Alec Lynch is one of the founders of DesignCrowd, a marketplace for crowdsourced design services. He talks to Pete about the challenges (and benefits) of getting investment and also gives some great tips on using the DesignCrowd service successfully.
As a lot of you may know, a few years ago, I was very lucky to be one of the finalists in the Ernst & Young Entrepreneur of the Year awards for the telecommunications business I’m involved with. Well, Alec went through the EoY program this year, and did a little better than me – he was named Emerging Entrepreneur of the Year in the Eastern Region (2014).
His business, DesignCrowd, is all about crowdsourcing design work. It’s one of those platforms where you can put a brief about your project (e.g. you need a logo, a book cover, or a banner designed), and then designers from all around the world will do a spec work and present you with their best ideas. You then get to choose the one you like the best. It’s like a smorgasbord of graphics!
Alec has grown his platform to be one of the largest in the world. If you’re not familiar with it, we talked a lot about the platform, the pros and cons, how to get good results out of it, and more importantly, how Alec bootstrapped and built his business. There’s definitely lessons in that for you to grow your business as well.
There have been some criticisms to the crowdsourcing model of winner-takes-all (i.e. you now have 107 people who have invested an hour of their time to design up a logo; but out of that 107, 106 of them are not going to get paid for that time). How does DesignCrowd address this and other similar concerns? Listen to this episode of PreneurCast with Alec and find out.
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Links From This Episode:
- Download the 7 Levers of Business Report
- Try out DesignCrowd.com, the crowdsourced design service
- Check out earHeroSports.com.au, Pete’s new business venture
Books Mentioned in This Episode:
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