There’s an urban legend about a guy who posted a crowdfunding cause to “help him make the best damn potato salad,” and the legend is, he made a couple of thousand dollars doing it.
I did some digging on the world wide web and was able to verify that this did occur in 2014 on the crowdfunding site Kickstarter. The guy made Zack Danger Brown didn’t just make a couple thousand, he made $55,000 just posting a prank. With the money, he threw a huge party called Potato Stock.
Imagine what you can do as an entrepreneur or philanthropist who has a real cause or really great idea for a product or business. If you aren’t sure what type of crowdfunding site is right for you, I found two great articles that might help you weigh your options.
In doing this research, I came across a lending site that I had never heard of called Lending Club. In short, they link individuals and small business owners to investors through their platform. I’m going to be researching this one more in-depth as part of my ENT 650 coursework.
Rogers, S. (2014). Entrepreneurial Finance: Third Edition, Finance and Business Strategies for the Serious Entrepreneur. 279-294.