eFactor, which stands for “the entrepreneur factor”, gives users the opportunity to be the “next entrepreneur.” The site acts like a social network by connecting those with a good idea to users who can help them make it a reality. Users can tap into the over 800,000 member community to search for partners and customers. eFactor also works with more than 25,000 investors that may help financially support a project they like. Users can also check out business services, including flights, hotels, and private business clubs called E.Lounges.
eFactor was founded in March of 2008 by Roeland Reinders, Marion Freijsen, and Adrie Reinders. Based out of San Francisco, California, eFactor was intended to be a single go to source for entrepreneurs with a good idea. The founders wanted to create a website that could handle the four main needs of someone that wants to turn their idea into a business. Those include funding, generating business, getting advice, and saving money on the investment. Today, eFactor does all of these things for an enormous community of over 800,000 users.
eFactor gives entrepreneurs an easier way to get in touch with those who may be able and willing to help make their concepts a reality. By focusing on all aspects of idea development from start to finish, eFactor offers a convenient, cost effective alternative to doing it the traditional way. In many cases, users that otherwise would have not been able to obtain funding and network with experts are now able to do so, which makes it possible for anyone with a profitable idea to finally cash in on it.
eFactor has a pleasant website design. The homepage features an eye-catching blue cloud background that seems to say something about elevating the user’s potential to make a profit off of their ideas. Login and registration tools are located directly on the homepage, easily found without wading through any clutter or annoying advertisements. Overall, the site is neat, clean and professional but not without a bit of unique personality to make it interesting.
A new user can create an eFactor account by clicking the orange “Join Now” button along the right hand side of the homepage. The user is asked to select their membership type, which includes either entrepreneur or investor. Both the investor and the entrepreneur are asked to enter an email address, password, first and last name, phone number, country, and industry. After clicking the terms of service agreement and entering the verification code, the user can click the light blue “Create Account” button at the bottom right hand corner of the registration form.
A new user can create an eFactor account for free. There are no costs associated with being a member and no monthly subscription fees at this time. The site does not mention this changing anytime soon, so for now anyone can become a member of eFactor at no cost. It is really a great way to operate so that an entrepreneur on a tight budget has the opportunity to give their idea a try.
eFactor is ideal for anyone that has a great idea, or those searching for great ideas to back up. The site helps professionals connect so they can work together to turn their good ideas into money making opportunities. The site also includes many other helpful tools, such as a finance request network that works with more than 25,000 investors that may be willing to provide financial backing to a good idea. Users can also check out business services or even participate in an eFactor event, which keeps admission costs low (under $10).