The rush to the crowd as the source to fund projects has left many would be kickstarters feeling “horribly smashed” under high campaign failure rates. Jobs Act provisions released yesterday and new Massulution data say that the 800+ other funding platforms aren’t any better. Something has got to give!
Similar to SEO experts, self proclaimed crowd consultants are popping up everywhere, each one with claims of greater expertise than the next. How can this be true in such a nascent industry?
Bloggers promise that Crowd Funding 2.0 will include integrated idea validation, social network assessment, campaign goal right size planning, staged and simulated funding rounds, pre launch platforms, and a spurry of other ideas all geared to improve the rate of successful crowd funding campaigns. Education is foremost of them.
Crowd based customer and product validation using social networks to expand the reach and feedback sample size is all the rave in Lean Startup circles. Customer Development and staged crowd funding campaigns permit entrepreneurs and artists to right size their crowd funding campaigns consistent with their network and market reach.
Innovation and Entrepreneurship educators are faced with teaching all of this while it changes before their eyes. Gone are the days of teaching the same class over and over again, but my goodness, this pace is making teaching a full time job!
When the pushing crowd was crushing those fans in the front at Barton Hall on May 8, 1977, Bob Weir famously urged everyone to Take a Step Back. The Result was pure magic.