Politicians have tremendous leeway in how they use donations, with some spending money on things like ski vacations. Nicole Loftus of SkinX describes how to make political spending more transparent.
Show Notes
Nuggets:
- Successful businesses are incredibly focused. This often manifests as simplicity.
- When you’ve got high volume you can negotiate credit card fees down to 1%
Action Steps:
- Contact political candidates and pitch them on the benefits of a more transparent fundraising and spending platform
- Be simple with your strategy. Create a simple platform to collect donations and a simple ledger of categories politicians must report on.
- Take 5-10% of the money raised through your platform
- Don’t make it more complicated than it needs to be
Links:
Nicole Loftus is a seasoned entrepreneur who has previously made it to #8 on Inc 500’s fastest growing companies. She’s now built SkinX, a tech-enabled ecosystem that is ready to launch and get every American in the game investing in entrepreneurs, innovators and job creators.
Love a part of the show? Did we get something completely wrong? Let us know at update@runwithit.fm.
What is Run With It?
Need a business idea? Run With It shares unused business ideas from successful entrepreneurs, including the exact steps they would take to launch them. If you're looking for a ready-made business idea, proven founders are sharing them every week on Run With It.