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Tips for A Successful Crowdfunding Campaign

Tips for A Successful Crowdfunding Campaign

Crowdfunding websites have opened up a whole new world of opportunity for entrepreneurs hoping for capital to start a business. Although you have probably read tons of viral stories about incredibly successful campaigns, there are also those that make common mistakes and don’t perform as desired. So, before you kickstart (pun intended) a crowdfunding campaign, read these tips:

1. Pick the right platform.

As crowdfunding rises in popularity, more and more big players are entering the field. To ensure success, it’s important to pick the right website for your campaign. First, decide whether you are offering equity or a small reward in exchange for an investment. Websites like Crowdfunder only allow campaigns that sell equity, debt or revenue-based securities, while others like Kickstarter offer investors small rewards at your expense. Once you’ve made this decision, see if your industry has a niche crowdfunding website. Trying to raise funds for an innovative app? Use Appbakr. Launching a music career? PledgeMusic is the place for you. You should also look at the different fees associated with each crowdfunding site. Most websites take a percentage off of every raised fund and then an additional percentage off for credit card processing fees. Some sites, like RocketHub, take a higher percentage of your earnings if you don’t meet your stated campaign goal. Making the right decision when picking the platform guarantees that your campaign will reach its intended audience and at the right price.

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2. Personalized Pitch.

“People fund people, not just ideas,” says Indiegogo CEO Danae Ringelmann. Follow her advice and make your pitch video personal and convincing. Talk about what motivated you in your journey and how you want to impact the world with your product or idea. What problem are you solving? How will your product or idea personally help the potential investor watching your video? Investors want to feel your passion for the project, so be open, honest and hopefully, convincing.

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3. Do your homework.

Websites like Kickstarter and Indiegogo keep campaigns posted on the website even after they have finished. What does this mean for you? You have a treasure trove of past campaigns and their results at the click of a mouse. If possible, find campaigns within your industry and see how they performed. Analyze the pitch videos, rewards offered and any other information you can find to see how you can mimic success and avoid failure. After you’ve researched past campaigns, learn about your audience. Most investors are male between the ages of 24-35 earning over $100,000 a year. This is the group you have to win over to make a sale, so keep this audience in mind when creating a pitch.

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What’s in it for me?

Imagine sitting at home on the computer watching pitches for startup businesses. What would it take you to get up, grab your wallet, and pay a stranger online to pursue their dream? Ask yourself this question as you plan your campaign. The reward or equity the investor receives must be enticing enough to convince them to spend their hard earned money on you.

A little trick that Kickstarter suggests is using the $1 donation option. Although it may not seem like much, each dollar donated adds up quickly. The $1 donation gives potential investors an option to contribute without sacrificing much, while still feeling like they’ve made a difference. Also, unlike the larger investments, the $1 commitment does not require a substantial reward in exchange for the donation. Entrepreneurs typically offer a digital thank you note or something similar in size which won’t add to your campaign expenses.

Have you ever invested in or launched a successful crowdfunding campaign? Tell us about it in the comments below!

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Joel Goldstein

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Last Updated on August 14, 2020

How to Find a Career That Is Right For You

How to Find a Career That Is Right For You

There are thousands of careers to choose from. No wonder finding the one that’s right for you can feel like a guessing game.

Choosing or changing careers can be scary. Even if it’s right for you now, you might wonder, who says it’ll still be a fit in the future?

The truth is, you have to start somewhere. Whether you’re looking for a first job out of college or need a new career, follow this process to find the right one for you:

1. List Out Careers You Could Pursue

It sounds simple, but it’s good advice: Start with what you like. Even before you begin looking for the right career, you probably have an idea of what you’re interested in.

Next, make a second list, this one including your strengths. If you aren’t sure whether you’re actually good at something, ask someone close to you who’ll give you a truthful answer.

Once your lists are made, cross-reference them: What do you like to do and do well?

In a third list, rank these. If you’re skilled at something you don’t particularly like, for instance, that should fall lower on the list.

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2. Take a Career Assessment

Standardized tests shouldn’t make decisions for you, but they can get you pointed in the right direction. Career assessment tests gauge your abilities and interests and make recommendations for career paths based on the answers you give.[1]

Before reviewing your results, take a break. Getting some perspective can help you see whether your answers were guided by your mood. Look at the percentage match and ask yourself whether you could see yourself doing the work of the career or role every day.

For example, if your responses emphasized helping others, the test might point you to a medical career. However, if you don’t want to work in a hospital or clinical environment, you might cut that option or place it lower on your list.

3. Sweat the Details

Every career has gratifying and frustrating things about it. Before you choose one, you need to be clear on those. Reading reviews and job descriptions you find related to each career, make a list of its pros and cons.

There are a lot of factors to think through. Key questions to ask yourself include:

  • What are the hours required by this type of work? Can they be flexible?
  • What skills are required? Do I possess them, or would I be willing to learn them?
  • What are the education requirements? Can I afford to go back to school?
  • How much do jobs in the field pay? Is the payscale top-heavy or evenly distributed?
  • What does job growth in this sector look like? Are they traditional or contracted roles?
  • Are opportunities in the field available in my area? If not, would I be willing to move?
  • Would I be working solo or on a team?

In answering these questions, you’ll find yourself crossing a lot of careers off your list. Remember, that’s a good thing: You’d rather find out a career isn’t right for you now than after you’ve put yourself on that path.

4. Find the Sweet Spot

The crux of the career question is this: What’s the “sweet spot” between your interests and strengths and the market’s needs? The greater the overlap, the better.

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Be warned that you’ll have to compromise. Perhaps you enjoy working with animals, but there’s no demand for that line of work in your area. You might be good at math, but you wouldn’t want to crunch numbers in a cubicle for a living. Finding balance is crucial.

5. Start Networking

What’s the best way to get the real story about the careers you’re interested in? Talking to professionals in the field.

Where should you find these people?

  • Reach out to local businesses.
  • Scour your social media networks, particularly LinkedIn.
  • Ask a past employer for recommendations.
  • Sign up for industry events and conferences.

Schedule a short interview with each of your new connections. Ask them to weigh in on the comments you see online. Every role and company is a bit different, so don’t be surprised if their responses don’t align.

Regardless of who you find or what they say, write it down. If one interviewee’s responses differ wildly from online responses, chat with someone else in the field. Do your best to find out what’s the rule and what’s the exception.

6. Shadow and Volunteer

As valuable as networking can be, you need a firsthand glimpse of the work. If you hit it off with one of your interviewees, ask to do some job shadowing. Sitting beside someone as they work can help you understand not just the pay and the responsibilities but also the culture and work environment associated with each career.

Job shadowing is a good way to get your feet wet before taking a career plunge. If you felt uninterested or unhappy during your shadowing experience, it’s a good sign that you should ponder a different career path. If your shadowing experience made you want to come back for more, you may have found your calling.

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Volunteer work is an alternative to job shadowing that can get you the experience you need as you analyze your career options. As a volunteer, you can be more flexible with your time and get opportunities you wouldn’t find elsewhere.

7. Sign Up for Classes

Many careers have an academic component that you can’t ignore. If you decide you want to be a lawyer, for instance, you might want to know you can survive law school first.

Sign up for an introductory class or two related to each career you’re interested in. The earlier you do this, the better. If you’re still in college, the class will count as an elective and may be covered by your scholarship, but if not, look for a community college option to keep costs low.

Taking a single class is not the same as earning a degree in the field. With that said, it’s a good way to test the waters before you invest thousands of dollars.

If the content interests you and you look forward to class each week, that’s a good sign. If you start dreading the class or choose to drop it, focus your attention elsewhere.

8. Enter the Gig Economy

Contracted work is a great “try it before you buy it” career tactic. Skipping to an entry-level role requires more commitment than you might want to give while you’re still investigating your options. The gig economy offers the best of both worlds: paid work as well as flexibility.[2]

Gig workers take work from companies or individuals that do not directly employ them. Plumbers and artists are good examples. Rather than receiving a regular paycheck, they sell their services by the task or deliverable.

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In the gig economy, you aren’t bound by long-term agreements. If you don’t like the experience, you can simply move on.

You never know if you’ll enjoy something until you try it. And because contractors work with professionals in the field, gig workers naturally get networking and shadowing opportunities.

9. Market Yourself

As you zero in on your dream career, there’s one final test you can use to find out whether you’ll be successful: marketing yourself as a candidate for hire. Whether you get bites is a key indicator of how you’ll fare in the field.

Beware that, as someone without much experience in the field, you’re going to get a lot of rejections. Don’t be discouraged. If you get two interviews out of 50 applications, think of it as two opportunities you didn’t have before to find your ideal career.

Just as important as outreach is a good inbound strategy. Set up a website, and post your portfolio on it. Describe your dream job on your social media.

Recruiters are constantly on the lookout for candidates that fit their company. The more exposure you get, the more people will be interested in what you have to offer. Put yourself out there, and you just might find the perfect fit.

Don’t Give Up!

Nobody ever said it was easy to find a career that’s right for you. Finding one is tough enough, and even then, you may find yourself looking for a new field ten years into your career.

Whatever you want from your professional life, you have to be willing to put in the time. Don’t hesitate, and don’t give up. Start your search today.

More Tips on How to Find a Career

Featured photo credit: Saulo Mohana via unsplash.com

Reference

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