Last week I wrote about the research plan and the deadline that we set for today (Friday 28 November). It took us some time to create an adequate theoretical framework since there is hardly any literature that is sufficient to answer all are questions concerning the topic of crowd funding. There is some literature, but crowd funding is a quite new phenomenon, that’s why there isn’t an overflow on scientific literature.
However there is one book written by Mishra and Koren (2011) Crowdfunding: ‘het nieuwe investeren’ which has helped a lot. And has given much useful information and insight on how crowd funding operates and how it originated through the use of crowd sourcing. Also it has given me better insight into what u can do to make your crowd funding project a success, Mishra and Koren (2011) state that there are a couple of steps an entrepreneur needs to take to test the waters.
* Selection: Test the feasibility of the idea on a number of key factors.
* Social media: Determine which type of social media is of most use to generate as much attention as possible for your project and formulate a social media strategy.
* Key supporters: Try to locate as many ambassadors, hubs and connectors in your network. The crowdfunding campaign needs to spread inside as well as outside your network as fast as possible.
* Trust: After finding the first investors, it should be clear that people have faith in your project. Now is the time to make progress, use all the resources that are available and go find investors outside your network.
* Feedback: Stay in close contact with the community. Report on the progress and the achievement of the intended objective of the crowd
So if any of you want to start a crowd funding campaign this might be helpful!
I hope that Kristel finds our research plan to be more than adequate and that we can start working on making our survey and get a deeper look in to the donor base of Voordekunst.
Till next week,
Chris Boer, 1983342