MY EXPERIENCE UNDERSTANDING ONLINE CROWDFUNDING & HOW IT WORKS

Image result for i amreacting

There’s something about the way people react to new products.There is the group that will just find out about a product, get the details and immediately buy into it.Then there’s the group,where a lot of us fall, we will hear about the product ,see it,touch it and even get freebies of it and after being convinced that   it’s working instead of buying into it we will choose to wait.Wait to see what happens to the ones that bought into it, wait to see if more people will be interested, wait to see what will happen to the second interested lot.Wait till we feel its safe enough to close the deal and after we’re 100% sure everyone who went in first is actually doing well,we will close the deal.

This is what happened when the quail egg became a “super star”,pun*.Most of all it’s what happens  when a product that involves multi level marketing is introduced. There are always testimonials of someone making millions,you hear their stories and think ‘ for real for shizzy,i can also do this’ but most of the time what they never say is they were the first to buy into the idea,the pioneers,the risk takers.Ask anyone who joined last they’ll tell you its never as good as when you join first.

Crowd funding international recently got launched into the country. This was the very first time this alternative kind of financing is being had in Africa.A good number of people attended the launch ,there were the curious ones,the ones that came for the food and the skeptics.

Some of us were actually hearing the word “crowd funding”  for the first time.Others had an idea that its an investment thing until someone among us related it to an ” harambee” and now at least we were all on the same page.But it still wasn’t adding up, harambee on the internet ,how now?https://www.thegrommet.com/wordpress/wp-content/uploads/2014/03/What-is-Crowdfunding-Blog-I.jpg

From crowd funding international point of view it works,you see the way you raise money through harambees for different projects ,you can do the same on the organization’s website .

By the way this people who have harambees to raise money to travel abroad only for you to meet them a week after they ‘travelled’ having Nazi’s or viazi karai at the public beach at the coast this is for you…

You just need to sign in ,get an account ,have a title ,a picture and a short summary of the project you need the money for.Even if its a trip to wherever.

That sounded simple ,was it some kind of sharktank where you wait for people to be moved by the relevance of your project? Because with the kind of ideas people have that wouldn’t be a problem.

The explaining wasn’t over it didn’t end there ,apparently there was registration that requires a registration fee.

Looking around the room you could tell what was going on in some people’s mind,of course the cynical ones were already having the ” I knew it ” moment while the ones who expected everything to be free were now seriously biting into their meals,for some well,its never that serious till you know the ” how much part” Image result for how much

Apparently you need 225 euros which is equivalent to around ksh 26,000. Some people were already calculating what that money could do ,rent,food,fees ,transport wait that was someone’s monthly salary

.But there was actually good news while the 25 euros was to be for registration the 200 Euros is your donation ,remember the internet harambee,this is where it comes in.

The good news was that was the only money you’d put into that account no more would be needed ever.

At that time I turned to look at my friend Kelly I wondered what was going on in her mind since she is a student and we seemed to be the youngest in the crowd, we weren’t there for the food.Everyone else looked like they could come up with the ksh 26,000 first thing thenext moring if not the next week.They were probably calculating ,so if my project requires ksh800,000 all that is needed from me isnt even an 1/8 of it.Fair enough,where do we take the money to have our money.

But that wasn’t all,Apparently there are stages you need to get past to get your money,seven of them to be exact. At this point it sounded like some kind of video game.how was I going to click my way past  seven stages .There was some good news the system is controlled automatically so all you do is put in your 225 euros and sit and wait for the money to automatically donate itself and for you to get your donations.

This sounded like something surreal because you’ve probably thought about it happening but this soon.won’t the money end if all we do is chill for it.

So that’s where everything changes,for the money not to end you need to reccomend people when people join in there’s actually circulation.so imagine some sort of stair case, whoever you recommend comes on the stair case right below you so this contributes to your way through the stages since they’ll also recommend other people pushing you further up the stair case through the stages.

Hmmm,that part didn’t sound exciting ,kind  of reminds you of group work but counting the people in the room we couldnt we just form our own network .i looked at Kelly across the table she was now going through her phone probably facebooking.I couldn’t blame her  where was a student going to get Friends who can get ksh 26,000 easily.There was good news though,all this isnt dependent on how many people you recommend ,you still.moved up the stages whatsoever.

A gentleman was now giving a testimonial ,he was at stage four ,finally this whole thing was beginning to sound humanlike.Atleast he didn’t say stage seven because now that would be discouraging.it wasnt his testimonial that caught everyones attention but rather what he said, at each stage you get donations  you could actually  take any money donated any time  at any stage.whenever money is donated to you you receive notifications some days you coud even get donations worth 1000 euros and youre allowed to take the money .Though this slows you down from breaching the 7th stage .

That sounded good but what is it with this 7th stage.Apparently when you reach the 7th stage you continue receiving donations even after receiving your money.sounded like some membership thing now.

Well checking the website if all this was actually true and legal.There were videos on everything and there was the legal section right there that has everything listed down.Well the event was over some people wanted to know where to begin ,others left probably to think about it or grateful for the food .some ladies in the washrooms re-doing their powders were loudly saying how joining such things as early as now is always better.We should probably check out the crowd funding international website.

All images courtesy of google;-)

https://www.thegrommet.com/wordpress/wp-content/uploads/2014/03/What-is-Crowdfunding-Blog-I.jpg

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