Dana Tokioka and Keith Emerson were very gracious to take me to lunch to offer feedback on the Kuleana business plan.
They encouraged us to emphasize the mentoring component along with loan payback/accountability and life skills as features of our program that will distinguish us from other micro-lending ventures. It's also crucial to highlight the true impact of the money donors will contribute so that people don't feel they are throwing their funding at an abstract goal. How we measure success, both tangibly and intangibly, are important message to convey.
Scale was another area that they wondered about. It's not the first time we've heard that concern and certainly won;t be the last. It's a question we will confront for the foreseeable future: how will we be able to serve more and more people, especially if our program proves to be successful.
Other helpful questions:
Is $5,000 enough to really cover start-up costs of a viable business?
What are the legal implications or restrictions of what we're proposing?
How do you make winners out of the people who's businesses fail (and many, if not most, of them will)?
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