It’s been a very interesting journey for Joe Parker of InventureX. He has seen the company grow from humble beginnings, to now helping several people launch crowdfunding campaigns. As a senior marketing coordinator, he understands the economic and social impacts of crowdfunding.
He answered a few questions for us in a short interview so people who might be on the fence about crowdfunding can learn more information. His informative answers should be encouraging for anyone willing to step into this opportunity.
Are there any crowdfunding campaigns that InventureX will not take on?
We are at the point now where we can pick and choose a little bit on what project we take on, but for the most part, we try to help everyone who is looking to make an impact. We will review an idea and see if it is ready to go, and then move on with a client from there.
Why have so many people who have worked with your company found success in crowdfunding?
I think in general; the crowdfunding industry is doing very well. People have been able to raise more money than they ever thought possible, and that opens up several opportunities.
What we try to do is put everyone in the best opportunity to raise the most money. Sometimes, it’s a few tweaks here and there to make everything a bit better. Other times, complete changes need to be made to see a difference.
Do you see the popularity of crowdfunding slowing down in the near future?
As I’ve explained in a recent interview from Inspirey.com, as soon as crowdfunding was viewed as easy money, relatively speaking, the explosion started almost instantly. I think quality will always prevail, though and that could eventually lead to fewer amounts of campaigns out there at any given time.
What type of social impact has crowdfunding made?
What I think is very interesting is that crowdfunding not only helps to raise money, but it’s marketing a product that is new and exciting as well. Even if a person isn’t necessarily a backer, they see an intriguing crowdfunding project, and they keep an eye on it.
The best way to keep up is to always become a backer, but some crowdfunding projects are so far along that people can’t back it traditionally. That is when they just follow things, and the spread on social networks is so great that people start counting down the days until it is available to the public.
Is the money starting to dry up in crowdfunding?
The biggest change has been connected to how smart backers are. If a new idea is not thoroughly planned out, backers are going to stay away from it. There are just too many options out there that already have so many things figured out and put into place.
Where do you see crowdfunding going in the next decade?
I truly believe that crowdfunding is here to stay in some capacity. If you have read my recent interview from FeedYes.com, I have talked about the trends redefining the future of crowdfunding. Sure, it’s going to evolve somewhat, but it’s a strategy that has been around for decades already. It just took off this past decade because of all the potential online. Having the ability to have backers from all over the world is something we never saw before. Expect to see entrepreneurs from all over the world grow global brands thanks to crowdfunding.