Blog of 40Billion.com, the entrepreneurs' social network!
June 21, 2012 Leave a comment
Are you as excited as we are? 40Billion will soon launch a new site redesign, complete from top to bottom (except the mobile site, which will be redesigned later this year). We’re working diligently to bring you a fresh new look that is more visually appealing, enhances your user experience, and helps you discover all of the great features that are available.
Coming next week. Stay tuned.
June 8, 2012 3 Comments
Is the idea of achieving the “American dream” a dying fantasy that is becoming impossible for more and more people? Yes, unfortunately, it is true. There is no doubt that the economy is suffering, and suffering with it is the American dream.
Entrepreneurs can’t afford to start businesses, families can’t afford to buy homes, and students can’t afford to go to college. Banks don’t seem to care, and the government seems to be paralyzed from the waist down.
But the fact is you don’t need a bank loan in order to build and grow a successful business, just like you don’t need an Ivy League college degree in order to be a successful entrepreneur and businessperson (though, it can help). We have to help ourselves and save our own economy, our own businesses, our American dream.
Raise money. Build dreams. 40Billion.com … Let’s start here!
June 7, 2012 Leave a comment
There is one thing that invariably stands between an entrepreneur’s idea and their success: NAYSAYERS.
When our founder dreamed up 40Billion back in early 2008, so many people told him that a social funding network for startups via the Internet would never work. Venture capitalists, attorneys, friends, family, even some entrepreneurs were naysayers. Just 4 years later, it’s become an industry, and we’ve worked with the SEC, Congress, and President to create new laws facilitating social funding networks for small businesses raising money. There… Told you it would work!
Naysayers are everywhere. All too ready to say that your idea won’t work. That nobody will buy it. That it’ll never work in “the real world.”
Naysayers predicted failure when the copy machine was invented in 1956. And when Google launched in 1996. And when Facebook launched in 2004.
And pretty much every time an entrepreneur conceives a new idea, there is a naysayer waiting to tell them it won’t work.
Has this ever happened to you?
Don’t let naysayers quash your dreams or stop you from pursuing them to the fullest. The naysayers are often wrong.
June 6, 2012 Leave a comment
At 40billion.com, we provide online tools to help small-business and startup entrepreneurs increase access to funding and resources by leveraging their social networks, including friends and family. Here are 5 tips that we give to entrepreneurs to help them approach friends and relatives about their business:
1. ASK FOR ADVICE & REFERRALS, NOT HANDOUTS
When you approach friends and family about your business, just share your idea in a conversational manner, and ask them for their advice, feedback, or referral. People are usually glad to give you their point-of-view if they think their advice or feedback may be helpful. And, if they really believe in you, they will either offer to help or they’ll be willing to refer you to someone who can help.
2. FORMALIZE A LOAN OR DISCOUNT
Businesses often get started with a loan from the entrepreneur’s friend or relative, but it can be difficult to manage the relationship, especially if the loan is not formalized with a written agreement. Create a formal loan agreement with details of the loan, including what is owed, when payments are due, and any consequences for missing payments. Even if you’ve promised a discount to your friend or relative in exchange for a loan or referral, put it in writing and provide a discount coupon that can be redeemed. This may significantly reduce the risk of ruining your personal relationship over business.
3. GIVE A PRESENTATION
Are you serious about your business? Then give a business plan presentation to your friends and family, and show them. This is your chance to display your professionalism and passion, while getting free advice and feedback from people you know. The result could get you closer to the funding, resources, and customers you need to get your business up and running.
4. POST ON SOCIAL NETWORKING SITES
Add a description of your business to social networking websites, such as Facebook and LinkedIn. This easily allows your friends and family to read about what you’re doing and spread the word to other people they know. So, instead of you going to them, they will come to you and ask about your new business.
5. KEEP IN TOUCH
Be sure to thank your friends and family who supported you or helped you spread the word. Then, be sure to keep the lines of communication open by sending them regular company updates to let them know that their support has been put to good use, and you’re achieving those milestones that you set in your business plan. These communications will go a long way toward maintaining good relationships with your friends-and-family supporters, and they will be more likely to support you again as customers, investors, advisors and advocates.
June 4, 2012 Leave a comment
All great ideas start in the same place… the minds of the entrepreneurs who conceived them.
But why do most of these ideas never go anywhere, while others become great new products and services, or social changes that impact millions of people?
One great trait of winning leaders – entrepreneurs who are able to successfully execute on their ideas – is their ability to visualize success.
Research shows that the most winning leaders naturally visualize themselves being successful well before they actually achieve success.
Visualizing success is simply the process of visualizing yourself after you have achieved your goals. Whatever your entrepreneurial goals are, start to visualize what success will look like. Once you really picture it, your mind will accept the possibility of it becoming a reality. This will motivate and help you on the journey to actually achieving your vision.
June 2, 2012 Leave a comment
Our PRICELESS commercial for 40Billion.com is a hilarious parody, yet surprisingly true, don’t you think?…
Who Really Invented the Lightbulb? Really?
June 18, 2012 1 Comment
Did you know that Thomas Edison did NOT invent the light bulb? Really, he was just the first to successfully bring it to market and raise awareness of it.
Successful entrepreneurs don’t focus on the fear of someone stealing their idea (especially if you have a patent). They focus on executing on the opportunity by bringing their idea to market.
This is what the 22 inventors of the incandescent light bulb before Thomas Edison FAILED to do.
That’s right. Twenty-two inventors had the idea before Edison, and Edison didn’t necessarily steal their idea. He just did a better job of taking it to market, and this is where the value is.
If you have an idea, protect it, and then you can just focus on executing and bringing your product or service to market successfully.
Did you know that 40Billion provides an informative business startup guide for protecting your ideas and intellectual property through patents, trademarks, copyrights, and NDA’s?
Download the short MP3’s and listen to them on your computer or in your iPod, while at home, in the office, or on-the-go. Then, download the easy-to-use templates that come with each startup guide.
Go to http://www.40billion.com/startupguides/ today.
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