Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street
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Rescooped by Richard Platt from Change Leadership Watch
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Crowdfunding Phenom: Kickstarter CEO Yancey Strickler on Success, Copycats, and 'Broken Promises'

Crowdfunding Phenom:  Kickstarter CEO Yancey Strickler on Success, Copycats, and 'Broken Promises' | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it

The crowdfunding model is now a mini-cottage industry, thanks to Kickstarter, and yes, he's been spoofed by 'South Park.'

Excerpts:

...When did the concept of crowdfunding first click for you?

In 2005. I had these artist and musician friends with day jobs that they hated, but they couldn’t afford to just do art or music. There’s a widespread assumption that creative things just magically happen, and they don’t. Creation requires funding.

    

....(order changed)  Today, millions of people use the site each day, adding up to a daily average of $1 million in pledges (some 70,000 campaigns have launched on the site). 

      

...Are there plans to grow the staff?

Actually, no. I think we’ll get to 100 people, but not much beyond that in the near future. Being a small company [means we are] light on costs, and I like the scrappiness of trying to accomplish a lot with a little. There’s far more shared ownership with a small team.
     
...Are you threatened by ...copycat competitors?

I’ve always known others would copy our idea, but to be honest, we’ve always been the strongest product. ....and for most of our measurements -- dollars pledged, site visitors, project supporters -- there’s a huge gulf between us and the rest of the field.

 


Via Deb Nystrom, REVELN
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Deb Nystrom, REVELN's curator insight, October 16, 2014 1:55 PM

FOR THE WIN:  Spot on great ideas, carried to full implementation and sustained in good faith, with some bumps in the road. Overall good ideas, good will and smart business practices will win the day, says I.   As an consultant, there's a lot to like about Kickstarter, including my favorite value in the work world, "choice."  We have a lot that is industrial age about our still new, burgeoning information age.  Fortunately, Kickstarter the concept, and the reality, is not one of them.

I've also included crowdfunding and crowdsourcing as a community building, ownership trend that field of Organization Development (OD), among others, is ignoring in a digital chapter on its way to publication for Wiley for Practicing OD, 2015 edition.

 

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5 Examples of Companies Innovating with Crowdsourcing

5 Examples of Companies Innovating with Crowdsourcing | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it

"The rapid exchange of data needed to maintain competitiveness demands access to multiple, fluid sources of information.  Crowdsourcing helps this happen."

        

Excerpts, 3 examples:
    

Anheuser-Busch (AB)– The world’s leading brewer, ...sought customer input to develop a brand more attuned to craft-beer tastes. Development of Black Crown, a golden amber lager, combined a competition between company-brewmasters with consumer suggestions and tastings; this project had more than 25,000 consumer-collaborators.


Coca-Cola– Coke now uses a more open business model, assuming an increasingly prominent position in corporate crowdsourcing. Its open-sourced “Shaping a Better Future” challenge asks entrepreneurs to create improvement-ventures for the project-hubs of youth employment, education, environment and health.

ucts more effectively, once again tying social media to co-creation.  


Unilever– Despite its globally-recognized and respected research staff and facilities, Unilever understands the value of collaboration with innovative partners from outside the firm. It seeks external contributions from anyone with useful input into such diverse project challenges as storing renewable energy, fighting viruses, reducing the quantity of sodium in food, creating cleaning-products that pollute less.


Click the title to see the full list of 5.


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Via Deb Nystrom, REVELN
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Deb Nystrom, REVELN's curator insight, February 20, 2014 4:42 PM

Here are some current, corporate examples of crowdsourcing, which is also finding its way to government and non-profits as well.   Some say that anything corporate, or having top-down management of the project or guidance from an external organisation for solely commercial constructs is not crowdsourcing.

Regardless, now that complex, adaptive systems has arrived as a part of the conversation, along with terms like  M4IS2  (Multinational, Multiagency, Multidisciplinary, Multidomain Information-Sharing and Sense-Making)  - crowdsourcing will have a chance to prove if it is a sign of our times, including concepts of creative destruction and reinvention. ~ D

Deb Nystrom, REVELN's curator insight, February 26, 2014 3:12 PM

Here are some current, corporate examples of crowdsourcing, which is also finding its way to government and non-profits as well.   Some say that anything corporate, or having top-down management of the project or guidance from an external organisation for solely commercial constructs is not crowdsourcing.

Regardless, now that complex, adaptive systems has arrived as a part of the conversation, along with terms like  M4IS2  (Multinational, Multiagency, Multidisciplinary, Multidomain Information-Sharing and Sense-Making)  - crowdsourcing will have a chance to prove if it is a sign of our times, including concepts of creative destruction and reinvention. ~ D