We would like to call for the first 10 core team members to form the initial management committee.
As an example of business model discussions, here below are some suggestions from Chris Tidman’s earlier comments. I would like to invite and add similar authors and contributors to this blog.
“Great idea. The shareholder’s registry would be “the list” I suppose, and it would provide members with regular updates from the start up team with videos etc. Could have several levels of shareholders/investors. There should be a payout for investors. If it succeeds and you are the lowest level of participation you should at least get your money back – no interest.
It could have a business plan registry with a $100/plan registration fee for the ones with the plans who will have some part on the board of the new business.
The online team can maintain a registry of hours/contribution/ideas for the “employees” participation, so that when the business starts to make money the company can pay off the start up costs. This should be a public ledger sot that development can be monitored by all the players.
Regular corporate rules could provide the outline for procedures and duties of the officers. Only change that I would like to see is the requirement that no shareholder own more than 1% of the business.”
Please feel free to chime in. Thanks.
In order to be sucessfull I mean by that trusted from an investor and a submitter the process of crowdfunding now is pretty opaque. The Process can be totally streamlined and positive for every participants.
On one end you submit a businees plan because it is required and
very few people will read it.
On the other end you make an investment and basically wait until
things go right or wrong.
There is more guessing than a structured business relationship
based on progress report following the business plan.
We propose to make this process a lot more interactive, even
enjoyable and trusworthy by building an application to support
the whole process online.
Good point! Better service will attract more customers. There is indeed a chance for a new crowdfunding site to overcome these challenges and provide a new business model that could also change the landscape of angel/VC financing.
I like your idea!
If I may, I would like to suggest to focus on a specific field, sector of business your CF platform would like to be involved. Receiving tons of business plans from different business sectors, implies an organization that maybe is too expensive to maintain, especially at the beginning. What I’m saying here is that the holistic approach utilized by Kickstarter, IndieGoGo, RocketHub (just to name a few), where you can find the artistic project next to the iPad app one, could not be a wise idea for an equity-based CF platform. If you select one-three fields, exactly the way VCs do, you will be able to build reputation and with that you will be able to expand your business.
Greetings from OC,
Great suggestion Claudio. I have briefly thought about that but you articulated it very well. Please feel free to make some more contributions and suggestions. We need all the help we can get now in the start-up phase. As regard to the field to specialize on, it is really up to what domain expertise the core team may have. We would love to have the core team in place asap so that we could solidify our plans.