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Kickstarter investigates drone project that raised millions and gave backers nothing

(TECH NEWS) After years of successfully helping startups raise capital, the biggest Kickstarter biggest bust to date has entrepreneurs wondering if consumers will lose faith in crowd-sourcing.

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After years of successfully helping startups raise capital, Kickstarter’s biggest bust to date has entrepreneurs wondering if consumers will lose faith in crowd-sourcing.

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The Welsh start-up, Torquing Group, received a lot of positive media attention and several large investments towards its project of creating a handheld consumer drone. The Zano drone was set to make a huge splash. Consumers were promised a drone that could be controlled remotely by following the motions of your smartphone, that would avoid obstacles, and that would shoot excellent aerial footage, including selfies.

“Supply chain is 100% ready to go”

After receiving backing from a major investor, Torquing started a Kickstarter campaign to raise £125,000 (about $190,000) to build Zano drones. The Kickstarter page promised reward drones to donors, ensuring them that Torquing’s “supply chain is 100% ready to go, from vital components that make Zano fly, to the very boxes that Zano is packaged in.”

Torquing’s Kickstart page also had a video demonstrating Zano in flight, and the project was even listed prominently as a Kickstarter Staff Pick.

Zano was shortlisted for a Best of CES (the International Consumer Electronics Showcase) Award. Besides promising reward drones for Kickstarter donors, Torquing also collected 3,000 pre-orders. Torquing seemed poised for success.

And in fact, the company exceeded their goals significantly. Using Kickstarter, they met their initial fundraising goal within ten days, and continued to raise funds until they finally ended their campaign last January, with 12,000 backers pledging £2.5 million (about $3.5 million), becoming Europe’s most successful Kickstarter campaign to date.

Pre-orders were lemons

Donors were promised their reward drones by June 2015, but as summer rolled around, it was clear that there would be delays. In September, about 600 Zano drones were delivered to customers who had put in pre-orders, which seriously hacked off the Kickstarter donors, who felt that their reward drones should have been delivered first and foremost. But what was worse – the customers who received Zanos complained that they barely worked. Zano turned out to be a lemon who could barely get off the ground, much less avoid obstacles and take selfies.

In October of this year, Torquing announced that reward drones would be delivered by February 2016, but the next month, the company used their Kickstarter page to announce that they were liquidating.

The company has closed, the staff has been laid off, and assets will be sold to pay outstanding bills.

Apparently the company blew through the £2.5 million pounds collected on Kickstarter, and also racked up an additional £1 million in debt.

Scam or bad luck?

Production for Zanos was halted, and only four reward Zanos were ever delivered to Kickstarter donors. Those who did receive pre-order drones found their Zanos permanently grounded, because the drones relied on Torquing’s supercomputer, which was shut down after the liquidation.

The company has vanished from Kickstarter, and has refused to answer to the demands of either donors or the site itself. Concerned that this epic failure would besmirch its reputation, Kickstarter asked journalist Mark Harris to investigate what went wrong. Was Torquing running a scam all along? Or did they just have terrible luck? And to what extend it Kickstarter accountable for the mistake?

Read the whole story of what happened on the inside at Torquing.

#KickstarterScam

Ellen Vessels, a Staff Writer at The American Genius, is respected for their wide range of work, with a focus on generational marketing and business trends. Ellen is also a performance artist when not writing, and has a passion for sustainability, social justice, and the arts.

Real Estate Technology

Do you give out your phone number? You may want to rethink…

(TECHNOLOGY) As a real estate agent, its tempting to give out your number to whoever asks for it. But be cautious of what exactly you’re giving out.

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Man giving out phone number using his phone representing addiction.

Friendly reminder: You do not need to share your cell phone number with everyone.

This sounds like a simple statement, but with the abundance of accounts and reliance on technology for pure convenience, most people freely give away their personal numbers without considering the consequences.

An extension of yourself

As the dependency on smartphones has increased, privacy standards have decreased.

Using a phone number to unlock an account or shop online is so common that many people don’t think twice before typing it in.

Even if this nonchalant attitude has never led to anything detrimental, there is always the possibility of your account being hacked. Having your phone number attached to this account will only make everything worse. For example, if a hacker finds their way into a Macy’s database, they can use the phone numbers tied to member accounts to access other information.

By simply knowing your cell phone number, all the accounts associated with it are jeopardized.

Think of how many times you have been asked for your cell phone number. Of course, disregard the interested strangers, family and friends and you’ll find that this sharing still occurs multiple times throughout the week. Email and social media pages may ask for it to verify your account. Retailers may ask for it for marketing purposes.

Bank accounts, rewards programs, and even ordering a pizza requires you to share your number.

Keep it secret, keep it safe

Luckily, there are a few things you can do to prevent hackers from stealing your information.

The first thing is simple, don’t share your phone number with everyone. Just because a customer service representative or online form asks for your number does not mean that it is required. You can deny their request if it is not mandatory. Second, don’t open links sent via text from numbers you do not recognize. Sending these links is a common way hackers use phone numbers to access other information.

You can also have a separate phone number for personal use to limit contact from spammers and unknown callers.

Never be afraid to ask questions when it comes to your privacy. Though freely sharing personal information is the norm these days, it does not mean that you have to participate.

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Real Estate Technology

Rating the quality of your meetings could create more efficient work teams

(TECHNOLOGY) SurveySparrow has a plugin that allows you to rate meetings. It could help you and your team evaluate and improve future meetings.

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We love data. We are in a data-driven world. We like giving our feedback via customer reviews, social media comments, surveys, and Twitter (yes, Bob, everyone knows your flight was delayed). Tell us what the data says. Well, it might be a great time to finally get some data on all those meetings you’ve been having.

Many people are sick of meetings; we sit in a lot of them that then need follow-ups because either we didn’t have an agenda, or we didn’t get through the agenda. There also may be additional meetings because no one really knows what is going on, or people are unable to have a solid plan in place (thanks to the global pandemic) and require more frequent check-ins/status updates.

Perhaps we’d all dread meetings less if they could be improved and justified as a much better use of time. G suite just made available a free plugin, by SurveySparrow, that could possibly help your company improve your meetings:

RateTheMeeting helps you improve meetings by collecting feedback to understand what works and what doesn’t for your teams, divisions, or company. With this data (feedback), it might be possible to stick to agendas and the purpose of the meeting, prevent topics that require a separate discussion and make sure that everyone’s time is well spent. It syncs to your calendar and automatically follows up with attendees to collect feedback after each meeting. You can see how it works on YouTube here.

While this seems like a helpful tool, the biggest hurdle may come from management first. They may not want feedback on meetings if they feel that meetings are necessary and the most valuable way to communicate for their teams. It also might be one more data set that they have to sort and mine.

Next, employees may not want to rate each meeting on top of their already busy schedules. They likely would only want to do this if it would make real change within the meeting culture of the organization. Either way, it might be nice to just offer a thumbs up or thumbs down for each meeting (for funsies?).

It’s always hard to please everyone, so you’ll just have to decide if adding this function is more trouble than it’s worth.

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Real Estate Technology

20 free professional marketing tools to kickstart growth for your business

(TECHNOLOGY) Running a small business is a ton of work and you need all the help you can get. Here are 20 free tools that help make it a little easier.

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digital tools

When running your business, big or small, you’re only as good as what’s in your arsenal. This applies to your ability to be creative and think on your feet, as well as to have tangible tools at your disposal.

Below, we’ve outlined 20 of the top free tools that are designed to help grow your business – let us know in the comments what you love or what you’d add!

  1. Google Analytics – this is a definite need. With the world continuing to grow more and more digital, it’s necessary to know how your business is operating in the online realm. Google Analytics provides data about your small business, including traffic to your site and clicks on links. It gives you an idea of who is visiting and when, allows you to track your goals, and generate audience reports. Google also offers virtual classes that teach you how to master the platform.
  2. Hotjar – want to understand exactly how visitors are using your site without getting lost in the shuffle of numbers and data? Hotjar is where it’s at. You can see a user’s behavior and their exact process of perusing the site. There are also tools like feedback polls that allow your audience to interact with you when using your site.
  3. Canva – this is one of the best visual tools to create graphics for your company, both to print for physical display and to use on social media. The platform is easy-to-use and allows for a myriad of sizing options, backgrounds, and stock images.
  4. ProProfs Help Desk – this is a ticketing system that allows your visitors to contact customer service and start a thread of communication; all while keeping everything ticketed and organized. This also allows for shared inboxes, ticket resolution via chat, and ticket reduction up to 80% with knowledge base.
  5. JungleScout – this is your best friend when it comes to learning to sell on Amazon. Regardless of where you are in your seller journey, this tool will help you maximize your skillset.
  6. Kickstarter – crowdsourcing for your business without giving away the equity. This lets you recruit micro-investors and donors for your new business venture.
  7. MailChimp – This is an all-in-one tool that is necessary for all small business users. According to their website, “Bring your audience data, marketing channels, and insights together so you can reach your goals faster. With Mailchimp, you can promote your business across email, social, landing pages, shoppable landing pages, postcards, and more — all from a single platform.”
  8. Shopify – this platform has helped over one million businesses around the world and is continuing to help small businesses thrive. Shopify allows users to create and design an eCommerce website that is backed by helpful tools that help discover new customers, drive sales, and manage your business’s day-to-day operations.
  9. Buffer – provides simple social media tools that receive authentic engagement. Tell the story of your brand while growing your audience. The platform includes publishing, analytics, and engagement.
  10. Qualaroo – this is a customer and user feedback software that states its value as ten times higher than email surveys. It comes with what you need for useful feedback, including AI-powered analytics and reports.
  11. Zapier – a platform to connect your apps and automate workflow. Zapier moves information automatically between your web applications, allowing for more focus on the most important work.
  12. Doodle – a scheduling platform that allows meetings to be booked faster and smarter. No more need for an hour of back-and-forth emailing in order to nail down a meeting time.
  13. Docracy – a home for contracts and other legal documents, created by the community that uses them. The idea is to make these common documents easily available for everyone.
  14. Slack – the ideal way to communicate with your team and keep everyone on the same page at all times. This is a central communication hub where you and your team will stay in the loop, ask questions, and share updates.
  15. GoDaddy Website Builder – this is an extremely user-friendly tool that allows you to build websites that looks as though you paid someone hundreds to build it for you. There are many options for customization, and they have the tools that help your site look great on both desktop and mobile.
  16. ToDoIst – For many, it’s impossible to stay organized without the use of a to-do list. With this tool, you (and your team!) can stay organized with the most important tasks and priorities.
  17. Grammarly – When writing copy for your business’s brand, it is important to have as many eyes read through it as possible for any errors. Grammarly is a tool where you can plug your copy in and it will automatically find and highlight any grammar errors or typos. You can never be too careful!
  18. AdobeSign – Formerly known as EchoSign, this tool allows for paperless signatures that help make signing contracts and agreements as easy as the swipe of a finger.
  19. Sumo – a platform filled with tools to help you grow your website. It’s a free email capturing tool that takes only seconds to sign up.
  20. Pixabay – We don’t always have the time or the money to take photos to go along with our website copy and social media posts. Pixabay helps alleviate that need with free stock images that will help your message pop.

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