Crowdsourcing Your Funding

By: A Staff Writer

Updated on: Oct 25, 2024

Can ‘The Crowd’ Build Your Biz?

Crowdfunding goes beyond t-shirts. Here’s how to tap into the power of many for serious capital.

• Platform Choice is Key: Kickstarter for products, GoFundMe for causes, etc. Choose the right one for your audience.
• The Story Sells: Compelling video, passionate pitch, convey why this idea/product NEEDS to exist.
• Reward Tiers: Offer a range, from small feel-good donations, to exclusive perks for big backers.
• Build Buzz BEFORE Launch: Get people excited so you hit the ground running, not with crickets.
• Community is King: Engage with backers, updates, transparency, turns them into evangelists for your biz.
• Beyond the Money: Crowdfunding is market validation, attracts press…use that momentum even if you fall short.

Crowdfunding can be powerful, but requires strategic planning and hustle, not just putting up a page.