Crowdfunding Site Profounder Shuts Down
Just got the news this morning that a crowdfunding site called Profounder is shutting down. A far as I know they never really got going but it’s still sad to hear about the loss of a prospective member of the community.
There is now a group that lobbies for crowdfunding that supporters should know about.
Crowdfunding Can Perform Miracles
Just three weeks I read a heart-wrenching story on Reddit.com about an attack on a defenseless orphanage in Kenya by some thugs. I’m not sure of the details but somehow the story ended up on Reddit with a graphic image of a man named Omari who had suffered a machete wound to the head while trying to protect the kids. The wound put him in the hospital for two days and required major stitching. (Don’t click that unless you can handle grisly wounds.) Omari and his Reddit associate then asked Redditors, who have raised money before for various good causes, to donate $2000 for a wall to protect the orphanage.
Long story short, within about 24 hours over $50K had been raised to build the wall and help the orphanage out in other ways. At last count, over $80K has been raised. Continue reading
The Entrepreneurial Spirit
This is about a real life Zelig and the entrepreneurial spirit.
Do you really need to fake it till you make it? In my humble opinion, the answer is yes in the majority of instances. This is especially true if your startup is a B2B business. Existing businesses rarely gamble on the new kid no matter how low the quote is. There’s simply too much at stake for everyone from the purchasing agent on up to the CEO.
This can also be a factor in B2C businesses. Ask yourself if you would trust a lawyer, doctor, or accountant fresh out of school. Chances are high that you wouldn’t. Nobody wants to be a test guinea pig for a stranger learning on the job.
How do entrepreneurs, deal-makers, and startups get past this credibility obstacle? They fake it till they make. Basically, they puff up the business to make it appear larger and more established than it maybe in reality. If you know what to look for you will see that everyone does it to varying degrees. The most successful entrepreneurs are experts at this game. Continue reading
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