Crowdfunding has been trailblazing across the globe proving to be one of the most dynamic financial resource available for business startups as well as for small and medium-sized enterprises. It has entered the Asian market and countries are starting to take notice as evidenced by legislative proposals to try and incorporate and regulate the platform into economic growth.
Social funding also has a ripple effect with other industries making it possible for their resurgence and finding their niche in the market. The property industry, which was once ran by a small number of affluent investors have started to tap into regular investors through the crowdfunding platform. It has included a lot more players in the investing industry.
Another industry that traces parts of its roots to crowdfunding is Publishizer. The company that has coined the term crowd-publishing introduces the avant garde idea of helping book authors get a running start with their books by giving them an audience with potential Publishers. In the process, the authors can gauge their market by offering pre-orders on their piece as well.
Guy Vincent, the chief executive officer of Publishizer has come a long way from testing the waters with an e-book meant to be an AdWords experiment and trying to secretly crowdfund his girlfriend’s album for her birthday. Now, he heads a company that helps hundreds of authors give out direct and targeted book proposals to dozens of publishers.
Publishizer is a game changer
Mr Vincent says “our differentiator is you’ll end up with publishing interest from a wide variety of different publishers, to get the best publisher for you” when asked what sets them apart from the normal crowdfunding procedure. Instead of waiting for a book to raise enough funds that can allow authors to self publish, Publishizer puts the authors in the radar of publishers early on.
The success of the company can be largely credited to almost two years of a learning curve. Even before being accepted into 500 Startups, a startup accelerator in Silicon Valley that invested US$100,000 in the company, Vincent had to bootstrap and use his own money. He had to dip into his life savings from his corporate job at that time just to get the company running.
“It took us two years to find our product market fit – matching authors with publishers – and now we’re focused on growing the company in a scalable and profitable way,” Mr Vincent said as he recalled his journey in the past years. “You gotta hustle” he added when he looked back at how he was able to steer the company to where it is now. He explained that startups would have to take in full responsibility regardless if they fail or succeed and work hard because no one else is going to do it for them .
Crowdfunding works in the publishing sector because it gives publishers data they need to make informed business decisions. They are able to use the platform as a tool to gauge a piece before they pick it up. On the other hand, the authors are also able to raise money and even increase their chances of finding readership.
He understands that crowdfunding is relatively new in Asia but once it takes hold and gain more following, a new wave of creativity will emerge from the region. It has already started in the US and even in Europe and with the way things are going, Asia is not far behind and is poised to take the platform by storm.
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This article is written by the Crowdfunders Editorial Team. In Asia, Crowdfunders.Asia is a leading portal on providing news related to crowdfunding, start-up, property and business. It is operated by CoAssets.com. CoAssets is South East Asia’s first listed and largest real estate crowdfunding platform. If you have any Crowdfunding news or stories to share, please email [email protected]