Close

Delete Collection?

Are you sure you want to delete this collection permanently?

Close

Delete Collection?

Are you sure you want to delete this collection permanently?

Everyone has a Story to Tell and an Experience to Share!

Let’s Start Writing
502a39aa-831a-418e-b20f-03f163f4cec7

6096 views

How to Successfully Crowdfund for Your Business

Crowdfunding isn't so much an art, as a science. If you know the secrets of how to set, meet and exceed your funding goals - crowdfunding is perhaps the most effective way to finance your business idea.

Crowdfunding can be intimidating to many entrepreneurs. While Angel Investors and Venture Capital firms are very difficult to obtain funding from, for some reason, they seem more achievable (and perhaps more appealing) than launching a successful crowdfunding campaign.

However, as former Marketing Director for a Crowdfunding Platform and currently preparing for a crowdfunding campaign myself, I can tell you that Crowdfunding is not only doable, in fact it's more easily attainable and in many ways more beneficial - especially for early stage founders. 

You don't need to have wealthy friends and family to successfully crowdfund. All of the companies I have coached for crowdfunding have met or exceeded their goals, almost entirely from online supporters. So what do you need? 

The following is a step by step guide to launch your campaign and fund your startup. 

Choose Your Platform.

If you are a female entrepreneur, I highly recommend iFundWomen. This platform has been gaining in popularity for good reason, it provides a technically sound, attractive platform along with a support network of coaches and founders. As soon as you express interest in crowdfunding with iFundWomen, you will be added to a private Slack channel. This channel has been incredibly helpful for advice and camaraderie during the crowdfunding process. 

If you are not a female founder, it still might be worth looking into smaller platforms instead of Kickstarter or Indiegogo - as it is easy to get lost in the masses on these. Whether you are providing rewards or equity in exchange for backer financing will also influence your decision. 

Plan Ahead. 

You cannot launch your campaign without preparation and expect it to go well. I suggest a 3 month runway to prep until launch. In this 3 month period there are a few key things you should focus on. I discuss these below. 

Social Media Growth. 

This is a big factor. Even if you can't afford to hire a social media manager, it is not impossible to grow your following fast before your campaign. If you are planning to raise $50,000 and up, I would suggest start working on your social media at least 6 months in advance. 

A great goal is to get your Instagram account (or Twitter account if you aren't a visual brand) to 10K before launch. The short version of how to do this is 1) post great content and 2) follow, unfollow and engage. 

Influencers. 

In order to meet your funding goal, your campaign needs exposure. Leading up to your campaign, reach out to social media influencers and journalists. You can often do trades or pay for influencer coverage, and for journalists you just need a compelling story (offering exclusives helps too.) 

Make a spreadsheet of influencers and journalists contacts and engage with them (authentically!) on social media. Get them to be familiar with your company, and help them understand why this is an exciting event to be involved in. Then, work out a deal to get them to publish posts or articles during the campaign. 

Community Outreach. 

Your community is what is going to make or break your campaign. It is important to let the people in your personal and professional circles know that a campaign is coming up soon. Start sending out newsletters or updates 3 months out from the campaign. Organize events - pop ups, art shows, speaker panels. This is a great way to build your audience leading up to the campaign and engage existing fans. 

These are the basic building blocks on which to build a successful campaign. For a more detailed plan, I highly recommend looking at iFundWomen's campaign guide.

Good luck on your campaign! 

Annie Brown is the founder of Lips, a creative sharing platform for women, and Marketing Director at Trolysis, a renewable energy company. 



Related Articles
#

There is no lack of evidence to support the fact that professionals in the sales sector can achieve performances which are superior to the average professional in the field when they are provided consistent and high-quality sales coaching from their mentors or their managers. The coach assigned with the task works to create improvements in the sales performances of the professionals.

These can be seen in the form of an increase in revenue, acquiring bigger deals, attaining higher close rates, negotiation of higher margins, deeper account penetration, and selling solutions among other major factors. The sales coach does this through imparting a direction and feedback on the performance of the sales professionals, using methods which are tried and tested through analysis of hundreds of sales measurement projects with the participation of organizations from over seventy countries across the world.

To decide whether you require the help of formal sales coaching is done through inspection of the current state of your sales teams and answer some important questions. First, you need to see if the sales goals, which were penned down by you, are being left incomplete due to your sales team having a few 2nd or 3rd quality members. Try to sense if the level of motivation in your sales team is low despite the best efforts of your sales leaders. Ask yourself if you would agree that formal sales coaching can play a role in uplifting the level of performances that your sales representatives have been delivering.

Sales leaders and managers benefit a lot from the core coaching skills and tools which are provided through this coaching. These are essential when it comes to the facilitation of the development of the sales team, which they lead with the help of a consistent process. The focus of the program lies towards contribution to the high level of performance from the sales team through the creation of standards of performance in clear sales, the tools and processes required to make successful sales.

This is accompanied by regular constructive feedback to the sales team for improving the methods and their efficiencies as they work on the development and monitor their sales plans for improvement in their performances. The workshop works for developing the optimal sales strategies, imparting the required knowledge as skills for your professionals and increase the engagement of your sales team along with their satisfaction to create a conductive environment for higher performances.

Reference Image
Close