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Week 6 Crowdfunding

The theme of this week is crowdfunding. Before Project Community classes I didn’t know much about Crowdfunding. Now I understand that it is a very powerful tool. It can help to make the ideas real. I really like the principal how it works. That anyone who has a good idea, but doesn’t have enough money, can publish the project, and people can donate the money to realize it. So, crowdfunding is one of the best ways to make projects in order not to get entangled in debt for the banks.

Furthermore, in this way donators become like a part of the project and they even can buy the first products. It, also, helps to sort out which ideas are worth to become real and which are not. Moreover, crowdfunding may help to promote the organization. For instance, Kckstarter is visited by more than 9 million people per month. So, at the same time it is a powerful platform in order to spread the word about organization.

According to the article written by Ryan Caldbec (forbes.com) already there are more than 500 active crowdfunding platforms. So, we meet the problem which one to choose. Kickstarter is one of the best-known platforms. However, that makes even harder to get financial support because of large competition. So, our team mostly focused on Globalgiving.org platform, which is more oriented on social problems, cultural life and other aspects of it. Moreover, this platform has a good reputation and emphasizes on transparency. These are some of the reasons why we chose this platform. However, after talking with Nancy White we got a very useful advice that we should not stop after choosing only one platform. So, the best way would be to select several crowdunding websites and compare pros and cons of all platforms.

Also, on Monday we had a Google Hangout with the officer from the Fairphone Company. That was really exciting. It was a real life example, how using crowdfunding platforms they managed to realize their ideas and start a company. Also, it was interesting to hear how important the community in building the company is. Furthermore, to make the project successful it is very important to prepare good campaign material like video and the all story of idea. For donators it has to be clear what the values of the project are and why should they donate.  

Another theme is crowdsourcing. It is an effective way to get the best results. For example, if I need a logotype, I can start a contest on the platform like freelancer.com. After I get many submissions, I can choose the one which suits me the best. That’s how it works. Also, there are other ways how crowdsourcing works.  For example, involving customers and getting feedback is a good way to improve services.

The main advantage is that you can use the mass intelligence, because it can bring a bigger variety of suggestions and ideas. Moreover, by sharing tasks to the mass, works might be done in a shorter time. Also, in websites like freelancer.com people can get services for a lower price than hiring a professional designer. However, you can’t be sure about quality you get. That’s the main disadvantage.

In conclusion, using crowdsourcing and crowdfunding we can make our ideas real and visible. All the success stories based on crowdfunding platforms can just prove it. 

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Posted in Community, Group 3
This post was originally published at the Project Community blog: Ideas of Viktorija
One comment on “Week 6 Crowdfunding
  1. shahab says:

    I agree that donators will become part of the projects and it brings a huge responsibility for the companies to really achieve what they have promised.

Group 3 Blogs
  1. ▲▼▲ awesomeidontgetit.tumblr.com
  2. Ideas of Viktorija viktorijapiau.tumblr.com
  3. le trait de génie de lucie luciepauline.tumblr.com
  4. Michelle's Project community course michelle1794.tumblr.com
  5. Mikey Taylor's Innovation HQ mikeyjoshuataylor1.tumblr.com
  6. Mondayly by Fer mondayly.tumblr.com
  7. The 3rd Project kikideurvorst.tumblr.com

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  • Nancy White { I appreciate that you included client liaison - I think this is often forgotten. Good catch. What advice would you give next year's students please?... } – Dec 18, 5:53 AM
  • Nancy White { Fun visuals! And right to the point. I think you are practicing your design principles! 🙂 Thanks for being part of Project Community Nancy } – Dec 18, 5:52 AM
  • Nancy White { I loved this piece of advice "Nobody will spoon-feed you the content of the course, you have to make your own experiences but you get... } – Dec 18, 5:51 AM
  • Nancy White { I love that you used your own photo! But more important, I appreciate the clarity of your description of what you have learned. WONDERFUL! Thanks... } – Dec 18, 5:49 AM
  • Nancy White { OK, your tips are the most practical ones I've read so far. WONDERFUL. Thanks, Fer. Thanks for being part of Project Community Nancy } – Dec 18, 5:46 AM
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