Crowdfunding or crowdsourcing, though having existed for decades, have gotten a new lease of life through social media. In very simple terms, crowdfunding is a process where social crowd and different individuals come together, pool their money and invest in each other.
As we covered in some important crowdfunding tips, crowdfunding has become extremely efficient funding trend now, due to the efforts and brilliant ideas of some very enterprising individuals.
Candace Klein is the ex-CEO of SoMoLend. SoMoLend is one of the first crowdsourcing sites to help entrepreneurs. She has been called one of the most enterprising women CEO’s of the last decade. Although it became very successful in a short period of time, Klein along with her company has ran into some trouble lately.
With Candace Klein enterprising and strong character, and as one of Barack Obama Presidential Campaign-Introductory Speaker, there are something you could take from her experiences.
Jamie Hart is the head of Investor Research and Crowdfunding at Investor Pitch Clinic. They have helped raise funds for thousands for entrepreneurs, till date.
Here what one of his client has to said: “Martin is a Pitch Guru. In a short time, he dramatically improved my investor presentation skills and content. His insights and advice were invaluable” Danny Weissberg, CEO and Founder of Yubitech.
In the real crowdfunding world, pitching is one of the most important skills that separate you from the crowd and get more than what you asked for. Study and knowing the needs is one crucial tactics a new comers should master with. Learn more here about how to fills the Investment Gap With an Entrepreneur-Focused Funding platform.
Michael Migliozzi is the person who gave the most publicity for crowdsourcing ever. He started a campaign to raise $300 million to buy Pabst Brewing Company, but was shut down for violating securities law.
Michael Migliozzi: “It started as a joke in November of 2009. I saw in the New York Post that Pabst Brewing Co. was for sale for $300 million, so I tweeted, “Why don’t we crowdsource this?”Five days later, I launched BuyABeerCompany.com. Within two months, I had $210 million in pledges.
Michael continued: “The joke had gotten serious. Then in March , the SEC contacted me. They wanted my employees’ names, access to hard drives, everything. I began hearing from lawyers trying to ensure it stayed civil, not criminal. This was a social experiment–how was it suddenly a jailable offense? In June, I had to go to Philadelphia for an SEC deposition.” Read the whole stories here.
Even though his campaign was not a success, the campaign gave a much needed boost for crowdfunding, all over the world, on the unlimited possibilities of the leverage and power of Crowdfunding.
Here, you can raise money for any project, including charities. The site also allows people to get the fund even if the donations have not reached the minimum amount, though they charge you a higher amount for that.
The site has become the top 5 crowdfunding website for being accessible to a wider international clients, thus make them one of the top authorities you could learn about crowdunding from. They have also named as Fortune 500 list in the 40 under 40 list.
Watch How Indiegogo Social Entrepreneurs Change the World!
The act boosted the relationship between investors and entrepreneurs. The act later went on to become part of the JOBS act.
Patrick McHenry has the wisdom to provide a solution to capital searching businessman who was facing a failing system, thus been rewarded for the ‘Crowdfunding Visionary Award‘ for his contribution on the JOBS Act.
He is the CEO of Revolution and one of the most popular entrepreneurs in USA according to Forbes. He was also involved in the passing of the influential JOBS act. In April 2005, Steve launched Revolution, a company that seeks to drive transformative change by shifting power to consumers.
One of his most inspired talks that said ‘Most ideas that change the world take a long time to really bear fruit.’
Steve said: “Sometimes you get lucky, like that kid Zuckerberg. But mostly, big-time entrepreneurship is a long slog. For instance, he said, it took 10 years for AOL to break through (as an entrepreneur with a six-year-old startup, I found that especially gratifying to hear).
Jeff Lynn is the CEO of UK based crowdsourcing site Seedrs. Seedrs let people invest in business proposals for as little as £10. They also allow small businesses with less than one year of trading history to raise money through them.
Jessica Jackley is probably the pioneers and one of the most influential women of crowdfunding through social media.
Jessica Jackley is the founder of Kiva, one of the largest crowdfunding platform in the world, a non-profit organization that acts as a crowdsourcing site to low-income entrepreneurs and students in over 70 countries.
She is also the co-founders of the crowdsourcing site ‘ProFounder.com’ with Dana Mauriello, However, due to issues with regulators, they shut down the site in August, 2012.
Kickstarter has made a name for itself in the crowdfunding world by supporting both small and big business projects and by raising almost $851 million in funds till now. They also claim to have successfully funded nearly 50,000 projects since their launch in 2009.
Perry Chen made crowdfunding a popular method of raising funds using frequently used internet viral tools like memes.
Being the person who was directly or indirectly funded the most amounts of crowdfunding projects, his words are one of the best advice any new comers could learn a lot from.
Discover and learn moer about the crowdfunding art and what makes Kickstarter different from other crowdfunding platforms in one of Perry Interviews in economist.
Here’s one of Perry’s most inspired talks ever on the topic “How to Change How Ideas are Funded”
Since we all realize Crowdfunding is supported by a platform which brings together the social media crowd and the project initiators.
It is very crucial to follow the right peoples who has a big impact on the crowdfunding industry thus make your project effortless, and follow this 1 most important Crowdfunding psychology secret.
Any of your input and personal thoughts is going to make this list a better resources for the newbies.