40Billion.com just hit $100,000,000 in raises!!!
November 26, 2012 Leave a comment
We just hit $100,000,000 in raises!!! Congratulations to all of our entrepreneurs who’ve raised money on 40Billion.
40Billion Announces STARTUP SUPERSTAR Business Plan Competition
July 18, 2012 1 Comment
40Billion.com plans to launch ‘American Idol’ of business plan competitions to create jobs
ATLANTA, Georgia – July 18, 2012 — Small business crowdfunding pioneer 40Billion.com (http://www.40billion.com), the leading professional crowdfunding and social networking platform, announced today that they are planning to launch Startup Superstar (http://www.startupsuperstar.com), a novel business plan competition that will help create jobs by supporting budding U.S. entrepreneurs.
“Startup Superstar is all about keeping the American Dream alive by helping small-business entrepreneurs access funding and resources, promoting new ideas, starting new companies, and building social networks for entrepreneurship and innovation,” stated Cornelius McNab, founder of 40Billion.com. “By helping aspiring entrepreneurs, we all will be winners in creating new jobs that our economy needs so desperately.”
The competition will feature from $25,000 to $100,000 in total prizes, funded by individual contributors and corporate sponsors. The more contributions and sponsorships that the company raises, the more prizes and winners there will be. Winners will be selected by a ‘crowd’ of judges made up of fans, investors, and sponsors.
Anyone can sponsor the competition and offer their support to aspiring entrepreneurs by going to either 40Billion ( http://www.40billion.com ) or Indiegogo ( http://www.indiegogo.com ) and searching for ‘Startup Superstar’ to see the sponsorship page. The company is offering rewards to both individual contributors and corporate sponsors. Individuals can make an online contribution of $25 or more and receive social media kudos or an exclusive ‘I am the American Dream’ T-shirt featuring the Startup Superstar logo. Corporate sponsorship levels start at $5,000 and offer coveted advertising packages and up to 500 votes for guest judges.
About 40Billion.com
With over $70 million in raises facilitated so far, 40Billion.com is the social funding network for small businesses and startup entrepreneurs. 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, visit http://www.40Billion.com.
40Billion Crowdfunding Site Turns 4 and Gets a Facelift
July 5, 2012 1 Comment
40Billion.com launches redesigned website for small businesses to raise money
ATLANTA, Georgia – July 4, 2012 — Small business crowdfunding pioneer 40Billion.com (http://www.40billion.com), the leading professional social funding platform, announces the 4th successful year in business and launches redesigned and improved site. As a pioneering small business funding network, 40Billion marches ahead vigorously to help small businesses find needed funding sources to start and prosper in their ventures.
As a part of continuing efforts to promote the cause of small business funding and provide state-of-the-art tools for a small business to raise capital, the 40Billion just completed major improvements of the site to improve overall user experience. “Significant changes have been made to all products and services offered on the 40Billion site to make the experience a very smooth one,” stated Harendra Jani, Vice President of Strategy at 40Billion.com. “Our new site provides very easy access to all of our products and services, namely raising money, building social networks of contacts, funding a small business, and finding resources to help your business grow. Whatever you are looking for to start or expand a business, it is available at your fingertips.” 40Billion.com facilitates crowdfunding, in which entrepreneurs use the Internet to raise money from a large number of investors and funders. It allows small businesses to use Internet services like 40Billion.com to raise up to $1,000,000 in funding from lots of everyday people, including social networks of friends, family, peers, and others.
With 40Billion, users launch business fundraising projects online via the Web. It then enables users to route the projects to people in their social network – friends, family, and other contacts – most likely to fund that project, either through gifts, donations, private direct loans, or commercial paper (i.e., short-term loans up to $1 million for 270 days or less). The platform does not facilitate equity investments or sales of company stock at this time; however, with the recent enactment of the JOBS Act, equity-based crowdfunding will be available online in early 2013. Regardless of funding type, the mission remains the same: Help entrepreneurs use their Internet social networks to raise more funding quickly, easily, and affordably so that they can start and grow successful businesses. Starting and growing successful small businesses spurs job growth and economic growth.
With over $70 million in raises facilitated so far, 40Billion.com is seeking partnerships and strategic investors to promote growth and provide additional services that would benefit its users. Interested parties are invited to contact the company.
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, visit http://www.40Billion.com.
5 tips for approaching friends and family about your business
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.
What is the #1 cause of business failure?
May 30, 2012 Leave a comment
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?
40Billion.com Drives Crowdfunding Law for Small Businesses to Raise Money
April 8, 2012 Leave a comment
President Obama signs JOBS Act making it easier for startup entrepreneurs to raise capital
ATLANTA, Georgia – April 9, 2012 — Small business crowdfunding pioneer 40Billion.com (http://www.40billion.com), the leading professional social funding platform, has helped drive several provisions in the new JOBS Act recently signed by President Obama and passed by the U.S. Congress. Now, startup entrepreneurs and small businesses can seek out everyday investors and advertise their fundraises and offerings publicly over the Internet.
Part of the JOBS Act facilitates crowdfunding, in which entrepreneurs use the Internet to raise money from a large number of investors and funders. The legislation allows small businesses to use Internet services like 40Billion.com to raise up to $1,000,000 in funding from lots of everyday people, including social networks of friends, family, peers, and others.
“We’re excited about the recent news of the passing of the JOBS Act and what it means for our nascent industry and for aspiring business owners across the country who want to do their part to boost the economy while realizing their American dream,” said Cornelius McNab, founder of 40Billion.com. “When I dreamed up 40Billion back in early 2008, so many folks were skeptical that a social funding network for business startups over the Internet would ever work. Just four years later, we’ve made skeptics into believers. Crowdfunding has become an industry, and we’ve worked with the federal government to help create new laws that revolutionize how small businesses raise money.”
Before the advent and widespread acceptance of Internet social networking tools, it was nearly impossible for entrepreneurs to tap into micro-funding sources cost-effectively. 40Billion.com applies state-of-the-art online tools to enable businesses to build social networks of friends and family members that facilitate raising capital.
With 40Billion.com, users launch business fundraising projects online via the Web. It then enables users to route the projects to people in their social network – friends, family, and other contacts – most likely to fund that project, either through gifts, donations, private direct loans, or commercial paper (short-term loans up to $1 million for 270 days or less). The platform does not facilitate equity investments or sales of company stock at this time.
According to Harendra Jani, VP of Strategy and Planning at 40Billion.com, “Business crowdfunding has been legitimized by a grassroots effort that culminated in the passing of the JOBS Act to help U.S. small businesses and entrepreneurs. This movement will help close the $40 billion funding gap.”
Raising funds from one’s friends, family, and peers can be a daunting challenge as an entrepreneur raising capital for a startup business, and there are many questions. Whom should you contact to request funding? How do you facilitate multiple fundraising requests and manage multiple funders (i.e., those who provide funds, such as investors, donors, and lenders) in a structured and scalable way? How do you give potential funders peace-of-mind and increase their trust so that they are more willing to provide you the money you need? How do you reward funders when their motivation is not purely a financial one? How do you find business resources after you raise money?
“Do you know how it seems really hard for entrepreneurs to raise funding? What 40Billion.com does is lets entrepreneurs use their Internet social networks to raise more funding quickly, easily, and affordably so they can start and grow successful businesses. It’s friends-and-family funding on steroids,” said McNab.
With over $60,000,000 in Raises facilitated so far, 40Billion.com is seeking partnerships and strategic investors to promote growth and provide additional services that would benefit its users. Interested parties are invited to contact the company.
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, visit http://www.40Billion.com.
Is the “American dream” dead?
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!
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