by admin | Nov 19, 2015 | Advisory, Amaranthine, Enterprise, Uncategorised
We recently attended a crowdfunding seminar hosted by Startup Direct and Paul Grant of the Funding Game. Simon, our Business Development Manager, was sent to make copious notes. So here’s his take on the Five Points of Calvinism. Err, sorry. Crowdfunding. Point 1: TALK Spend your time in this pre-prep phase generating contacts and talking to possible investors and buyers. This will serve two purposes: Your potential investors will feel more involved and in sync with your idea and vision. Then, when the time comes, they will be more likely to invest because this is their project, too. You’ll get a second opinion on your product or service. You may be working on false pre-suppositions about your target market and what they want. This will help you to find out more about the problem you are addressing. Point 2: UNITE This is where your real preparation takes place. You must drum up the promises you got from Point 1 and unite this into a sizeable committed line even before you launch your crowdfunding campaign. Your should have at least 40% of the funding for your round pledged before you begin your campaign. This will give your pitch more credibility when you launch because so many people have already chosen to invest in your idea. Point 3: LURE Reel ’em in! Use your campaign design to lure the remaining 60%, and never skimp on the work you put in before the campaign. A few things to keep in mind: Your message should be clear and simple, should have a summary of where you are, where you are going and what you need...
