Explain the concepts of “Kickstarter” and “Crowdsourcing”.

Posted: July 12th, 2022

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Please answer the following questions:
1) Both companies were founded by women entrepreneurs. Please research at least two (2) resources dedicated to the advancement of women entrepreneurs. These can be local or national; private of governmental; large associations or upstart organizations. Provide an overview of these organizations. What specifically are they doing to achieve their mission? Please cite two relevant and important statistics you identify in your research pertaining to women entrepreneurs.
2) Both businesses featured were started with personal savings. This is a common formula for entrepreneurial ventures, known as “Bootstrapping”. Is bootstrapping a good or bad strategy? Please state how much money each business raised. Then explain the concepts of “Kickstarter” and “Crowdsourcing”. Is this fundraising method legal in Florida? Lastly, explain two (2) other approaches Plucked and Drought could have used to raise money? Support your conclusions with research citations.
3) The subject of price was discussed in both segments. How much was Drought charging for its product? How much was Plucked charging for its service? Please investigate the issue of “Pricing” and discuss what you identified in your research as the most important factor for small businesses to consider when pricing a product or service. Please cite your sources.
4) This program was produced in 2014. It’s now 2021. The choice of a 2014 video was intentional because it allows us to identify whether the original visions of the business owners was achieved. Imagine you’re an investor in 2014. Each of these companies approaches you for a $10,000 investment. Which company would you choose, and why? Support your decision with research pertaining to investor considerations when investing in Small Businesses. Be sure to cite your sources.
5) What legal issue do you feel it would be most important for the manager of each small business to understand? You should choose from the topics provided in your Law@Work. resource. There is no right or wrong answer here, since the issues affect all businesses. Rather, I am looking for depth of critical thinking. You should choose one issue per company and discuss your rationale. The importance of the issue depends upon the nature of the work. Imagine you are managing each company. What would be the legal concept you’d most be concerned about, and why?
It should be 3 pages in length and in APA style. Here is a resource to guide you.. Please use headings to delineate your answers and provide structure to your paper.

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