Are some crowdfunding sites a shell game?
I will gladly give you pizza in a few months for a $1 today.
With less than a few hours to go. My very first crowdfunding campaign has come to a finish. As I mentioned last week in Part 1, crowdfunding is just as competitive as finding a job on the internet. Actually finding a job may be easier. You have to promote yourself, the product your selling, the sites your on, the plan, the goals, everything. It’s not like you can just post and everyone will beat down your doors to have your item. If it was that simple everyone would do it. It also doesn’t help if it’s not balanced and fair.
What’s The Shell Game…?
Some crowdfunding sites claim to have certain algorithms that are designed to keep it balanced. For instance, if you don’t maintain certain amounts by certain dates they will remove you from the listings. While this can increase exposure for those getting a lot of attention and slower product falls by the wayside, it’s not fair to those who are trying to gather speed. You’re basically racing against the clock, but the clock is rigged. While they don’t remove you entirely from the site, they remove you out of site from the casual browser of new stuff. The only way for someone to find you is search for your name in most cases. Unless you directed that person via Twitter or Facebook your really out of luck. I interviewed many sites who wish to remain anonymous, or off the record.
“After 4 days, a campaign must have raised at least $10.00 to be found in the browse pages. After 7 days, they must have raised at least $100.00 to be found in the browse pages, After 2 weeks, they must have raised a minimum of $500.00 to be found in the browse pages.”
This ultimately discourages many from making it to the top with some really good ideas. has this discouraged anyone? No! For a chance to get your product out in front of prospects? Are you crazy? It’s sales people! You take that chance and you jump out there with both fists and you sale, sale, sale!! It’s like the lottery, and you don’t see ticket sales drying up there do you? I think not. What is going to surpass Investor shares? Whats going to be the latest craze in finance? Tell us we want to hear!
Some translations don’t always work!
That title made me chuckle. It’s indicative of an MBA students life to anticipate finding a job that is lucrative and sustaining, but is that really the only purpose of an MBA? I think not. An MBA is just another tool in your curriculum vitae of life. It doesn’t just give you the key to the C-Suite, but prepares you for what you need to learn in order to work inside the C-Suite. There is a big difference there if you analyze those two statements. One, its not a master key, its a master degree. Two, you are not ready for the immediate demand that an executive may make look easy. Little do you know that that executive you envy has been knocked around, knocked down, belittled, ridiculed, and even ostracized in front of his peers, employees, and executive staff at one time or another. (Worse if your a Marketing executive) This should not dissuade you from wanting to get to the top as it is paved with many golden rules, and degrees. What an MBA can do is give you the knowledge that is lacking in corporate governance from an ethical and cultural perspective that makes great business thrive. Companies like Mars, Virgin Galactic, and Chipotle know the secret to corporate success by encouraging there staff to better educate themselves. It is still up to the MBA student to use this tool that he or she has spent countless, sleepless hours worrying and studying for.
Harvard is not the best degree in the world. I know many Harvard alums and they all say the same thing. Its Harvard! I say: Yeah, so what? Many people I spoke to in foreign governments around the world, lament about how new Ivy League students don’t have a clue about how business is done outside of America. This is true because many students are looking for a job in a major American metropolitan area, scoring that great gig at large banks and firms. They are not looking to go help a foreign start-up see if they can break into America’s market or help South Korea’s Hyundai thrive in Europe against Mercedes. It’s just not something an American MBA student thinks of. Many talented students are out there, but are not prepared for what lies ahead. Are you ready? Have your traveled to a country to work with companies before your graduated? Did you intern in China, Taiwan, Chile, Brazil, India or any of the other top growing economies in the world? If you didn’t, your not done with learning. It can affect you later on.
Many companies fail to enter foreign markets because they don’t understand the culture in those countries or they fail to partner with companies that already have significant market share there. Send someone that is not experienced to negotiate and you’re going to ruin that first impression. Stay tuned for more!