It’s only failure if you didn’t learn anything from it: 7 Lessons from my pathetic attempt at crowdfunding (Part 1)

Recently, I embarked on an intriguing social experiment. If you are anything like me (wait, why would I imagine most of you are like me, that would make things really weird – for you!) you tend to see sales and that little spot in the back of your brain that struggles with impulse control starts flashing red and you immediately want it.

In my excitement, I immediately posted my new desired “baby” to Facebook, but I did it a little differently. See while my impulse control is sometimes out of whack, my “your spouse is gonna kill you if you try and purchase this” mechanism went straight to work. So being the innovative guy that I am – I asked all of my friends to help me fund this baby!

Yep. Could I engage 1500+ contacts (Facebook friends and Twitter followers) to participate in a low buy-in ($0.59 asked) process to fund a new computer? Could I motivate a large mass of people to be engaged and step out and do something? Now, for transparency sake, this entire process started more from a joke earlier that day. A colleague of mine pressed the right button by basically telling me to man-up and so the posts began.

There was a great flurry of interest to start. At least three people besides me posted in the first 15 minutes (ok so maybe flurry is a slight exaggeration). Things moved quickly and by the end of the first day I had raised about $11. Sadly, by the end of the third day I was only up to $18. And now, about three weeks later, my grand vision for getting other people to pay for a new laptop had fizzled out at a grand total of $25.46 (give or take a few pennies).

Tomorrow, the rest of the story.