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Museum Quality 11 scale Georgian Colonial Home |
US $78,000.00 | Sale |
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Lot of 250 PSC Magellan 24 Barcode Laser Scanner Scale |
US $44,873.13 | Sale |
October 4th, 2007 — Lending Club, Scale, choosing, ferriss, happen, realized, scenario, temporary, worst from Maneesh Sethi @ Better Rates. Together.
In any investment decision, it is important to understand your risk tolerance. Each time you create a P2P loan portfolio on Lending Club, there is an opportunity to indicate your risk sensitivity on a scale of 1-5. Choosing your risk level determines which types of loans will be put into your portfolio. So it is [...]
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July 7th, 2007 — Lending Club, Scale, Series, Tech Series, aggressive, conservative, intend, invited, lendingmatch™, lingering from Joaquin Delgado @ Lending Club
In this second edition of our technical series I will try to answer some of the questions lingering from the previous posting as I explain further how we generate portfolio recommendations.
When using LendingMatch™, lenders are invited to input the amount they intend to lend and the level of risk they are willing to take on [...]
January 16th, 2007 — Kiva, Scale from Matt Flannery @ Kiva Chronicles
I’m having a slight identity crisis and it involves scarcity.
For the past two years I’ve operated in an environment where scarcity was the rule. We had a really small budget and stretched it so wide. We used open source methodologies, we had no IT person, no travel budget, no QA testing, no paid accountant, used furniture, little insurance, no computer budget, no server administrator, low budget hosting, a CEO who writes code, etc, etc. Most of all, we had no free time and all became workaholics. I’d venture to say I saw the sunrise 100 times last year.
Scarcity, while we might complain about it, can become a badge of honor as well. In the nonprofit world, I see that all the time. Nonprofits often compete in terms of their overhead ratios. Most every nonprofit out there advertises to it’s funders how it likes to keep overhead low so that the majority of funds it raises goes to constituents. Kiva is not all that different. Last year we raised $2M in loans through our website and spent about $200K on our own staff (aka overhead). Thus, we can advertise that our overhead was no more than 10% of the total funds sent to our consituents. That’s golden in the fundraising world.
This kind of competition, while it seems logical to the public, can also be destructive. For instance, is it a good thing that Kiva had no QA testing process last year? Sure, we spent less on dreadful *overhead*, but at what cost? A buggier website?
I’ve definitely thrived on the narrative that Kiva, despite a lack of resources, has overcome enormous challenges and made a positive impact on the lives of thousands. That’s a very motivating story. The question is, how will things change once we have more resources? Is there a way to maintain a similar motivation in an adequately- funded organization? Also, can we break the destructive scarcity mentality?
In the last post, I asked everyone how much loan volume they would predict for Kiva in 2007. THANK YOU for all of the comments. Since I spend all my time building an organization, I don’t have time to blog a ton right now or respond to all the comments. I read them all and they guide my thinking. I really appreciate the sense of community that is evolving on this blog.
Olana, Premal and I have put together a budget to present to the board. We set the big goal next year at $10M in loans, but have contingincies in place for smaller and larger amounts. This means our overhead budget will go to about $1M for the year. IMHO, this is enough to adequately staff and resource our org for a $10M year. We need to get approval from the board. Pending that, we will be hiring soon….
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