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Tuesday, December 20, 2016

Bridging Loans made easy with Que Capital - Success story $200k


Loan Story - Success for Mr X the Millionaire

$200,000 loan approved in 1 day

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Multi-millionaire received a hot share tip, but being asset rich and cash poor he did not have enough time to borrow the money from his bank.

Que Capital lent him $200,000 within 4 days of receiving the application which allowed him to buy the shares.

After 3 months he decided to sell the shares at a healthy profit, and repay his loan in full.

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An accountant borrowed $100,000 from a friend who then prematurely wanted his money back. The original agreement with the friend was that he would be repaid his money out of the sale of the accountants house which was to be put up for sale after it was repainted and spruced up.

The sprucing up took too long for the lenders’ liking so the they fell out, legal action was taken by the now ex-friend to recover his money. Que Capital stepped in and repaid the ex- friend in no time. Que Capital is now waiting for the house to be sold in order to be re-paid its money.

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Saturday, December 17, 2016

Crowdfunding Success story

$1.2M in 30 days, what Roccbox learned from this success

In March, we wrote about how our community was going bananas over the Roccbox portable pizza oven. In the first 72 hours of their campaign, they raised more than $400k, averaging about $100 per minute. Their campaign wrapped up 30 days later, bringing in over $1.2M in funds. This week, we sat down with one of the Roccbox campaign owners and production managers, Marcus White, to find out why they used Indiegogo and what they learned from raising funds:

What is the Roccbox and how did you come up with the idea for it?

Roccbox is a portable wood and gas fired stone floor oven that was designed by our founder and CEO, Tom Gozney. Tom already owns and runs ‘The Stone Bake Oven Company’ and ‘Gozney Ovens’, providing high quality pizza ovens for domestic and commercial use. However, he identified a gap in the market for those instances where a full-sized, built-in pizza oven is not financially or physically viable. Being available at an affordable price and weighing in at just 20 kg, Roccbox can fit in the back of your car and be used almost anywhere.

How do you translate your passion for this idea to the backer community?

With Roccbox, translating the passion for the product to Indiegogo’s community was easy because we ourselves were so passionate about the product we’ve developed over 3 years. We come from a family of businesses centered around stone bake ovens of all shapes and sizes. Those ovens, and perhaps more the amazing food they create, is the best way for us to demonstrate our passion. We utilise imagery and video content to do this.

What did you raise funds for?

Once our product (Roccbox) was ready for market, we found ourselves in a position that many young businesses find themselves in; we had a product that was ready for market without the capital to fund our first productions. We had our supply chain in place and everything ready to go, but lacked the funds to ‘push the button.’

Why did you choose crowdfunding?

While looking at various solutions, crowdfunding kept entering the conversation and we quickly realized that this was the best option for us. It allowed us to raise the funds we needed much faster than traditional methods would allow and gave us an opportunity to reward those who had followed Roccbox’s development, patiently waiting for us to bring it to market.

What were your biggest challenges?

Managing the sheer level of communication you’ll get from backers was a challenge. When someone has the confidence to voluntarily contribute their money to your project, they have a level of involvement beyond that of a simple customer. They want to know updates, they want the in’s and out’s of what’s happening – and rightly so! We are a small UK-based team and, with 2,500 backers, would at times receive hundreds of emails a day. Managing this and making sure that no one falls through the cracks is difficult, especially when the production delays start (and believe me, they’ll start!) and you find yourselves with a community of understandably frustrated backers!

Can you tell us about life after your campaign?

Life after the campaign ended has been a whirlwind. We began production of our product immediately (actually during the campaign) and were subsequently hit with delays. Since then, we manufactured and shipped over 2,000 Roccbox’s and are still working towards fulfilling the remainder of our outstanding orders, all the while addressing quality control challenges and working on new content and recipes to keep our community engaged with Roccbox.

Is your product now on the market?

Yes! We currently sell directly from our own ecommerce platform here in the UK while actively in discussions with distributors to help us bring Roccbox to territories further afield.

Would you crowdfund again?

If we are in the same position we were in for Roccbox, yes! It’s been the key we needed to bring our product to market. I personally would likely do some things slightly different though, given what we’ve learned throughout the entire process. For example, we would clearly stipulate the situation regarding refunds on our campaign page by making it clear when your backers can get their money back and if it’s time dependent (i.e. once production starts they can’t). I also recommend extending the shipping timeline. Whatever you think is a reasonable timeline, add considerably more time to it! The delays you face will almost always be much longer than you anticipate. It’s better to have a longer timeline and deliver earlier than deliver late!
Looking for more tools and resources to learn from Roccbox’s experience? Download our Field Guide to Crowdfunding today!

Sunday, December 11, 2016

Fools Gold of Public Opinion

I Stopped Helping People and You Should Too

I Stopped Helping People and You Should Too

"My mother taught me never to give unsolicited advice nor try to help anyone unless they ask you for it. I always thought that maybe she was just cold. As I get older, I have started to realize that she was right. My mother is one of the kindest people in my life." These are the words of CamMi Pham, a successful blogger who set down 3 rules of helping people. We here at Bright Side are going to start following these wise tips right away.

1. Stop helping people who don’t deserve it.

Start-up founders often ask me for advice. I know that running a start-up is hard work — I run one myself. However, I have stopped sharing my knowledge for free. Previously, people would constantly ask me out for a coffee just to "pick my brain." But those who have a few million dollars raised from venture capital funds lying in their bank accounts shouldn’t be allowed to use my expertise for free, especially if they didn’t even bother paying for my tea. It’s not acceptable!

They don’t understand that I need money to feed my family and pay my bills. They don’t realize that I have to meet deadlines at work. It doesn’t even cross their minds that in order to compensate for the time spent for them, I would have to work until 2 am the next day.

If they really think that my time isn’t worth anything, then I don’t have time for them!

If people don’t care about you, don’t help them. They don’t deserve your help.

People will always try to exploit you if you allow them to. You don’t have time to help everyone. Help only those people who really deserve it. And remember: before you can help others, you need to help yourself!

2. Stop helping people who do not appreciate your help.

My greatest weakness is that I like to help people. I help people, no matter if they asked for it or not. But you never know when this way of thinking might hurt you.
One of my former clients wasn’t doing well. My team spent several days analyzing all the data to figure out what the problem was. That wasn’t actually part of our job, so we didn’t bill the client. As a result, we found some serious flaws in their business model and strategy. But as soon as we showed the customer our findings, they fired us on the spot.
We did that analysis out of compassion for the client. But we told them what they didn’t want to hear and ended up making our client hate us for giving our professional opinion.

The easiest way to turn your friend into an enemy is to offer them advice they don’t want to hear.

If I offer someone my help, I actually want to help. But very often, people are not ready to accept my help. It’s okay.

3. Stop helping people unless you’re 100% sure that you’ll cope with the task.

A few years ago, my parents were out of the country and asked me to look after their house. I agreed, although I had no idea how to water the plants. So some of the flowers were watered too much and others were given too little water. By the time my parents returned, all the houseplants had died. If they hadn’t asked me for help, someone who is good at housekeeping would have done it, and my dad’s flowers would have been alive. Ever since, my parents have never let me touch the plants again.

If you don’t have the skills or time to help someone, you will do more harm than good to them.
Offering help when you are not sure that you’ll cope with the job is not a good decision. By doing so, you will only deprive people of the opportunity to find a better candidate. It may sound strange, but your kindness can hurt people sometimes. One of the easiest ways to destroy a relationship with someone is to offer them help that you can’t deliver.