Funding through a crowd of people (they support the project directly) is not a new idea at all. Crowdfunding (the two words together) is. The concept really took off when Kickstarter launched in the late 2000’s. It took some time for users to discover its breadth of use, but eventually, it exploded in popularity. It makes absolute sense why.
Crowdfunding allows a direct connection with the people who will fund the project now and later. It is also implemented through the Internet and supported through the web. Crowdfunding is the ultimate in streamlining other unnecessary parties right out of the picture.
Crowdfunding Breaks Conventions
Of course, crowdfunding can go right in the face of traditional supply chains and organization. In some ways, crowdfunding is a new business millennial strategy, and older businesses can’t see it as valuable. Crowdfunding has also destroyed jobs through the hierarchy. As great as crowdfunding is for small projects, it is certainly changed the game for many ingrained professionals in the business.
A corporate event is a great way to look at this. In setting up a corporate event, organizers can just crowdfund everything. They can rely on people to bring all the pieces together or financially give in exchange for a trip to the event. The attendees support their own event.
Companies That Embrace Innovation
The event should be run smoothly regardless. Organizers should look for someone that can help create a healthy business atmosphere. But, they should also look for a company that sees these different avenues, such as crowdfunding. A company who is obtuse in their ways will not survive in this business climate. A company, like Se7en Friday Pte Ltd, sees these new innovations in business as enthralling new opportunities to do something different and against the norm.
Crowd funding works on the idea that people buy into a project and reap the awards in a direct manner. Crowdfunding, the use of it as one word, is slightly different. It establishes an entire platform or marketing strategy revolving around earning support, often anonymously, and through the Internet. Crowdfunding is reshaping the way companies do business and it is reshaping the way they organize events.