Small Business Guru Announces the launch of the Bootstrap Experiment.
Everyone dreams of owning their own business. We all have ideas that we’d love to try out, but many of us just don’t have the background or expertise it takes to launch a successful business.
I want to help one would-be entrepreneur launch their business. I want to help you build a recurring revenue base of $60k-$100k a year so you can have the financial independence you’ve always dreamed of.
Here’s how it works:
You provide the idea, the hard work, and $200 that you can invest in seed money for YOUR business.
I’ll MATCH that $200 and provide you with free coaching for the first year of your business’ launch. (That’s over $15,000 worth of free coaching services).
I’ll work WITH you for 1-2 hours a week. Together we’ll create your business plan, set goals, and determine next actions for you to take.
Throughout the week you’ll work on implementing the plan as we’ve agreed. As questions come up, you’ll be able to email me for feedback and guidance along the way.
Ok… so, what’s the catch?
Make no mistakes. This will be YOUR business.
I don’t want a percentage ownership. I don’t want a commission. I don’t want a fee.
I just want to see you succeed.
All I ask is that you let me share your story each week through the Small Business Guru Web site. We’ll put out monthly progress reports which will include details about revenue. We’ll discuss what goals we’ve set, projects we’re working on, and what actions we’re taking each step of the way.
Good for you in that you’ll get exposure for your business, however you will have to be a bit more transparent than perhaps your used to.
We won’t share business secrets. However we will share our business strategy and tactics as well as the results of each of the projects we undertake.
Think of it as a mix between NBC’s show ‘The Biggest Loser’ and HBO’s “Project Green Light”.
We may succeed. We may fail. But we’ll have rolled the dice together.
In the end, my hope is other budding entrepreneurs will follow along and learn as we learn.
Ready to throw your hat in the ring?
Simply send an email to kelly.brown@small-business-guru.com.
In your email, include answers to the following questions:
- What’s your business idea?
- Who will be your customers and where will you find them?
- Who would be some competitors?
- Why do you want to own your own business?
- What’s your background and business experience?
What I’m looking for?
Beyond a killer business idea, I’m looking for someone who’s ready to put in the hard work it will take to launch a business. You have to be smart, have a lot of energy, and be willing to take advice from someone who’s been there before (me).
There will be plenty of homework. So the winning applicant must be able to devote 10-20 hours a week in getting their business started.
*Bonus points will be given for anyone how sends me a picture, a video, anything that will help me learn who you are and get a feel for your personality. We’re going to be working together closely for a year, so we better like one another. I like working hard, but I want the work to be fun.
I’m sorry, just for logistical reasons, I’m only accepting applicants based in the U.S.
All submissions must be received by March 28, 2008.
The Winner will be announced April 7, 2008.
A Note About Confidentiality
A sample Non-Disclosure Agreement is provided below. This is for reference only but is a copy of the version we will be using. This is a one-way NDA in which it is intended for your protection.
I’ll be using EchoSign to manage contract signatures. Applicants, should email me in advance of sending their business idea. I’ll send you signed NDA, you sign it, fax it back, and then we both will get a signed copies emailed to us from EchoSign.
Please note, the winning applicant will be asked to sign a waiver allowing me to share certain information via the Small Business Guru Web site. This will include monthly revenue reports, progress updates, and details of our strategic approach with building your business. I won’t disclose your business secrets — aka ‘the secret sauce’ of your business ideas. But again, the idea is to document your progress in becoming an entrepreneur.
photo credit: thinkpublic
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How do we protect the ideas that we send into the contest?
@ Sam - GREAT question. I’ll provide a signed NDA that you can download, fill out and fax / scan back to me before submitting your idea. I will have this up Monday.
Hi Kelly,
What a great idea… I’m interested. Where is the NDA located? or do I email and ask for it?
Ann Rusnak
“The Time Diva”
Ann Rusnak - The Time Diva’s last blog post..Time Management: 4 Biggest Time Management Obstacles
@ Sam
@ Ann
I’ve just updated the post to include information on the non-disclosure agreement. Please let me know if you have additional questions.
Hi Kelly -
Would you be willing to consider an applicant who has just started a business and is trying to take steps towards the next level?
Filipina,
Sure - I think that’s well within the spirit of the challenge.
Hi Kelly - this sounds like an interesting experiment. This would be $100k turnover right - not profit?
It will be interesting to watch. My only concern is, if they’re starting with next to nothing, will it attract applicants who are just going to be doing it part-time? That will make it far harder to achieve those results.
Cath Lawson’s last blog post..Business Success Is Only A Deathbed Away
Hi Catherine,
I expect a number of the applicants will be trying to transition from a full time position to owning their own business. That’s part of the challenge & fun.
Optimally, if someone can be available to do this full time, that will be best. But, I’m not going to encourage anyone to quit their day job just yet.
The goal is to build up to $60k-100k in recurring revenue in the first year. It’s the launch point for a business to have a foothold in the marketplace and start providing a decent living for the owner.
The goal isn’t to it $100k in revenue in the first year. The goal is to get to a point where the business is bringing in $12k a month in revenue by the 12th month, if that makes sense.
Dear Kelly, this looks great!! Is there now way you might bend on the USA only rule? We can always use skype… If not, might I be able to hire you for a fee? I am super keen to be involved in a project like this but am really battling to find trustworthy people to help me on my way.
Thanks,
Al
Ok. So I have a site called MyTubeStop dot com. It offers people living in London the opportunity to buy, sell, rent or exchange goods/properties by using Tube lines and Tube stops to locate stuff near them. i.e, joe sells a tv and live on the Northern line, Billy lives on the Northern line and searches for TV’s, bingo!
With zero investment available and a desire to have this up and running in a month properly, do you think your offer will cover this?
Regards
Lee