by: neil
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Be the first to discover the power of the crowd.

Echoing the last post by Markus on our blog titled “The Power In the Crowd”, history has shown us whenever there is potential for a significant change in the way certain things have been traditionally done, there is bound to be skepticism and a sense of disbelief. The same applies to crowdfunding which has potential to change the way we look at venture funding and promoting startups which is bound to raise at least a few eyebrows among those who believe the current model is unshakable. We don’t have to look too far back to see how disruptive changes are met with a “that will never work!” remark only to change the perspective of people altogether.

Email came long and they said “this will never work! The postal services will never be effected by this!”

They were wrong

– MP3 technology and downloads started catching like wild fire and they said “This will never work! At least, the recording industry and music business is too big to be effected by it.”

They were wrong

Blogs and online publishing started gathering interest and they said “This will never work! The news networks, books and magazine companies can’t be touched by these amateurs.”

– They are wrong

Crowdfunding is now here and they say “This will never work! The venture capital system is the only specialized source for funding startups and how do they expect entrepreneurs to go looking for funding expecting to acquire them in $5, $10s and $20s?”

They cling on to the idea that a community of common folk can’t fund startups through contributions of $5s, $10s and $20s in startup businesses they believe in. Only a specialized large investment firm can raise the funds and cater to the needs of startups.

Here is some food for thought…

How do the largest public enterprises raise their funds or capital?

The answer is …….in $5s, $10s, $20s in the form of shares and stocks purchased by the larger community of common folk who invest a small part of their savings in businesses they believe in. Perhaps in a few years we can look back and say “They were….”


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neil

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This entry was posted on Monday, July 19th, 2010 at 2:52 pm and is filed under Entrepreneur Motivation. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.