Some Folks Have Quit Social Lending – How To Capitalize on Their Loss

Social Lending

Social lending is what you make of it, but others are making the choice to leave social lending behind. They want to go back to traditional financing. That’s perfectly okay, but we have to admit that it definitely makes us step back and take stock of the social lending world. Have things changed? Has social lending become something that’s best avoided? We definitely don’t think so. Some folks might have decided to quit social lending, but you don’t have to follow along in their shoes. You can capitalize on their loss in a few quick steps. You need to make sure that you’re thinking about going with whatever’s going to help you meet your goals. Some people might find that traditional banking really does help them reach their goals better. Going for a big house? Traditional financing can handle that with no problem. On the other hand, if you have been pushed out by the banks, you might still be able to find people that can help you get alternative mortgage financing. It just depends on what you’re trying to achieve.

What about making the most out of social lending as it stands? This means that you need to think about the type of proposals that you’re writing. Far too often people blame social lending for the fact that they can’t get anything funded. However, have you really put everything you could into writing the best proposal possible? This means that you’re going to have to think of more than just the numbers. You’re going to have to tell your side of the story.

social lending worldA lot of people think that they can just be vague and get money. That’s not the case at all. You’re going to need to think more about what you’re trying to accomplish and frame everything properly. Other people who don’t know who you are will be reading your social lending proposal. This means that you don’t want to beat around the bush at all. You want to be as honest and thorough as possible. When you can’t be honest like that, bad things start to happen. Bad things start to pop up. You have to make sure that you really do know what you’re doing. Otherwise you’ll just end up getting further and further behind. That’s really the only thing that you can do when it really comes down to it.

You need to always make sure that you are going to be looking at the type of life that you really want to have. Sure, it might be tempting to go back to traditional financing, but if they’ve already rejected you … it can really feel like your dreams are dying on the vine. Break out of that thinking by giving social lending a chance.

Remember the social part — you’re not alone at any point in the process. There are always people waiting around to help you with your first proposal. They will look it over and see if you really are moving in the right direction, or if you need to revise something. Take this criticism constructively — use it to do even better. Nobody is attacking you. If a seasoned social lender is trying to teach you something valuable, it’s definitely time to listen to what they have to say. Why would you want to do anything else than that?

Good luck!

Kickstarter Woes in a New Social Lending World

Social Lending

Are you looking at social lending as it relates to the real world? Then you definitely need to look at Kickstarter in a whole new way. The reality here is that we can’t just each and every social lending site as a group. Sometimes we have to look at them individually.

Unfortunately, you get a big idea of what’s going on with social lending when it comes to sites like Kickstarter. This site hasn’t been around as long as other sites, so the credibility issue is already a factor. There’s a lot of projects there, but does the cream rise to the top?

Absolutely! You will find a lot of projects on Kickstarter that will catch your attention. If you’re thinking about investing in worthy projects, Kickstarter rocks for this. However, if you’re not thinking about getting into the lending side, the projects may not catch your attention.

There are some strong lessons to be learned from looking at this site. Some people feel that there are too many rules with Kickstarter, while others feel that it helps keep the quality of the site up.

There’s always going to be a bit of debate about this, but in our opinion there’s no reason to skip over a site just because it has some growing pains. You would do well to have your profile on multiple social lending sites anyway. People want to get to know you, and they will check to see what other sites that you’re on. If you’re only on one site and you’re not well known, then there are going to be problems.

What needs to be done from here is to return to your original purpose. Thinking about your project in relation to Kickstarter projects might be a good thing, but you do need to be aware of what’s really going on. Don’t give up on your goals just because you see a lot of other proposals out there.

Your proposal has to be unique and important — and besides, you’re still going to need to use advertising techniques to promote your proposal.

Hang in there — our next article will be all about getting your proposal seen by as many people as possible!