Do you have a great idea for a business venture?
I have been all over the country and talked with a lot of people about their dreams and it usually involves quitting their job and opening a business of their own.
What is stopping most of us?
Well personally I cannot afford to quit my job. Any good business plan involves, at the very least, 6 month of working capital.
When you only make enough money to pay your bills and support your family how can you save enough money to invest?
I did the math for myself and I figured that I make an extra $300 per month. That is leftover money after rent, car, gas, electricity, food, health insurance, car insurance, and every other little necessity.
At this rate it would take me 27.7 years of saving every extra penny I make. This is even assuming my kids don’t need braces (which one does already) or they never ask for birthday and Christmas presents (which they do).
I will be an old man by the time I save enough money!
This is the same problem most people have when it comes to starting a business. Not only do you need money to invest in the business but you also need money to live on for the next year until your profitable.
Well what about business loans?
Sure you can go that route assuming you have excellent credit, some money of your own to invest, a very solid business plan (which is a good idea to have anyway), and don’t forget you will still need money to survive on for the next 6 months to a year.
You had better hope that your business idea works out because you will still have to pay that money back with interest.
There are some crowdfunding sites out there. What about those?
This would be okay assuming you have an idea for a product. You will also need
some luck a lot of luck, getting noticed in the crowd.
You can forget about crowdfunding if your business idea is service oriented.
Still not looking so good!
What about this idea here?
Get one dollar from a whole bunch of people.
I waste a buck all the time so it wouldn’t make a difference to me if I give someone a dollar for the chance to start their own business.
If they don’t succeed then no big deal to me. It only meant that I had to buy a small coffee rather than a large coffee that day.
What if their business does succeed. I would feel great knowing that I helped someone achieve their dream. Especially if it only cost me a buck.
So here is my idea for a new type of crowdfunding site.
First of all there is now crowd to fund. Just one individual at a time.
This one individual will get a chance to raise $100k. That should be plenty of money for working capital and living expenses.
After this one individual is funded then they will choose the next individual to be funded. To keep it fair the previous recipients will have to approve their choice.
Here’s the last catch… If you get funded on wwadd.com and your business is successful, you pledge 10% of your quarterly profits back to the next recipient on this site.
That’s all. It’s pretty cut and dry actually.
Click here to donate a dollar or two or three, whatever your comfortable with.
You do NOT have to donate in order to be considered for the recipient position.
My name is Jeremy Johann and I am the founder of whatwouldadollardo.com and I would also like to be the first recipient.
Once I raise $100k I will pass the torch off to someone else to be funded.
I will use the money I received for: a storefront, inventory, living expenses, and all other expenses associated with starting and running a business.
I will devote a small chunk of change to the IRS and a lawyer so I can get this organization to non-profit status and we can all write our donations off.
Unlike other crowdfunding sites, I will never take a salary or a percentage of donations.
Hopefully, with your donations, I will be starting a successful business so I can pledge my 10% profits back to wwadd.com.
Think about this….
If we create a bunch of successful business owners on this site and they are all giving 10% of their profits back. How fast do you think we can create more new business owners?
Every month, every week, how about every day.
Please help this project out people.
This site uses PayPal so your money is completely safe.