Author Topic: How to best explain P2P to the average Joe?  (Read 2818 times)

ee1x

  • Full Member
  • ***
  • Posts: 124
    • View Profile
    • Email
How to best explain P2P to the average Joe?
« on: May 24, 2013, 06:58:40 PM »
Hey guys. Happy weekend to everyone!

So I've been running into this problem quite frequently over the past year and I still haven't optimized my typical "sales pitch" for p2p. I'll bring it up to a friend in passing every now and then, and I always feel like I lose people's interest quickly when I start gushing about this favorite hobby of mine. What's the most effective way you've found to talk to outsiders about the industry?
Investing since March 2012

core

  • Hero Member
  • *****
  • Posts: 1784
  • Your loss is my gain
    • View Profile
Re: How to best explain P2P to the average Joe?
« Reply #1 on: May 24, 2013, 11:05:50 PM »
Depends on the crowd.  Through a derivative, you're placing bets on whether borrower members will pay.  That one goes over well at the craps table.  Anything else would be inaccurate/dishonest.

flyp52

  • Newbie
  • *
  • Posts: 24
    • View Profile
Re: How to best explain P2P to the average Joe?
« Reply #2 on: May 25, 2013, 12:05:01 AM »
"I make unsecured loans to strangers."  If they still want to hear more I go into details.

AnilG

  • Hero Member
  • *****
  • Posts: 1064
    • View Profile
    • PeerCube
Re: How to best explain P2P to the average Joe?
« Reply #3 on: May 25, 2013, 12:14:21 AM »
I typically start with throwing out a few words like microfinance, crowdfunding, and kickstarter to see if person is tuned into such business concepts and then take it from there. Sometime, if I know person is interested in investments, I start out by asking what returns they are getting and unusual investments they are making.
---
Anil Gupta
PeerCube Thoughts blog https://www.peercube.com/blog
PeerCube https://www.peercube.com

Peter

  • Administrator
  • Hero Member
  • *****
  • Posts: 753
    • View Profile
    • Lend Academy
    • Email
Re: How to best explain P2P to the average Joe?
« Reply #4 on: May 25, 2013, 09:52:27 AM »
Unless I am talking with a sophisticated investor I just go with the basics. It is all about connecting people who want to borrow money with people who want to invest money all done through a secure online platform. People often then ask about returns and I just share my own experience over the last four years. Of course, I point them to this blog if they are even a little interested. :D
Publisher of the Lend Academy blog

See my returns here: http://www.lendacademy.com/returns

Fred

  • Hero Member
  • *****
  • Posts: 1421
    • View Profile
Re: How to best explain P2P to the average Joe?
« Reply #5 on: May 25, 2013, 10:28:34 AM »
"I am a banker."

rawraw

  • Hero Member
  • *****
  • Posts: 2746
    • View Profile
Re: How to best explain P2P to the average Joe?
« Reply #6 on: May 25, 2013, 11:01:04 AM »
"I'm the credit card companies worst nightmare!"