My Vision
What if people were to pool resources to create an environment to foster entrepreneurship, be it in art, science or industry?
The notion of company shares embodies that spirit, but it is applicable only to established companies in practice.
How could one translate that model to the funding of a startup?
Let's share ideas about what we can do to finance ventures and make them successful.
Can subscription to a community generate enough money to fund startups? Can it also provide value beyond funding?
What services necessary to start and run a business could be provided more easily if new enterprises were to band together?
The dream I have is to harness the power of multitudes of people in order to create an environment where entrepreneurship knows no bounds. The support, network and infrastructure created by people who believe in ventures can generate a positive environment where each individual lives and breathes entrepreneurship.
The notion of company shares embodies that spirit, but it is applicable only to established companies in practice.
How could one translate that model to the funding of a startup?
Let's share ideas about what we can do to finance ventures and make them successful.
Can subscription to a community generate enough money to fund startups? Can it also provide value beyond funding?
What services necessary to start and run a business could be provided more easily if new enterprises were to band together?
The dream I have is to harness the power of multitudes of people in order to create an environment where entrepreneurship knows no bounds. The support, network and infrastructure created by people who believe in ventures can generate a positive environment where each individual lives and breathes entrepreneurship.
3 Comments:
I think that, for this to work, it will have to exist in a spirit of collaboration and participation. If it feels like a lottery, then I don't think people will want to join.
For example, we discussed a few weeks ago that the organization could run as non-profit, except that this may be a difficult barrier because of the legal work involved. Perhaps you could invite lawyers specializing in non-profit work to "donate" this work in exchange for recognition on the site.
After all, start ups need legal help and how do they choose an attorney? Maybe they would be likely to choose someone who donates their time to help small business non-profits.
Perhaps a web developer would donate the web site development in exchange for recognition on the site.
I don't think that the organization you are suggesting can expect this kind of donated participation if it is a "for profit" organization with highly paid officers, but if the entire thing is based on a spirit of community, it might work.
Getting a wide variety of professionals that to participate in organization itself suggests that any small startup should be able to participate, not just those in the tech industries.
I most certainly agree with you Adam, it can not be a lottery system. I had been contemplating voting on business ideas by the members. That too has its disadvantages. Somehow any means of grants have to encompass merits of the business plan along with the merits of the teams. For sure it can not be a system of lottery. Startup Cents most certainly is meant for the community and by the community. What I am looking to create is a truly supportive system for the entrepreneurs where Startup Cents can provide true value.
The question I am faced with is - Is trust built only if the company is Not For Profit or can transparency serve the same purpose?
I am meeting a few people who are working in the non-profit organizations to discuss the merits and challenges of the Not For Profit structure. I do agree that one could find volunteer lawyers willing to contribute in various ways (including establishing a Not For Profit corporation) and most certainly we will need lots of volunteer help to make Startup Cents successful.
As for the officers getting fat salaries –
I have my doubts about this one and partially based on my ignorance –
What I have to find out is if salaries of all employees in a Not for Profit organization are capped?
I would like to see the top notch professionals be a part of the company – I would not want them to be hesitating because of salaries, it does not mean we should hand out atrocious salaries to people. We should test their commitment to the cause by providing them a little bit less than they would make in the industry but not so little that they would not consider working for the organization/company. The company should not be geared towards generating profit for it board/shareholders but should pay fair compensation to those who help make it successful. Is that value determined by the market or the members of the organization?
I believe that the salary paid out to the professional has to be transparent so that members of the community can both challenge it and or comment on its worth. I am all for full disclosure. That I believe is another way to gain trust.
So I am doing my homework finding out both the reporting/accounting challenges for Not For Profit and their limitations on salaries for professionals.
As for diversity of people in the organization-
I am visualizing Startup Cents as a highly diverse organization. I believe the more diverse the organization the more benefits the group reaps. Startup Cents can facilitate the teaming up of people intending to set up different kinds of services adding the value to its members. Can it be any kind of business though? I think not.
Intel has an interesting take on providing visibility to software projects.
Steve Cooper has posted SiteSig there.
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