What is the #1 cause of business failure?

According to the SBA, the #1 reason why entrepreneurs fail to launch and grow successful businesses is simple: LACK OF FUNDING

So what happens if you can’t get funding? Well, if you don’t have any money, you can’t even start your business in the first place. And even if you do start it, if you have too little funding, chances are good you’ll go out of business!

Here’s the GOOD NEWS: You can avoid business failure by learning how to successfully raise money from everyday investors and funders in your social network and on 40Billion.com.

Think about it… if you knew how to quickly and easily raise $20,000 or $200,000, most of your problems would disappear, wouldn’t they?

www.40billion.com

When is the best time to raise money?

A common question asked by small business owners and startup entrepreneurs on 40Billion.com is “When is the right time of the day/week/year to raise money?” It helps to plan.

We have 5 rules of thumb to improve your chances of getting the attention of funders – whether they’re friends, family, or even strangers who are funding your business:

  1. Avoid holidays — People are on vacation.
  2. Avoid Mondays — People are too busy. Friday’s are best.
  3. Avoid late nights, early mornings — People are sleeping, and you should be too. 11:30am, 1:30pm, and 7:30pm are best.
  4. Avoid the end of the year — People are either on vacation or just too busy trying to hit end-of-year work goals.
  5. Weekends are okay for social networking sites, but not work email — If you’re contacting funders via social networking sites (e.g., Facebook), then you may get their attention on the weekend; however, don’t try emailing them at their work during the weekend because you’re not likely to receive any responses.

 

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40Billion.com Launches Funding Probability for Small Business Entrepreneurs

Tool uses algorithm to estimate likelihood that friends and family will invest in a business

40Billion.com, the leading professional social funding platform, has launched a beta version of its Funding Probability tool to help users determine who in their social networks are most likely to provide funding for their business ventures.

It is estimated that over 50% of new businesses generate funds from friends and family of the entrepreneurs. However, for many entrepreneurs, the main challenge that they face is locating the right people who are most willing and able to fund their ventures. Recognizing this common problem, 40Billion.com has created a unique solution called Funding Probability.

As the name suggests, the Funding Probability tool helps users estimate the probability that each person in their social network will become a funder or investor. The tool is based on a proprietary algorithm, which ranks each of the user’s contacts and indicates funding probability with an easy scale of High, Medium, and Low. The “High” probability contacts are those individuals who are most likely to provide funding to a particular business venture, and the “Low” probability contacts are individuals who are least likely to fund it. Based on this scale, the system is able to match the user’s venture with the most promising funding sources in their social networks.

Since launching a prototype of the Funding Probability tool in April, the company has seen promising results as 9 out of 10 actual funders in the entrepreneur’s social network on 40Billion were ranked either High or Medium on the funding probability scale.

The Funding Probability feature saves entrepreneurs time and resources that they often spend chasing unlikely funding sources. Fundraisers can access the tool by clicking Invite Your Friends on their business fundraising profile page, and 40Billion takes much of the guess work out of raising money. Step by step, the online company is working to make social funding easier for U.S. small businesses to raise money than traditional funding methods.

About 40Billion.com

40Billion.com is the social funding network for small businesses and startup entrepreneurs. 40Billion.com, Inc. is the first Internet-based microfinance company serving American small businesses. 40Billion.com’s scalable platform helps entrepreneurs raise funding more affordably through friends and family than through banks or other traditional financial institutions. Using proprietary online tools, entrepreneurs build social networks – including friends, relatives, colleagues, customers, and other contacts – and use these connections to raise capital through small business loans and gifts. Entrepreneurs create fundraising profiles and invite their connections to offer funding in exchange for discounts or potential returns. In business since 2008, the company aims to address a $40 billion funding gap. 40Billion.com, Inc. is headquartered in Atlanta, GA.

Want to know which of your friends are most likely to invest in your business (or someone else’s business)?

Ever wondered which of your friends is most likely to invest in your business? Want to know which potential funders you should pursue and invite to participate in your Raise?

Use our amazing new Funding Probability BETA feature to find out the likelihood that each of your contacts will fund your Raise (or even someone else’s Raise).  Just click the “Invite Your Friends” button at the top of any Raise to find out more and make your social network start working for you!

 Add contacts to your network and find out which ones are most likely to fund your business.

40Billion.com Launches Audio Startup Guides To Help Entrepreneurs Start New Businesses

Five downloadable guides help entrepreneurs start new businesses quickly with tips for raising money, writing business plans, incorporating, managing cash flow, and protecting ideas.

40Billion.com (http://www.40billion.com), an online micro-funding and social networking platform for entrepreneurs and business professionals, has announced the release of 5 new Startup Guides to aid new business owners. The downloadable audio guides and templates provide quick access to information about raising money, funding options, business plans, company formation, cash flow management, and intellectual property protection.

In these Startup Guides, users can discover useful tips on 5 of the most important topics for new businesses:

On the website, users can download the short audio files and listen to them on any MP3 compatible player, including iPod and other portable music players, personal computers, iPhone and other smart phones, and many cars equipped with MP3 players.

Furthermore, users can download easy-to-use templates that come with each audio guide. For example, the startup guide on how to write a business plan comes with a 13-slide business plan template that users can fill out while listening to the audio instructions.

There is no charge for the first Startup Guide, and additional Startup Guides are $0.99 each. For more information, go to http://www.40billion.com/startupguides or click Startup Guides on the 40Billion.com site.

About 40Billion.com

40Billion.com is the social funding network for small businesses and startup entrepreneurs. 40Billion.com, Inc. is the first Internet-based microfinance company serving American small businesses. 40Billion.com’s scalable platform helps entrepreneurs raise funding more affordably through friends and family than through banks or other traditional financial institutions. Using proprietary online tools, entrepreneurs build social networks – including friends, relatives, colleagues, customers, and other contacts – and use these connections to raise capital through small business loans and gifts. Entrepreneurs create fundraising profiles and invite their connections to offer funding in exchange for discounts or potential returns. In business since 2008, the company aims to address a $40 billion funding gap. 40Billion.com, Inc. is headquartered in Atlanta, GA.

40Billion.com Small Business Funding to Explode to over $100 Million in 2011

40Billion.com continues to grow rapidly by incorporating online social networking to raise money for business ventures. New features have boosted entrepreneurial fundraising activity to over $30 Million, which is expected to triple to $100 Million this year.

40Billion.com, an online micro-funding and social networking platform for entrepreneurs and business professionals, is growing rapidly by incorporating online social networking to help raise money for small businesses and startup ideas. 40Billion.com logoNew fundraising tools and social networking features have boosted entrepreneurial fundraising activity to over $30 Million, which is expected to triple to over $100 Million in 2011.

Many businesses get started with financing from the entrepreneur’s friends and family, but it is often difficult to manage these relationships. 40Billion.com allows many people to donate or lend small amounts of money and spread the risk. Furthermore, the service provides its own unique rating mechanism, called Social Business Rating System (or SBRS), as well as communication tools to increase transparency between the entrepreneur and investors.

To request funding, an entrepreneur uses 40Billion.com to start a fundraising profile, known as a Raise, and invites their friends, family and others in their social network to invest and contribute towards the funding target. 40Billion.com makes it easier for entrepreneurs to share their business ideas with friends and relatives, who may want to invest or otherwise support ventures, and it offers easy ways to formalize and track funding agreements such as direct loans and commercial paper.
 
“We’ve facilitated over $30 Million in Raises, and we’re seeing a huge increase in demand, where more entrepreneurs are using our online micro-funding platform to get business loans and other types of financing because their communities and networks of friends and relatives will believe in them when banks will not,” said Cornelius Colin McNab, founder and chief executive at 40Billion.com. “Tough economic times have led to a credit crunch, where banks have tightened up, and this has increased the funding gap and made things worse for entrepreneurs chasing the American dream. 40Billion offers new and innovative alternatives to gain access to affordable financing through the power of the Internet. Our goal is to help all those hardworking entrepreneurs that have good ideas but don’t have the money or resources to get started.”

40Billion.com predicts that adoption of online crowdfunding, small-business microfinance, and professional social networking services by mainstream users will catapult its growth to over $100 Million in fundraising activity by the end of 2011.

About 40Billion.com

40Billion.com is the social funding network for small businesses and startup entrepreneurs. 40Billion.com, Inc. is the first Internet-based microfinance company serving American small businesses. 40Billion.com’s scalable platform helps entrepreneurs raise funding more affordably through friends and family than through banks or other traditional financial institutions. Using proprietary online tools, entrepreneurs build social networks – including friends, relatives, colleagues, customers, and other contacts – and use these connections to raise capital through small business loans and gifts. Entrepreneurs create fundraising profiles and invite their connections to offer funding in exchange for discounts or potential returns. In business since 2008, the company aims to address a $40 billion funding gap. 40Billion.com, Inc. is headquartered in Atlanta, GA. For more information, go to http://www.40billion.com on the Web.

 

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