When you “don’t know what to do”, you seek information. Then you may know what to do, but the danger is you don’t do it. So, what we want to focus on is the WHEN to do it” because this helps you to avoid procrastination. The infuriating “should I” “could I” thoughts that take over your mental processes and permit you to rationalise your procrastination, delay your action to accomplish your goal.
If you check out the timeline at the bottom of the page you’ll see what you do in different stages of a crowdfund, from the pre-planning, all the way till after the crowdfund. We find this helpful when helping to coordinate successful campaigns. The colour differentiates the different stages, the upper block that runs consistently throughout is your engagement – We see honest engagement with your audience and networks as a core to sustainable enterprise development.
We have assumed that in the initial strategic planning stage you have already vetted your project/ idea as a good Crowdfunding opportunity (if you don’t know, ask us as we can help you to assess the feasibility of your project). Each stage prior to the crowdfunding is extensive in itself and deserves full attention to detail.
In summary, use this timeline to assess where you are in your process and what you need to do to get to the next stage. If you need any help, get in touch.
In crowdfunding and engagement campaigns this ‘calm’ isn’t so tantalising. We can’t stress more about our shiver of concern with regards to the pro-active and enthusiastic crowdfunder who only focuses on the things they’ll need for their profile page. He makes a compelling video, has a fair product and writes about his vision, and does a little due diligence in choosing an appropriate platform. Hastily, he jumps on, uploads, and sits on the edge of his seat and waits. With his fingers crossed, he envisions the success and the potential of the next 8 weeks of his campaign. However often, at this point nothing happens.
SoLoCo, was originally a crowdfunding platform, and we have seen this happen often! SO – why does it happen and what are things you can do to prevent it?
Is it a bad project? A lack of passion? One thing for sure is it’s not pessimism. One P-word to address today is the ‘Pre’. The Pre is for that meticulous part before the crowdfund. Assuming that all variables are fair; project, personality, vision, etc. The campaign should unfold to be a success; however, as ever your preparation and a well thought-out strategy is huge and will enable you to really launch your project with the momentum necessary to achieve your goal. In a well thought-out marketing strategy for crowdfunding there is always one primary emphasis – how and who can you engage with.
If you are curious or pro-active about doing this, then start by grabbing a sheet of paper and brainstorming all the contacts that you know. This means; business contacts, twitter followers, friends, family, friends of friends, linked-In members, associations you’re part of, etc; all folks that might be interested or that can help out; anybody who you know who is influential. These fundamental networks will be the foundation to the success of your project, they will stimulate the momentum and the seemingly ‘big hit’ effect that will trigger the followers to reach out after the crowdfund is launched. Remember people don’t just jump on a platform with £20 and think who am I going to help out today. So you want to aim to have a fifth or even a quarter of your goal already donated before the campaign is launched – that way, when it is launched people are drawn to your immediate success. After all, people want to be part of the next big thing, right?
I certainly am filling large shoes talking about this subject. I know there is already a tonne of information about which crowdfunding platforms to use and the differences in their perks.
Envisioning how you’re going to attract your early adopters, that stage of raising capital and literally bursting into the live .com stage is often quite a daunting and exhilarating thought, wouldn’t you say?
Despite the whole crowdfunding topic becoming quite a saturated space online, today I want to raise a couple of thoughts. Things to consider when it comes to YOU and the “Platform Choosing Time”. We all know that there are a dozen plus platforms available. Each platform provides a slightly different reach, has a couple of percentage points different with regards to the fee for hosting, and hosts for community specific genres and locations.
Dealing with numerous clients, this is always an interesting topic of conversation. We advise you to assess your choice through the segmentation of your audience; demographically, geographically and through your audiences values, ie. Where they’re based, what they believe in and things like they’re income, nationalities, gender and age – Think, what kind of person uses my product/ service?
Consider this; your value proposition is for your audience so it makes total sense to position yourself most visibly in all aspects or your segmentation. Secondly consider the purpose of your crowdfund – Are you looking to raise money through sharing equity or aim to raise money through donations or is your business considering the crowdfunding model purely for an engagement campaign?
We’ve made a Segmentation takeaway for you to jot some notes and thoughts down to help you decide which platform is best for you.
Here are some crowdfunding platforms that you may want to consider;
People fund it
OR your own technology! (get in touch if you want to find out more about this)
Can you remember way back when you were a wee, never exhausted smiley child?
You would go out and affront the world with no concern, all humility and do your best at every shot, whether it was building the most stunning sand castle in your sand pit, or an incredible drawing for your mother. Then came along Mr opinion, closely associated to you – a friend or sadly, maybe a parent that came down on you and your creation giggling and said “what’s that?” in a condescending tone. From there on in, the story built a sad ending on the marvels of your creativity. You are never simply bad at drawing or finding solutions, you have simply conditioned yourself repetitively, to remember that you are just “not good at it”.
Shame isn’t it? Just think, there could have been the eradication of some really serious social issues if this were not the case.
So, how does this relate to what we do? For your campaign to be successful be yourself towards a member of your tribe without driving your service at every opportunity. Establish authentic ways to engage with your communities online. Firstly take pride in your creative thought and secondly, don’t let other people and their judgmental selves dictate the real you.