Start Up Wednesday - Crowd Funding

Guy working for Indiegogo came to talk about crowdfunding. I found the session interesting, it made me realise you can basically crowdfund anything, as long as you deliver on it.

Notes:
MARKETING IS EVERYTHING - and can get your concepts into retail! These cat ear headphones designed by two girls got off the ground via crowdfunding and now Ariana Grande has a line(?) of them.

There are different types of crowdfunding.

Rewards based crowdfunding - (Indiegogo, kickstarter, etc)

Debt Crowdfunding

Equity Crowdfunding

& Loands crowdfunding. 

A big point of crowdfunding it, it doesn't matter WHAT you're crowdfunding for, as long as you have a good campaign for people to believe in you. [Compelling reasons, good video, marketing etc]

Planning your Campaign

* Have an Idea

* Research & Plan

* Build a Team 

* Build your Audience

THE 30% RULE

IF YOU HIT 30% OF YOUR TARGET IN 2-5 DAYS, YOU WILL PROBABLY HIT YOUR GOAL. 

Set your target at the lowest you can possibly do whatever you're doing for, then anything over your target is 'profit' that can go into more of the project. 

When setting your goal consider costs 

cover unforseen costs

Tips:

Grow e-mail list, networking, tell people, start with family

you- family- community network - potential backers

Leverage social media, make a facebook page, share, share, share.

Give REWARDS - people will pay for exclusivity. 

You can always update your rewards / add more. 

It's all about marketing and creating LIKEABLE CONTENT, that people will want to share.

 

50% of traffic comes from social media, so make regular updates!

Make a Video!!

It's all about PPP, no not personal and professional practice but, PASSION, PRIDE and PARTICIPATION!