Have you heard about the efforts by one entrepreneur to raise money to help re-open 7 Iraqi TV stations? It's an uplifting story and one you should check out.
I wrote about it over on my weblog, Small Business Trends. Here's the post:
Jim Hake, the entrepreneurial founder of Spirit of America, raised US$1.52 Million so far through the Internet, media, and blogs, among other sources. The money will be used to fund requests by Americans serving overseas on behalf of the countries where they are stationed. Most recently, Spirit of America raised funds to buy broadcasting equipment for several Iraqi TV stations, so they can re-open.
Much has been written about this worthy charitable effort, including this article in the Opinion Journal. Also, many blogs helped raise funds, an effort which Wizbang and other blogs drove.
From a business perspective, what I find so interesting are the entrepreneurial lessons of Spirit of America:
- Set a Goal. It's amazing what you can do starting with not much more than a goal. Entrepreneurs are a can-do lot. Give them something to focus their efforts on, and [****] happens.
- Find a Niche. Even in a mature saturated market, small startups can thrive. They just have to find the right niche. To do that, you have to identify a need that is not being met. That's what Spirit of America did. Spirit of America defined its mission as raising money to help Americans who are serving overseas respond to needs in the countries where they are stationed. The US seems to be overrun with non-profits, with some group or other raising money for just about every cause you can imagine. But none was serving that exact niche.
Article comments
1 - Eric Olsen
very interesting Anita, and I think your "lessons" drawn from the effort are correct as well.