model will come from the number of participants. After all, most of us can afford to donate $10 or $20 to a struggling entrepreneur who just needs a break. In the grand scheme of things, that is not a lot of money to give up, but it can add up rather fast with solid participation. In fact, the site does a great job of highlighting how fast funds can add up…again, with the right level of participation by not only the businesses themselves, but other small business owner peers.
Need more incentive why you should participate here? In their own words…
It is time to take back the American Dream.
Americans are uniting together to develop a whole new system of small business funding.
By joining forces we can help each other.
It’s all in the power of unity!
And who can argue with those points? Not me, for one.
The site is still very new, so they are just now building up projects seeking funding and participants to help make it happen. I chose to write it up because I think it’s an idea that needs your support. Please check out the site, create a login, and see if there’s anyone you can help. Heck, reach out to them afterward and introduce yourself. I, for one, would be more than willing to engage with a new contact who believes in my idea enough to donate to it.
Please come back after you review the site and let me know what you think of it. And if you want to engage with the site proprietors directly, you can find them on Twitter @preneuraholic.