Crowdfunding for business: 95 tips for crowdfunders from Crowdfunders
Crowdfunding is the perfect way to prove your business idea will work. When we give entrepreneurs a Virgin StartUp loan, we look for ways to prove the business is going to be a success. If that business has been crowdfunded, then we can see there’s already customers who want this business to exist – so it’s easier for us to give that entrepreneur a loan and a mentor.
It’s why we partnered with Crowdfunder to match fund those who raise money through them. Say you need £10,000 to launch your business, if you raise £5,000 through them, we will be able to provide the other £5,000 in the form of a startup loan.
With that in mind, we wanted to share this advice from Crowdfunder. It’s 95 Tips, For Crowdfunders From Crowdfunders.
By collating and sharing the best advice from the people that have literally “been there and crowdfunded the t-shirt” we’ve got an epic jam-packed free download for those just starting out on their business-funding journey.
#95Tips includes information on what make a great crowdfunding target, how to create brilliant rewards for supporters, how to make videos for promotion and how to utilize social media and marketing skills for the best support – including many other sections on the crowdfunding journey.
Here are seven of the contributions from #95Tips to give you a taster of what’s in store…
How to start your crowdfunding project:
Do your research! We looked into how much it would cost for us to bring a seven-day waste food cafe to Brighton. We checked out similar projects on Crowdfunder to make sure our target amount wasn’t unrealistic. Speaking to organisations which had run successful campaigns helped us a lot - we recommend you do the same for your project!
Samantha Dobbie, Co-Director The Real Junk Food Project, Brighton @realjunkfoodBri
Create great rewards:
Think about things that people won’t be able to get anywhere else. These incentivise people to donate.
Andy Walker, Press and Communications Officer, F.C. United of Manchester, @WalkersRambles @FCUnitedMcr
Make a brilliant video pitch:
Keep it short, to the point, clear and concise. Don’t be scared of it. Your camera phone will suffice, in one take. Script your main points, make sure you hit your marks and your idea will sell itself.
Murry Toms, Organiser, Cheltenham Town Billboard, @murrytoms
Send great emails:
Target your emails to your different audiences, it’s really important that your message is suitable for the person reading the email - and it’s also important to name people to build that connection - nobody likes a “Dear Sir” email.
Sarah Bentley, Project Manager, Made in Hackney Community Kitchen, @Made_In_Hackney
Be funny and genuine on social media... keep writing different content, asking people to share etc.
Liz Watson, Partner, Elephant Box, @ElephantboxUk
A launch event is a great way to showcase your idea and generate excitement and potentially media around your crowdfunding campaign - get invites out early, make sure your project has already got off to a great start - so the audience really gets excited and make sure you ask people to pledge - some projects have got fully funded at their launch event!
Sean Dagen Wood, Editor in Chief, Positive News @PositiveNewsUK