3 Simple Ways to Understand Crowdfunding and Harness the Power of this Hot Trend!
by Patty Lennon
Crowdfunding–the ability for a large group of people to band together and make small investments that collectively are enough to fund a project or startup–is becoming a hot trend.
Technology platforms like Indiegogo and Kickstarter make it possible for individuals and small teams to harness the power of social media to create a crowdfunding campaign. Millions of dollars are raised by individuals and businesses each month through crowdfunding.
Despite the enormous cash flow passing through the crowdfunding space, there are few regulations around crowdfunding, which leaves it feeling more like the wild, wild west than the traditional finance industry. This makes many entrepreneurs resistant to utilizing this powerful business growth opportunity.
Perhaps you’ve heard about crowdfunding and are excited at the prospect of accessing risk-free cash to grow your business or launch your latest endeavor but aren’t sure how or when to start.
Here are few quick tips that are helpful to anyone, anywhere on their path to crowdfunding:
Subscribe to a crowdfunding site like Kickstarter or Indiegogo. You’ll receive weekly summaries of campaigns that are successful. This will “prime the pump” with inspiration when/if you decide to crowdfund yourself.
Make small contributions to a few campaigns, even $1 works. This increases what I call your “crowdfunding karma” by connecting you with the energy of this community. You’ll also notice what campaigns called to you and why. This will leave you better prepared to design your own campaign when you decide to crowdfund.
Become more likeable. This is not something you can fake but it’s not hard either. Just be helpful to other people. Give information, support or love. Give freely. This will pay you huge dividends if you decide to run a crowdfunding campaign by having a sea of people ready to send that love and support back your way. Even if you don’t think you’ll ever crowdfund, being a likeable person is one of the keys to success in this new global marketplace. (The good guys and gals are winning. Pick the right team!)
Want to learn more? Attend Patty’s free webinar! Coming up with SocialBuzzU… DETAILS ARE HERE.
Patty Lennon plunged headfirst into the Wild West World of crowdfunding in 2012 when she decided to go outside the sponsor world to raise $45,000 for her Mom Gets A Business Conference through crowdfunding. A former VP at a global bank and business coach, she quickly unlocked the formula to successful crowdfunding and is passionate about sharing this valuable business growth and marketing strategy with entrepreneurs everywhere!