Today Show: Crowd Rules Review
In the wake of the crowd-funding craze started by sites like Kickstarter, CNBC’s new television competition series called Crowd Rules gives three small business owners the opportunity to win $50,000 to invest in their business. Judges Kendra Scott and Pat Kiernan came on the show today to talk about Crowd Rules.
Crowd Rules Panelists Kendra Scott & Pat Kiernan
The panelists are mainly on the show to act as advocates for the people that will contribute to the crowd funding, so they have to ask a lot of tough questions of the contestants. Kendra Scott calls it tough love. Kendra, who started as a small business owner herself, knows where these contestants are at and knows what questions they have to be asked in order to take their businesses to the next level. Despite the common ground, though, they do have to make sure that these small businesses will actually be able to use the $50,000 productively.
Assessing the Businesses That Make It On Crowd Rules
$50,000 is no small amount of money to just give away, so the studio does not just take their word for it when a small business claims that they are running a tight ship. An expert is sent out to the business to check them out and make sure they’re legitimate. Despite the expertise backing Pat Kiernan and Kendra Scott’s opinions on Crowd Rules, though, they are only two of 100 votes, and they are often voted against.
Strangest Businesses On Crowd Rules
As with any reality show, you get your strange contestants every now and again. One guy had a stand-up desk that you hang on the back of your hotel room door. Another idea wanted to attach a pole for…exotic dancers is what we’ll call them…to the top of an ice cream truck. With that announcement mommies and daddies all over America breathed a sigh of relief knowing that some things are still held sacred.
Catch the premiere of Crowd Rules May 14 2013 on CNBC at 9:00 p.m. ET.