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20/04/11 Website launched to enable the public to kickstart their biz! |
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REWARDS
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HOW DOES AN INDIVIDUAL SUBMIT A PROPOSAL? Step 1 |
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FAQs - Descriptions
REWARDS! Project creators inspire people to open their wallets by offering smart, fun, and tangible rewards (products, benefits, and experiences). STORIES! FirstBizFirstMil projects are efforts by real people to do something they love, something fun, or at least something of note. They can also further expose their projects to create awareness through various other means such as blogging, videos and so forth. We place focus on projects that are creative and exciting. Entrepreneurs would-be have an opportunity to see their dreams come to live.
Every FirstBizFirstMil project must be fully funded before its time expires or no money changes hands. Why? 1. There is less risk for everyone. If you are unable to achieve the proper funding and some people have already pledged, they will not be charged even if the project does not start off. 2. It allows people to test concepts (or conditionally sell stuff) without risk. If you don't receive the support you want, you're not compelled to follow through. It definitely gives you some options. 3. People will be motivated to pass the word around regarding your project should they want to see it become successful.
4. DOES FIRSTBIZFIRSTMIL TAKE A PERCENTAGE OF OWNERSHIP IN PROJECTS? The creators of project will be able to keep 100% ownership of their projects.
5. WHO CAN FUND PROJECTS? FirstBizFirstMil is focused on creative projects. Anyone from any walks of life can bring their projects, events, and dreams to life through this portal. The word “project” is just as important as “creative” in defining what works on FirstBizFirstMil. A project is something finite with a clear beginning and end. Someone can be held accountable to the framework of a project — a project was either completed or it wasn’t — and there are definable expectations that everyone can agree to. This is important for every FirstBizFirstMil project.
PLEDGING To pledge to a project, just click the green “Back This Project” button on any project page. You will be asked to input your pledge amount and select a reward. From there, you will go through the Amazon checkout process. Note that you must finish the Amazon checkout process for your pledge to be recorded.
2. WHEN AM I CHARGED FOR MY PLEDGE? If the project you’re backing is successfully funded, your card will be charged when the project reaches its funding deadline. If the project does not reach its funding goal, your card is never charged. That's why we call them pledges.
3. IF FUNDING IS NOT SUCCESSFUL, WILL BACKERS BE CHARGED? If the funding project fails, pledgers will not be charged any amount.
4. WHAT ARE THE AVAILABLE PAYMENT METHODS? At the moment, we only accept Paypal and credit card.
5. IF I MAKE A PLEDGE, WHAT INFO DOES THE PROJECT CREATOR RECEIVE? Project creators see your FirstBizFirstMil username, your pledge amount, and the reward you've selected. If funding succeeds we'll also give the project creator your email address.
PROJECTS 1. ARE A FUNDING GOAL AND TIME LIMIT REQUIRED? Yes. Every project has a funding goal (a dollar amount) and a time limit (from 1 - 90 days) set by the project creator. When the deadline is reached, there are either of two results: 1. Funding Successful: If a project has met or surpassed its funding goal, all backers' credit cards are instantly charged and funds go directly to the project creator. Project creators are then responsible for completing the project and delivering rewards as promised. 2. Funding Unsuccessful: If a project has NOT met its funding goal, all pledges are canceled. That's it.
2. HOW DOES A PROJECT GET RECOMMENDED? Our panel of seasoned reviewers and entrepreneurs will sit down and discuss your idea to see if it contains anything new, exciting or promising which we would gladly recommend it to the public.
3. ARE A FUNDING GOAL AND TIME LIMIT REQUIRED? Yes. Every project has a funding goal (a dollar amount) and a time limit (from 1 - 90 days) set by the project creator. When the deadline is reached, there are either of two results: 1. Funding Successful: If a project has met or surpassed its funding goal, all backers' credit cards are instantly charged and funds go directly to the project creator. Project creators are then responsible for completing the project and delivering rewards as promised. 2. Funding Unsuccessful: If a project has NOT met its funding goal, all pledges are canceled. That's it.
4. DOES IT COST MONEY TO LIST A PROJECT ON FIRSTBIZFIRSTMIL? Submitting a project idea or proposal to FirstBizFirstMil.com is free or charge. However, once is the project is up and running and successfully achieved its full funding, we will charge a fee of 5% from the project.
REWARDS 1. ARE REWARDS FOR THE PROJECT NECESSARY? Yes. Every project has a funding goal (a dollar amount) and a time limit (from 1 - 90 days) set by the project creator. When the deadline is reached, there are either of two results: 1. Funding Successful: If a project has met or surpassed its funding goal, all backers' credit cards are instantly charged and funds go directly to the project creator. Project creators are then responsible for completing the project and delivering rewards as promised. 2. Funding Unsuccessful: If a project has NOT met its funding goal, all pledges are canceled. That's it.
2. WHAT CAN BE OFFERED AS A REWARD? Rewards are typically items produced by the project itself — it can be anything from discount from initial purchase, t-shirts, etc. Most projects also offer creative experiences: a visit to the set, naming a character after a backer, a personal phone call. Anything that brings backers into the creative process is a great approach. There are some limitations on what can be offered as a reward. Investment and loan solicitations are forbidden, as are lotteries, raffles, sweepstakes, and coupons/discounts on future goods.
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Home | Starters Meetup | Kickstart Your Biz | Contact Us Copyright © Personal Effectiveness Resources |
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