This is a subscriber-only article. Join Entrepreneur+ today for access

Learn More

Already have an account?

Sign in
Entrepreneur Plus - Short White
For Subscribers

How the Crowdfunding Site Peerbackers Got Its Start Co-founder Sally Outlaw talks about how her site helps fledgling businesses find the money to get started.

By Dan O'Shea

Opinions expressed by Entrepreneur contributors are their own.

I was watching a prime time news program with a story about the first web-financed soccer club in England. This venture's backers were upset that only the billionaires owned sports clubs, so they reached out to the masses for small contributions. The club would take all the funding, buy players and build their own team. Within the first 48 hours, they raised $400,000. When I saw this, I thought, "Man, why isn't this being applied to entrepreneurs?"

At the time, I was trying to raise money for another venture. That's when the market was very difficult, with bank financing unavailable and the economy bad. You would meet with investors and they wouldn't get back to you. It was very difficult being in control of your own destiny.

I ran across Kickstarter and IndieGoGo, but they were focused on creative endeavors--films and music. I didn't see anything out there 100 percent dedicated to entrepreneurs. A lot of companies are not geared for the ROI that angel investors want. Crowdfunding seemed like the only viable way to get some startups funded, including my own. That's really the story of how we started--out of my own frustration.

Editor's Pick

Related Topics

Starting a Business

New Research Reveals 4 Personality Traits That Most Wealthy Entrepreneurs Share

In the book "Rich Habits," author and CPA Tom Corley shares the daily success habits of his most successful clients.

Business News

McDonald's Is Making a Major Change to Its Burgers in 2024

The beloved Big Mac will also be getting a big makeover.

Growing a Business

Serial Entrepreneur Turned VC Reveals 4 Numbers You Need to Know to Scale Your Company

If you're looking to attract investment or simply seeking to scale your business, there are four key numbers you should use as your guiding light.

Thought Leaders

3 New Ways to Develop Laser-Like Focus

To boost focus in the face of distractions, you need a new approach to success.

Business Ideas

This Teacher Sells Digital Downloads for $10. Her Side Hustle Now Makes Six Figures a Month: 'It Seems Too Good to Be True, But It's Not.'

When one middle school teacher needed to make some extra income, she started a remote side hustle with no physical products and incredibly low overhead. Now she brings in six figures each month, and offers courses teaching others how to do the same.


5 Tips for Helping Your Book Stand Out In an Overcrowded Niche

Writing a book is one thing. Getting people to read it is an entirely different kind of challenge.