nick nm yap - csw global crowdfunding workshop, cswglobal14

#CSWGlobal14 Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap

Crowdfunding Workshop

Nick NM Yap | CEO & Founder ROCKI Crowdsourcing Week Global | Singapore 10 April 2014


From Every Phone, To All Speakers, For Everyone. ROCKI. FREE YOUR MUSIC.


How to Raise a Million?


61 Projects Raised a Million


61 Projects Raised Over a Million Total 136,367 Projects


61 Projects Raised Over a Million Total 136,367 Projects

0.04%


1213 Projects Raised Over $100K Total 136,367 Projects

0.9%


59,439 Projects Successful (43.6%) Total 136,367 Projects

$1,058,366,405


How to Raise a Million?


How to Raise a Million? DON’T THINK ABOUT THE MILLION


You know this cliche DON’T THINK ABOUT PINK ELEPHANT


Crowd


Build a Crowd

Where are they? What are they doing? Engage each group - eg. Android fanatics, iOS fans, developers etc - each group is a mini-crowd. Then finally connect the mini-crowds into a Crowd - your project Crowd.


Build a Crowd Dispersed individuals is NOT a Crowd

Birds of a feather flock together


Build a Crowd You can’t have a successful Crowd-funding without a Crowd

Where are they? What are they doing? Engage each group - eg. Android fanatics, iOS fans, developers etc - each group is a mini-crowd. Then finally connect the mini-crowds into a Crowd - your project Crowd.


You don’t build a business You build people and then People build the Business

… Team, Users, Friends, Friends of Friends, Journalists, Investors ...


Target-rich environment You have to know people in order to know people


Target-rich environment You have to know people in order to know people

- Dr. Phil -


Start Early Social Media at least a month before. Tell everyone. Don’t be shy.


What if someone steals my idea? Threat vs Opportunity Plan to compete from Day #1 Be faster, better and cheaper Tell Everyone, not Everything Phase your public info release


Traditional Pitching

Broadcast Top-down

Crowd Networking Build from Bottom-up


Value Proposition Win-Win We Mentality


What type of products raise Million(s)? Celebrity, ex-Fortune500 executives, Games, Smartwatches, 3D printing

Neil Young’s Pogo music player raised >5 million dollars


Celebrity

Gaming

Smartwatch

3D Printing


XX% of >$1m Projects are Games


Have a Good Product How will the product impact people?

Is it going to change an industry? Is it going to change habits? Will it disrupt a status quo? Is the underdog going to dethrone some incumbent?


How to Have a Good Product? Crowdsourcing Listen, Engage, Curate & Implement

It should be an ongoing process during the entire campaign Even the entire life of the product The Product gets personified Becomes an extra dimension of an Engager


How to Have a Good Product? The Micro-Product Manager

Here at Crowdsourcing Week, we’ve seen the Micro-Entrepreneur, the Micro-Journalist, Micro-Producer … Everyone is a Producer. You can be who you want to be.


4000+ Product Managers 30-day x 24/7 Meeting

More Memory

Rounder

It should have wings

I second that


Numbers Time Know Your Pledge-Reward Value Know Your Funding Goal Aim to Fund within 3 Days What size of a Team do you need?


New York San Francisco L.A. / San Diego Miami Netherlands UK Germany Singapore Shenzhen (China) Shanghai (China) Taiwan South Korea

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Media Exposure Online most effective, 1.5 days effect

Huge difference between a media day and non-media day. It’s almost a full-time obsession to chase for media exposure daily x30 days or more.


Social Media Traction Press people are also people

If you are able to proof you can gain social media traction, the press will feel more comfortable reporting about you, that you are / will be significant. Social media is your mini proof of concept.


Users

Press

The Buzz Vortex


Make it a Crowd Fun Thing


1.  Don’t Think About the Million 2.  Build Your Crowd, Target Rich Environment, Start Early 3.  Build People, Crowdsource your team 4.  Crowd Networking, Engage, Think We 5.  What’s Hot : Celebrity, ex-Fortune500, Games, Smartwatch, 3D Printing 6.  Have A Good Product, Crowdsource “Product Managers”, Engage 7.  Know Your Pledge, Reward, Funding Goal, Fund within 3 days 8.  Media Exposure & Social Media Traction (The Buzz Vortex) 9.  Crowd Fun Thing, Run it Like a Reality Show + Game Show 10. … … … ??

Recap


Can you do all that on your own?


Can you do all that on your own? Crowd it


Crowdsourcing is a paradigm shift It’s a network more like chaos theory than a linear progression

Starts with the One Give it a shot. Always your best shot. That’s all you can do.


If you never shoot, it’s always a miss. Dutch entrepreunial spirit


THANK YOU

nick nm yap - csw global crowdfunding workshop, cswglobal14

Economy & Finance

crowd fun

rich environment

3d printing

finally connect

android fanatics

buzz vortex

media day

ios fans