Erick Mott of Creatorbase Talks Crowd Funding

Key Takeaways

hi i'm john rampton here with eric mott from cr the community at creator base so today we're going to be talking about crowdfunding this is a big issue out there lots of people are talking about it and eric he's the man at it so uh today we're going to be talking about that so tell tell us a little bit about creator base and how you get started in the the crowdfunding space yeah so creator base is just a community for creators ideas and solutions and we did some crowdfunding last year with indiegogo around a very simple product but i also have been writing about a little bit through the sem property and it's it's an area where not only are there different types of crowdfunding applications but it's a huge growth opportunity for any entrepreneur any size business and of course consumers can actually contribute people can contribute help people actually make things go to market okay so in the crowdfunding space how does it work i mean you have a product what do you do from there yeah product initiative service idea you know need something for a family member or whatever basically you put out a campaign that tells a story about what your cause is your idea and you reach out to consumers people influencers on social channels through email there's some search involved because people are searching for you know things to contribute to and it's like any other campaign you have to go multi-channel there's got to be some storytelling there's got to be some emotion and it's it's a hard process i mean you've been part of this too a little bit once you dive in you're monitoring you're responding you're making tweaks to your content you know to change the story and it's something that you know i think is generating a lot of great results for people okay nice i i know i've used kickstarter and indiegogo are those the two top crowd funding platforms out there right now there's many and actually i tried in uh kickstarter at first got rejected they have more of a filtering kind of process whereas indiegogo is open it doesn't matter who you are as long as you're not a criminal you basically get approved and i i believe indigogo is a better business model they're also one of the first crowdfunding platforms out there but there's many and even circle up as an example but circle up is closed to investors so not everybody can invest through it okay although the sc the scc it's the sec right i'm getting my acronyms here sure sec or scs no sec yeah they're actually coming out with new laws around what can and cannot be done in terms of investment yeah um but it's kind of been now you're talking about crowdfunding investment yeah in other words who can be an investor so the sec is actually coming out with new laws they haven't quite been released but it's been rumored that there's more opportunity for more people to invest for equity as opposed to just yeah for fun you know for charitable you know purposes okay so well excellent well thank you very much for your time again john rampton with eric mott from creatorbase so thanks a lot