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Similaire à USEED Rotary Presentation 6415
Similaire à USEED Rotary Presentation 6415 (20)
USEED Rotary Presentation 6415
- 1. USEED How to Inspire the Next Generation of Entrepreneurs
- 2. We Have A Crisis Top 10 Employers - 1960 1. GM 2. AT&T 3. Ford 4. GE 5. US Steel 6. Sears 7. A&P 8. Esso 9. Bethlehem Steel 10.IT&T Top 10 Employers - Today 1. Walmart 2. Kelly Services 3. IBM 4. UPS 5. McDonald’s 6. YUM (Taco Bell + KFC) 7. Target 8. Kroger 9. Hewlett Packard 10.Home Depot
- 3. Poverty awaits the job seekers.
- 4. 30% of Student Loans In Default
- 5. 53%of college graduates don’t get a career or even a job.
- 6. In the new economy, for the self- motivated there are no limits. For everyone else, there are no walls, no ceilings, and no floors. - Thomas Friedman
- 7. How Important is this Crisis? Alignment of Institutions • Competition • Scientific Method • Property Rights • Medicine • Consumption • Work Ethic
- 8. The Old Connection Economy
- 9. The New Connection Economy “I saw this technology through their eyes and realized, they could create anything. And that’s what a computer is to me. What a computer is to me is it’s the most remarkable tool that we’ve ever come up with, and it’s the equivalent of a bicycle for our minds.” - Steve Jobs
- 10. “I guess it’s fair to say that the business of higher education is going to change as much in the next decade as newspapers did in the prior one.” Stop Stealing Dreams, Seth Godin
- 11. 15 Facts About Millennials . “First, Millennials are a technologically connected, diverse, and tolerant generation. The priority that Millennials place on creativity and innovation augurs well for future economic growth, while their unprecedented enthusiasm for technology has the potential to bring change to traditional economic institutions as well as the labor market. For example, “crowdfunding” has enabled entrepreneurs to raise capital from diffuse sources online, rather than relying on traditional sources like banks to grow their businesses.”
- 12. Crowdfunding, Explained .There are 4 Major Types of Crowdfunding: 1. Rewards-based - Give to get 1. Donation-based - Philanthropic 1. Debt - Sharing economy 1. Equity - Jumpstart Our Business Startups (JOBS) Act
- 14. Interesting Statistics from Kickstarter • $1.7 Billion pledged to projects • 8,665,473 Total backers • 2,642,121 repeat backers Data from Kickstarter: https://www.kickstarter.com/help/stats
- 15. Copyright ©2015, USEED: B Corp The #1 Myth of Crowdfunding “If you build it, they will come.”
- 16. Copyright ©2015, USEED: B Corp Campaign Success Rates Indiegogo 38%Kickstarter 10%
- 17. USEED Pioneered Crowdfunding for Higher Education • Kickstarter and Indiegogo do not give Universities the governance and brand control they need • USEED has been adopted by 17 higher education institutions, including ASU and Penn State University • Inc Magazine called USEED #4 on their list of “16 Startups Poised to Disrupt the Education Market” • The opportunity for expanding entrepreneurship across every department at a University
- 18. The USEED System Predicts Success and Allows Institutional Oversight Interview Analyze potential Apply Team applies online Prepare Campaign Team creates content & adds volunteers Crowdfund Fundraise Launch Approval Program Approval
- 19. Crowdfunding is Aligned with the Future of Education and Jobs • Teach kids how to lead • Help them learn how to solve interesting problems
- 20. Crowdfunding Success = Teamwork VIDEO PRODUCER CONTENT WRITER JOURNALIST CAMPAIGN LEADER RECRUITMENT DIRECTOR Campaign Page Campaign Video Team Onboarding Campaign Updates Team Oversight
- 21. How USEED Stacks Up 38% 10% USEED Kickstarter Indiegogo 93%CampaignSuccessRates
- 22. The Barrier to Crowdfunding and Entrepreneurship Fear of rejection
- 23. There is a form of enchantment that results when a diverse community, materializing from nothing, gets behind an act of creation that no other institution would support. - NYT article on Crowdfunding
- 24. Video of a USEED Campaign
- 25. Why Crowdfund? ● Students o Experience ● Schools o Enrich student experience o Donor recruitment ● Donors o Encourage students o Make the world a better place
- 26. This is Bigger Than Crowdfunding This is about empowering a generation with the life skills to be successful.
- 27. Two Calls to Action 1.Connect us to a Director of Annual Giving at your college so students at your Alma Mater can enrich their college experience 1.Ask your kids and/or grandkids to help you pick out a crowdfunding project to donate to, because you'd like to try it out
Notes de l'éditeur
- The great recession of 2008 taught us all that we are free agents and entrepreneurs. The average length of a career today is shorter than ever. We have all learned poignant lessons about the impermanence of our financial security. But how has the past decade impacted our children and grandchildren who are now entering college? Just like my grandparents were Depression children and tremendously impacted by this- our children are products of the great recession and their view of the world is going to have a big impact on the future of our country.
- In 1960 if you were a good student you could find employment that offered substantial pay and a long term career with eight of the top ten employers. Today the number has reversed. Only two of the top ten employers offer good pay and a long term career
- Seth Godin is a thought leader in education and life and he suggest we all think of ourselves as artists and entrepreneurs. We may have a job today but our job is to do such breathtakingly original work that we risk rejection and failure because it means we will get another chance.
- Another aspect of that crisis is the savings crisis. Most students graduated with no student debt and yet the average american household has only $50,000 in savings. Today the average student-who is graduating into this uncertain world graduates with $30,000 of student loan debt. Our future looks bleak if we don’t make a fundamental change.
- The West has only led the world for 400 years. We eclipsed the rest of the world because we aligned our institutions around six western innovations. Today the job is in danger of extinction. We need to re-invent or replace the concept of a job or we will face massive social unrest. The good news is the change can dramatically improve the quality of our lives and our society but it means getting off the cow path that our parents walked.
- The newspaper route was the training ground for many young entrepreneurs like me. I learned about the operations based on the day by day work I put in on the route. I learned about making an effort, often in the snow and ice in uncommon hours with my peers. I had to consider my product inventory, route length and daily schedule. The interaction with the customers taught me the importance of marketing and selling. Relationships are crucial whether you are handing someone a newspaper or closing a multi-million dollar deal. I was faced with many unpleasant people. I also learned about handling others bad debts. The student paper route is dead. Our society needs a new construct to teach entrepreneurship to students. What is next could be even better because it almost always
- Thanks to the computer revolution this new construct is here and better than anything that came before it. The bicycle has been replaced by the computer and connected to our community and the collective creative genius. What will be do with it? is and technology allows us to bridge from the past to something even better. As a paper boy I didn’t control the newspapers content. Technology and entrepreneurship allows you to create something out of nothing.
- The very first conclusion the President’s Council of Economic Advisors report on the Millennials that this largest population of our country is going to change the economic landscape of our country through crowdfunding.
- Hey John - below you’ll find a brief definition of rewards, equity, debt, and donation-based crowdfunding. I pulled this from a Fundable article: https://www.fundable.com/crowdfunding101/types-of-crowdfunding Rewards Crowdfunding Rewards-based crowdfunding is the most common type of crowdfunding option available. This type of crowdfunding involves setting varying levels of rewards that correspond to pledge amounts. A standard rewards campaign offers at least three levels of pledges/rewards. Rewards campaigns tend to work well for client-facing, tangible products who require less than $100,000 in funding and typically last for 1-3 months. Equity Crowdfunding Equity crowdfunding is on the rise after the signing of the Jumpstart Our Business Startups (JOBS) Act in April of 2012. Equity crowdfunding is the exchange of actual shares in a private company for capital. In this form of crowdfunding, entrepreneurs can set investor caps, minimum pledge amounts, etc. as well as approve or deny investors who wish to view their business documents. Equity campaigns are typically several months or longer in length and fit well with startups seeking $100,000 or more in funding. Donation Crowdfunding Donation crowdfunding is exactly what it sounds like - the campaigns amass donations without being required to provide anything of value in return. This type of campaign serves social causes and charities best. Donation campaigns are often 1-3 months in length and work well for amounts under $10,000. Debt Crowdfunding Lending based crowdfunding allows entrepreneurs to raise funds in the form of loans that they will pay back to the lenders over a pre-determined timeline with a set interest rate. Lending campaigns tend to take place over a shorter timespan of around five weeks and works well for entrepreneurs who don’t want to give up equity in their startup immediately.
- An excellent example of the power of the connection economy and the failure of the industrial model of the past is the record industry. Amanda Palmer and her band toured fo years to master their craft. Finally they “got picked” by a record label their first album sold only 25,000 copies and it was deemed a failure and she was dropped. Undeterred Amanda turned to her fans for the second album and invited them to help support her with whatever they could afford in exchange for a pre-order. She got the same 25,000 supporters and generated $1.5 million- a huge success for everyone. She is right. Connecting your art to your tribe is the future of everything.
- Over $5 Billion has been raised in the past several years on Kickstarter or Indigogo. Only 3% of the US population has participated but a substantial portion of those people have found it so rewarding they have made it a habit to fund worthwhile projects. We are in the early days.
- The #1 reason a campaign fails is because they believe that if they build a great page on a website, the “crowd” will show up and donate.
- Kickstarter: As of May 29th, 2015, 62% of Kickstarter campaigns failed: https://www.kickstarter.com/help/stats Indiegogo: Per an article written on August 10th, 2013, 90% of Indiegog campaigns failed to receive full funding: http://www.crowdfundinsider.com/2013/08/20429-most-indiegogo-campaigns-fail-and-thank-goodness/
- I have invested in a start up USEED that is seeking to enable crowd funding on college campuses. This is exciting because higher education connects the enthusiasm and creative genius of our best and brightest with the support and encouragement of alumni and the greater community that wants to support them. This tool also expands the experience and concept of entrepreneurship to students and faculty across all disciplines.
- We create predictable success by forcing each campaign to do the hard but necessary 90% effort upfront only allowing the team to launch once they have completed the preparation process.
- Seth Godin states in his manifesto “Stop Stealing Dreams” that our modern education system is designed to teach memorization of facts and compliance that was only relevant to an industrial society in need of factory workers. In our post industrial society he believes there are two essential goals of education- teach kids to lead and to find and learn how to solve interesting problems. USEED is the tool that schools can use to evolve their mission and transform and enrich their students lives and in the process create committed tribe of donors to the institution.
- To create predictable crowd funding success we insist the team assign five members to each critical role. In my day in school teamwork was a polite word for cheating. Now collaboration is essential to successin crowdfunding and in life. Our system is simple –establish a compelling narrative, package and publiish it to the web and 20 team members can each raise $500 and therefor the team can raise $10,000 or more.
- As of February 19th, 2015, USEED has worked with six partner institutions over three years. 25 out of the 27 campaigns they have coached have gone on to be successful.
- No matter how great of a job we do to prepare the students for a campaign when it comes time to send out the e-mail to their friends and family they have to confront the dark fantasy that they are taking huge social risk and alienating themselves from the tribe. Nobody likes rejection. The reality is so compelling and so counterintuitive that to the extent we can rewire our brains or just close our eyes and act- it could be the innovation that replaces jobs as an innovation of the west. The reason campaigns succeed is members of the tribe are excited to hear about something new in their network. They are excited to support a project aligned to their desire to support a friend and help make the world a better place. The most important job of the USEED coaching platform is our ability to get team members to suspend their disbelief and be willing to be vulerable about an opportunity they care about.
- Here is a typical example of a USEED campaign. Ask yourself afterwards how you would feel if a student you knew, participating in this project ask you to help support it. Would you feel offended or put upon? Or would you feel enchanted and happy to be apart of the experience?
- This is about empowering a generation with the life skills to be successful. Crowd funding is transforming consumer lending and if we can use it successfully to inspire our students and alumni to collaborate it will transform our equity capital markets. Small business will use this concept to create more opportunities, art and innovation than any prior period in human history. Universities, Community Colleges and trade schools that lead this effort will create tribes of engaged alumni that will make dinner time alumni donation calls a thing of our industrial past. The Development Officers will be the leaders of not only of transformation in fund raising but of what it means to have a college experience.