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.
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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