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MyOnlineToolbox

MyOnlineToolBox is an Internet-based business-to-business (B-2-B) and business-to-consumer (B-2-C) application platform.

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Upstart name:
MyOnlineToolbox

Upstart URL:
http://www.MyOnlineToolbox.com

Date of launch:
August 1, 2008

Tell us about your upstart business:
MyOnlineToolBox is an Internet-based business-to-business (B-2-B) and business-to-consumer (B-2-C) application platform that allows contractors in repair and remodeling to manage front office and back office processes. We help contractors find work, manage work, and collect money.

How are you funding your Upstart?:
Investors

Upstart launch budget?:
S650,000

What do you feel is your biggest challenge?:
We are not looking to casually grow. Our objectives include capturing the market while most competitors have retreated. Raising capital is tighter markets is the biggest challenge while all other operational goals continue to be met or exceeded.

What do you see in the future for your upstart?:
Making a lot of money on monthly residuals and positioning for strength in M & A negotiations.

How has the current economy affected your upstart?:
Just have to be more flexible when it comes to securing capital and new investors. Even with financial raising challenges, we were able to win a DELL TOP 10 INNOVATOR AWARD.

Your Upstart Services:
The product is software-as-a-service, all our clients need is an Internet connection. The B2B part provides leads and tracks work orders from contractors to sub-contractors, and purchase orders from contractors to distributors. The B2C part provides contractors a means to offer estimates, scheduling updates and invoices to homeowners.

Recommended Services / Advice:
Ensure to think out of the box when it comes to raising capital, getting new customers and retaining existing customers. Do not follow the book rules or you might as well just not become an entreprenuer. While the forum name is "Scrappy", it is better to think "Shrewdly".

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