Seven Answers for Entrepreneurs

Seven Answers

We took Fernando's great idea and turned it around a bit. First, we decided to focus it in the US. Then, we decided that one of our core competencies would be mico-lending rather than promotion or marketing for micro-borrowers. Here are our answers to the seven core questions that we will use to form our first straw man:

1. Who is our target audience (hint: Don't try to be all things to all people)
New Orleans Detroit USA recession-specific - Experience qualifies - Laid-off people getting back on their feet.
Investor community in target cities and in DC area.

2. What is the competitive landscape? (hint: Sites that do it well)

Kiva -
Local investment clubs -
Government investment programs -
http://www.spot.us/ - people make micro donations to support the story ($10 a point).

3. How do we differentiate ourselves? (hint: Secret sauce) -
Focusing in the USA
combined investor pool
Mentor - level - Mentor-level people get a "glow factor" return.
Public micro-loan level
Make stronger relationships between lenders and borrowers and mentor, inspect, advise.
Wikinomics - approach to larger group of mentors.

4. How do we create our site? (hint: Staff and schedule)
Paid staff and volunteer force to build organization.
Put together beginning social network
Phase 1 - 2 - 3. Start with simple but effective site and build up as interest grows.

5. How do we get our content? (hint: Pre-built, manual, automatic, updated)
Investors - advice
Static advice and resources and links
User-generated
Reporting from businesses started
Pull in business stories for our niches

6. How do we market our site? (hint: Spread the word)
Audience to the small niche business stories.
Press coverage
Email marketing - Build lists of site visitors
Social Networking - large group of investors post on S/N email friends, get press,
Other volunteers who have marketing expertise.

7. How do we sustain the site? (hint: Show me the $$$)
Non-profit
Go after donors.
Look for a return. Hopefully look for a 10% annual return on all investments.
Membership fee for entrepreneurs.

Quick pitch - The Newspaper of Tomorrow

The fact that people crave local news, even as local newspapers are dying, offers a tremendous media opportunity. Our Newspaper of Tomorrow business plan teams a few experienced and web-savvy journalists with hundreds of people in a locality who are eager to contribute news - and read news. The professionals train and guide, while the residents contribute and read; providing a user base, a market and a source of content filtered by seasoned editors. The business plan leverages low overhead and cheap Internet delivery with proven digital advertising models and lucrative video advertising and advertorial opportunities, along with a premium subscription model that is topped with a weekly magazine.