A quickly weekly update: we're still continuing to develop a business.
In my opinion, a business is a combination of 2 things:
1. Creating repeatable processes . If it's not repeatable and you have to do it, it's not a business but a job.
2. Creating value higher than the cost to create, market, and deliver that value. If the value you create is lower than the cost to create, market, and deliver it, it's not a business but a hobby.
Whether it's software or marketing, the above is all we're trying to do in the short term: create repeatable processes to create value.
Today, we also had our first company board meeting. The main focus was around marketing. These are the first 2 processes we're implementing.
1. Company blog. TaskCause will create content for each nonprofit that works with our company. The blog allows readers to learn more about the nonprofit and how they can get involved through the TaskCause platform.
2. Launch local media partnership. We're going to accomplish the same as above through OnMilwaukee. Every nonprofit that works with TaskCause will receive coverage from a credible news source that allows readers to learn more about them and how they can get involved through the TaskCause platform.
The main objective of implementing these first marketing processes is to create a repeatable way to drive users onto the app.
Wefunder supports three different federal laws that allow startups to raise money legally. To comply with the law, Wefunder Advisors LLC and Wefunder Portal LLC (both owned by Wefunder Inc) also list startups depending on the regulation used.
Legal May 16th 2016
Wefunder Portal LLC
for 417 startups
Wefunder Advisors LLC
for 119 startups
for 3 startups
Curious how well the companies have done? Or how many raised follow-on financing?
Some fine print: 1) These numbers include startups currently live on Wefunder if they pass their minimum target. 2) Some startups use two different laws at the same time (i.e., Regulation D and Regulation Crowdfunding).
Join 759,127 investors who funded 505 startups with over $186.5 million1
wefunder.com/updates/135996-what-is-a-business is managed by
Wefunder Portal LLC.
Wefunder Inc. runs wefunder.com and is the parent company of Wefunder Advisors LLC and Wefunder Portal LLC. Wefunder Advisors is an exempt reporting adviser that advises SPVs used in Reg D offerings. Wefunder Portal is a funding portal (CRD #283503) that operates sections of wefunder.com where some Regulation Crowdfunding offerings are made.
Wefunder, Inc. operates sections of wefunder.com where some Regulation D and A offerings are made. Wefunder, Inc. is not regulated as either a broker-dealer or funding portal and is not a member of FINRA.
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