Tuesday, September 21, 2010

SteamBalling.org

The site would allow microdonations from your entire network to help pay off debt. What sounds insane at first, I think has real potential.

People today are very well connected. More connected than ever before. And I have seen the dramatic impact of small change adding up to big sums.

There are so many debts in our lives. Debts which hold us back from pursuing our dreams. Student loans, car payments, credit card bills. When you are chasing after something great in your life debt is a burden like no other.

So people should come up with their own marketing campaigns.

They should lay out what they would like to do.

They should tap their network, online and offline.

They should ask for small donations to pursue their dreams.

SteamBall.org would allow your network to contribute small sums of money directly towards your debt payment.

An individual is allowed under current gift law to give up to $13,000 to another individual a year tax free.

If there was a financial institution who would enable the transactions at a very low rate, the direct giving towards someone’s debt in small amounts could be a catalyst for the elimination of the entire debt in someone’s life.

SteamBalling is what I have named the effect which happens when something is pushed over an edge.

Small little pushes behind something which is already on a roll only help to speed it up. Inertia takes over and and anything in its way better look out.

Social networks are a reflection of this.

When you tap a social network with a great idea, when you personally reach out and tap the people in your network, they become your advocate, they help you market what you believe in.

They only become your advocate if you are convinced

1. there is some intrinsic value. 2. They want to be a part of it.

I hate debt. I think a lot of other people do too. And I truly believe if people tapped their network and asked for small contributions, in a very similar fashion to KickStarter that a few small pushes would get the ball rolling very quickly.

I want to eliminate roadblocks preventing people pursuing their dreams. Eliminating debt for someone I believe in, is just one tangible way we could do it.