Introducing the Social Business Rating System, a.k.a. SBRS score, for small businesses and startups!
August 20, 2010 1 Comment
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.
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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