I’m just launching a new business called TheMillionEntrepreneurs.com. You might have heard about it already. We intend to do three things and have recently added a fourth string to our aspirational bow:
1. We aim to provide support and acceleration for a global tribe of 1,000,000 entrepreneurs through hooking them up with established experts across 12 business disciplines and six personal ones. We have had a bit of a coup in that the very special Michael Neill has recently agreed to be one of our experts.
2. We limit our membership to 1,000,000 paying members at $10 a month and up to 60% of the monthly income is returned to members in a monthly prize draw, a bit like a lottery, including other prizes on top of the cash like books, tickets, mentoring and more. The average prize is a very useful $10,000 each month but the top prize is always equal to the number of our members, so one day soon it will be one million dollars – yee ha!
3. We are the voice of that global tribe and we achieve the respect and recognition we deserve, now that so much of the world’s economy is going to depend on us today and in the future. We will publish books of our Experts’ test cases, inspirational stories from our members and we host our own internet radio show. We shall never miss an opportunity to connect our members to what they need and help them achieve their entrepreneurial dream. And we’ll empower them.
Those were our original three aims and ambitions, but as I said, we’ve recently added a fourth goal, namely…
4. To be come The Entrepreneur Bank. To do this we shall set aside $1 per month for each paying member, i.e. a total banking fund of $1m dollars each month and use that to make grants, loans and microfunding available to our members. How exciting is that?
So next I need to raise the capital I need to create and grow this business. It was my idea and I’ve got it off the ground with the help and support of a handful of very valuable pals but now I need £300,000 to pay for enhanced web infrastructure, a virtual global team and marketing.
So here’s what I am looking for… 100 people with £3,000 to “bet” on my business on a non-recourse loan basis. What’s a non-recourse loan? It means, if I “lose” all your money, you lose it too. It’s little more than a bet “like every other investment”, as my accountant has just reminded me today! They’re like that, aren’t they, accountants? And I should know, I was one.
And here’s what rewards I can offer in return:
- As we hit 250,000 members I will pay you £2,000
- As we hit 500,000 members I will pay you £3,000
- As we hit 750,000 members I will pay you £4,000 and
- As we hit our target of 1,000,000 members, I will pay you £5,000!
So, your total “winnings” could be £14,000 which, after deduction of your original “stake” of £3,000, leaves you a cool profit of £11,000 or a 366% return on your “investment”.
I am writing this blog post/offer letter in terms of a bet as that’s precisely how I see it. I have no idea whether or not I am going to be able to pull off this business in its entirety – or how quickly – but all the very best signs are there. I do have a track record of some thirty years creating businesses which I have sold on and which are successfully run by the people who bought them tens of years later. With your support, it could be the best thing I’ve ever done and a Social Enterprise to boot.
I believe I am drawing a team around me who can deliver the expertise and support the members, including some really abundant stars who can demonstrate equally long careers of supporting us self-employed types.
I know we have a worthy mission, that of supporting the entrepreneurs of the world – and the idea of becoming a bank for entrepreneurs where the lending decisions are made by entrepreneurs is very exciting indeed.
And the “lottery”? Well that’s just a bit of fun for the members but its a fabulous incentive to membership.
So, do you have £3,000 lingering in a savings account, under-performing? Would you enjoy the opportunity to turn that into a fun £14,000 within two-three years, maybe sooner? My accountant says this is capital and, as such, when and if it is returned to you as capital, it will fall within capital gains tax legislation and as it’s likely to be across a couple of tax years, it could even be tax free although I can’t guarantee that. But, if we reach – say – 750,000 members by next 5th April, that would work. But if we achieved it overnight or much faster than next April, some of your gain would be liable to CGT.
I am talking to a VIP Marketer in early June who has got us thinking that we will achieve our 1,000,000 members very quickly by taking this opportunity to a few very big players and if so, you might lose your tax benefits on your winnings but it could be the fastest every £11,000 you have ever made! Again, I can’t guarantee that the money will come back quickly, or slowly, or even at all. In my mind this £300,000 will enable me to work full-time on this project for as long as it takes, paying for the needs of the business as it grows to support the global tribe of Entrepreneurs.
What do you think? What detail haven’t I covered?
Do feel free to gang together to lend the £3,000, although I must ask you to lend it to me via one representative for your team.
And if you can introduce me to others who will lend on the same basis, there is an introducer’s fee of 10% so please do pass the word along.
All payments must be received in pounds sterling via internet banking transfer or cheque by recorded delivery, and all will be lent to me personally though you may be rewarded by me or the business. I have a Loan Agreement for your non-recourse loan I can email you for your inspection. Do please ask to see a copy.
Just email or call me if you would like to chat about it and do join TheMillionEntrepreneurs.com and mooch around the club, check out our Experts Arena (coming soon), upgrade to “lottery” level of membership at only $10 pcm, become an affiliate and earn up to $1.10 monthly recurring for every friend you introduce. Obviously, it makes sense that if you can help in the membership drive, the sooner your money will be returned and the safer your “bet” becomes. But it really isn’t necessary for you to do that bit at all since we are all over it.
I can only handle 100 loans of £3,000 although do please feel free to take multiple units if you wish, i.e. £6,000, £9,000, £12,000 etc. Your loan doesn’t come with management privileges of telling us how to run our business BUT all helpful advice and contacts to speed the plough will be considered and gratefully received. Regular reports will be circulated as we achieve landmark membership targets from 1,000 upwards.
Please note: Your original stake is never returned, just the four scheduled rewards as above.
Ideally I would love this funding to come from people who already know, like and trust me and have worked with me over the years or are aware of my business achievements – and their friends. So please do pass it on…