Thank me later.
Here's a business idea for an enterprising, hard-working genius:
A production company that fully funds a crowdfunding campaign.
Follow me here...
We need to raise A LOT of money. I mean, millions over the next relatively short term. To this end, I've been consistently looking into the best practices for crowdfunding; Kickstarter, Republic, Indiegogo, Wefunder, SeedInvest, OurCrowd etc., and the largest 'issue' is that it takes A LOT of money ... to raise a lot of money. According to some nice folks at some of the companies above that I've chatted with, there's a 4X+ multiple for money spent -> raised.
So, if one wants to raise $200K, then...you get the idea.
But, for a business that's trying to raise mo-nay, to raise mo-nay to raise then more mo-nay is a tough call and effort.
Me: Hey, Mrs. Seed, can you please lend me $100K so that I can spend it to raise then ~$400K?
Mrs. Seed: Wait...you want to borrow money from me, totally earmarked towards that end so that you can then raise money?
Me: Yes.
Mrs. Seed: So, let me follow. You need money to operate your business so that it can grow successfully, right?
Me: Yes, exactly!
Mrs. Seed: So you want to borrow money, NOT to operate the business per-se, but to then raise more money.
Me: Right. Spot on.
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End Scene. The issue is obvious.
Someone needs to run a production company that runs crowdfunding campaigns and take their fee/% on the back end.
Get on that, yo. You're welcome.
#entrepreneur #entrepreneurship #entrepreneurs #startup #smallbusiness #crowdfunding
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