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Co-founder of Pozible and Birchal, Alan Crabbe brought crowdfunding to Australia and Asia pacific. Combining his background in web application design with his entrepreneurial spirit, Alan and his co-founder built the Pozible platform to help creators fund new projects and ideas.
The platform helped creatives build audiences, raise capital and get ideas off the ground and in just 10 years, it has grown exponentially. Hosting thousands of projects in Australia and distributing over $97.5 million since its launch, Crabbe has defined equity crowdfunding, giving brands a chance to connect with investors.
“We spotted this opportunity because we were working with quite a bit of artists and we thought we could adapt this music platform to find a more sustainable way to run another marketplace by picking up on trends around crowdfunding and group buying” – Alan Crabbe
Discussion With Alan Crabbe On Crowdfunding, Tech, And Entrepreneurship
“Anybody that’s been successful knows it’s all about the team they’ve been able to attract and build.” – Alan Crabbe
Hitting the scene in 2010, crowdfunding was just a bleep on the radar. Fast forward 10 years, it’s now a buzz word that builds communities and creates exciting opportunities for start-ups.
As an entrepreneur himself, Pozible and Birchal weren’t Alan’s first endeavours. His creative entrepreneurial spirit came after a tech start-up that was spun out from Queen’s University in Northern Ireland, where he studied a Bachelor of Science, Business and Information Technology.
Inspired by design, innovation and new ideas that can change the world, Alan brought that same energy to his crowdfunding platforms and hopes to inspire others to do the same!
“Driven by experience, the next threshold, the next milestone – you have to be prepared that this is going to be your life. It’s a constant learning lesson.” – Alan Crabbe
The conversation covers:
- Coining the term crowdfunding (3:00)
- Why bring crowdfunding to Australia? (5:15)
- Two sides of the business: Pozible & Birchal (7:00)
- How has the entrepreneurial journey been? (8:15)
- Balancing your responsibilities as a business owner for scalability (11:30)
- Working with founders (14:00)
- Particular verticals enjoyed over others (17:00)
- How does a brand know it’s time to start raising some capital (19:20)
- Product vs brand vs distribution — what do you focus on? (21:30)
- Channels that work extremely well for growth and acquisition strategies that don’t cost a fortune (25:00)
- Common myths in the crowdfunding industry debunked (27:30)
- Trends in the crowdfunding space during COVID-19 (29:00)
- The T’s: target market size, traction, timing (32:15)
- Formulas for valuing new businesses — it all comes down to forecasting (34:00)
- Tech vs service based businesses (36:00)
- How much you’re willing to pay to play (37:00)
“The biggest thing is control. If you have a vision of what you want and how you want to achieve it – and how you want it to flow through every aspect – design, manufacturing, marketing, turnaround times. If you’re manufacturing locally, you have control over that whole process.” – Massih Aimaq
You’re in or you’re out
If you aren’t willing to invest time and energy into making the brand a stand out, the likelihood of you securing funding in a sea full of start-ups is slim to none.
Whether you’re a small start-up looking to make it big or an investor searching for your next venture, commitment in the cause is one of the most important ways to achieve ultimate success.
“Once you’ve built a following and you’ve gathered true brand fans, that is an opportunity to invite these people in to be a part of your journey.” – Alan Crabbe
