School: Wharton School
Registration Link: REGISTER HERE
Start Date: December 4, 2017 (4 Weeks Long)
Workload: Not Specified.
Instructor: Ethan Mollick
Credentials: A 2014 member of Poets&Quants’ ‘Best Business Professors Under 40,’ Mollick teaches several courses at the Wharton School, including Entrepreneurship, Venture Implementation, and Innovation, Change, and Entrepreneurship. He was the 2017 winner of the Outstanding Publication in Organizational Behavior and ranks among the 100 most downloaded authors in leading academic journals according to the Social Science Research Network. He holds MBA and Ph.D. degrees from MIT.
Graded: Students must pass four quizzes and complete a peer-reviewed assignment to complete the course. Please note that some assignments may not be available unless you purchase a certificate.
Description: A generation ago, would-be entrepreneurs would seek funding from banks or venture capitalists. They would assume interest payment or give up a share of equity. Crowdfunding has turned this model on its head. Using social media, entrepreneurs can widen and deepen their reach, raising small amounts from large numbers. This method also cuts the time and money it takes to attract potential investors, enabling entrepreneurs to get their products to market faster.
Of course, some campaigns are more successful than others. Kristen Bell, for example, helped launch a Kickstarter campaign that enabled her to take her Veronica Mars television show to the big screen with $5.7 million dollars in funding. That is often the exception as many crowdfunding campaigns are mired in incompetence and fraud.
In this course, Mollick focuses on the science and psychology behind crowdfunding to understand why some succeed and others fail. Using videos and case readings, the course will examine the following areas:
- What are the differences between reward-based and equity campaigns, along with the advantages and disadvantages of each?
- How can social media and home-grown networks amplify your message and expand your reach?
- What are the steps and best practices in developing a successful campaign?
- How do you calculate your timeframe and the right funding amount?
- What messaging strategies work best in attracting the most interest and funding?
- What should you do after you’ve received funding to successfully deliver your product to market?
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