Crowdfund review


As an IB graduate, I’m blessed/cursed with the constant habit of critical thinking.

Yes, it’s quite contradictory because I’m all for positive thinking, being optimistic and looking on the bright side of things.

But humans are awesome in such a way that we are perfectly capable of encompassing two contrasting traits at the same time.

Back to the point.

So I attended my first ever crowdfunding event called crowdfundher live.

Throughout the event, my brais mentally telling me how the events could be held better, the pitches could be made better.

It’s not that I think the event was bad, it’s just…there’s always room for improvement.

So here, I shall word vomit what I think are improvements that can be made.

Firstly, a better emcee, I’d enjoy the event much more if I didn’t have to strain my poor ears and brain as to what the emcee had to say. He was soft and I’m sorry, not being racist, but his accent made listening a little tiring.

Second, the whole set-up. I couldn’t see the presenters because of the heads of people in front of me, there weren’t nearly enough chairs for everyone. When we came in, we didn’t know if we needed to register, where could we sit, we were lost… So yes, set-up could definitely have been better.

Third…actually I’m just going to screw numbering my suggestions.

The pitches themselves.

I feel incredibly guilty that I found a local distillery more worth my money than malnutrition kids in third world country.

But that’s the reality of crowdfunding, your passion and story.

Not everyone’s a brilliant storyteller, but damn well make sure that whoever is standing on that stage speaking for you is a good storyteller.

Logically, I can appreciate the Chain Reaction Project’s idea, and pledging 25 bucks, the money I use on one-two good meals, to help suffering children is totally worth it, but my heart just won’t let me spend that money.

Because I felt no conviction and passion, I didn’t feel that my money will be going into something worthwhile.

And it’s only because the story was lacking.

Here’s what I would’ve done.

I would start telling the people about myself, about my desensitized, apathetic self. Everyone can relate to that. Then I’ll go into that day when I went for the bike cross country in this desolate city and rode by children who were malnutritioned and thought nothing of it. Until I met a woman. This woman had a belief, had a dream, a vision. She was fighting a war. I have so many things that this woman didn’t have and yet there she is doing something that I can do better but isn’t doing. Don’t we all want to be so much more than who we are now? Don’t we all want to be able to make a difference? Ironically, making a difference isn’t as hard as we all think it is. I realized that I could help her in her war, with less effort than she’s putting into it, and you can help us win this war with just a lift of a finger. And it won’t cost you anything more than your day’s worth of lunch money. You can make difference, and make a change, and all it’s going to cost you is 25 bucks. But I know your money is important to you, no matter how little, so you deserve to know what sort of impact those few dollars you are pledging will make. And know this, they will make a huge difference.

Of course at this juncture and I can tell them that their money goes into seeds and gardens, but really it’s a lot more than just seeds and gardens, its empowerment. You’re teaching these people how to be self-sufficient, you’re investing in enabling these people to be independent again. At the end, you just need to emphasize that all it takes is just this little bit of your money, to make a lasting difference to 360 people’s lives. I think a good chunk of people would gladly fork the cash over.

Really, content wise what I just came up with was exactly what the kind lady said, I just made use of this skill called story-telling so people can relate, feel the buy-in and support it. That’s what crowd-funding is about isn’t it? Buy-in?

The distillery lady had a much more passionate speech, and it helps that I like cocktails and liqueurs. The emcee had a brilliant idea that these local liqueurs would make great and practical souvenirs, and I can’t agree more. However, Singapore has such high alcohol tax, they would need to sell a lot more bottles of their liqueurs at a much higher price to be sustainable. So yes, a mixed B to B and B to C model is a good idea to divsersify the market , but there needs to be incentive for the consumers to use your product besides the fact that it’s unique. I will buy a unique liqueur once and try it out of curiosity, but I won’t buy it again because…well if I wanted to get drunk, there are cheaper and faster ways. Of course real liqueur lovers will simply support high quality alcohol, but Singapore is a small market, a fan won’t buy in enough quantity at the necessary frequency to keep the business sustainable. I really think they should look into marketing these liqueurs to have greater purpose than just for cocktails and drinking. Or make making cocktails and drinking something easier and more accessible to the everyday person. Because if I can make simple but cocktails at home for my friends who come over, I won’t mind stocking up on the necessary liqueurs, the cost is justified; plus, I can also make interesting deserts. Sure, not everyone’s the ‘host’ type, but that’s an additional market segment. *shrugs*

Fashion…oh fashion. I really thought foxtrot had it going there with their padded, slightly more ergonomic shoes but really, the pads aren’t in the right places. So dear entrepreneurs, the gap is still there, comfortable humane heels, go invent and wait for cash to flow in. And though her concept of affordable clothing for real women was great..the quality was…meh..and her designs…not so much for real women, Unless real women all look like lithe french ladies. And there was no niche! Are her designs somehow more functional for real women? Breathes better? Helps prevent odour? Stain resistant? Does it flatter real women more? If so, use real female models, not model models.

Finally, family photo repository.

According to google, repository is where you store stuff.

So basically, it’s a self-curating, photo back-up app.

I can see the lazy but photo loving parent and families gobbling it up.

Personally? Design interface can be made better. And as usual the pitch could be more…relatable. I’m sure there are many parents in the audience, whom, while spending all their time and efforts raising their children, missed out on documenting these moments. Or if they did manage to document it, no one has the energy to sort through the millions of failed shots. And when it comes to christmas and gatherings, you want to share the moments, to look back, and you realize, you can’t because there isn’t anything to look back to. Of course we’d all want to be one of them parents with the scrapbook of baby photos and memorabilia, but ain’t no body got time for that. Well, now you don’t need to because an app does it for you!.

Yea.

Honestly, there’s no fool-proof business idea, there’s only great marketing (storytelling) and great execution. Miss out either, and also a good bit of luck, businesses won’t succeed.

But of course, it’s always easier to criticize others than to do things yourself.

God knows my own ideas are full of loop-holes.

It’s no wonder why my mom always asks me to get a job as a consultant.

You get paid to give suggestions, ideas and criticism and not be responsible for any of it.

Advertisements
Crowdfund review

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s