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Rescooped by Brad Derstine from Crowdfunding Startups
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8 Steps to Launching a Successful Crowdfunding Campaign

8 Steps to Launching a Successful Crowdfunding Campaign | Coffee Shop Fun | Scoop.it
Meticulous planning and plenty of hard work are the keys to crowdfunding the capital you need to launch.

Crowdfunding is an effective way for entrepreneurs to launch their companies without much capital investment. Instead of buying loads of inventory up front, crowdfunding enables entrepreneurs to judge the demand for their product while helping them fund their first production run.

We didn’t have the money to fund our first production run when launching my startup, Yes Man, so we turned to Kickstarter. People supported us by pre-ordering one of our watches. The money from preorders funded our first production run.

Yes Man is now onto its second crowdfunding campaign to fund the first production run of our sunglasses. After launching two successful campaigns and advising plenty more, I have compiled a checklist of 8 steps to prepare for your campaign.

1. Develop your story. Crowdfunding is all about stories. Unlike traditional websites that focus on products, people on crowdfunding sites like Kickstarter or Indiegogo want to know how you turned your idea into a reality. Explaining why you need their support is just as important as the product you are pitching.

2. Write your video script. Be sure to have the storyboard of your crowdfunding video dialed in before you plan to shoot. In my first campaign, we worked on our video for over 30 hours because we didn’t know how we wanted our video to look. Plan your video ahead so you don’t waste time.

3. Shoot your video. Almost anything works for a crowdfunding video but if you’re looking for a more professional video that doesn’t break the bank, reach out to the university in your area. Chances are you can find an experienced student willing to work for cheap in exchange for a chance to build their portfolio.

4. Product photos. The presentation of your product while crowdfunding is very important. Taking the time to find professional photographers is completely worthwhile. For Yes Man, we were fortunate to connect with a friend who ran Rapid Eye Studios in San Diego. Utilize your network to find people who are willing to work for a discounted rate.

5. Your website. Having your company’s website completed is not crucial but is recommended. A website further validates you are a legitimate company, which crowdfunding supporters like to see. All you need is a landing page that gives some more information about your company.

6. Crunch your numbers. It is essential to know how many units you need to sell to reach your crowdfunding goal. This will put your goal in perspective. When we launched our first campaign, I knew to surpass our $15,000 goal we needed to sell 152 watches at $99 each.

7. PR outreach. An often overlooked part of crowdfunding is spreading the word. Many project creators assume their projects will somehow automatically get noticed.

Reach out to media outlets that cover your type of campaign. An effective way to find the right media outlets is through a  Google Image search. Simply take a photo from a similar campaign and upload it to Google. Google will then display all blogs, newspapers and other media that have covered that campaign.

8. Submission. Sites like Kickstarter use their own guidelines to accept or deny a campaign. They don’t accept all crowdfunding projects. That may be obvious to many but wasn’t to me when I launched our first crowdfunding campaign. The approval process can take a few days and may require you to make some changes to your campaign. Be sure to submit your campaign at least two weeks prior to your launch.

Crowdfunding is the perfect way to bring your product to market. It enables you to judge demand and help fund your production run. Be sure you know before you launch how you will produce your product and how much each unit will cost.

Though dozens of campaigns surpass their crowdfunding goal, many more fail unnoticed. Using these steps, I hope you are closer to your next successful crowdfunding campaign!

 


Get your Free Business Plan Template here: http://bit.ly/1aKy7km




Via Brian Yanish - MarketingHits.com, Marc Kneepkens
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Marc Kneepkens's curator insight, August 23, 2014 5:55 PM

Talking from experience...

BSN's curator insight, August 25, 2014 5:04 AM
8 Steps to Launching a Successful Crowdfunding Campaign. #crowdfunding #business #tips
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The War for Talent: Top Firms Failing to Meet Demands of Workers

The War for Talent: Top Firms Failing to Meet Demands of Workers | Coffee Shop Fun | Scoop.it

The global war for talent is heating up but some of the UK's top companies are failing to meet the new demands of their workers, according to management consultancy the Hay Group.

The firm, which questioned 300 heads of engagement at FTSE 250 and Fortune 500 companies, found that more than three-quarters of respondents (84%) believed that employers must engage their workforces differently if they are to succeed in the future.


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The Learning Factor's curator insight, August 24, 2014 4:36 AM

The Hay Group says it has identified six so-called 'megatrends' in employee engagement.

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Where Are the Women? The Changing Face of Technology

Where Are the Women? The Changing Face of Technology | Coffee Shop Fun | Scoop.it
The book, Innovating Women: The Changing Face of Technology, addresses the barriers women face in the tech field by sharing their personal stories.
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What is Competitive advantage?

What is Competitive advantage? | Coffee Shop Fun | Scoop.it

There is no one answer about what is competitive advantage or one way to measure it, and for the right reason. Nearly everything can be considered as competitive edge, e.g. higher profit margin, greater return on assets, valuable resource such as brand reputation or unique competence in producing jet engines. Every company must have at least one advantage to successfully compete in the market. If a company can’t identify one or just doesn’t possess it, competitors soon outperform it and force to leave the market.There are many ways to achieve the advantage but only two basic types of it: cost or differentiation advantage.

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Blazenko Drmic's curator insight, August 25, 2014 1:02 PM

There are many ways to achieve the advantage but only two basic types of it: cost or differentiation advantage.

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Peter Theo Curtis, Abducted by Nusra Front in 2012, Is Released

Peter Theo Curtis, Abducted by Nusra Front in 2012, Is Released | Coffee Shop Fun | Scoop.it
Peter Theo Curtis, who was abducted near the Syria-Turkey border in 2012 and held by the Nusra Front, was handed over to a U.N. representative, according to a family representative and the Al Jazeera network.
Brad Derstine's insight:

What is insight? I have no clue... haha

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Can Overthinking Reduce a Leader's Influence?

Can Overthinking Reduce a Leader's Influence? | Coffee Shop Fun | Scoop.it

We've all seen this: The CEO who acts instinctively, sometimes with terrible results, keeps his or her job and even develops a loyal following. Meanwhile, the thinker in the executive suite who consistently offers the right, deliberated answer rarely gets a promotion.

Researchers at Stanford Graduate School of Business set out to answer the question of whether we sometimes penalize thoughtfulness — not in ourselves, but when we see it in others.


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Miklos Szilagyi's curator insight, August 25, 2014 3:35 AM

Well, rest the common sense of the right balance... all attempts to break into actionable pieces what is in the very actual situation is impossible are futile... sometimes intuition is better than too much thinking and sometimes intuition puts things astray...it's a bit mote complicated than "less thinking & moreintuition"" (see books like "Think twice",  "Think again" or Kahneman's...)...

 

Of course and it' an interesting aspect that the  staff is how influenced by how the decision is made... decisions might be powerful  and  with full of confidence made by either by more thinking by more by intuition, the essence is the  congruity, the authenticity of those making it and the transparence of the process...

rodrick rajive lal's curator insight, August 25, 2014 4:54 AM

I guess it is time we realised that overthinking and overanalyzing do not give good returns after all! The ideal CEO is a person who can handle various tasks without getting bogged down by a single task due to over thinking. However, there are many of us who become obsessed with somehow getting to the rooot of a particular problem without realising that we are neglecting other tasks!

Dan Forbes's curator insight, August 25, 2014 7:46 AM

Let me think about this....

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An Economist Shows How Imitation Can Sometimes Beat Innovation | Stanford Graduate School of Business

An Economist Shows How Imitation Can Sometimes Beat Innovation | Stanford Graduate School of Business | Coffee Shop Fun | Scoop.it

Investing in imitation can have big payoffs for economic growth, and sometimes even bigger payoffs than investing in innovation.

A new paper coauthored by Chris Tonetti, a macroeconomist at Stanford Graduate School of Business, shows that some countries are being entirely rational by tilting more toward adopting technology than developing it themselves. In a separate paper, Tonetti argues that the same is true at the company level: There are only a few Googles or Oracles in the world, but there are thousands upon thousands of companies that can generate big aggregate gains by using the innovations from the pioneers.

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Giant, unexplained half-mile long fissure opens up in Mexico | Science! | Geek.com

Giant, unexplained half-mile long fissure opens up in Mexico | Science! | Geek.com | Coffee Shop Fun | Scoop.it
First giant holes start popping up in Siberia, and now this. A giant crack has opened up in the Earth near the city of Hermosillo Desde El Cielo in Mexico. The fissure is [...]

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THE OFFICIAL ANDREASCY's curator insight, August 23, 2014 3:50 PM

Not exactly the Grand Canyon, but this unexplained crack in the Earth is still insane.

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World Health Organization: Ebola Is A Global Emergency - Business ...

World Health Organization: Ebola Is A Global Emergency - Business ... | Coffee Shop Fun | Scoop.it
After two days of meetings, the emergency committee of the World Health Organization unanimously agreed to declare the ebola virus a Public Health Emergency of International Concern on Friday. The WHO, which is an ...
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Funny cat vines - Ultimate cats vines compilation 2014

Funny cat videos.. testing the service.

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