What can the Chinese disciples learn?

From hand-to-hand combat to devotion, these days, the internet giant and the traditional financial big guy ' fight ' is called a fiery. The ubiquity of Peer-to-peer network lending has been dizzying, ' public-chip mode ' has set off another big wave of the Internet financial wave. From 2011 onwards, Kickstarter, Indiegogo of Chinese disciples: roll-call time, dream nets, everyone cast etc on the line; then, Shanda, the net letter finance these big guys also come over to mix. For a time, we also do not ' step on the illegal fund-raising red line ' this thing, anyway, no matter is playing the pretence of group buying, or affixed with the ' idealism ' label, I first take up the road son to say!

So, what is the opportunity for the public to raise in China?

According to the World Bank's latest report, China will become the world's largest investor in 2025, making nearly half the money (45.9 billion to 50.1 billion dollars) for the market, which is expected to be $96 billion trillion. What's the concept of 96 billion? This is nearly twice times the total global venture capital last year!

A few days ago, with an unlimited outlook for China's public sector and a pile of big question marks with Chinese characteristics, small series visited the world's most popular platform Indiegogo in San Francisco's headquarters, exclusive dialogue with international marketing director Liz Wald. Compared with Kickstarter's closed culture, Indiegogo doesn't mind my call. In an office that resembles a ' post-modern factory workshop ', Liz generously shares Indiegogo's understanding and outlook for the public-chip model. The 20来 team hopes to Indiegogo the existence of the public to promote the development of the whole world, and truly realize the democratization of fund-raising. "We want the public-chip model to be successful all over the world, Indiegogo welcome anyone to use our platform, and don't mind the Chinese platform to learn from us," Liz told me.

Figure Note: Indiegogo Open working space.

The following, small series to the Chinese public to raise the cause of the content to share to everyone.

To the Chinese disciples of the public.

When ' pre-consumption ' becomes a fashion

A lot of hardware single on Indiegogo (similar to Scanadu Scout), and attracted everyone to associate the ' platform ' with ' hardware revival '. Liz told me that it is understandable that people think so, just don't forget, science and technology/entrepreneurial project is just a platform for the N-one tentacles. For Indiegogo, the items put up are grouped into 3 categories, 1 startups/inventions, 2 creative/artistic, 3 other personal dreams/social projects. Your project could be to invent a futuristic portable medical device, or to create a bluegrass harmonica album, or to help a neighbor mend a house that has been hacked by Thunder. In short, all these projects have been Indiegogo equally. According to Liz, from the quantitative point of view, these three categories accounted for One-third, there is no entrepreneurial projects a single show phenomenon.

In her view, the public-chip model has made ' pre-consumption ' a fashion; "Everyone enjoys this consumption pattern; The material return is only one thing, we should not understand the consumption connotation of the platform in a narrow sense."

So, what are the motivations behind a public-funded project? Liz summed up the following 3 reasons.

1 want material return.

(for example, I just like the smart watch you make, want to buy it, do not mind ' pre-consumption '.) ）

2 appreciate you and want to help you.

(for example, you want to melt money to practice in India; see you through the video to express your ideas, I appreciate you, as a friend, willing to help you realize your dream.) ）

3 Like your values, it makes sense that you do it.

(for example, you want to ' ask Starbucks to get out of the Forbidden City ' and think that there is this café in the Palace Museum is a waste of Chinese traditional culture. Although I am from England, and the Imperial palace in Beijing 108,000 miles apart, but I support you this act of defending the national culture, hope to help you complete the mission. ）

Perhaps you think Liz's idea is too idealistic, the public good taste so heavy, in China can do it? But the small part thinks, this intentionally or unintentionally public welfare spirit perhaps is Indiegogo's commercial pushing hands. You want Ah, now do what all talk about ecology: the platform of pluralism and human injection, this is a powerful tool to amass popularity! Ecological ' prosperity ', still afraid of those big money projects do not come over?!

Establishing the culture of sincerity and defending platform security

In China, where people are involved in the fundraising, the ' half ' component always seems to be on the line. So, in the end, how can we guide Chinese people to participate in the public with a more open mind? When asked what suggestions are being made for China's Home-grown platform, the two points are crucial to maintaining the authenticity of the project and building the trust of the platform, Liz said. "The perfect website Service rules, dedicated team responsible for user experience, clear and transparent legal establishment and policy provisions ..." All these contribute to the establishment of a good faith culture. Liz thinks that the Chinese are no different from the old beauty, and have a ' material return ' outside of their consumption needs. With the strengthening of trust, more and more Chinese people are willing to put all kinds of novel ideas on the platform, over time, the consumer content must not only be ' profit ' so simple; everything is just a matter of time.

When it comes to legal protection, President Barack Obama signed the Jobs Act last year, adding exemptions to the public offering, allowing startups to raise equity financing for the general American community. Under the bill, the largest amount of money raised is $1 million trillion. The investment amount of a single investor shall not exceed a certain proportion of its annual income or net assets (for example, a person with a yearly income or a net asset of less than 100,000 dollars may invest in the amount of USD 2000 or 5% of annual income/net assets).

We in China can also draw on the US Jobs Act to regulate the pattern of public financing, according to the different assets of investors to distinguish between treatment and so on. In a word, the development of internet finance is much faster than everyone expected, the enactment of relevant laws and regulations is a matter of time, and Jobs Act can be used for reference; believe that China's public-chip model does not have to tread on the ' illegal fund-raising red line ' too long.

to the founders.

What else can I bring you besides Chan?

As a smart entrepreneur, Liz tells me, it's not just about the money you get: Customer feedback, market validation, data analysis ... Through a public financing, you can understand that customers prefer red or blue, more willing to pay for which price, the price of the elastic curve is likely to look like and so on and so on. "You take the money and all this information to see the investors and tell them, ' There's 5,000 people who gave us 2 million dollars to buy this nonexistent product ', and it's hard to be convincing," Liz said.

With the information you get from the herd, you'll get better bargaining terms from investors and more money. "You know, Scanadu just got 10.5 million dollars, and I'm sure that if they hadn't gone through the 1.6 million-dollar fundraising process on Indiegogo, it wouldn't have been that much money," Liz said.

"15 years ago, because of the cost, you may not be able to make a prototype of the site before the financial investment, all by your mouth to sell to investors; but today, if you take a PPT to see investors, say you want to be a social network, they must think you crazy, hehe. I think the first thing that future investors will ask you is, have you ever tried to raise money? Can you provide ' proof of concept '? "In the future, the public-chip model will play series A to a certain extent to help you complete the process from concept to prototype," Liz said.

How to improve the financing success rate?

In the public-raised platform, in the end there is the so-called ' big recruit son ' can improve the success rate of financing? I raised the question to Liz and got the following answer.

1 you have to figure out, is ' people vote ', not ' People project '. ' Authenticity ' (authenticity) this thing is especially important, don't just want to do an advertisement, sell the thing is finished. All you have to do is pull yourself up to the camera and tell everyone, ' Hi, my name is Liz, where I come from. I have a dream; I want to do something. It doesn't matter if you're not photogenic, or if you're not a professional or a video editor, the most important thing is to pass a ' authenticity '. Potential supporters will feel that you are a living person and that they know who they are helping, which is crucial to bridging the gap between you and your supporters. Chinese habits may be more subtle, not so like expression, but you may wish to try this, I believe that will reap unexpected results.

2 must have a systematic plan for their own projects: when to update, clearly delineate your support for the supporters of what is the marketing plan, is the mail, SNS or through PR etc., you have to clear. In my experience, if you only treat Indiegogo as a weapon in your arsenal rather than all martial arts, chances are you will be successful. Entrepreneurs should think of Indiegogo as one of the means to attract supporters, not all, Indiegogo as a learning and perfecting their products, this is the essence of the public.