A Day in the Life of a CrowdCo – 1st of 8

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Crowd Funding Roundups

Introduction

In building this narrative we are recording the thoughts of two Creative CrowdCos
as they set out to bring their “idea” to market through the Crowd.

Initial Structure

We start with our inner belief in the CrowdCreative Process:

CrowdSourcing allows teams to build where they are planted while accessing quality
resources around the country and around the globe.
CrowdFunding brings a paradigm shift to the capital formation process of
start-up ventures. It does not replace or compete with Angels, VCs or Banks but fills
in the missing segment of thestart-up lifecycle cash flow effectively.
CrowdMoving our new process initiative takes the wave of open community
participation toits final objective including the crowd in the entire lifecycle
of the product/service. They came and joined in the developmentand funding
of the project; why not let them participate in the selling and profits of the work
they accomplished.

CrowdCreative Companies invest in their ultimate customer from the moment
their great idea takes shape and maintain real effective connections throughout
the product/service lifecycle. They have no objections tocreative corporate structure
or fear of distributive workplaces. They just feel safer involving their customer in the
process from the very beginning. Crowds make great things happen.

When shifts are seen in economic cultures two things are recorded. One – there is
pain as the old ways reveal their issues. Two – a new process is created and, while
in the beginning many resist its unnatural actions or hypotheses, it creates a better
pathway to economic success.

Our market economy has announced change and, due to the powerful advance in Internet
communications, the response has been CrowdCreative initiatives. While there will be a
plethora of choices and styles of crowd participation the underlying fact is that product
lifecycle structure is going to expand beyond the closed door processes of the last 70 years.

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Process Model and the Crowd:

Our little CrowdCo (another term we have started in our enthusiastic shouting about
CrowdFunding) is a big idea with few borders and in need of people and capital to enter
the market. Most, if not all, CrowdCo ventures can identify and map out the stages of
their development like this:

Projects we will track

SAFE:

Our information delivery project (SAFE Portfolio, LLC) entered the CrowdFund
process at 2nd Prototype, having already proven the technical side of this information
delivery product. The development plan provides ashort pathway through
Commercialization to market introduction of 18 weeks.

The SAFE team considers their project a “golden mousetrap event” that is focused on
product launch, market penetration, and client retention. What better product to include
the Crowd in during the final days to launch and beyond.

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MeCareHealth

Our medical technology project (MeCareHealth) is in rapid development mode with a
focused executive team building a personal health dashboard to help people manage their
health and wellness through smart devices. MeCareHealth is capitalizing on the convergence
of mobile technologies, healthcare apps, self-management and social networking to manage
health, fitness and wellness. The initial first product will be a weight loss management program
based on the latest research by National Institute
of Health (NIH). More importantly, our App will be simple to use and understand as well as
engaging (social) for the user.

MeCareHealth business model is aligned with CrowdSourcing dynamics as their consumer-based
platform will allow users to manage their personal wellness and healthcare information as well
as provide support and user interaction on a broad range of health issues. One of the greatest
challenges for a dynamic development company is to have to choose between multiple requests to
be the first to use their solution architecture.

Besides project funding, MeCareHealth seeks to use CrowdFunding for the establishment of their
long term conversation with their client base.

First Step in CrowdCo Lifecycle

Determining how and when to involve the Crowd within the product plan.

There are many wonderfully diverse business ideas and each has to determine first and foremost
how and when the crowd can be included in their particular product/service lifecycle. The
established capital formation marketplace is filled with more projects than money and there will
be a critical weeding out of those projects not prepared or suited for CrowdFund assistance.
It is therefore essential that the CrowdCo think through and prepare for this important activity.

The following key statement will guide and direct all decisions in this area:

CrowdFunding enhances the CrowdCo by combining two critical early lifecycle events – seed capital
and market assessment.

Both will be “voted on” and the “pass/fail” decision will go a long way in measuring quality product
development. It is the job of the management team to incorporate the CrowdFunding benefits into
their business strategy properly

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The CrowdCo needs to focus on its ultimate client and how to announce the coming of the solution
they bring. It then needs to map this against its marketing plan to assure that crowds gathered will
mesh with their planed long term marketing campaigns.

Check out Should CrowdFunding be part of the Business Plan 20120810 for a more detailed look at
incorporation of CrowdFunding within your Business Plan.

First Step in CrowdCo Lifecycle:

Determining how and when to involve the Crowd within the product plan.

For SAFE, having identified and mapped out 6 marketing channels and evaluated penetration time and resource requirements for each, they selected the top two channels to begin their marketing campaign and focused on these two segments within their 60 million household customer base in the United States.

Our CrowdFunding campaign will focus on three fronts.

  1. Friends, family and personal network connections of the SAFE core team. If wedo not want our friends to use SAFE how can we sell it to America?
  2. Networks, groups and individuals who can/will provide value added content to our subscription service. Strategic partnering is a critical long term brand buildingopportunity.
  3. CrowdFunding through Social Media Marketing. Every wave has the opportunityto touch an individual project if we position ourselves in the path. We may not get the attention of the whole world but we will not miss out for lack of trying.

SAFE Check Points:

Team

Y/N

Market

Y/N

Legal/Admin

Y/N

Has your team bought into the CrowdFunding Process – they are the first sale

Y

Identification of market segments complete

Y

Corporate entity chosen and in place

N

Are critical positions filled

N

Focus for CrowdFund penetration identified

Y

Team Communications well established

Y

Can you maintain momentum

Y

Date of Last update:

August 10, 2012
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First Step in CrowdCo Lifecycle:

Determining how and when to involve the Crowd within the product plan.

Our initial product will be a personal health dashboard to help users manage their personal health and wellness via their smart devices. Our product is an App that takes advantage of the increasing use of mobile technology, smart devices, bio-sensors, and social networks. Our initial product will be a health dashboard centered around weight loss management based on the latest research from NIH.

Our crowd funding campaign is centered on developing an initial user base for our initial MeCareHealth platform, people who want to manage their health. We are looking to establish a relationship with our users so that we can understand their needs and wants as our product evolves over time. This will mean that our development will become a cyclical event as we refine our initial product, weight loss management as well as rollout other specific health modules for other health and wellness needs.
Personal note from CR Team
As we started this article we knew we would be learning right along with you “Our Crowd”. We also knew that we are unprepared but too excited about this marvelous opportunity to wait for all the dust to settle. Please check us out on Facebook… http://www.facebook.com/CrowdFundRoundup
I was told by a great teacher a very long time ago, that “if it is not your talent it is not your job”. CrowdFund Roundup is a new thing and we are looking to rope us some talent. We know you are out there just waiting to jump up on this bull and ride it with us. If you want to join in the fun please, drop me a note at CR Head Wrangler and let’s talk.
This article is a co-operative endeavor of Vision Management, CrowdFund Roundup and the management teams of MeCareHealth and SAFE Portfolio, LLC. For more information please feel free to contact Bill Joyce at PO Box 612347, Dallas, TX 75261 – 817-918-4667 –
 Link to Part 2  

 

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