How to Finish Your Business Plan in 1 Day

To help you finish your business plan faster, 40Billion has partnered with Growthink to give you a 25% discount on “The Ultimate Business Plan Template”!

Click Here to Learn More And Save 25%

The Ultimate Business Plan Template was created by Dave Lavinsky, co-founder and president of Growthink, a leading business planning company. Since 1999, Growthink has developed business plans for thousands of clients, and the firm’s clients have raised more than $1 Billion.

By using this proven template, you’ll not only raise money faster… you’ll save tons of time.  It takes the average entrepreneur 100+ hours to create a business plan from scratch. But if you download this template today, you can be printing out your business plan tomorrow.

 Hurry, this exclusive discount ends soon…

 Click Here to Learn More And Save 25%

Ultimate Business Plan Template

Who Really Invented the Lightbulb? Really?

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.

Is the “American dream” dead?

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!

40Billion.com logo

5 tips for approaching friends and family about your business

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.

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.

 

40Billion.com Extends Commercial Paper Short-Term Loan Product to Small and Medium Business Entrepreneurs

Enables existing Small and Medium Businesses to raise up to $1 million in short-term loans for 9 months using social networking

40Billion.com, an online micro-funding and social networking platform for entrepreneurs and business professionals, today announced new short-term loan options that enable small- and medium-sized businesses to raise up to $1 million in commercial paper for up to 9 months.

Commercial paper is an unsecured promissory note to meet the short-term financing and cash flow needs of businesses and can be a more affordable alternative to a traditional bank line-of-credit. Most commonly used by large corporations to raise quick and low-cost working capital, commercial paper has been in existence for over a century.

This reputable financing option is now available to small- and medium-sized businesses seeking to borrow $5,000 to $1,000,000 for up to 270 days, as well as investors seeking to diversify their investments and potentially earn a quick return while supporting U.S. small and medium businesses.

 “Our short-term loan option using commercial paper offers a revolutionary solution to the problems faced by millions of existing small- and mid-sized business entrepreneurs trying to find affordable working capital,” said Harendra Jani, VP of strategy and planning at 40Billion.com.

According to Jani, there are several advantages over traditional bank loans: “It is unsecured and does not create any lien on the business’ assets; the discount rate is negotiated between the entrepreneurs and investors online, so ventures with high SBRS scores or good relationships may get better rates; the wide range of maturity, from 15 days to 270 days, offers a lot of flexibility; and, it can be used frequently for a variety of short-term cash needs such as payroll, inventory, and marketing.”

Since 2008, the company has facilitated over $30 million in business fundraising projects and aims to address a $40 billion funding gap with innovative small-business financing tools enhanced by the power of online social networking.

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. 40Billion.com, Inc. is headquartered in Atlanta, GA.

 

40Billion.com Lets Small Businesses Turn LinkedIn And Facebook Social Networks Into Funding Networks

Online social networking and finance tools help entrepreneurs share business plans, raise money, and launch businesses with friends and contacts

40Billion.com, an online micro-funding and social networking platform for entrepreneurs and business professionals, has announced new integrated social networking tools that enable members to use their existing LinkedIn or Facebook accounts to help raise money for small businesses.

Using the Internet service, visitors connected by existing social networks – such as friends, relatives, co-workers, classmates, and other contacts – can sign up and sign in quickly and easily with their existing LinkedIn or Facebook accounts. The user simply clicks the “Sign in with LinkedIn” or “Sign in with Facebook” button and then enters their email address and password. 40Billion.com instantly logs in and automatically creates the user’s profile, including photo, summary, education, interests, honors, or other relevant information.

“Social networking sites are extremely popular with 90 million users on LinkedIn and 500 million users on Facebook, and many of the people using those sites for professional and personal social networking could use 40Billion also to raise money and grow businesses by leveraging their existing social networks,” said Cornelius McNab, 40Billion’s founder and chief executive.

“That’s why we’ve made it easy to log in on 40Billion with the same email address and password you use on those other sites. Your profile is automatically updated with relevant information about you, and you can invite your contacts from those other sites to join your network on 40Billion. This saves a lot of time and lowers the hurdle for entrepreneurs, investors, and friends who want to help build businesses, realize the American dream, and grow the economy.”

After signing in, each member can add people to their network easily by finding other members they know on 40Billion.com, inviting friends to join, importing their existing contacts from an email program (e.g., Gmail, Yahoo Mail, AOL, or Outlook) or from a social networking site (e.g., LinkedIn or Facebook), and sharing their profile on their LinkedIn or Facebook page. Furthermore, the service automatically suggests new contacts that the member may know.

Members use their profiles and contacts on 40Billion.com to help raise funding for a business, support businesses seeking funding and resources, and acquire new customers.

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. Since 2008, the company has facilitated over $30 million in Raises and aims to address a $40 billion funding gap. 40Billion.com, Inc. is headquartered in Atlanta, GA.

40Billion.com Creates Social Business Rating System as Alternative to Credit Scores

SBRS score offers businesses and investors an alternative to personal credit scores when evaluating funding and loan requests

Atlanta, GA, January 24, 2011 – 40Billion.com, a micro-funding platform that facilitates business capital fundraising through gifts and loans from an entrepreneur’s network of friends and family online, recently announced the launch of the Social Business Rating System, a novel approach to rating businesses based on social and financial criteria other than personal credit scores.

The Social Business Rating System (SBRS), is a proprietary system developed exclusively by 40Billion.com to rate businesses based on criteria that really matter for success, rather than traditional credit scores. A unique SBRS score is generated for each business venture’s fundraising profile, and the score is based on 17 or more criteria, including business-related success measures, entrepreneurial profile, peer ratings, and reviews.

The SBRS score helps investors and entrepreneurs to compare business ventures and assess their potential likelihood of success. The highest possible SBRS score is 850, and scores are updated weekly.

“Banks typically use personal credit scores to determine whether or not to lend money to a small business, and most startup ventures don’t qualify for bank loans. This is very unfair,” says Harendra Jani, Vice President of Finance at 40Billion.com.

“SBRS is an innovative system that differs significantly from FICO, which relies on numerical figures based on personal credit history. SBRS evaluates business success measures and takes social factors into account, so it’s a great alternative or supplement to personal credit history when rating businesses and assessing risk. The SBRS score helps investors assess the credit worthiness of the entrepreneur’s venture, and it provides an incentive for entrepreneurs to improve upon these success criteria in order to increase their scores and potentially raise more funding at more affordable rates.”

The company has generated SBRS scores for thousands of small businesses and facilitated over $30 million in business fundraising projects since 2008. It aims to address a $40 billion gap in small business and startup funding by providing an online platform for social funding so that more entrepreneurs can have access to affordable business financing, realize the American dream, and help grow the economy.

About 40Billion.com
40Billion.com is the first micro-funding platform that facilitates American small business capital fundraising through gifts and loans from an entrepreneur’s network of friends and family online. 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. 40Billion.com, Inc. is headquartered in Atlanta, GA. For more information, visit http://www.40Billion.com.

 

40Billion.com Launches Social Network for Student Entrepreneurs and Alumni

Social networking and finance tools to help college students and alumni share ideas, raise money, and start businesses

Atlanta, GA, January 12, 2011 – 40Billion.com, a micro-funding platform that facilitates business capital fundraising through gifts and loans from an entrepreneur’s network of friends and family online, today announced the launch of new social networking tools for students and alumni to raise money for businesses.

Using the free Internet service, college students and alumni can build their social networks of contacts, including classmates and friends from the same school and from different schools, and use these connections to raise money, resources, and support for entrepreneurial ventures. Members create personal profiles that include their education information, such as school name, degree, major, and graduation year. They can add one or multiple schools to their profiles and then invite people they know from each school to join their network. The service even suggests new contacts, automatically, based on their profiles.

“Many of the most innovative and successful businesses are started by college students and alumni, and now 40Billion.com makes it easier to launch a new venture with the support of your school. Whether you’re a Harvard dropout, a college graduate, an undergraduate, or a business school student, this is for you. If you’re starting a business, you have an idea for a new product, you want to help fund the ventures of entrepreneurs from your school, or you want to build your network, then this is for you. You probably already know someone using it,” said Cornelius McNab, founder of 40Billion.com and graduate of Yale University and MIT Sloan business school.

The company has facilitated over $30 million in business fundraising projects since 2008. It aims to address a $40 billion gap in small business and startup funding by providing an online platform for social funding so that more entrepreneurs can have access to affordable business financing, realize the American dream, and help grow the economy.

About 40Billion.com
40Billion.com is the first micro-funding platform that facilitates American small business capital fundraising through gifts and loans from an entrepreneur’s network of friends and family online. 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. 40Billion.com, Inc. is headquartered in Atlanta, GA. For more information, visit http://www.40Billion.com.

 

40billion.com Introduces Commercial Paper Offering



Additional social network funding option to help entrepreneurs create their own American dream

Nov 29, 2010 – Atlanta, GA, November 29, 2010—40Billion.com (http://www.40billion.com), a micro-funding platform that facilitates business capital fundraising through gifts and loans from an entrepreneur’s network of friends and family online, today announced the addition of an innovative Commercial Paper offering.

Commercial Paper is an unsecured Promissory Note to meet short-term liquidity needs. It is a lower cost alternative to a traditional bank line-of-credit (LOC).  Commercial Paper, which has been in existence for over 100 years, is used commonly by large corporations to raise quick and low cost working capital. 40Billion.com is pleased to be able to offer this reputable financing option to small- and mid-sized businesses seeking to borrow $5,000 to $1,000,000 for up to 270 days.

“We see this as a true ‘win-win’ situation for both investors and borrowers,” said Harendra Jani, vice-president of finance, 40Billion.com.  “If you asked entrepreneurs to name the most difficult obstacle to overcome when launching their business, the most common answer is likely to be access to low cost capital.  Providing a venue to access low cost capital has been 40Billion.com’s mission since day one, and the addition of Commercial Paper speaks directly to that mission.”

40Billion.com aims to address a $40 Billion gap in small business and startup funding by providing an online platform for social funding so that more entrepreneurs can have access to affordable business financing through gifts and loans.

40Billion.com helps entrepreneurs:

  • Gain access to needed funding to start and grow their business, with more funding options, and at rates that are lower and more affordable than most alternatives.
  • Formalize the terms of funding in order to reduce the risk of ruining relationships with friends-and-family funders, while building a network and reputation that they can utilize for future funding needs.
  • Take advantage of unique features that are created specifically for entrepreneurs that need to raise money.
  • Find trusted resources and services for their business, such as incorporation or company formation.
  • Acquire customers by offering services to other members on 40Billion.com.

“One of the many effects of the volatile credit market environment of the past few years is severely decreased access to affordable sources of business credit,” said Cornelius McNab, founder and CEO, 40Billion.com. “No segment has been affected more by this than entrepreneurs trying to live out their own version of the American dream.  Today’s entrepreneurs are tomorrow’s employers.  Providing access to capital for entrepreneurs will undoubtedly lead to job creation in the future, and 40Billion.com is proud to play a role in that process.”

About 40Billion.com
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. 40Billion.com, Inc. is headquartered in Atlanta, GA. For more information, visit http://www.40Billion.com.

Introducing the Social Business Rating System, a.k.a. SBRS score, for small businesses and startups!

You may have noticed that there is now a unique score given to each Raise (business fundraising profile) on 40billion.com. This is the SBRS score, where SBRS stands for Social Business Rating System™. It is a proprietary system developed exclusively by 40billion.com to rate businesses based on criteria that really matter for success, not traditional credit scores.

SBRS generates a score for each Raise based on 17 or more criteria, including business-related success measures, entrepreneur profile, peer ratings, and reviews. It is a novel approach to rating businesses that does not exist anywhere else.

The SBRS score helps funders and entrepreneurs to compare business ventures and assess their potential likelihood of success. 850 is the highest possible SBRS score, and scores are updated weekly (not monthly like traditional credit scores).

What can entrepreneurs, small businesses, and startups do to increase their SBRS scores? Start by editing and updating your Raise, editing and updating your personal profile, and increasing your fundraising and social networking activity on the site.

Here are just a few things that may influence your business’ SBRS score and which you can control:

  • % of Raise profile completed — when starting a Raise, be sure to fill in the profile completely and honestly.
  • % of personal profile completed — be sure to fill in your personal profile completely and honestly.
  • # of recommendations received
  • Amount of funding raised
  • # of connections in your social network
  • # of invitations sent to people you know
  • # of followers — i.e., people following your Raise
  • # of Raises you’ve started or participated in
  • # of company updates added to your Raise

So, what is your SBRS score? If it’s currently below 550, then we believe you’ve got some work to do in order to increase your likelihood of success! Start with the tips above, and your SBRS score will grow along with your business over time.

Use our Startup Guides to get your business up-and-running fast

Now you can access our five Startup Guides, and you can download the MP3 audio files and the quick-start templates to help get your business going fast.

Visit http://www.40billion.com/startupguides/ to get these quick and easy Startup Guides today.

In these Startup Guides, you’ll discover useful tips for:

  • Funding your business in 4 ways
  • Writing a business plan in 13 easy steps
  • Forming a company or incorporating
  • Managing your cash flow… so you don’t run out of money
  • Protecting your ideas and intellectual property

Go to http://www.40billion.com/startupguides/, or just click “Startup Guides” from the home page of 40billion.com!

5 tips for approaching friends and family about your business

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.

New business startup guides and templates to get up and running fast

Guess what? We just posted five new audio guides to startup success, and you can download the MP3’s here and listen to them in your iPod, on your computer, or just about anywhere:

http://www.40billion.com/startupguides/

In these quick startup guides, you’ll discover useful tips for:

*  Funding your business through friends & family, angels, banks, and VC’s

*  Writing a business plan in 13 easy steps

*  Forming a company as a sole proprietorship, partnership, LLC, or corporation

*  Managing cash flow so you don’t run out of money

*  Protecting your ideas and intellectual property through patents, trademarks, copyrights, and NDA’s

The first startup success guide is free for you and each additional guide is only $0.99 here:

http://www.40billion.com/startupguides/

%d bloggers like this: