David Griesing | Work Life Reward Author | Philadelphia

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Let the Crowds Fund Your Work

July 5, 2012 By David Griesing 1 Comment

We all want to do work that matters. But, as often as not, you won’t find that kind of work in the want ads.  It’s rarely work that somebody else gives you to do.  As often as not, you need to give yourself the kind of work that will change the world.

Early on in my forthcoming book WorkLifeReward: Following Your Values to Fulfilling Work is the line:

 If you want the world to be a better place, you need to help it become that better place.

The main way to do so, of course, is through the work you do.  So if you don’t think the work you’re doing—that is, your selling whatever it is that you’re selling today—is making the world into the kind of better place you want it to be, maybe it’s time to think about working at something that will make that kind of difference.

These posts are about encouraging you to think differently about your work.  They aim to raise what I call “value awareness,” so you have a clearer view of the color and texture of the better world you’d like to encourage with your efforts.  Sometimes they aim to help you become the most effective spokesperson you can be while striving to achieve your goals.  And sometimes the discussion here is about ways to make the productive work you want to do easier.

This post is about one of those booster rockets. Something has gotten a lot easier.

SEED CAPITAL

Creating a business model for a better world, where you and your co-conspirators are doing work that matters, takes energy, creativity, vision, tenacity, luck.  And it takes money that either you provide, or that people investing in your vision of a better world put in your hands.

In the good old days the money came almost exclusively from your own bank account or from friends and family.  (It was the era when those who already had money were usually the ones making more of it.)  On top of that, only a tiny percentage of new ideas—whether promising to change the world or not—managed to find venture capital.  So if you or a rich uncle weren’t providing the cash, even your brilliance, best intentions and limitless energy were often not enough to overcome the funding constraints all new companies that produce work need in order to survive.

But there’s some good news.  It’s a brand new day!

Today, crowdfunding websites give you the ability to make a direct appeal to individuals or groups who may be interested in supporting what you’re doing—because your kind of work is work that matters to them too.

You tell your story.  You identify your goal. The crowd decides whether to invest in it.  Usually harvested in small dollar amounts, it is hundreds, even thousands of small investments funneled through the crowdfunding site that can put the financial fuel in a new company’s tank.

As an entrepreneur, you promise to give your investors a tangible return on their investment.  It could be a letter from a grateful child your company has helped, a picture of the tree planted “because you invested,” or, if you are producing a brave new product or service, periodic updates on solutions to problems no one had gotten around to tackling before.

You get the idea.

For providing the conduit between you and your new investors, crowdfunding websites like MicroVentures, peerbackers, and IndieGoGo are generally paid a small percentage of what you collect—sometimes as little as 5%, when you hit your fundraising target.

LINE UP YOUR INVESTORS photo/John Cooper

What’s news this week (according to the Wall Street Journal) is that crowdfunding has its first “poster child.”

The Cinderella story is about how a little company called Pebble Technology developed a “smart” wristwatch that can display apps and connect to your smart phone to notify you about incoming tweets and Facebook updates.  But 26-year old Eric Migicovsky was almost out of money, living and working with his only employee in a rented condo, and ready to call it quits.

He took his case for financing the manufacture of his smart watch to crowdfunding site Kickstarter, looking for $100,000.  The ROI: everyone investing $115 would get one of his watches.

In its first 28 hours on Kickstarter, Pebble raised more than a million dollars. By mid-May, it had taken in a total of $10.27 million from 68,929 people!  Now Eric’s problems involve things like working with a manufacturing facility in China to produce all those watches.  But it also looks a lot like his work dream has become a reality.

Everybody needs to make a living.

What sometimes seems like the impossibility of getting both a paycheck and fulfillment from your work makes many of us reluctant to leave our paychecks for work that gives us the opportunity to make a living and to truly live.

Crowdfunding is reducing that risk.

Filed Under: *All Posts, Being Part of Something Bigger than Yourself, Entrepreneurship, Introducing Yourself & Your Work Tagged With: business models for a better world, crowdfunding, fulfillment, more than a living, productive work, social entrepreneur, Thinking differently about your work, work that matters

Recipe

March 29, 2012 By David Griesing 1 Comment

We all like feeling rewarded for work that makes things better. Many of us are finding this kind of satisfaction in social benefit games. At the same time, we’re also learning how to bring transformative change into the world by getting some practice first.

Your rewards include feeling good about yourself because of all you’re accomplishing and the abilities you’re developing while doing so. In social games like WeTopia, you reap other rewards too. There is pride in the growing productivity of your community, empowerment from your ability to support those in need, and your own increasing prosperity.

Games like this also bring the best ingredients of the for-profit and non-profit worlds together.

They give you the virtual experience of work where you can do well by doing good. They stir your imagination, and get you thinking about new kinds of work that you could be doing right now in the real world.

On the other hand, it’s disquieting to feel that someone is “behind our screens” watching us and gaining insights about human behavior because of how you, me (and millions like us) are playing these games. These social scientists and marketers are looking at how we respond to different sounds, colors and kinds of movement. They are even changing the variables we encounter in these games while we’re playing them to see if we do things differently or faster or better.

What’s going on here, and where is the upside for us in this kind of scrutiny?

Kristian Segerstrale is an economist and co-founder of a company called Playfish that makes on-line games. In an interview, he described the difficulty social scientists have traditionally had gaining reliable information from behavioral experiments because they can’t control the variables that exist in the real world. By contrast, in virtual worlds:

the data set is perfect. You know every data point with absolute certainty. In social networks you even know who the people are. You can slice and dice by gender, by age, by anything.

Segerstrale gave the following by way of example. If your on-line experience requires buying something, what happens to demand if you add a 5 percent tax to a product? What if you apply a 5 percent tax to one half of a group and a 7 percent tax to the other half? “You can conduct any experiment you want,” he says. “You might discover that women over 35 have a higher tolerance to a tax than males aged 15 to 20—stuff that’s just not possible to discover in the real world.”

What this means is that people who want to sell you things or motivate you to do something are now able to learn more than they have ever been able to learn before about what is likely to influence your behavior.

Being treated like ingredients to be “sliced and diced” has risks for us, but also possibilities.

None of us want to relinquish our freedom and become automatons, manipulated into doing what others want us to do. We do well to remember national experiments in social engineering, like the tragedy of the Cultural Revolution in China and the choreographed death spiral in North Korea.

 

But we also need to recognize the potential in this brave new world for good.

The behavior of millions of men and women whose voices had never been heard before was changed by lessons learned on-line, ultimately producing the Arab Spring.

The behavior of individuals facing repression every day in places like Iran and Syria is fortified by the virtual support of those who are struggling with them.

Your behavior, and the behavior of millions of people who are playing these social games, is being shaped and reinforced in similar ways. It is a training ground for changing the real world with new and better kinds of work.

Social benefit games are giving us a recipe for transformation—and the ingredients are getting better all the time.

Filed Under: *All Posts, Building Your Values into Your Work, Entrepreneurship Tagged With: better world, business models for a better world, change the world, fulfilling work, harvest, productive work, social benefit, social benefit games, social entrepreneur, visualize, work life reward, work that matters, yield

About David

David Griesing (@worklifeward) writes from Philadelphia.

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