Doers Done Did (Ep2) – Sarah Spear & Purposeful Passion
September 14, 2012Counterfeit drugs in India? Not gonna happen. Children exploited and sold into the sex slave industry? Raised money to combat that too. Sarah Spear is an interesting (in a good way) Doer. As a Doer she works full-time as the Executive Director at Arch Grants (an organization focused on being a Community Catalyst). Arch Grants provides non-dilutive seed funding to innovative companies. Those seed funds — and the mentoring/coaching that accompanied the bucks — brought nearly 20 new companies to downtown St. Louis. In our second installment of Doers Done Did, spend some getting to know Sarah Spear.
I might be biased, but I think we’re on to something here positioning OverFundIt as the ultimate grassroots “getting shit done” platform. It’s not just Doers who seem excited, but members of the community are getting jazzed.
OverFundIt will launch in a community soon. Our decision will be based heavily on activity and Doer concentration (and I don’t mean to imply that it will come to your town solely based on positive mental attitude).
Get active and do your part sign-up, like, follow, and share. Bring OverFundIt to your community.
I this being done as a social expirament. What’s the business model? When you go big what’s the ROI? There are already other platforms out there that do this really well. I see you were in Indiana. Big names there, Scott Jones (Guy who invented voicemail). Lots of others. Are you guys trying to raise capital?
John,
This is far from a social experiment. While there are other corwdfunding platforms out there (we have explored a ton), there is still a hole in the market needing filled. Our initial biz model consists of 1.9% of amount raised (far below our competitors). We also have a mechanism in place that will increase the percentage of funded opportunities. There are other revenue streams in the mix for future rollouts, but the platform is being built to scale.
We are currently not raising capital. We are bootstrapping the project and can grow based on revenue. We might look for capital down the road once the system in developed and the valuation is higher. No need to take it too early.
Thanks for your interest. I’m more than willing to chat with you about other specific question you might have or other feedback you’d like to offer. Feel free to email at travis@overfundit.com
Cool I like it.
Thanks, Layne. And we like you!