How Crowdfunding Can Work
Great Josef Holm post on Krowdster about why crowdfunding campaigns fail also shows why and how they can work. Easy? Not even a little bit, but crowdfunding is an important new marketing channel.
|Current selected tag: crowdfunding. Clear.|
Your new post is loading...
Your new post is loading...
Crowdfunding Where BUZZ Lives In Time For the Holidays
* Crazy Guy / Girl in basement is a compelling aspirational story.
Know thyself is great Internet marketing advice and this post helps explain how to define your Unique Selling Propositions and Unique Customer Aspirations.
|Suggested by pooja gala|
Wishberg, a startup that lets users share a "bucket list" of their goals, announced that it has raised $150,000 in seed funding from India Quotient, a venture..
India seems an appropriate place for funding this cool idea. Another form of crowdfunding. Crowdfunding aspirations :). M
November SEC ruling makes crowfunding stocks closer and the ruling changed the game:
"The law changes the landscape," said Shmerling, InCrowd's chief executive officer.
Federal lawmakers included crowdfunding in the 2012 Jumpstart Our Business Startups Act as a way to ease financing to small businesses. The SEC's proposed rules will be open 90 days for public comment.
While companies will be capped at raising $1 million per year through equity crowdfunding, Shmerling said it's an option for startups looking to raise under $100,000 to create an initial concept, prototype or business model.
All startups need money, unless the owners are loaded. Where does that money come from? From fundraising efforts, both offline and online. Online fundraising is a lot more effective because of its sheer reach. Here are several tips for startups on how to obtain crowd funding for their projects.
13 great tips here and about half of them are just great internet marketing tips.
Crowdfunding is on the rise, and Kickstarter is leading the pack. Not only is the trend increasing but, it I’ve noticed that the word “kickstart” has replaced some of the actual terms used when referring to other areas of crowdfunding.
over 5 million daily visitors3700 ongoing projects funded$18 Million of fundingMultiple projects cross the $1 million thresholdFilm and Video, Games, Music, and Technology are the largest Categories
About 400 firms have stopped investing or gone out of business since 2000, by one count, but VCs are optimistic about the next 18 months
Is VC As A Concept Dead Man Walking
Interesting article noting the steep decline of VC firms without a related decline in the number of startups. They credit the movie The Social Network (strange).
I think the costs of starting a company are declining fast as OPP (Other People's Platforms) help entrepreneurs get started and prove a MVP (Minimal Viable Product).
The article also notes an increase in angel investing. I would add alternative forms of financing such as bootstrapping and crowdfunding. Throw all of these ideas on the wall and one has to wonder if the idea of Venture Capitalists is either over about to morph into something other than what it has been.
You might know Stuart Ashens from his wildly successful (and hilarious) YouTube channel: http://www.youtube.com/user/ashens He's currently running a campaign...
Crowdfunding Is Marketing Now
Scooped a post yesterday about #Startups using Contests and Games to sidestep traditional PR. Sidestepping is necessary because "traditional PR" lies in tatters on the ground. Crowdfunding isn't crowdfunding.
I had a good friend complain that it would take him as long to crowdfund as to raise money for his startup with VC. I didn't think of it at the time, but the correct comeback is, "Don't think in OR think in AND".
We tend to zero sum everything. Don't think of crowdfunding as zero sum, you do it INSTEAD of something else. Think of crowdfunding as an AND. You create crowdfunding AND you distribute a press release AND you create a social campaign AND so on.
What I love about the Pebble Watch crowdfunding campaign on Kickstarter is not that they were able to raise $11M, though that is pretty cool. I love the way Pebble used OPP (Other People Platforms) to solve every startup problem from distribution to celebrity endorsements.
Crowdfunding your marketing forces a level of creativity it may not achieve without the exercise of crowddfunding, so don't think of crowdfunding as crowdfunding think of it as one of the very important tactical "AND" moves in your marketing plan.
3 Books for Startups
This is the order we would read these books in AND we would read them all since each speaks to a different aspect of a startup's journey.
Bold: Go Big or Go Home
We are starting this list of 3 books for startups with Bold: How To Go Big, Create Wealth and Impact the world because it has the best crowdfunding summary we've ever read.
Since finding money is usually the #1 issue most startups face and many have questions about crowdfunding read Diamandis & Kotter's book first. Chances are, if you are a startup, you are already "thinking exponentially", but this is a great and inspirational read.
The section on preparing your psyche for the exponential startup journey is another standout mustread for startup entrepreneurs.
Tilt: Shifting Your Business From Products To Customers
Tilt is another great startup read. Niraj Dawar has the shift from products to customers SO RIGHT. He even knows why its so hard to change our thinking from How Much More Can We Sell to What Else Do Our Customers Need. If Bold has the best crowdfunding summary we've read Tilt describes marketing's hard to change muscle memory. Go downstream if you want to win.
Start with Why: How Great Leaders Inspire Everyone To Take Action
Every business starts with a passionate why. Some like Tom's shoes, Zappos and Amazon know and don't lose their why. Some companies such as Walmart, Kodak and Xerox lose or have their why get fuzzy. A bad rain falls when your lose your WHY or your why doesn't evolve, respond to feedback and grow. Just as important as the Lean Startup by Ries Start with Why should be a compulsory read for any startup.
The common elements to all three of these books are:
* Share your honest passion and be all in.
* Think BIG and DIFFERENT and prepare yourself for pain such thinking brings.
* Focus on customers and LISTEN and don't get too attached to anything.
Remember Ferris Beuller's words:
Ferris: Not that I condone fascism, or any -ism for that matter. -Ism's in my opinion are not good. A person should not believe in an -ism, he should believe in himself. I quote John Lennon, "I don't believe in Beatles, I just believe in me." Good point there. After all, he was the walrus. I could be the walrus. I'd still have to bum rides off people.
Stay OPEN and read, read and read some more. Good luck. Marty and team http://www.curagami.com
IgnitionDeck is the world's most popular WordPress crowdfunding plugin. Includes free WordPress Crowdfunding Theme. Integrates with Paypal, Stripe, Mailchimp.
At our starutp @Curagami we've been fascinated with the idea of "enterprise crowdfunding". This idea fascinates us because:
* Crowdfunding content is highly social.
* Social Shares - Content is supported by entrepreneurs social net.
* Crazy Guy / Girl In Basement - content is buzz worthy.
Ignition Deck's wordpress plugin means its easy to add crowdfunding to your site. Yes, you give up the "featured" aspect of having your campaign promoted by a big gun like Kickstarter or IndieGoGo, but you gain control and the SEO juice comes to YOU and YOUR SITE not them.
Ethan Mollic's Dynamics of Crowdfunding study showed what we expected:
* Most campaigns get funded by entrepreneurs own network.
* Most campaigns JUST MAKE their funding goals.
* Campaigns that have 25% in first days are 80% likely to meet their ASK. * Even small crowdfunding sites have high PageRank.
That last bullet is because crowdfunding sites benefit from the Facebook effect - create the environment and have everyone else provide the content and links. If most campaigns are funded by YOU anyway using a pluggin like IgnitionDeck may make sense.
Where it REALLY makes sense is at the enterprise level. Our Curagami customer Moon-Audio.com can create a "board" asking for new headphone, headphone amp and audio gear ideas from their Ambassadors and other visitors.
IgnitionDeck looks like a winner. We plan to investigate further and report back on http://www.Curagami.com . Thanks to Mark Foulkrod at Atlantic BT in Raleigh for the share.
Bunch O Balloons Featured on TODAY Show This morning!
Bunch O Balloons, an easy to use time saving water balloon invention, may make $1M on Kickstsarter thanks to great crowdfunding marketing and the new SEO. Team Curagami is in Charlotte at the Search Exchange Conference.
This Curatti post combines a fascinating new tool set capable of making "Editors of Chaos" come true and the story of how a crowdfunding project goes "mega-viral".
Marketers are always trying to finding ways to create viral conversations with social media. Here are 10 tips to tap the power of crowd sourced marketing.
It is possible to crowdsource virtually everything you do, think, or are thinking about. It takes TIME and the right tools, but benefits are huge and line up well with Lean Startup ideas.
If you love using Scoop.it we have a job for you. CrowdFunde, a Durham NC startup, is searching for the top 10 content curators in the world. CrowdFunde is a new company dedicated to helping websites, brands and companies tap wisdom of crowds.
And we need 10 great content curators to help!
If you are a great content curator we want to recognize your contribution, pay you to do something you love and include you in a cool new company about to change the way ecommerce merchants create content marketing and the way content marketers know what content to create.
If you are a great curator we hope you will apply at CrowdFunde.com
Love It When A Plan Comes Together
And new #startup http://www.crowdfunde.com is coming together. Working on homepage desings, have a meeting with Smashing Boxes on Friday and plan to apply for Triangle Startup Factory's Spring Term.
Hope you will JOIN us as we try to honor our "process is product" new marketing suggestion and share everything in places like this:
Waterboarding or Business Plan Reading
I "retired" from my Marketing Director post at Atlantic BT last week to start my fifth company. Yes that's right the Shuffle Board World Championships will have to wait a few more years as we try to build a new tool to help B2C and B2B content marketers tap a rich new vein of User Generated Content gold - "enterprise crowdfunding".
Yes we realize "enterprise crowdfunding" sound like an oxymoron, but we think crowdfunding will become a new marketing channel for e-retailers and B2B content marketers. Our plan is due Monday. If you would like to be a "reader" and pass up the waterboarding let us know and we will make sure you get a copy of the Crowdfunde business plan.
All ides, comments and suggestions are much appreciated no matter how much we disagree (lol). Marty
What time of year, week, day is best? This is a question I am often asked at workshops. There is of course no one answer but here are some questions you should ask yourself. When do you need the mo...
Agree with this post. You might think crowdfunding around Christmas would be great. Not so much since there is so much NOISE and competition for every dollar.
Can you tell a great story and still get crowdfunded in 4Q? Sure, but exceptions make rules. The possible exception may be nonprofits whose donations would be tax deductible.
Even then every nonprofit is aware of the end of the year rush to take advantage of tax deductibility and because people feel good will toward each other during the holidays (or that is the theory :).
My preference would be to come in after the first of the year. Wait too long and you miss planning cycles, go too soon and you can get caught up in New Year's resolution and post-holiday assessments.
My second time would be dog days of summer. That timing may seem strange, but after July fourth nothing much happens until back to school begins in mid-August.
The other lesson I learned by launching http://www.curecancerstarter.org, our crowdfunding cancer research website, is to seed your campaigns. Launch when you have 25% of the funding set.
Seeding creates a sense of momentum and excitement. Most crowdfunding campaigns start strong, bow in the middle and then finish up strong (as they head into deadlines). Saw a stat on Kickstarter that campaigns with at least 25% in by the end of the first week have an 80% chance of being funded.
Have a "funding party" and line up your donors on a "roll call" count basis. If you are asking for $10K, and most Kickstarter campaigns are funded for $10K or less, then make sure you have $3K (or so) in the campaign in the first few days.
YOUR list is very important too. Your list is the key to reaching "friends of friends" (or people you don't know). Great to think your idea would be picked up by the NYT, but better to work your list and ask for two things:
Advocacy (with their friends).
Make giving both of those as easy as possible.
Find more #crowdfunding tips on GPlus:
Scooped here: http://sco.lt/9GA5Sr
Thank You STARTUPS and FOMs (Friends of Martin)
That is me yelling at my doctor in the video image above (lol). Dr. Han van Deventer's Fibrocyte cure cancer research is now 45% funded after only a week on our brand spanking new #startup CureCacnerStarter.org (http://www.curecancerstarter.org).
THANK YOU to my friends who run, are creating or want to create a new startup. Your support, ideas and encouragement is why we got HERE. And HERE is pretty cool
Here is using the web to help cure cancer. It takes COURAGE to step up and use a new idea (bumps and strange things like wiping out your donation choice and moving it back to $5 after you save a creditcard). We are working on the car as we drive it, but to see people who have the courage to STEP UP and do something HERE AND NOW to change the world is inspiring.
There are 4 other great cancer research campaigns on our startup too:
Brain Cancer Vaccine From Roswell Park
Vitamin D & Lung Cancer From Froswell Park
Creating A Reolution In Colorectal Cancer Care from UW Carbone
Saving Generations Of Lives In Malwai UNC Lineberger Cancer Center
YES would be how most people would answer this question. If you could change the world in 5 minutes for $50 would you? Hope you will join the brave dragon fighters that have already answered YES.
Thanks to my fellow startups for your support!
BTW, 100% of all CureCancerStarter.org donations go to cancer research. No house money here as we are funding with my Atlantic BT Marketing Director salary and a generous grant from Atlantic BT, best damn website and software developers on earth (or the southeast anyway :). Marty
|Rescooped by Martin (Marty) Smith from Business and Economics: E-Learning and Blended Learning|
I recently found this great interview that Mark Suster did with Clayton Christensen, who is without argument, the master of disruption.
Disruption In BSchool Education
Most of this talk is about disruption in education, but Christensen is the "master of disruption" and this conversation with Mark Suster is fascinating for Internet marketers.
Lack of technological core means an industry can't be disrupted. Education was in this boat for a long time. Online learning brings to education a "technological core" matched with pricing that has lost touch with reality means disruption is possible and likely.
Online learning and corporate learning programs are killing Harvard Business School. Christensen says half of the University business schools are in trouble and will be forced to get with it or close in ten years.
Fascinating discussion of Apple & proprietary architecture at 10:33. The inevitable opening of a once proprietary operating system means prices fall and the money is made in "sophisticated manufacturing". "It really is scary," says Christensen about the loss of sophisticated manufacturing.
He goes on to blame business school for looking to layoff costs because of the way we teach people to measure things.
Another fascinating conversation about Fremiums at 14:30. "As a general rule if you have a product that doesn't get the job done you have to offer it for free," with Suster weighing in on charging for services. Modularity drives commoditization and that drives profit out.
Free usually means there is money to be made, "Above and below and you can invest or be an entrepreneur there and you can make money". Suster then talks about Venture Capital disruption and crowdfunding at 19:50.
Royalty Capital = movement in Boston to license capital as a way around limitations of venture capital at 24:00. When revenue starts there is a royalty rate returned to the capitalists. Fascinating alternative financing experiment going on in Boston.
Mother Of Crowdfunding
Attended a great class on crowdfunding with Candace Klein from SoMoLend.com. Candace is a new breed of startup entrepreneur. This new generation is comfortable with COPE (Create Once Publish Everywhere), live at ever increasing speeds to create, give away and create again.
Too cool. Candace has many lessons for entrepreneurs, Internet marketers and crowdfunders.