In the capitalist driven world of today, only a few market ideas actually promote the well being of society at large. Most ideas are with the incentive of gaining profit at the expense of others. In this very large pool of competition within the market place, there is more emphasis on making money than actually providing opportunities to people who have great ideas yet are unable to materialize their intellectual property.

One of the primary factors that halts people from a path to realizing their thoughts is the potential risk of losing whatever means of economic, monetary or social wealth they possess. The simple fact is, the more wealth one possesses the more one is willing to take a risk because there is at the very least some means of support to fall back upon.

But for a moment consider the people who have ideas that may benefit the future of society at either a small scale or even a revolutionary scale. They may never give their ideas a second thought. Not having any means of support to fall back upon stop these ideas from successful integration into the market system upon which society can never benefit from those lost ideas.

Crowdfunding is one such platform, one such thought that gives people an opportunity to end second thoughts on their big ideas. The range of diversity in this world is endless, the ideas that flow through human minds everyday are also never ending. Not all ideas are worth something but neither should all of them go to waste. Crowdfunding is that sort of initiative that builds a connection between the idea maker and the idea consumer. An idea is only as good as it is received.

One approach is to spend loads of money on advertising, marketing campaigns, branding etc only to end up sitting on a couch wondering where the mistake was made and pondering over why the idea was not well received. The other approach is crowdfunding. Consider it a pre induction market experience, a test drive, a simulation that guarantees an outcome to whether or not an idea will be well received or not. But again the free market is all about competition so what cannot be assured of is that crowdfunding will actually make your idea an overnight success. Crowdfunding aims to build upon a three-way relationship between the consumers, the thinkers and the doers of society. Its purpose is to present your idea to the public on scale unlike any other. Think of it as a mixture of an advertisement and marketing campaign per-actual realization and materialization of the plan. The costs are minimal and there are high levels of risk aversion entailed.

All of us go through our daily doses of crowdfunding on micro levels that we end up being unaware of. We test the food before we cook it for a mass number of people, we practice our instruments in front of friends and family before we go on to perform on stage, we hold private screenings of movies before releasing them to the public, we try on clothes and read their labels before purchasing them. All this tries to convey to us is that even with perfect knowledge in a free market system we look for ways of reassurance on our investments. What better way to reassure yourself of investing into an idea than to test drive your idea through the virtual realm of competing ideas.

Don’t get me wrong, Crowdfunding is not an easy pass to the acceptance of your idea. This does not entail that all the hard work has to be forgone and that society will welcome your idea as a means to spend their monetary assets on. With perfect knowledge and with no barriers to entry into the market, people will rigorously scrutinize your idea before spending their cash on it. If people like your idea as a standout in the pool of ideas that crowdfunding attempts to display to the public, they will campaign for it, they will donate to that pre-market campaign in order to boost your confidence into introducing your idea to the world

Posted by Amna Mushtaq

Leave a reply

Your email address will not be published. Required fields are marked *