Growthink Blog

How Less Fortunate Businesses Thrive with Focus And Funding

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I for one take a lot of my business resources for granted. The fact that I have high-speed, uninterrupted (well, at least usually) internet access. The fact that I have a quiet office with a desk. The fact that I have a computer and programs that automate a lot of my routine tasks.

These things all help me be much more productive, and give me the ability, when combined with hard work and focus, to accomplish great things.

Like everyone else, most of the things that I do don't go precisely as planned. Like Growthink University. Clearly I was hoping for thousands upon thousands of new members the day we launched. But then, like everything else, I knew that tweaks would have to be made, the service would have to continuously be improved, etc., in order to reap long-term success.

When things get me down, one source of inspiration that I've turned to is Kiva.org. Kiva is "the world's first person-to-person micro-lending website, empowering individuals to lend directly to unique entrepreneurs in the developing world."  Specifically, on their website, individuals who need small loans to start or grow their businesses request funding. And other individuals from around the world offer this funding in increments as low as $25.

The following are some new and completed funding requests I read today:

  • A $1,000 loan request from Mr. Vun Nem, of Cambodia who requires funding since he can't pay for the materials needed to run his construction business.

  • A $625 loan given to Ludmila Boiko of  Kherson, Ukraine. Ludmila has one daughter and sells domestic electrical appliances in a market in Dneprovskyi. Ludmila has paid back 12% of the loan to date.

  • A $1,075 loan given to Norma of Ayacucho, Peru who needed the funds to purchase outfits, polos, pants and blouses. This money was successfully raised on Kiva. In addition, she invested all of her savings to construct a third floor in their house and to buy machines to use in a dressmaking shop. This loan was made on June 30, 2008 and by October 31, 2008, she was able to repay the loan in its entirety.

Equally as inspiring as the entrepreneurs are the individuals who have funded them such as:

Philip, a student from Eaton, NH who lends because, "I am more than willing to help those who want to help themselves."

Judy, a teacher in Manassas, VA who says, "The impact of collective small gifts is breath-taking!"

And

Levi, who lives in Saskatchewan Canada and invests simply because "It works!"

When entrepreneurs throughout the world are able to raise tiny amounts of capital, amounts that I often charge to my credit card without flinching an eye, and are able to execute on their businesses and quickly repay their loans, it is truly inspiring.

What's also interesting is that these entrepreneurs may have more focus than many of us in the Western world. They aren't getting bombarded with phone calls and emails. Rather they are laser-focused on creating a business that provides money to feed, clothe and house themselves and their families. With laser focus often comes success!

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