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    46 Replies Latest reply on Jul 24, 2008 2:43 AM by mademan24

    This forum has become too money-hungry

    Iwrite Pioneer
      I am becoming concerned about the high volume of posts that are requests for funding, loans, and investments. Is this what this forum is meant to be? I hope not. The questions about running a business have reduced greatly - the exchange of information and ideas is really lacking.

      Is there anything that can be done about this? I'm not sure. Maybe, we need a "Request for Funding" section. As it is right now, all of the asking for money is changing the tone of this forum and not in a good way.

      I may be wrong. But this is how I am feeling. Don't get me wrong, I am rich or so established that money is not a concern for me, but I was really getting something from all of the conversations about running and growing a business. I miss talking with folks about that. This forum had become a daily destination for me, but now I am having trouble wading through all the requests.

      What are your thoughts on this?
        • Re: This forum has become too money-hungry
          Buffalo Adventurer
          My thoughts are the same as yours. I haven't posted here for sometime because the forum seems to have turned into a place to request funding. A seperate section for funding requests would be a great idea.
          1 of 1 people found this helpful
          • Re: This forum has become too money-hungry
            Bridge Navigator
            I concur completely!

            Additionally, the board should be actively monitored and any request four funding, working capital, angel investors, etc. be moved a new "request for funding" board. I would also like to see none of these posts appear on the front page - there are so many that they blind out all other posts.

            I hate looking at the board now - its almost like getting your mail and seeing 15 credit card solicitations - all the same thing.
            1 of 1 people found this helpful
            • Re: This forum has become too money-hungry
              LUCKIEST Guide
              This forum has become too money-hungry, Yes but

              It would be interesting to have a follow up to see
              1) How many of the posts for money actually receive funding or investors??
              2) A follow up 6 months down the road to see if the money they asked for actually make
              a difference. (so many say they have bad credit scores)

              *Does anybody remember the T V Show "The Millionaire" *In this hit 1950's TV series,
              *a millionaire giving
              away one million dollars apiece to persons that he has never met.*

              LUCKIEST

               


                • Re: This forum has become too money-hungry
                  Iwrite Pioneer
                  Luckiest,

                  I have been wondering the same thing. I posted the question as to whether or not money was the answer, remember? I think those requesting money are missing an opportunity to take full advantage of this board. The real wealth of this board is the information I have read in some of the posts.

                  I don't want to be the board police, I just think something needs to be done.
                  • Re: This forum has become too money-hungry
                    DomainDiva Ranger
                    Luckiest.....I am dating myself here.....however I do remember the show the Millionaire.

                    The board has become extremely money-hungry. I got tos'd in the early days for inquiring about funding....now the money requests are everywhere. I miss the business exchanges. A separate section for loans/funding that did not show all the posts up front would be great...thanks IWrite! Wading through all the loan requests to find a business discussion is tedious at best.
                    1 of 1 people found this helpful
                      • Re: This forum has become too money-hungry
                        Buffalo Adventurer
                        How does one approach the powers that be to put in a seperate forum for funding requests?
                        I remember the show too. Pop Quiz.....what was the millionaire's name?
                          • Re: This forum has become too money-hungry
                            DomainDiva Ranger
                            His last name was Tipton..and he was seen only from the rear...when he and Mr. Anthony would discuss the lastest recipient and the lesson learned. As for putting the request to the 'PTB' I have no idea where to start.
                              • Re: This forum has become too money-hungry
                                Buffalo Adventurer
                                Good memory! When we visited my grandmother we HAD to watch that show.
                                Perhaps someone else knows how to approach the 'PTB'.
                                  • Re: This forum has become too money-hungry
                                    Iwrite Pioneer
                                    We never watched it. We were a "Truth or Consequences" and a "It's your life" family. Man, I am old!!

                                    I posted this because I don't know how to get the PTB's attention. I tried emailing and never heard from them.
                                      • Re: This forum has become too money-hungry
                                        Buffalo Adventurer
                                        Getting old is better than the alternative!
                                            • Re: This forum has become too money-hungry
                                              Iwrite Pioneer
                                              I could have marked all the responses as "answered." I feel like this forum has been hijacked and I refuse to go where the hijackers are taking it.

                                              I want to get back to what attracted me to this forum - real discussions about issues facing business folks!!
                                                • Re: This forum has become too money-hungry
                                                  tim13ga Wayfarer

                                                  This site has gotten too money-hungry, and I am one of the hungry.

                                                  I came looking for funding. Banks have said no (even our patron has said no.) Friends and family have said no. As an aside, you will find that the income you have will be roughly 10% above or below the people you call friends. I am broke, (broke is a state of finances, poor is a state of mind.) So we look for business sites where we hope to find funding. I have been looking for work as well. I can't buy a drafting job in Georgia.

                                                  I do have a bad back. (That is why I went back to school and learned drafting.) So it is not like I can dig ditches or lift boxes for extra money. My wife had a stroke in May of '07 and I have become her primary care giver. I have been looking for a business that can give me a full time income with part time hours. I found it, and that is what I am looking to fund.

                                                  If you have been wondering why the "PTB" has not put in a "looking for funding" section, the answer should hit you in the face like a wet fish. They are a "BANK!" If any funding is going to happen, they want to be the ones holding the notes. They would probably frown on any funding that actualy happened under their noses. But we still have the problem of what to do about all of the funding requests. I put mine in the loans and lines of credit section because I felt it was at least closest to the topic. I would call the funding section "Where to go, when banks say no."

                                                  Even though I wait for someone to say that they may be able to help, I read other posts and have given answers when I had something helpful to contribute. It is not like I make one request and have nothing else to contribute. I try to be an engaging part of the community.

                                                   


                                                  I hope this helps...

                                                   

                                                  Tim...
                                                    • Re: This forum has become too money-hungry
                                                      Iwrite Pioneer
                                                      Tim,

                                                      Thanks for the great response. I think I am resolved that there will not be a section for requests.

                                                      I understand being broke, I do it so well. I don't disagree with anything you have written. I think the last comment is the true gem of wisdom:

                                                      "Even though I wait for someone to say that they may be able to help, I
                                                      read other posts and have given answers when I had something helpful to
                                                      contribute. It is not like I make one request and have nothing else to
                                                      contribute. I try to be an engaging part of the community."

                                                      I think some members feel that more of the folks requesting money don't do this. I know I do. There are those who participate in this forum and then there are others who want something from it without contributing much if anything.

                                                      I am in the service business - I charge clients away from this site a nice amount of money for advice that I give away free here.

                                                      Why would I do this? Because I understand being "broke," and this is all that I have to offer. It is my way of trying to help.

                                                      And I am not the only one. So, how do you think we feel when people tell us the only thing you can do for me is give me money. They don't say that directly but it comes through in the words and tone of their posts.

                                                      This community needs differing voices and views, and I believe some of the folks coming here only looking for money are robbing themselves and others of the opportunity to hear their voices on things.

                                                      I am really glad you are here. I hope things work out for you.
                                                      • Re: This forum has become too money-hungry
                                                        MnlyTechnlgy Adventurer
                                                        tim13ga: I loved hearing/reading your response to the post. I too understand being "broke" and as a business owner, it is not a comfortable spot to be in. That said, I agree that the forum will most likely not place a separate and distinct section for funding requests because, as you stated .. they are a bank and will want in on that piece of the pie.

                                                        I both sympathize with your limitations and commend you on your strength and determination to succeed with your business venture. I have found this forum to be extremely helpful and educational. Like you, I also read and post to many entrepreneurs hoping that my business experiences can somehow help someone else.

                                                        Take care.

                                                        Deb L
                                                        Mainely Technology
                                                          • Re: This forum has become too money-hungry
                                                            DomainDiva Ranger
                                                            Most of us here understand broke.

                                                            A year ago we were still looking for that 'big cash infusion'. It never happened. What did happen was that I cashed in assets, and we got a loan to keep going....the scope creep has been incredible and I have issued more shares to cover what the loan has not covered for my programmers and designer.

                                                            We have now reached the point of no return so to speak, so if someone did come up with money we would have to think about HOW we would use it (marketing most likely). We have been so poor for so long that we are used to being poor....and are going ahead despite being poor.
                                                              • Re: This forum has become too money-hungry
                                                                snipperred Scout
                                                                Hi there, I sent an e-mail yesterday to help@sbcommunity.bankofamerica.com Have yet to hear back. Here's what I wrote.

                                                                Dear Moderator/ Help Team:

                                                                I am not sure if you have already been contacted regarding forum "This community has become too money-hungry." yet. There is some discussion of previous attempts to contact you without a reply. The topic of this discussion concerns items that are welcome in the community to a degree, and therefore not candidates for reporting as innappropriate.

                                                                The consensus seems to be- Problem: Too many requests for funding overshadowing the business topics. Proposed Solution: Dedicate a separate forum for finance requests in such a manner as these do not overload the main page and conversations.

                                                                I agree and realize you do have forum topics already set up and the sheer volume of finance questions is the root cause of this problem.

                                                                My personal recommendations to you are- 1) Read and respond to the above mentioned thread. Show a moderator's presence more frequently and publicly. Remind the community you are accessible and respond to suggestions. 2) Take charge of the finance requests. I find it too ironic for a bank to ignore these. This could represent new accounts. I see you have a member of SCORE here to assist people in developing their business plans and pursuing financing constructively. Perhaps you should team up or develop your own systems to channel people through financing solutions or alternatives.
                                                                • Re: This forum has become too money-hungry
                                                                  MnlyTechnlgy Adventurer
                                                                  DomainDiva: I hear ya. Same here ... despite the constant financial threats, we trek forward with the hope that we can stay in the game, so to speak.
                                                                • Re: This forum has become too money-hungry
                                                                  tim13ga Wayfarer
                                                                  Thanks Deb.

                                                                  It is the strength of places like this forum that allows the small business owner the chance to ask, learn, vent, complain, grow, and connect. Not every post will be a winner. Not every member will be helpful.

                                                                  Some of us are money-hungry. Others of us are money-starved. Is there such a thing as money-anorexic? I find the biggest asset for a small business owner, is their sense of humor.

                                                                  Thanks for your post...
                                                                  Tim...
                                                              • Re: This forum has become too money-hungry
                                                                tinki12000 Newbie
                                                                And why is it wrong for beginners of small businesses to request money. I do read through the forums looking for good advice but no one has really stated how to get the funds when you're credit rating is low and LucKiest responded to my query!!! This a small business forum from the bank of america yet you're talking about tv shows!!!!! Isn't that ironic?
                                                                  • Re: This forum has become too money-hungry
                                                                    MnlyTechnlgy Adventurer
                                                                    tinki12000: Don't get the comments wrong, we're not saying that business owners shouldn't come here to ask for help, funding, ideas or any other resource .. afterall that IS what the forum is for. What we began by saying was that the SBOC Team should make it easier for entrepreneurs to get the answers they are looking for, specifically funding, by placing a special forum topic/category for them to post to. This would help by allowing those who are in the "Funding" business (investors, angel investors etc.) a quicker access to those who are in need of their services. Right now, the way the forums are set up, someone who is in need of ONLY Investment advice or Funding advice, they must choose which category is going to produce the quickest and most reliable response without getting a lot of potentially negative feedback from those who may not fully understand the intent of the forum.

                                                                    Hope this helps ... we're not trying to sway entrepreneurs from asking for help - just trying to focus the type of help they are apt to receive in a more efficient manner.

                                                                    Deb L
                                                                    Mainely Technology
                                                                      • Re: This forum has become too money-hungry
                                                                        Iwrite Pioneer
                                                                        Sometimes, someone can answer better than you can. Thank you. I believe this is the best explanation of what I was trying to say.

                                                                        I am not upset or angry with anyone, I am worried.

                                                                        I'm worried that good people are going to end up being taken advantage
                                                                        of because they aren't getting the best information for them. I am
                                                                        worried that a VERY SMALL PERCENTAGE of the folks on this forum are out
                                                                        to take advantage of people who are in need of help.

                                                                        Wow. I went away for a few hours and this thread blew up!

                                                  • Re: This forum has become too money-hungry
                                                    designer Tracker
                                                    I agree, and I have said this a few times in different posts. I've been working non-stop since I was a teenager and currently hold 2 jobs. I never, ever asked my Father for a penny, so it is weird to come to this forum and see all the postings for requests from folks that want these huge 6-figure loans from random strangers. I feel, it you need financing and your idea is so great and wonderful and sold....go to a bank. I was hoping this forum would be a vehicle to share business info., network, maybe meet people out there in this world that do the same things we do to compare notes, etc. But the postings for money is a big turn-off for me.
                                                    • Re: This forum has become too money-hungry
                                                      Lighthouse24 Ranger

                                                      Yes, I agree. We took a survey 3+ months ago, have responded to a couple of solicitations for improvements since, and this is not the first thread on this particular issue -- so it seems we've given the Community Team plenty of input on this. I'm just not sure when or if "improvements" are coming -- or if our concept of "better" is even the same as the Community Team's. After all, the steady ramp-up in money seekers, money "providers" (many of whom are blatantly illegitimate), and MLM schemes is bringing in LOTS of new traffic for BoA. Every one of those hundreds of people who've posted something had to sign-up and give BoA at least a valid e-mail address. So while all the money-hungry posts are decreasing the value of the community from the perspective of many of us who are active (or emerging) small business owners, I've considered the possbility that traffic is traffic from BoA's perspective, and that more is better.

                                                      All of this is speculation on my part, of course. Perhaps the Team will comment . . .

                                                        • Re: This forum has become too money-hungry
                                                          Iwrite Pioneer
                                                          Somebody is paying attention - this thread has been moved to community feedback! It belongs here, but if they can do that then why not move all the request to somewhere else?

                                                          Lighthouse, thanks for looking at it from that point of view. I needed to read that. I hope they realize that sheer volume does not reflect quality. They may have more volume but soon people may find that the forum provides less value to real business owners.

                                                          Which is better a lot of customers who don't buy much and may even steal from you or a couple of loyal customers who buy large amounts from you? We all know the answer.

                                                          BOA needs to look at if from our point of view also.
                                                          • Re: This forum has become too money-hungry
                                                            Lighthouse24 Ranger
                                                            P.S. My previous post was not a criticism of the SBOC, any of its members, BoA, or the Community Team. It's more an acknowledgment that we who are speaking up here may be in the minority.

                                                            I get the impression that there are only about 30 or 40 of us who actually own and run a full-time business with employees, perhaps a hundred who run a full-time one-person operation, and a couple of hundred who are currently run a part-time business (but are seriously moving toward full-time business ownership). In contrast, thousands of members have posted on the "money hungry" topics.
                                                              • Re: This forum has become too money-hungry
                                                                DomainDiva Ranger
                                                                Good points Lighthouse...what amazes me is the requests are being made so that their ideas will be bankrolled by some angel investor who will swoop in and solve all their problems. I wonder of BofA realizes that this forum is being trolled by some pretty impressive names out there? I have received phone calls from Fortune Magazine as well as Business Week when someone noticed a response to a business question that I posted and wanted to discuss it with me.

                                                                Perhaps BofA needs to decide what kind of community they want to build and then go from there.
                                                                  • Re: This forum has become too money-hungry
                                                                    mademan24 Adventurer
                                                                    This forum is great but I do like what LUCKIEST had to say and his viewpoint. I have not heard of any success stories from anyone as of yet. I am not oppossed to hearing about worthwhile ventures that make sense and can generate profits. Whether you decide to actually invest or not is another story. This is a forum for networking and opportunity. People should be allowed to do just that and Yes there should be a seperate section for funding requests.

                                                                     

                                                                    Cheers,

                                                                    T.Michael
                                                              • Re: This forum has become too money-hungry
                                                                MKTG.com.au Adventurer
                                                                Hi

                                                                I agree with your sentiments - for a while Ive been elsewhere, partly due to being busy but also partly because I think things started to go in a direction that I was not so interested in. Without wanting to sound all cornbally corporate speak I think we need to refocus on the basics and remember why this forum started and what we wanted from it - for me, it wasnt to read about people wanting $ or those who dreamt of money making ideas without any collateral. It was generating ideas, sharing, learning and biz discussion.

                                                                mktg.com.au
                                                                • Re: This forum has become too money-hungry
                                                                  gypsumrocker Newbie
                                                                  I to think that there should be another section for this topic. But, don't knock everyone though. I am a father of three that has bad credit because i did not have medical insurance when they came into my life. I hardly ever ask for anything from anyone. I work year around hardly ever missing a day of work and yet i am exhausted at the fact that i have a growing business, good reputation, in need of equipment because his partner quit and yet i still can not get a small loan to keep doing the productive job that i have been. So, there are people like me that are indeed in need and do not know where else to go. So, please understand. ( But, there should be a seperate section for this topic, I agree )
                                                                  • Re: This forum has become too money-hungry
                                                                    dtominus Wayfarer
                                                                    I can understand every ones frustration, but consider this! Look at the housing and lending market now
                                                                    compared to 1yr ago? Business owner hopefuls or current business owners are looking for help with funding because there just not getting it right now from the banks, Ask any lending officer , Does he or she
                                                                    see a huge decline in application aprovals compared to say one year ago! Don't be so critical, If you are already doing fine money wise, Then its easy to come to this conclusion, But the folks out here are the same folks that where here a year ago, Its just that times have changes , So there asking , Help me solve this prob! Give me advice, Show me the way, Stop being critical, And give the help these folks are asking for, Remember , How can you speak about the speck in your brothers, But you don't look at the loge in your own eye!!!!!

                                                                    Thanks
                                                                    David Tominus
                                                                      • Re: This forum has become too money-hungry
                                                                        Iwrite Pioneer
                                                                        David,

                                                                        We aren't being critical - most of us are in the same boat if not worse. If you took a poll, you would find the majority of us have some type of funding need.

                                                                        No one said these posts do not belong on this forum, we said they should have a their own section.

                                                                        I think you will find that the people commenting here would be more than happy to answer questions but we are not talking about folks asking questions - people are requesting money, and most of us cannot answer that need.

                                                                        No one in this thread passed judgement as to the character of anyone because they asked for money - you are reading into things that were not said.

                                                                        Once again, we believe that there should be a section for funding requests. How is that not understanding the situation or putting people down?

                                                                        I am sorry if you think I am attacking people for needing money but I am not.

                                                                        derek
                                                                      • Re: This forum has become too money-hungry
                                                                        MnlyTechnlgy Adventurer
                                                                        Iwrite: I agree with you as well. I had noticed quite some time back that the tone of the forums were heading down a virtually money-oriented path. I agree that there should be a "Requesting Funding" section solely for this purpose, however as with anything ... that doesn't necessarily mean they will utilize it. I was enjoying the conversations with new business owners and prospective entrepreneurs who were looking for advice and ideas ... it DOES certainly seem as if they have diminished over the months. I actually stopped checking this every day for a while because of that problem. Another problem I have is the amount of people who post to the forum who do not utilize proper grammar and never respond to the posters or at least acknowledge their responses.

                                                                        I too think something needs to be done.

                                                                        Deb L
                                                                          • Re: This forum has become too money-hungry
                                                                            Iwrite Pioneer
                                                                            Thanks for the support.

                                                                            As for the poor grammar, never responding and not acknowledging - I'm guilty as charged:
                                                                            • I sometimes type and submit without reading.
                                                                            • I don't respond to every post because I don't want to interrupt the flow of the conversation.
                                                                            • Which results in me not acknowledging a response.
                                                                            I throw myself on the mercy of the board!!

                                                                            Seriously, I understand you frustration, but you can't let it keep you away from the conversations. The board needs you and everyone else. If we can over look the smaller stuff and address the larger things, then maybe we can all learn something that will help us grow our businesses.

                                                                            I was wondering where you were. I enjoy your comments. I have to admit that I am hooked - I take quick, little breaks and scan the boards every two or three hours to see what is going on. For a while, there was a real exchange of ideas and a lot less peddling. I miss the good old days!! (That's a joke.)

                                                                            I think the answer to the problem is to take back the forum - ask your questions, present a challenging situation, offer up some wisdom. In other words, post something to get us talking. Give us someting to talk about. I try but I am not that great at generating a discussion.

                                                                            Iwrite
                                                                              • Re: This forum has become too money-hungry
                                                                                MnlyTechnlgy Adventurer
                                                                                Glad we're on the same page! I think we're all guilty of posting w/o reading before hitting the submit button - I'm talking about the obvious "SPAM" of sorts that seems to hit here every so often. If you look at some of the stats to that post, without actually going into the post, you can see that 1 or 2 people may view the post, but no one replies.

                                                                                I am back with a vengence on the site ... have taken a short break to see if things sorted themselves out. I agree that the way to combat some of the problems is to "take back the forum" and make viable contributions which are not only informative but enjoyable at the same time. I have had the wonderful opportunity to help out some really great people on here and the reward comes from knowing that I have had a small part in their success, hopefully. Of course it doesn't hurt that we've obtained a couple of new clients from the forum as well ... that aside, it is always a good feeling when you can set someone on a good path with positive encouragement and support. Afterall .. isn't that why the forums were invented?

                                                                                Keep in touch ...

                                                                                Deb L