Understanding 'Crowdfunding' functionality


Crowdfunding is a new type of voting tool in Brightidea that allows business units to source financial investment to launch key development projects within WebStorm!

 

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Table of Contents

Getting Started

  • First, to get started with Crowdfunding capability, the administrator will first need to enable the WebStorm beta option "Enable Crowdfunding" under the BETA tab in WebStorm setup. 
  • Once enabled, the administrator can then enable "Crowdfunding" under the WebStorm Setup --> Ideas --> Voting

 

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Submitting a new 'Crowdfunding' Idea

  • When "Crowdfunding" is enabled, a new area will appear in the Post Idea page under the additional submission questions.

 

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  • Here, the user will see all crowdfunding components:

1) Funding Duration

    • The funding duration is the amount of time an idea is collecting resources for the idea.
    • By default, this time is set to one month from idea submission -  however the idea submitter can choice any future date for their funding duration period.

2) Funding Goal

    • The funding goal is be the minimum amount needed to complete the project. It consists of both budget and resources:
      • Monetary Amount - Enter the dollar amount needed to complete the funding goal for your idea.
      • Resources - Resources consist of a name and a month count.
        • The idea submitter has the option of entering in the resource name (e.g. Engineering or QA) and the amount of "man months" each resource can/will commit.
        • By default, there are three resource fields available and the idea submitter can add more as needed.

Funding an Idea

  • With Crowdfunding enabled, each Challenge participant will have the ability to elect funding to any submitted idea.
    • Funding ideas can be performed from the Idea Board page or View Idea 2.0 Page by selecting the "Fund This Idea" button:

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  • When any user clicks the "Fund This Idea' button, a popup will then appear where the user can enter funding data for the idea.
    • Pledge Amount: Enter the desired dollar amount which will be pledged to the selected idea.
    • Resource Amount: Enter the amount of resources pledged to this idea.
    • Notes: A text input where a user can write specific notes about their funding allocations.

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    • Select the "Fund Idea" button to save the pledge amount and update the idea with the added pledge.

Editing Funding

  • If an idea has been funded, any user who has elected funding can edit their allocations by selecting the orange "Edit Fund" button on the View Idea 2.0 page,

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    • Once the desired funding changes are made, the user can update the allocation by selecting the "Save Edit" button on the pop-up,

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Funding Statistics

  • Funding Statistics will be shown on both the Idea Board and the View Idea 2.0 pages.
    • Users can see the following statistics:
      • Percentage completed of funding goal (also noted in the green status bar under the idea board image)
      • Dollar amount pledged towards idea.
      • Days left until funding goal completion.

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  • Once an idea has reached its funding goal, the idea will display: "This idea was successfully funded!" message:

 

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  • Ideas that do not reach their funding goal will display the "Did not reach funding goal" message on both pages:

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Crowdfunding Stats Widget

  • The "Funding Stats' widget can be added to any View Idea 2.0 page from the widget drop-down menu to show further idea funding statistics:

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  • This widget displays the following information:
    1. # of Participants who funded the idea
    2. Total amount of budget pledged to the idea (sum of all backers)
    3. Days left to go (using the Funding Duration date)
      • Note: Selecting this area will toggle a popup to show list of users who funded the idea.

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Important Things to Note:

  • The administrator must enable View Idea 2.0 and/or Idea Boards in order to use 'Crowdfunding'
  • As of now, this feature only supports American dollar currency notation.
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