Saturday, September 27, 2014

The 100 Dollar Challenge!

$100 Challenge!

I am going to tell you about something very crazy it is called the $100 challenge! The premise of this challenge is to unleash the hidden Entrepreneur within. So what is this challenge? The challenge ("if you choose to accept it") is this:

The Challenge: The challenge is to raise $20 in funds to start  a business providing some sort of goods or services. With that initial $20 you must pay back those you borrowed it from (unless you were creative and figured out a way to raise it without going into debt) and then you must try to make at LEAST $100 from $20. All profits you make you then must donate to Kiva. Kiva is a non-profit that helps entrepreneurs all around the money in a pay-it-forward like experience where you lend money and they pay you back. Check it out through the hyperlink.

Step #1: Raise $20 to start this challenge.

Personal Progress:
 I have mulled over a few different options. I have thought of anything from using a brother-in-law as an investor (his offer was $20 with a 10% annual interest rate) to taking crushed soda cans to the metal yard for spare change. No matter what you choose this is a very important concept to mull over in your business plan because you want to make sure you start off right and can make as much profit as possible. You cannot just GIVE yourself $20. I think that I will try to collect Soda cans and/or raise money by pitching individuals on the challenge and asking for spare change. As much as I love my brother-in-law I am not about to go into debt. If you choose to join me in this challenge add a comment below on how YOU hope to raise your initial $20. Thanks!~ 

Dane's Raised Money: $0.00

If you would like to help me in this challenge let me know in the comments below.

I will be posting each and every step I take in this process. This is an assignment for one of my classes and whoever raised the most funds gets extra credit. I don't care about the extra credit but I do care about being the best entrepreneur. So I say "bring it!"

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