Do you ever have an idea that you can’t quite shake? Or an idea and you’re not sure if it has legs or not? Or an idea that you’d like to just bounce off a few other people and get some feedback?
What if there was a community that you could share these ideas with? A place where your ideas could be tested, refined and critiqued.
Crowdcube, Angel.co and others like them have sought to make investing more accessible – and they’ve done a great job. But there might be another way to inject some life into an idea at super seed stage with a small investment (of less than £10,000 total) from a group of people. I’d like to get together with a group of like-minded people over the course of a year to share ideas, encourage one another and at the end of it all put our money where our mouth is.
Some initial guiding principles:
- Everyone kicks in £569. £500 goes into the investment fund (money-pot) and £69 goes into administration/central funds.
- The money-pot is the collective responsibility of the group. We choose what to do with it together. One person does not have more influence than another.
- At the end of the year the group will choose to invest in an idea. Sure, it’s not going to be a lot of money but it could be enough to seed something and give life to something.
- This is like a mastermind group with a greater purpose, a group of people with skin in the game
- Create a community of likeminded people to bounce ideas off another
- The idea that the group choose to invest in can either be an idea that came from the group collectively, an individual within the group, or an external idea but it must be ‘sponsored’ by one member of the group and they have the responsibility to ‘pitch’ the idea to the rest of the group
- Create a short application process and have a group of 7-13 people
The Group Commitment
- Meet once per month online via Google Hangouts
- Meet 3 times in person for between half a day and a day. Once at the beginning (the agreement), once in the middle (the check up), once at the end (the decision).
This is about rallying around a common set of values or principles for how to engage with one another over the course of our year together.
The check up
Mid-point full day check in. The group will need to decide exactly how to structure this time but it should include some form of idea sharing.
This is the end point, the culmination and celebration. We decide how to invest the money-pot as a group.
Each meeting (online and in person) is focussed on sharing ideas and learning. Everyone has to share something at each meeting. At the very least people will learn how to share ideas, pitch ideas, share learning and grow in community.
What do you think? Is this something you’d be interested in? If so, hit me up on twitter @jonnymccormick