Thursday, May 14, 2015
What Entrepreneurs Can Learn From The World Of Crowdfunding - Forbes
I completely agree with Ilya Pozin's (Forbes 5/14/2015) comments. Frankly, too many entrepreneurs have a "Field of Dreams" mentality believing that building a crowdfunding campaign alone will cause hundreds of Investors to hand over their hard earned cash. That's because we only hear of the successful crowdfunding campaigns or the ridiculously stupid idea, that somehow slipped through the crowdfunding platform's vetting process. They all get press coverage.
The reality of Crowdfunding is that people must believe in the team and their product or service before anyone will commit capital to a campaign. It doesn't matter if it's donation based or investment based, investors want to support something great.
Having an honest down to earth team, capable of achieving greatness, who are committed to the company and passionate about their truly unique product or service is what succeeds on OurExchange.com and also every other crowdfunding platform.
Why? Because that's what succeeds in business.