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  • lincolns

    Hi,

    TRU student looking for support and direction on manufacturing a solar powered composter idea he has for the TRU animal health unit.

    ![0_1471468044517_2016-08-17 14.03.30.jpg](Uploading 100%)

    He has a small budget for design, digital drawings and the manufacture of a prototype.

    Jordan is going to come to Hack night tonight. Please introduce yourself you think you can add something to his project.

    Lincoln

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  • lincolns

    Getting Started in Electronics - Forrest Mims
    Vehicles, Experiments in Synthetic Psychology - Valentino Braitenberg

    Lincoln

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  • lincolns

    @hdsheena I think you are right to think about the possibility “loan” not being repaid. I would make sure that those fronting startup cash know this risk. The loan need not be formal, but it just indicates an intent to repay.

    @arasbm If you do decide to give a free month or two based on up front membership, I would also offer that, but as a separate program from the startup loans. If @Bishop loans $1000, and pays for membership some months in advance, then he could be given a month free (whatever your plan is).

    Thing to remember when drawing on prepaid memberships for startup costs, you are making early draws on future months revenue with the anticipation of covering monthly costs with new memberships. In a really simple way if you get 5 $500 prepays and each gets 6 months membership. If you use that 2500 in the first 2 months, you need new members to be covering all the costs after that 2 months as the prepays have already paid for 6 months.

    Prepaid memberships are also not a loan - there is an expectation of service. The safe bet, or what could be described as your (“I always pay my credit card off at the end of the month approach”) is avoid multi-month prepaid memberships until you are stable with an expectation of continued operation. Look for repayable no interest loans/gifts to get things moving, and running on a shoestring.

    Whatever you do, cash flow helps with this projecting of the different scenarios.

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  • lincolns

    I am a silent observer on this list but hope I can throw some thoughts in.

    My recommendation.

    Those in a position to loan Makerspace startup funds should make that interest free loan to Makerspace Society. Those funds are pooled and used by Makerspace Society for base expenses.

    As memberships grows, it will begin covering fully the base expenses. When this happens loans can start being paid back either monthly or in larger chunks by agreement by the pool of people who provided startup loans

    Everyone’s membership price remains consistent across all members; new, old, made a loan, did not make a loan. This means if I loan $1000 I am paying $100 Keyholder price from the start - $1100. I pay $100 every month. When Makerspace is able to start returning my loan I continue to pay $100 membership completely separate from the loan repayments.

    It seems strange to pay a $100 membership and be immediately refunded by the amount of the loan repayment. However, it is not a refund, it is a repayment, and your books need to keep the membership income separate from the loans.

    Last thing. A detailed cash flow will also you to get your burn rate to determine your runway and estimate time to break even. You also need to be able to project forward financial successes and failures as they happen. It can be the difference of “holy shit we are in trouble” and “Hmm this could be a problem four months from now, lets think about a solution”.

    My 2 cents. Please comment and let everyone know thoughts.

    Lincoln

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  • lincolns

    @arasbm I would be interested in seeing it in a version without the fleck texturing as a comparison.

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  • lincolns

    Keep filling as more information is known, and seek out numbers in areas you are not sure of. Looking to other makerspaces for things like membership growth numbers and best approaches to member drives can be helpful. Don’t let staying in above 0 balance bias the projections. @megan you probably have experience or connections for this type of investigation in Winnipeg.

    posted in Tools and Space read more
  • lincolns

    http://makezine.com/2014/05/08/learn-how-to-make-a-makerspace-with-gui-cavalcanti/

    Seems like it is one in a series of articles on starting maker spaces. This has some fine grain details on insurance. For US, but lists things that would be applicable to makers paces in general.

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  • lincolns

    Can I suggest that you put somthing at the KamloopsMakerspace.com root page that describes the goals of the organization, and prominatnly displays why it is something they want to be involved in.

    I when I point people to the site, IMHO, the forums main page does not provide a an “accessible to the many” introduction to the group and the direction.

    I was recently pointed at this Harvard Review article as being useful in walking through the process of up with: Core Values, Core Purpose, BHAG, and Vivid Description. Your landing page would not list this stuff out, but knowing and agreeing on these things makes it easier to put that page together.

    The process takes more than just reading the article. There is a lot of work and discussion reaquired around the process.

    Building Your Company’s Vision.pdf

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  • lincolns

    @meagan I should have let you know about this group long ago. I forgot about your interest and history with makerspaces. I am pleased you and your skills will be involved here.

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  • lincolns

    I have thrown together a google sheet that is skeleton proforma to start adding detail to. Maybe be shared and collaboratively edited. @arasbm is there a way I can give this to you for putting somewhere?

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