This Is Bizness: The Pocket Fund One

Pocket Fund: Where success isn't defined by the VC funding you raise.

Author

Dev Shah
October 2nd, 2023

This Is Bizness: The Pocket Fund One

Welcome to The Pocket Fund Edition and a big shout out to the 88 new subscribers this week!
(I had 100 before so this is a big increase lol)

Sorry about the month-long break 🙃 

Fortunately, when you work for yourself, you can do whatever you want to :)

I was working on a lot and needed to take a break to focus on the businesses.

I have many exciting things coming for you guys and we’ll be back to regular programming this week onwards.

I’ve been waiting for a while to write this edition, so let’s get right into it!

First of all, what is Pocket Fund?

Pocket Fund is a home for a new kind of entrepreneur 🤓

Where success isn't defined by how much VC funding you raise.

Pocket Fund will start with a focus on acquisition entrepreneurship with a $5,000 search fund for Small Online businesses.

The first chapter of Pocket Fund will operate as a club out of Claremont McKenna College.

We have a simple 3-step plan.

1. Find & Buy a business on acquire.com

2. Run business for 12-18 months

3. Sell (5x Valuation)

Bonus: Repeat 🔂

Pocket Fund has been started to combat what I feel is a lack of recognition given to student entrepreneurs who aren't looking to raise millions to found a 'moonshot' start-up.

Entrepreneurs who are just looking to follow their passions, start their own businesses, and define success in their own way.

So

Money isn’t the motivating factor here.

The main goal is to showcase the process of acquisition entrepreneurship:

Buying, running, and selling a small business.

Show ANYONE can do this.

Pocket Fund is committed to open-source practices, meaning all our activities and learnings are shared openly with our members and the broader community.

Why invest?

Do it for the love of entrepreneurship.

Our goal is to educate and help however we can.

Imagine how being exposed to a club like this would have helped you in your early journey as an entrepreneur.

That is our focus.

'Investors' will NOT receive a stake

Every Donation (Even $5 😁), regardless of how small, is a vote of faith.

What kind of business will we buy?

Simple Criteria:

• Online business for <$5,000
• Solving a niche problem
• Little direct competition
• Focus on finding untapped potential
• Take advantage of the existing strengths of members

We believe in growing a healthy and profitable business and are not trying to raise money for a moonshot start-up.

The acquired business will be bootstrapped, run with an eye on profitability and sustainable growth with a focus on systems and automation.

So how will we do this and why us?

We aren't entirely sure how, that's kind of the fun of it.

If we knew exactly what to do, then what's the point?

Buuuut I'm sure that wasn't very reassuring so here's some success I've had in the past:

- Built a side hustle to $25,000 at 18.

- Acquired Sourcely.ai (Source Finding Student AI tool) for $4,000, grew it to a valuation of $100k in 3 months. (More on this later 😉)

Donate for the love of entrepreneurship!

Future plans?

We're only just getting started.

We plan to open chapters in colleges across the US with a focus on recruiting genuine leaders, rather than school prestige.

Check out our website: https://lnkd.in/g4AYZXG6

Donate to our GoFundMe: https://gofund.me/ea321292

Do it for the love of entrepreneurship!

Where we’re at right now:

Raised $4,000 out of the $5,000 goal (aim to be done by the end of this week).

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