There are many talented people in the world, lurking in different corners of the globe. A lot of them have talent. Sadly, not a lot of people have the funds to create a business out of those skills. Now, if only there are people who would believe in others’ great ideas.
Thank God for crowdfunding— the world’s answer to this unfortunate
situation. For example, there is Indiegogo. It has helped launch several
businesses like that of innovative underwear brand KnixWear, which gave
its founder and CEO Joanna Griffiths an 18-store Hudson’s Bay preorder
and more than $60,000. Since then, she has shipped 13,000 pairs, forged a
partnership with Lycra and put Knix on the shelves of more than 100
stores in 14 US states.
Indiegogo and another similar website Kickstarter are popular funding
alternatives for fledgling entrepreneurs. They have increasingly become
popular finance platforms even for established, for-profit businesses
and also for virtually unknown businesses and entrepreneurs.
It is an attractive way for small operations to raise capital without
giving equity to investors or paying interest on bank loans or lines of
credit. Instead, such campaigns offer donors gifts or discounts on
services or merchandise. Indiegogo, for example, takes nine percent of
donations if the fundraising goal is not met; four percent if it is.
I know a talented Mexican singer Chris Mann, who announced his
departure from his record label in September 2013. He then asked fans to
fund his project through pledgemusic.com. He got the money he needed in
just four days. Mann started recording at Echoman Studios with Murray
Yates in November 2013 and finished the record the following month.
The EP featured songs with Mexican singer Tania Geller and Canadian
singer Mary Douglas. Mann announced that the first single is entitled
“Sin Aliento” and the music video was released lastJan. 15, becoming an
instant hit on Mexican radio.
Mann has stated in many interviews that this is his most personal
record and that working full time on it made a “huge difference with his
previous work. The EP was released last Feb. 17, charting in both
Canada and Mexico’s World Charts at #51 and #175 respectively, becoming
Mann’s most successful record to date.
Good news like this warms my heart. Finally, there is an alternative
for talented and driven people to achieve their dreams. Luckily, we can
play a part in it!
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