Archive for October, 2009

Twitter Link Roundup #15 – Design, Small Business, Social Media And More

Thursday, October 8th, 2009

Every day on the crowdSPRING Twitter account and on my own Twitter account, I post links to posts or videos I enjoyed reading or viewing. These posts and videos are about logo design, web design, startups, entrepreneurship, small business, leadership, social media, marketing, and more! Here are some of the links that I’ve liked and shared this past week!

800+ Categorized Photoshop Tutorials, Plugins and Brushes – http://bit.ly/Dsllp

50 Totally Free Lessons in Graphic Design Theory – http://bit.ly/FnlBj

The Ultimate Round-Up of Print Design Tutorials -http://bit.ly/13NdCw

Crucial Rules to Follow When Designing a Logo - http://bit.ly/Zd9mj

Can Creative Commons Licensed Works Be Used For Logo Design? NO. Here’s why – http://bit.ly/7vMBP

20 Tutorials For Creating HDR Images - http://bit.ly/bGwVv

33 Creative Photoshop Tutorials for Manipulating Photos -http://bit.ly/aB8U9

Interactivity in Web Design: A Beginner’s Guide - http://bit.ly/UfFQk

10 User Interface Design Fundamentals - http://bit.ly/ZO3pS

43 High Quality Tutorial Sites to Start Learning Web Design -http://bit.ly/4Fk1Z

5 Design Practices to Improve Efficiency in Photoshop -http://bit.ly/2VVVHf

How to Make an Impressive Blog Layout in Photoshop – http://bit.ly/2H3Uf

The myth of the page fold: evidence from user testing - http://bit.ly/D6Kum

(more…)

Thoughts for small businesses and startups on raising capital

Tuesday, October 6th, 2009

So you have a great idea, right? You’ve written a fantastic business plan, researched the market extensively, have a deep understanding of the competitive landscape, and have a watertight financial model that shows how you can reach profitability even in the worst-case scenario. Now it’s time to get out there and find your funding. Easy, right? Not so fast there, bucko! The Small Business Administration published a study almost ten years ago which showed that for the year 1995 300,000 small businesses sought over $30 billion in capital, and (guess what?) went unfunded. The competition for scarce investment dollars is as fierce today as it was then. Fiercer, given today’s economic outlook and the great credit crunch of ’08-’09. Here’s a few basic thoughts:

WHO YOU GONNA CALL? First take a hard look at the sources of capital that are available to you. Your decision on whom to turn to should be driven in part by your funding needs, but also by the level of comfort you have in a given source’s ability to meet those needs. Your great-Aunt Sophie may be willing to help you out with a couple thousand bucks, but when your raise is $5 million, Aunt Sophie may not be of much help. Entrepreneurs have tapped into their own bank accounts, their credit cards, VC firms, Angel Investors, bank loans, and trade credit to get their businesses launched and keep them running. Funding sources fall into two broad categories (photo credit: LShave):

  • Debt financing. This includes the gamut from personal loans to credit cards to bank loans. Debt financing is certainly less expensive than equity, but carries with that additional personal risk. Not to mention the fact that the credit markets are just beginning to thaw after a year of Arctic-like inactivity. Banks are also very hesitant to lend to a new company with no assets, revenues, or receivables,
  • Equity financing. The spectrum here is represented on one end by your own savings and on the other by VC or other institutional funding. Friends and family are a great source of equity investment if your needs are modest (and you are comfortable that the risk is manageable). Angel investors are also a good route to explore; according to the SBA, over 50,000 companies are funded by angels every year with over $23 billion invested!

FIND INVESTORS WHO HAVE SOMETHING TO TEACH YOU. Remember that there are lots of smart people out there from whose experience you can benefit. Leverage that knowledge to adjust your pitch, iterate your idea, and emerge stronger. Being humble is a strength, not a weakness and you have embarked on a very steep learning curve. If you are fortunate you will find investors to help you move up that curve. This applies no matter where you go for funding – VC’s, Angels, Private Equity, and Banks are all great sources of knowledge, experience, and feedback and you should take full advantage of this invaluable resource. (photo credit: no-name-face)

DO NOT BACK DOWN. You’re going to meet lots of potential investors with lots of tough questions and a deep, deep well-spring of skepticism. Answer their questions, defend your assumptions, showcase your research. Then move on to the next pitch. Don’t let the inevitable “no” deter you from your task, which is to raise funds for your dream. Entrepreneurs are a tough breed and the process of getting to Yes will toughen you further.

YOU ARE THE INVESTMENT. Remember that until that first dollar of revenue is earned, what you are asking people to invest in is not so much the “idea” as it it is you. There are tons of great ideas out there, but investors will be looking as much at you, your experience, your abilities, and your judgment as they are your idea.. If they do not have confidence in your ability to execute your plan, they will not take the risk. Period. So be prepared for the  inescapable questions about why they should invest in you as much as you are ready to tell them why they should invest in your new business. (photo credit: Living in Monrovia)

Pepsi and Will.i.am think crowdsourcing is cool–do you?

Monday, October 5th, 2009

So I’m laying on my couch, watching my stories (one of my many reality tv shows that Kevin likes to call “stories”) when a commercial comes on.  Usually I flip over to E! during this time to catch up on my news, but for some reason, this commercial caught my attention. Will.i.am, from the Black Eyed Peas, was sitting in a studio, trying to mix some music (forgive me, I clearly lack the lingo for this) and wasn’t “feelin it.” He started walking the streets of what looked like New York and WHAM – every street he turned on had some sort of magical inspiration for him.  From a boy banging on buckets, to basketballs being dribbled, to a woman humming – he came up with an idea to record all these sounds and mix them together, which would in turn create his next huge hit.

I looked into this commercial further and learned Will.i.am has partnered with Pepsi to create a unique music collaboration for the “Ultimate Refresh” of the new single “La La La” by electro hip-hop duo LMFAO. Will.i.am  is joining Pepsi and LMFAO to produce a user-generated video and music track that will be available to consumers in December 2009.  This very smart company, Reality Digital, developed an application specifically for this Pepsi Challenge.  The QuadMasher(TM), takes all these noises, sounds and music and basically “mashes” them all together.  Basically the contest is asking music lovers to produce their own version of LMFAO’s “La La La,” showcasing one of four talents: vocals, melody, chords or percussion.  The winners will then be on the actual new single. For more information on this project, click here.

Pretty cool right?  Or is it?  What do you think?  Do you think this is a cutting-edge idea for the music industry, which will ultimately generate more crowdsourced songs like this or do you think Will.i.am is selling out?  What other industries do you think will move towards having a crowdsourced option?

crowdSPRING Welcomes The World

Saturday, October 3rd, 2009

The below map (part of our analytics report) put a smile on my face this morning. During the past quarter, people from nearly every single country on Earth visited the crowdSPRING community.

Small Biz Spotlight of the Week

Friday, October 2nd, 2009

This is the first of many blog entries to come, which will feature some of the companies using crowdSPRING.  If you’d like to be featured send an email here.

Divercity

What happens when a company whose business is all about helping clients build their brand needs some branding of their own?  For Divercity, an urban, multicultural advertising agency headquartered in New York City, they quickly realized that branding oneself might just be the hardest task they’ve had to face yet.  So, in the true spirit of two heads are better than one, they decided they’d like to get as much input as possible on this important project.  If their brand isn’t one of the coolest and most relatable brands ever made, why would their clients trust them with theirs?

Divercity is now checking out crowdSPRING, which seems to fit perfectly with their philosophies of always having an unlimited network of freelancers on board to ensure you squeeze every ounce of creative juice from as many different and diverse people as possible in order to ultimately obtain that perfect logo design.

It will be very interesting to see what this group of young, energetic city dwelling marketers chooses to brand themselves.  Will these six branding powerhouses that brand the likes of the Virginia Lottery, American Cancer Society, Crown Royal and the American Heart Association pick the right logo for themselves?  When speaking with Divercity’s CEO, Ron Payton, he shared a little advice for picking that perfect logo, saying:

My advice is make sure you’re design is simplistic, iconic and an accurate representation of your company’s culture. Always, think outside the box….get as many creatives on the job as possible and keep an open mind!

To follow the progress of this project, or to participate in creating Divercity’s new logo, visit Divercity’s logo design project on crowdSPRING.

Let us know what you think!  Give your opinion on what logo you think they should pick.