Texas Crowdfunding: Looking for Big Wins $5,000 at a Time

There’s a very scary fact buried in this article about Crowdfunding. Most won’t even notice it, but if you’re a business owner, it’s probably more important to you than the main message in the article.

Sure, it is nice to know that there’s a new way for business startups or business owners who have a big dream to raise the capital necessary to launch or grow. But what you need to see most importantly is the fact that nearly 90% of new businesses fail!

That’s right – only 10-15% of new businesses will survive and provide a return to their investors and a future for their team members and owners! It’s SCARY!

So what should you do? Just make sure you place as much focus and energy on the detailed execution of your business as you do on your plan to market and promote your business. Many can put together a good plan, but only a few can execute it well – and execution wins out every time!

Rich Allen’s comments on the below article,

Bret Wintrom for AustinInno writes: Eugene Kim is at his new desk on the 3rd of July, a day when most are soaking up rays at the lake or en route to an Independence Day bash. His office is mostly a barren landscape. And he said his apartment is still mostly empty space strewn with boxes.

But Kim is excited and right on point as he talks about what he believes is the next big thing — intrastate crowdfunding. It’s a new, state-approved way for non-millionaires to invest in private ventures, whether it’s a startup tech business or a senior living facility. And Kim is in charge of the first office in Austin specializing in this new form of collecting cash from the masses.

Few people have heard of intrastate crowdfunding. But already the state securities board has approved eight companies to operate crowdfunding web sites that, like Kickstarter or Indiegogo, can offer multiple projects for investors, and five more are pending state approval.

NextSeed, the company Kim works with as vice president of strategy, opened shop at the WeWork space at 6th and Congress on July 1. The Houston-based company was also the first in Texas to close an intrastate crowdfunding campaign when a Houston hair salon drew $25,000 from 17 investors. SNIP, the article continues @ The Beat, AustinInno, click here to continue reading…