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• Advise

  What advice do you have to help me grow my idea?
       (4 pieces of advice)

   

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  by premal_shah 

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  04.17.08 | 01:09 AM

  Great idea, and it looks like you've already had folks provide some great advice! I'd chime in by suggesting the following:
  1) Make sure you have a wiki or other online resource to keep track of the shared resources
  2) Have the different members share their goals with the team, both realistic as well as "reach" goals, so that each meeting they are held accountable by the rest of the group
  3) Consider starting first with the group and then adding the loan component later. If you can get the group motivated and organized, adding money will help things move forward; starting with money, however, might be a distraction.
  Good luck!

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  by bdavidson 

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  04.14.08 | 11:26 AM

  Great idea! Some sources that might be able to provide you with assistance or models for your program that I am familiar with are:
  
  1) MN Small Business Development Centers http://www.mnsbdc.com/
  2) Kauffman Foundation http://www.kauffman.org/
  3) Mountain BizWorks http://www.mountainbizworks.org/index.php
  4) SBA Microloan Program http://www.sba.gov/services/financialassistance/sbaloantopics/microloans/index.html
  5) Small Business Microloan programs http://www.small-business-loans-grants.com/microloan-programs.html
  6) NCREAL www.ncreal.org
  7) SCORE www.score.org
  8) Self-help http://selfhelp.org/
  
  Depending upon whether you set this up as a non-profit or for-profit venture you may be able to obtain grants to help cover your operating costs and also to provide loan funds.
  
  Good luck!

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  by SianMuir 

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  04.09.08 | 06:21 PM

  Given that this is what I do for my 'real job' I think it is a wonderful idea! Some issues for you to consider are:
  1. What do you do if someone drops out? Do they have to pay back the loan? If so, how are you going to enforce that?
  2. Who is going to provide the education aspects of the program?
  3. Will you have a selection criteria? What sort of businesses?
  4. Is this a non-profit business or are you wanting to make money from providing this service? If so, how do you plan to do that?
  
  Sounds like fun -- have a ball doing it! I know I do!

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  by maremare 

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  02.10.08 | 08:27 PM

  Excellent idea! We need more of this type of thinking in the world. We need to empower and help others to realize their dreams and full potential in life. I am proud to say that I am Ashley's mom. Love you Ash! Way to get your groove on Nancy! You are a great example of what an influential mentor should be. What a great experience for Ashley and all the students to have you as a professor, mover, shaker, believer, dreamer and beyond!!!

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