A: I’ve built this site to help attract a single investor willing to put funds toward my continued education, in return for 10% of my net income, for a period of 4 years starting the day of my first full-time job post MBA, to be paid at the end of each 12 month period.
A: No. The auction ended at 13:00 CET Monday December 23, 2013. The winning bid was for 21,000.00 Euro.
A: I have already taken out a loan with a financial institution in the UK. Six months after I’ve finished the MBA programme, I will start repaying my loan to the financial institution at a rate of 715.12 Euro per month - that leaves plenty of space for this auction.
A: Unfortunately, no. I’ve spoken with the all members of my close family, and none of them have the means to help me out.
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A: My expenses for the year break down as follows -
Tuition fee: 59,500 Euro
Programme fee: 1,450 Euro
Accommodation: 12,000 Euro
Meals: 5,500 Euro
Local transportation: 1,800 Euro
Books, stationery, etc.: 800 Euro
Laptop + Hardware + Software: 2,050 Euro
Telephone: 600 Euro
Travel for exchange and job search: 3,000 Euro
Storage: 930 Euro
Miscellaneous: 2,370 Euro
Total: 90,000 Euro
A: I want to accelerate my career into general management within the business-IT space, the networks I will build and the exposure I will gain at INSEAD lead directly towards this goal. The first step to reaching my objective is building a foundation for the continued development of my skills and insight. Since early 2001, I’ve served in the intersection between business and technology, operating, developing, deploying, and anchoring solutions to the challenges businesses and institutions face. Now, I need to expand my toolbox and deepen my understanding of the strategic challenges enterprises face - the INSEAD MBA programme will provide the necessary competencies.
A: There are a couple of reasons. Because I currently live and work outside the US (no Lumni, no UpStart), I am not a US citizen (no Pave), I haven't lived in the UK for three years yet (no GraduRates, no Zopa), I am seeking to finance my own education (no Kickstarter), I am a person and not actually a business (no FundingCircle, no SeedUps), and I need to secure a sizeable amount (no Kiva), these channels are not open to me.
A: The calculation of my net income won’t start until I’ve secured a full-time job, so any time spent taking a short vacation post-MBA will not impact the volume of the payments, only their timing. Also, according to INSEAD’s statistics, 94% of MBAs have received at least one job offer 3 months after graduation.
A: Even if I were to come out in a job that pays less well, with my current lifestyle pre-MBA I would be able to afford making the payments described the expected Cash Flow table. Moreover, I guarantee that my payments to you will be at least your winning bid and additional 10,000.00 Euro, even if this means I have to pay you more than 10% of my net income. So if your winning bid equals 17,000.00 Euro, I guarantee that I will pay you back at least 27,000.00 Euro over the agreed time period, no matter my income.
A: During the life of our agreement I will maintain a personal life insurance policy with you as the sole beneficiary, to the sum of 67,039.41 Euro.
A: During the life of our agreement, I will provide you with relevant financial statements and payslips as proof of my net income. Additionally, if you want, we can split the cost of a third party accountant or auditor.
A: You will receive 10% of all net income that is paid out to me, including sign-on, performance based, and other bonuses. Any contributions to my pension are exempt from the 10%. You will not receive 10% of the value of a car, telephone, or similar made available to me - but I can give you a lift if I’m in the neighbourhood. Further, you will not receive 10% of any other assets I acquire as compensation for my work or otherwise.
A: Muhammad Ali’s early boxing career was funded by a group of backers who paid for his training in exchange for a share of his winnings. Tournament poker players are regularly staked by investors. Creative work is often funded in a similar way. Publishers advance authors sums of money and take the vast majority of the profit until the advance is recouped. It’s like Jay-Z said: I'm not a businessman; I'm a business, man.
A: My ideal investor is sensible. It's someone who wants a return on their investment - and wants it from me. It's someone who will feel an additional value from the agreement, specifically because of its curiousness, uniqueness, and structure. My ideal investor will appreciate a solid return on their investment.
A: Yes, but that would require you to have a bank account with an institution where there would be no transaction cost for me, when transferring the money. I will bear the cost of the once annual transfers.
A: Yes, I’d be happy to make the payments to whomever you designate.