Understanding the newest monetary trends – security tokens and their role

The era of security token has already begun, and if you don’t already know at least the basics of the subject, starting your research should be done immediately. Whether your professional activities revolve around the financial market or not, being aware of the latest and most interesting monetary trends is still necessary, the information obtained being valuable in various scenarios. Venture capital funding has certainly been exceeded in 2017 by ICO’s investment volume. Initial Coin Offerings are now more popular than ever. While some time ago, crowd funding initiatives were improperly regulated, now investors as well as startups have become more aware of the legal and regulatory landscape of ICOs. Among the numerous details that should be known on the topic, the following info remains most crucial in regards to token regulations/ security tokens:

What exactly is a token?

First, you should get a clear perspective on what a token is and what it can be used for. A clear definition cannot, however, be provided, considering these can  have different function and take various forms. Tokens can represent filecoins, bitcoin (internal currency systems and their balance), US dollar deposits and the list can go on. A token will usually have one or several of the following roles: digital assets, currencies, company stakes, payments on systems, products or services, rewards. Recently, the term token has been most widely used in regards to cryptocurrencies, this being the FinTech trend that has changed the way we see our financial future.

Legal perspective

With the increase of digital assets, and new altcoins emerging on the market with regularity, investors as well as creators are often faced with the question of how their asset will be treated by regulatory authorities. When the cryptocurrency trend has first exploded, lack of regulations was a worrying issue, but things seem to go in another direction now, more precaution measures being taken constantly. Consider the mufti-facet reality of token, classifying them through a legal stand can be challenging, so governments across the globe are still searching for viable ways of taxing cryptocurrencies by the book. It might still take a while until a clear regulatory system will be built. Therefore, the classic, traditional legal and regulatory classifications cannot be used when it comes to cryptocurrencies and their industry reach. The lack of a clear regulatory system means that investors need to choose carefully their approach, in order to not be faced with challenges or scams.

Token categories

The most important detail you should be aware of, when looking into the whole token subject is that there are two clear categories in which these tokens are separated. The first are named utility tokens, and what these stand for is the means of accessing a specific product or service. To fully understand the role of utility token you could correlate them to a software license, or a gift card. The second category, and the more important one, considering the current position of cryptocurrencies in the financial industry, is the security token. These are considered as an investment opportunity, a contract that provides you with potential future gains, coming from price appreciation, dividends or revenue share. The potential gains are the use-case that determine investors to take an interest in a specific security token. Token offerings are extremely versatile, the number of possibilities available for investors in 2018 being larger than ever,, some of which are even structured as a form of donation, with gains being directed towards charities. However, legal protection isn’t something you will be gaining as an investor, considering the fluctuating structure of this concept.

Security vs. utility tokens

To be able to differentiate a security token from an utility one. While there are many nuances that need to be addressed in order for a token to truly be considered a security one, two questions remain the most important ones for a first classification. In order for the said token to be classified into the security range, the answers to the following 2 questions need to be “yes. The first one and the most important is if the said token is being sold as an investment, and the second if there’s a person you will rely on as an investor. Who will be creating the value of the token? Is the token desirable among investments? What kind of use-value does it provide? Future profits potential needs to be researched as well as the reliability behind the person or the network developing the said security token concept. What you should also know is that a token can change their position, and switch from security to utility, and the other way around, especially when the use-value is still in development process.

Proper security token structure and its benefits

Security tokens that are being issued under certain regulative frameworks, such as regulation crowdfunding or regulation A+ benefit from a more affordable and rapid implementation process than a public offering that comes as a utility token. Legal risks are also reduced this way, this is why, the majority of startups interesting in ICOs development usually go towards the security token direction. Security tokens will soon benefit from far more legal support, various buyer rights, expectations and precautions being developed that are meant to ensure a more effective investment protection. So, as a potential investment, you should first analyze the structure of the security token you have taken an interest in and asses the benefits you might be granted with (dividends or profit share for example).  

With FinTech trends merging and cryptocurrency movements taking a leading stand in the financial industry, it seems that things have been revolutionize tremendously in how people see and handle their finances and investments. Security tokens have become a “hot” topic of discussion lately, bringing new opportunities to the table to investors and organizations. Now that you know a bit more on the topic, and have some basic understanding of this monetary trend, perhaps you’ll start using the opportunities available to your own personal advantage.  

The Best Time To Apply for a Business Loan

Any kind of new startup starts with the same basics:  Background research and market testing to see if the product or service has a sustainable potential customer base; how much the startup can qualify for in seed money; where that money might be coming from; and, most importantly, the best time to be applying for loans and seed money from either the private sector or from government funding agencies. Timing is an essential ingredient in the financial success of every initial startup. Experienced entrepreneurs insist that this is the only way a successful startup can begin.

In North America, specifically in Canada, a new business owner needs to have been operating for a minimum of six months in order to be able to seek for either a Merchant Cash Advance or the government Small Business Loan, but the timing of the application can make that particular prerequisite of less than significant importance. A transaction history that indicates even a month or two of timely financial responsibility with both customers and vendors will be of great worth to even the greenest of business owners. What lenders look for more than anything else in a brand new operation is transparent financial operations and a constant stability that indicates monetary maturity, no matter how small the operating capital initially may be.

The importance of a good credit history

Never walk into a lender’s office without a spotless credit history to display. While a personal credit history may be less than stellar and still allow borrowers to obtain seed money and credit, any business hoping for a sizable loan must had an absolutely spotless credit record going back at least two years, or since the inception of the corporation or limited liability partnership. Financial officers today are willing to overlook a bit of youthful indiscretion when it comes to personal finances, but they remain intolerant of professional business credit failures and will not offer a single penny to any business that does not possess a sterling credit history. In Canada, a free credit history is available at Credit Canada.

Remember seasonality

A seasonal business, one that is tied into a holiday such as Christmas or a season such as summer, needs to be aware, of course , of when peak consumer purchasing is likely to occur, and to time their applications for loans accordingly. This is what the Merchant Cash Advance lending program was specifically set up for. This allows for much more flexibility in making up an annual business budget. During slow sales months, repayments can be lowered or even dispensed with altogether.

Application timing

Applying for a loan when business is in a seasonal or cyclic slump is not a good idea. Lenders traditionally look for strong performance before they open their purses. So the smart business owner plans to apply for loans when their business experiences a sudden surge in sales or when the peak sales season starts. That’s smart timing.

Once a business has established a relationship with a lender and show that it can pay back loans on a timely basis, a business owner may then feel more confident in going to see their lender for unexpected downturns and emergencies.

 

 

Top Payment Processors for Collecting Online Credit Card Transactions

You need to have a payment gateway in place if you plan of accepting credit card payments on your website, and today, it’s absolutely necessary. There are a few common names in the industry, but that doesn’t necessarily mean you have to use them.

Below, we have input from several business owners who are explaining why the use who they use and provide honest feedback regarding their experiences. Use their feedback and recommendations to explore new payment processor opportunities, whether you are looking for your first one or are looking for companies to rate shop against.

QuickBooks

“We use QuickBooks to process our payments. We love the fact that our clients can click right on the invoice and pay, we don’t like the high interest rates they charge for absolutely no reason other than to gouge us.” — Ben Walker, Founder of Transcription Outsourcing, LLC

Payza

“Payza is used by many, and there are two reasons why it’s hard to beat. Consumers trust it and they like knowing it’s secure and reliable, and second, it integrates with everything. Businesses that aren’t using it are missing opportunities.” — Ari Evans of AAA Handbags

Local

“We go through out local bank and the reason we do is because the rate we receive is very competitive and based on how long we have been their customer. Everything is integrated smoothly so it makes everything easier on our accounting department. For what we need, it’s a great partnership.” — Christopher Dziak, CEO of Pure Nootropics

Rotessa

“We use Stripe and Rotessa, they are both great because it is a set it and forget it cost effective automated process, together with an integration to collect which provides notifications when issues arise. I appreciate it is secure and I am comfortable with storing my client’s personal data there.” — Shawn Freeman, Founder and CEO of TWT Group

CMS

“CMS. They are brutally expensive. Also not the most fun to deal with. The onboarding process was probably the only thing to date that has been above average.  This is probably why the costs are so high with them.” — Marc Webb, Founder of Real PDL Help

2CheckOut

“2Checkout is one of the easiest in terms of getting set up and as far as integrations go. There isn’t any application we have found that didn’t just plug in with 2CheckOut. It’s an industry leader and their payout speeds are very fast, which as a business owner is very important. We love them.” — Jim Epton of Dom Huga Ltd

Payment Cloud

“Payment Cloud is one that we have been looking at. It has some nice features and it’s always a good idea to look at other available options. There is a lot of competition these days and companies are often slashing fees to move over, which can be huge savings for some.” — Matt Herron, CEO of AnswerFirst

Authorize.net

“Authorize.net is one of the oldest and most trustworthy payment gateways available. They have great rates and their customer service is top notch. They are also one of the big 3 (I would say Stripe and PayPal are up there with them) that integrate with almost all invoicing tools and shopping carts.” — Tom Munroe, CEO of RugStudio

Recurly

“We have used a number of different processors. Authorize.net was originally used and we customized the connection with a custom shopping cart. Since then, we have used Recurly and even PayPal buttons for easy integration.” — Shawn Schulze of HomeArea.com

Stripe

“We use Stripe, primarily because of the modern technology and security features. There’s peace of mind that comes from not having to process or store sensitive financial information ourselves. The only complaint is that it can be hard to negotiate rates until you’re processing significant volume.“ — Sean Christman, Founder of Slamdot

Square

“Square is a good option that many online businesses can use to not only handle payments, but also build their online store on, using their website builder. The entire platform has come a long way and evolved into a complete e-commerce tool. Their portable reader is also great for in person charges.” — Andrew Tran, Founder of Therapy

Bank’s Provider

“Our payment processor is set up directly with our bank’s merchant account who we’ve had a relationship with for decades. Anytime we’ve had issues or questions about fees, we’re able to get those issues resolved quickly and efficiently instead of having to wait for overseas support.” — Joseph W. Belluck of Belluck & Fox, LLP

PayPal

“We chose PayPal because they have a full-featured product and are easy to set up. An easy setup was required because credit card payments are not the major revenue source for our business so keeping setup costs down was a priority.” — Matthew Kolb of All High Schools

Transferring Your Skills From One Industry To The Next

Throughout an individual’s working career, they can have between 5 and 7 jobs. That means some professionals average a job change every few years.

Rather than leaving behind our experiences and starting fresh, we often take the skills we’ve developed into our new positions, which indeed proves an advantage for us and our next employer.

This doesn’t mean that every talent you have developed will be useful in your new job. But, more often than not, there are some basic skills that are transferable. These types of skills are often put into three categories: functional skills; personal traits/attitudes; and knowledge-based.

Functional skills are those that people use to accomplish tasks, such as writing. Personal attitudes or traits are those that make up your personality, such as independent, quick learner, etc. Knowledge-based skills are ones that you have developed with formal training, such as at business school or through accounting courses.

By having an idea – or better yet a list – of your strengths in each area, you will be able to see how you’ll fit into a new role.

Compare your talents and expertise to the new job requirements and see how you can fit into the role. This will help you sell yourself to the company or board by showing them you have skills that will be a boon to their business.

What are the must-have skills for today’s business leaders?

While most leaders come from various backgrounds, there are some basic talents they need to have developed to make them successful in any industry.

These include:

  1. Innovation: The ability to adapt and to think outside the box is crucial to many businesses. Oftentimes, we stick to what we know and continue to do things the way they have always been done. However, that is often not the best way to draw in new customers or to boost sales. By trying a fresh, original solution to a problem, leadership can advance the organization’s interest substantially.
  1. Technological acceptance: Needless to say, there have been major strides forward in the tech world over the past few decades and technology in many ways has substantially changed the landscape and environment we do business in. Moving forward into the 21st century, business leaders will need to implement – and be willing to implement – new technology to stay competitive.
  1. Human-ness: Despite an increase in automation of the workplace, managing people is still a major part of leadership in any industry. The executive who can demonstrate sensitivity, honesty and fairness will go a long way.

If the average person can expect to change their job every few years, it only makes sense to be prepared. By developing skills that can be useful in different industries and positions, leaders will be able to rise to new challenges no matter what industry they find themselves in.

Xunlei records impressive earnings in Q2 2018, thanks to blockchain and cloud

This week cloud giant Xunlei Limited announced its latest earnings for the second quarter of 2018. The company has been undergoing significant changes over the last few years, yielding positive financial results in the form of rising stock prices and year-on-year revenue increase. Key highlights include:

  • Cloud computing and other internet value-added services revenue saw substantial spike, representing an increase of 186.9% from the same period of 2017
  • Its shared computing model successfully dropped bandwidth costs, improving gross margin by 143% year-on-year
  • Net profit brought Xunlei out of the red, compared with a net loss of US$9.7 million in the second quarter last year

Some investors did question in the past whether Xunlei could adapt itself to the new tech world, especially when AI, big data and other emerging technology are on the rise. Well, it is now clear Xunlei’s CEO Lei Chen has a done an excellent job pivoting the company into a blockchain and cloud computing leader.

Xunlei’s business transformation initiative kicked off in 2014 with the appointment of Chen as its Chief Technology Officer, the company’s first official CTO in a decade. At that time, Xunlei’s download subscription service accounted for most revenues.

In July 2017, Chen took the helm as Xunlei’s official CEO. Chen’s first port of call as Xunlei’s newly appointed CEO was a dramatic but a natural shift in the company’s business model from distributed P2P technology to shared computing and blockchain. All these technologies share similar DNAs with features in decentralization and efficiency.

Onething Technologies was founded as a subsidiary to meet market demands in this space. Notable products include shared computing intelligent hardware solution for individuals, OneThing Cloud; enterprise-level IaaS and CDN service platform StellarCloud; high-performance blockchain platform, ThunderChain along with a decentralized file system ThunderChain File System (TCFS).

Benefiting from the successful transformation strategy, Xunlei’s cloud revenues grew to more than half of total revenues. As of June 2018, Xunlei’s shares were priced at US $12.95, a 282% increase from the previous year. The company has effectively made the transition to a cloud and blockchain company.

On top of strong financial performance, Xunlei’s significant strides in shared computing and blockchain technology have garnered notable industry accolades, including citation in a research paper by China’s Ministry of Industry and Information Technology, and Xinhua Net’s “Outstanding Entrepreneurship and Innovation Project”.

Without question, Xunlei’s future continues to expand around blockchain.

As Chen said, it’s ThunderChain platform and shared cloud computing will help bridge today’s divides between the emerging technology and real economy. The ThunderChain Open Platform has been seeing an increasing number of startups and developers adopt its infrastructure to create applications across various sectors. Xunlei is positioned as the first choice for Dapps, especially those that intend to reach a great number of users.

Why Is It Beneficial to Work With House Flippers?

When you have a job working with real estate, you are going to help different clients all the time. Each client may come to you only once or twice in their lifetime, especially if they are making an investment on a home they want to live in for the rest of their lives. If they decide to move again in the future, they may choose to contact you for help, but the majority of past clients will not need the help. While you may enjoy helping people find their dream homes, having repeat business is important because it is how you are going to earn your money.

If you want to repeatedly work with certain clients, you should find people who buy homes to flip them. These people are always looking to borrow from private money lenders to purchase more homes because they want to renovate them and sell them at a higher price. If you were working with several different people who are working in the house flipping industry, you could have constant repeat business that would make it much easier for you to sell properties in no time.

The Flipping Process

The flipping process is a process that involves purchasing undesirable homes. Some of these homes are considered undesirable because they need to have a lot of work done to them while others are simply located in bad locations. These undesirable properties take a while to sell, but not when you are selling them to people who are in the house flipping business. A person who flips homes needs to figure out how much the property is selling for and how much they are going to need to spend on renovations and other expenses.

Providing Recommendations on Different Properties

Some flippers prefer homes that only need some small renovations completed while others are more willing to take on the larger tasks. If you are working with flippers, they may want you to contact them as soon as you have a good property for them that is currently up for sale. If you see something that has a low asking price, you should let one of the flippers know because they may be even more willing to buy the property if they know they are not going to need to spend much money to get it.

Opportunities to Improve a Property

There are quite a few flippers who take great pride in turning nothing into something by completely renovating abandoned homes that needed tons of renovations. They may choose to make such drastic changes that will instantly increase the value of the property. If you see some of these old and outdated properties on the market and they are selling for such low prices, you could let the flippers know because one of them would likely want to make the purchase.

Find Buyers For the New Homes

The flippers will enjoy working with you even more if you can help them find the right buyers for the properties they are renovating. When people come to you on the search to find a home that is right for them, you may be able to suggest one of the homes that have been recently renovated by one of the flippers you are working with, letting the potential buyers know of all the upgrades that have recently been made.

Those who flip houses play such a significant role in the real estate industry because they are willing to purchase undesirable properties, renovate them, and provide new and updated homes to the potential buyers. If you want to have repeat business, you should work with these professionals. They could help you bring in even more income as you start to get a bit of a positive reputation among the house flipper community.

Jacob Gottlieb: The New CEO Of Altium Capital

Jacob Gottlieb Gottlieb has been an investor who has partaken in a number of projects, giving rise to companies all over the country. The main sector that Gottlieb has been investing in is the healthcare sector. One of the companies that Gottlieb has been leading is called Visium, which is a company that focuses on improving the efficiency of companies within the medical industry. Before 2016, Gottlieb led the company alongside a number of business partners. However, a trading scandal that disrupted the flow of work at the company resulted in a lot of the leaders at the company being reprimanded. Gottlieb was one of the people at the company who emerged as completely clean during this time, which is why he was seen as the best person to take over the entire company and be put into the position of CIO of Visium.

Gottlieb has had an impressive past that has led him to be the notable name that he has today.

A lot of the interests that he cultivated were as a result of the exposure that he got from his parents. His mother worked as a doctor, and his father worked as an economics professor. He got exposure to the financial and healthcare industry very early on, which is what also had an impact on the investment ventures that he was interested in making. At an early age, he began using his talent for investments to help several companies and get financial stability for himself. This talent was also nurtured by his Gottlieb’s father, who decided to set up a trading account for him to be able to conduct trades and use his skills.

When Gottlieb completed high school, he started to get more fascinated with medicine and decided to pursue this at the NYU School of Medicine. However, his love for finance also prevailed at this point, which is why he decided that a good route for him to take would be to get a degree in finance as well.

Jacob Gottlieb started out on his first professional venture in 1998, which was after he got his financial degree. He started working for a company as an analyst. The company dealt with a lot of companies working in healthcare, which is what got Gottlieb thinking that he could combine his two passions. He had a brilliant tenure working at this company before he moved on to other professional endeavors. The next place that Gottlieb started to work at was Balyasny Asset Management, a company that specializes in investment management solutions for healthcare companies. This again was a good fit for Gottlieb, and he soon became known as a valuable member of the company.

Today, Jacob Gottlieb works at Altium Capital and stands as the CEO. This was a recent shift that Gottlieb took on, and was an incredibly beneficial one, both for him and the company that he is now working at. As the CEO of the company, Gottlieb plans to take the company to new heights and plans to bring forth a number of beneficial changes to the workings of Altium Capital.

 

Private Equity Due Diligence Is Important In Mergers, Purchases And Acquisitions

Before the Securities Act of 1933 became law, the investment industry was like the Wild West. Investment brokers and deal makers could hide their dirty business laundry under false statements and bogus figures. It was up to potential investors to check financial records, study the profit to earnings ratio, and uncover the mistakes that many businesses make in order to make their earnings report look respectable. But the Securities Act changed the playing field for securities brokers and dealers. They had to disclose all the information about assets or face criminal prosecution. As long as brokers and dealers performed due diligence they were safe even damaging information about an asset popped up after a due diligence investigation.

In today’s merger and acquisition industry, private equity due diligence is standard operating procedure. A due diligence meeting is always part of an initial public offering. And businesses and individual investors call for a due diligence investigation before they invest in a new asset. In order to perform a proper due diligence investigation, brokers, businesses, and individuals should follow the ten basic due diligence steps.

Some businesses use professional due diligence investigators like Corporate Resolutions to put check marks after each completed due diligence step. Corporate Resolutions does the heavy due diligence lifting for the private equity community as well as law firms, healthcare companies, insurance companies, alternative asset funds, and multinational corporations. Corporate Resolutions specializes in company and individual background checks in the United States as well as in other industrialized countries.

The Ten Due Diligence Steps Every Investor Should Perform

Corporate Resolutions has several steps businesses take when performing a due diligence investigation are standard steps. Some companies may dig deeper when they uncover questionable issues during one or more of these steps. But when a business or an individual follows all ten steps, all the issues pertaining to the purchase of an asset should be on the table for discussion and resolutions.

Step One: Establish the total value of a company or asset. A company’s market capitalization will reveal how broad the ownership is, and how volatile the stock is as well as the size of that company’s market. Large-cap companies usually have larger revenue streams and a diverse investor base, and those things reduce volatility. Small and mid-cap companies have a smaller market share. Their stock tends to fluctuate more.

Step Two: Study the Revenue and Margin Trends. Investors have to know the gross margin and gross revenue trends as well as the return on equity. Shrinking gross revenue is a red flag while growing revenue streams shows a company is expanding in their market.

Step Three: Study The Industry and The Competitors. Competition defines a company, so it’s important to know who the competition is, and how big they are in a particular market. Tracking industry trends is another important step. It’s important to know where a potential asset stands in their main industry.

Step Four: Investors Must Dig Into The Price-To-Earnings Ratio. Plus, investors should have an understanding of the price-to-earnings to growth ratio as well as the price-to-sales ratio.

Step Five: Study The Management And Find Out Who Owns Shares In The Company. If there are frequent upper management changes and board changes, the company may have internal operating issues that could impact the bottom line.

Step Six: Examine The Stock Price History. If the company’s stock goes up and down frequently, there are market and internal issues that need attention. If the stock price is smooth and steady, the company usually has a handle on their business.

Step Seven: Study The Balance Sheet. The numbers don’t lie when all the numbers are accurate. Investors have to go over a balance sheet line by line in order to understand the health of any asset.

Step Eight: Dig Into The 10-K And 10-Q Reports. Make sure all SEC reports are up to speed, and all outstanding stock options are on the table. Stock options can be great motivation tools, but they can be shady, so it’s important to study the conversion expectations.

Step Nine: Temper Expectations. A new product or service may have sizzle appeal, but not all the sizzle turns into steak when those products and services reach the market.

Step Ten: Examine The Long And Short Term Risks. There are always risks attached to mergers, acquisitions, and sales. Those risks should be front and center during a due diligence investigation.

Search Engine Optimization

Parxavenue Top Calgary Search Engine Optimization Company – SEO and SEM

What’s the point of building a website if it’s going to rank on Google’s last page?

Building a website in 2018 is a lot different than it was 10 or 15 years ago. Back in the day; companies could create a website and use all kinds of flashy and spammy methods to rank their site in search engines, and it was quite easy to do. Search engines’ algorithms have become a lot smarter in the past decade and can now detect these old-school methods in a matter of seconds. Can you imagine a time when you can rank on Google’s first page 24 hours after building a website stuffed with 20 exact match keywords? Ranking your site used to be, that easy!

Many penalties have been given out lately as algorithms get smarter with the growth of technology. If your website has been penalized in any way whatsoever, many experts in the SEO industry will tell you that it might be easier to purchase a new domain and start fresh. Recovering from a penalty is time-consuming. Building back the trust you once had, won’t be easy – possible, yes, but not easy.

Parxavenue Ltd. an excellent SEO company based in Calgary, Alberta; has experimented with multiple domains, using all major search engines to see how hard they can “push.” The answers didn’t come right away, but after a few short months, they did find out how easy it is to receive a penalty and even have your website de-indexed!

Search Engine Optimization
Calgary SEO – Calgary SEM – Parxavenue Top Search Engine Optimization

If your SEO staff, team, or agency is using “Old-School” methods today in 2018, be aware that these techniques will catch up to you faster than you might be thinking. The best-ranking websites from any niche market have a very natural flow to them, using exact match keywords only when completely necessary. When working with the best SEO tools on the market today, it is quite clear that you have to follow Google’s best practices and again, that’s how simple it is. “Don’t be Evil” For helpful information regarding the best ways to go about working on your own website’s SEO, please click here.

Crowdfunding: The Musical Way

Despite the tragedies that occur each day, whether they make the headlines of our favorite international current affairs programs or not, it is important to remember that there is still goodness in humanity. This belief serves to keep the spark lit for hope in our continuing survival as a species. There is greatness in the human collective maximizing their ability to come together for causes greater and external to themselves. There is no situation where this is more obvious than crowdfunding.

Crowdfunding is, to put quite simply, the act of gathering funds to propel a project, a cause, or a business idea by reaching out for help on a local, national, and international level. Typically, a large number of people contribute a minimal amount of money, which compounds to realize the creator’s ultimate fundraising goals. The essence of fundraising, that has been in existence from before we are accurately able to recollect historically, remains the same, but now it is notably much bigger and far-reaching with the use of the world wide web.

Crowdfunding has, especially within the past few years, leveraged the increasingly advancing technology available to us, to connect a significantly large cross-section of individuals from varying backgrounds to put support behind any number of requests. There are a number of crowdfunding websites that can be accessed within two clicks. Many have settled into specific niches to focus only on one or two themes, while others invite an open space for ventures of any background to garner support. Kickstarter is one that is particularly popular with small businesses, start-ups, and solopreneurs who just need that extra ‘kick’ to really get their products or other business ventures off the ground. It is hyper-focused in its design on allowing businesses to showcase their products in the clearest, and attractive way possible, that will make viewers and potential ‘backers’ feel intensely compelled to be apart of their journey.

Crowdfunding platforms offer entrepreneurial individuals the opportunity to gain a significant level of success that they may not have been able to access without having their business venture shared far and wide. Kickstarter alone, as of mid-June, has a record of more than fourteen million ‘backers’ that have helped to fund more than 145,000 projects on their platform. Coupled with the fact that there isn’t any conclusive data on the number of crowdfunding sites that exist globally, these platforms are only becoming stronger and more entrenched into the ways that businesses plot out their financial future.

The fast-moving trait of social media can accept much of the praise for how successful campaigns continue to be. With social media, not only are you able to share the campaign and call-for-actions with a new audience, but the viral potential is heightened by potential funders getting the opportunity to become more closely associated with the brand, business, or individuals behind campaigns.

Another major reason that crowdfunding continues to work, is the existence of digital, as well as physical incentives that are offered to those that contribute to the campaign. Many of these incentives typically include exclusive perks for being one of the first to get their hands on the new product, often with multiple free accessories thrown in for good measure. Individuals are given multiple tier options when considering contributing, so there is no judgment or pressure to cough up an exorbitant amount of cash on the outset. Every little bit helps, and not isolating potential supporters due to economic capabilities is important to any campaign’s success.

Below are three inspirational crowdfunding campaigns that garnered full financial backing within their first twenty-four hours:

 

  • Ava Ukulele

 

It’s no surprise that music is universal, but the jaw-dropping success of the Ava Ukulele crowdfunding campaign on the Kickstarter is proof that there is more to the story. Developed my Novako Music, the Ava Ukulele is an adventure-proof improvement to its traditional counterpart, bringing the ukulele into the hands of adventurers that need a sturdy, crisp musical companion for their travels.

Within just sixteen hours after the Kickstarter campaign went live, Ava reached its $30,000 goal. Now Novako Music can go full speed ahead with the manufacturing plan for their thoughtfully-engineered product that is obviously already making waves. Of course, from a user’s perspective, it should work very similarly to a regular ukulele, but its novel features have definitely sparked a wide interest with instrument experts and amateurs alike. From a Silent Mode that allows for earphone compatibility so that others aren’t disturbed while you’re playing, a retractable forearm rest that enables compact storage for traveling, to amplification facilitated by electric signals to play through a speaker, the Ava Ukulele deserves its resounding early success.

 

  • Pirl Charger

 

In general, people like novel ideas that are rooted in a dedication to innovating parts of our daily routine, and the Pirl Charger is no different. Borne from frustration with chargers that are either too clunky, charge too slow, or were just merely uninspiring in design, Pirl is a portable four-port charger that charges multiple USB devices quickly and efficiently. This charger has the added feature of informing you on a bright LED-display just how much wattage is being used for power, keeping you informed in a way that your regularly overheating charging ports. It delivers 2.7 amps per port and 50 watts of total power. They achieved their funding goal of $8000 within the first nine hours of the campaign by enthusiastic tech-lovers that are usually on the lookout for the next best thing for their devices. The Pirl Charger is well on its way to global popularity while disrupting the way we think about powering our most important devices.

 

  • Firefly

 

We all like products that will make different aspects of our lives easier in some way. With Firefly, an “advanced situational awareness wireless earphones” with a Bluetooth 5.0 connection and artificial intelligence controlled by voice, the problems caused by not being fully aware of your surroundings while listening to your favorite playlist are becoming a thing of the past. Jabees, the company behind this accessory that more than doubled its funding goal of $10,000 within the first twenty-four hours of the campaign, were interested in developing a product that tackled the issue of the countless pedestrians living in urban spaces that are prone to walking within their own bubble on the streets, not fully cognizant of the dangers driving all around them with each step. The situational awareness feature of Firefly is dedicated to filtering in external sounds, even while music is playing, to allow joggers and daily commuters to stay alert for the sake of their safety. It undoubtedly has an interestingly sleek design, but supporters are definitely passionate about innovative accessories that can make navigating our world just a bit safer every day.

One of the many reasons that crowdfunding works is its unique ability to build diverse virtual communities that can propel a product engineered with talent and passion, to its fullest potential. The above examples are just a snapshot of the thousands of ambitious business ventures that have been ravenously supported by individual funders that see their potential and are willing to become a part of their journey. Isn’t that what life is really about? Playing your part, no matter how seemingly small, to give support, inspiration, and motivation to the people that need it the most.