30/6/2015 Project cancelled
from the desk of the CEO
After the death of an advocate for our mobile food cart venture our business struggled. We were looking at many options for funding. Then we came across
kickstarter.com, an American organization to help creative projects by providing an online platform for backers for them to support these projects by donations.
Crowdfunding lets you raise funds without sacrificing ownership or having to face relatives across the table at holidays, or needing to promise a return besides a free sample of your product or some other ‚reward.‘
It’s a bit like being in a kindergarten and doing a presentation for the children to understand. Yet, we thought, if that is our only option we will give it a go.
We knew it has, without any doubt, drawbacks:
It just makes it too easy to kid yourself
The projects work for many young would-be entrepreneurs, those that have not got into the rhythm of writing business plans or put into crafting mission statements and forecasting sales and determining costs.
It’s really like going back in time when you went to college – you put in the effort to show what you’re capable of.
It’s a lazy way of finding capital for your projects.
Investors will hesitate investing in a crowdfunded company. Is this true?
I think I know the answer here:
Do these companies really perform? How can they have the financial experiences if they haven’t got the qualifications nor the ability to write a business plan? I personally wouldn’t donate a penny to these projects as an entrepreneur.
Realizing your dream as an entrepreneur is hard. Crowdfunding sites, in my opinion, distort the dream. If funds are granted, it can help supplement other sources of money and help you try out a product, but the true test of a business is what happens next, after the funding is done. And that’s when you’ll need the discipline, expertise and sense of urgency that comes putting your own money at risk or that of serious investors who expect a real return.
For us it was out of desperation because of other issues, interfering with traditional funding options, issues we were for a long time completely unaware of. When we found ourselves declined for funding we were never told about the reasons….so we thought: „That’s odd, no public debtor record hold any negative reports on us! We have provided a most complex and striking business and marketing plan, yet we get declined for reasons we don’t really understand. On our path we value fellow humans who are honest with us and say directly to our face what they find good, what they find bad and what they criticize when they decline funding applications.“
As concerning the future for Camden Bratwurst Pillar Limited we have now found ways to grow our business following the issues concerning Coca Cola Enterprises.