Crowdsourcing was an early example of the power of the crowd. We have some noteable success stories here in Australia including Matt Barrie from Freelancer.com. Doing business online has become the norm and building trust no longer requires meeting in person at the early stages. People find love on the internet after all, as well as ‘suppliers’ – as varied as babysitters to design or just about anything else you can think of. We put our faith in crowdfunders to deliver on our dream – or theirs.
If you want to find out more about Crowdsourcing then this great post will inform you! Jo Sabin from DesignCrowd pulled together some brilliant examples and showed that Australians have been crowdsourcing since 1901. You can read her post here.
Crowdsourcing can also be used as a ‘business matching’ service. If you are an entrepreneur looking for like-minded people then you need to meet them first! We’ve all spent a lot of time at various events where ‘our kind’ hangout – but what if you had the option to short-track the process?
Christine Kaine of Business Angels has been introducing Angel Investors to Entrepreneurs for over two decades. She has recently launched a brand new venture to help entrepreneurs who need to complete their teams. Not only bringing together investors, Crowd Entrepreneurs will also help those seeking Angel Investors or those who want to crowdfund.
Christine Kaine has always said a successful venture is more about people than it is about money. I spoke to her to find out more.
Crowdfund it: When did you first become aware of Crowdsourcing?
Christine Kaine: I first came across Crowdsourcing in 2009 when Alec Lynch of DesignCrowd registered with me to find some Angel Investors.
What I loved about that deal is that one of the first things the group did was buy one of the opposition companies which organically increased the crowd.
CFI: What motivated you to start Crowd Entrepreneurs?
CK: Drawing on the crowd wherever they are is a smart option. For crowdfunding it is more than just funding. It brings together three key things: the product, the market, and the funding underpinned by shared values.
Getting together with like-minded people is increasingly attractive in our complicated business environment. Finding complimentary people is a challenge. Incubators and co-working spaces certainly bridge the gap.
Crowdsourcing entrepreneurs means that you can tap into the crowd to find compatible people with shared passion and commitment who can contribute to a project to make it commercially viable. This strengthens your ability to create compelling businesses that will attract funding from various sources. You may need a combination of things; a co-founder, or a specifically skilled person to complete the team, or a company that can provide services to compliment your project. Having the right team can strengthen your position when seeking investors.
CFI: How does your service work?
CK: The bi-directional matching that I do, through my custom built IT, allows me to fine tune the requirements of all parties and put them in touch with each other wherever they are. In this sense, I am facilitating a virtual co-working space. Each applicant is profiled through our expert systems and referred to each other when the match is as close as possible.
If projects also need Crowdfunding or Angel Investors, or a combination of these, this can be added to the match.
CFI: How do people use your service and what are the fees?
CK: Each applicant completes a questionnaire which gives me the information that I need to create their profile and match their requests. If they don’t need money the entry fee is $395. If they also want to find angel investors the fees are explained on the fees page.
CFI: Do you already have entrepreneurs looking for team members or crowdfunding on your books?
CK: I have always had businesses looking for team members, mentors or other kinds of assistance. It was only recently that I realized that they were really crowd enterpreneurs. I think the buzz around appealing to the crowd will bring my service to the attention of a greater crowd and in this way I can help more people realise their goals.
CFI: Why do you love doing this work?
CK: I am passionate about assisting entrepreneurs – innovation plays a critical role in our Australian community. I hear so many heart breaking stories about the difficulties Australian entrepreneurs face. It is so rewarding to see what is possible when the right people get together.
You can find out more about Christine Kaine and Business Angels on their website or go directly to www.crowdentrepreneurs.com.au to find out more.
Anna Maguire, April 2014