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6 Crowdfunding Tips To Get Your Project 100 Percent Funded

6 Crowdfunding Tips To Get Your Project 100 Percent Funded

What do you do if you have a great idea, but you don’t have the ability to get face time with important investors? One of your options is to start a crowdfunding campaign. In fact, many new ventures have gotten their start thanks to crowdfunding. Unfortunately for every business or project that’s successfully used crowdfunding to get up and running, many more have failed. That doesn’t have to be the case for your project. Check out these six savvy crowdfunding tips to ensure that your project gets massive community and financial support.

1. Validate Your Product Idea.

First things first, before you start hitting others up for money you’ll need to validate your idea. You can start this process by simply sharing your idea with others and getting feedback. Just be careful about who you approach. You don’t want the advice of the perpetually negative, but you also don’t want to seek out the opinions of those who are just going to tell you that you are brilliant.

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Find people that you know will be honest and who will play the devil’s advocate. You may want to consider a patent search to find out if someone else has already invented your idea. You could reach out to a professional organization such as InventHelp. This is a very tough part of this process because it is quite possible that you are going to find out that an idea that you’ve fallen in love with already exists. Of course if you have to deal with failure, it is much easier at this phase than later on.

2. Scope Your Competition And Similar Campaigns.

If your product idea passes muster, your next step is to scope your competition and to see how similar campaigns are performing on crowdfunding platforms. If you go to market, who will you be up against? This requires some leg work. Go to Amazon and see if there are similar products already on the market. Can you disrupt them by offering up something that is better or less expensive? Are there companies in your niche who could potentially come to market and disrupt you? These aren’t necessarily deal breakers, but you do need to be prepared to prove that your product can stand up to stiff competition.

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Next, take a look at other projects on the crowdfunding platforms you are exploring. If they are full of other products and services that are similar to yours, that could spell trouble. Even if you are the only one offering up your specific product, it is going to be tough to get attention or investment dollars if there are lots of similar products in your niche. For example, if you have a sports-related startup that you are trying to launch and there are dozens of other sports-related campaigns on a crowdfunding platform, folks might just scroll right past yours.

3. Consider Alternative And Less Crowded Platforms.

If you are worried about getting lost in a sea of other projects, you might look into alternative platforms or platforms that are niche specific. For example, if you have an idea for a new invention or if you have created a working prototype of an invention, you might look into Fund an Idea which is a crowdfunding platform specifically for inventors. There are also specific campaigns for open-source software projects, funding your college education, environmentally friendly startups, social justice causes, entertainment industry projects, and funding that focuses on members on the LGBT community.

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Another option that you have is to start a self-hosted campaign. In this case, you would create a website for your project and find ways to draw in traffic and convert visitors into investors. It’s a risky bet to take, but it would mean that you will not be going up against hundreds of other projects vying for attention.

4. Invest in Creating Attractive Visuals And a Unique Storyline.

Think of the crowdfunding ideas that you have seen go viral. Most of them had two things in common. They told a compelling story and they used attractive visuals to get that story across. If you have money to spend, this is where most of it should go. First and foremost, what is your story? How did you come up with your idea? Who has you helped so far? What are your dreams and goals? Finally, who are you trying to reach out to with your crowdfunding campaign, and what will appeal to them? You might consider pulling at their heartstrings or making them laugh.

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Once you know the story you need to tell, you have to decide how to get that story across. Video is always a good option as are presentations or infographics. A combination of visual elements might be the best choice. Whatever you choose, don’t skimp. Production values are extremely important. If you aren’t up to the task, you might need to bring in a professional. If you can’t afford a professional, choose a visual medium that you are capable of working with. Remember that a nicely done powerpoint presentation is going to work better for you than a mediocre video.

5. Work on Your Social Media Presence or Find Ambassadors.

Creating a presence on a crowdfunding site alone isn’t going to get your project funded. You have to have a full blown social media presence and a website for your project. This is where you will direct people from your crowdfunding page who want to engage with you and learn more about what you are planning to do with investments. You’ll want to keep people excited about your project by posting updates, sharing images, and even promoting your followers’ own projects and content.

Once you have a following, you’ll want to identify the people who you believe will act as your ambassadors. Reach out to them. Offer them incentives for not only investing their money into your campaign, but for helping to spread your message to others. You can do this by offering up a cut of future revenues, giving away freebies, or simply by forming a mutually beneficial relationship with them in some way. If you’ve got samples of your product available, these can make attractive gifts for potential spokespersons.

6. Be Strategic With Your Press Outreach

You should be promoting your campaign on your social media pages and getting your friends and family to do the same. However, that isn’t going to get you the traffic that you really need to get launched. You’re going to have to reach out to the media. This begins with creating a press kit. Your press kit should be easily accessible on your website. It should contain all of the information that members of the press might need to know if they choose to do a story on your campaign. Of course, your initial outreach won’t necessarily be to media outlets per say. Your press kit will be useful to anybody who wants to talk about your project. To get started, you might consider reaching out to bloggers in your niche and then building up to speaking to people in the media.

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Last Updated on June 13, 2019

15 Best Entrepreneurs Books to Start Reading Now to Be Successful

15 Best Entrepreneurs Books to Start Reading Now to Be Successful

Knowledge is power, and you’re going to need a lot of it if you’re going to be able to steer your business to success.

Without further ado, let’s take a look at the 15 best entrepreneurs books to get inspirations about success and grow your business.

1. Think and Grow Rich by Napoleon Hill

    This book has been dubbed the Granddaddy of All Motivational Literature, and it was actually the first book that gave a prescription of what it takes to be a winner.

    Napoleon Hill draws from the stories of millionaires like Henry Ford, Andrew Carnegie, and Thomas Edison to illustrate the principles he put forth.

    Get the book here!

    2. The Lean Startup by Eric Reis

      A lot of startups end up failing, but many of these failures are actually avoidable. The Lean Startup provides a different approach that is now being adopted all over the world and changing the way that companies are developed and products are being launched.

      In The Lean Startup, Eric Reis describes what is required for a company to penetrate the fog of uncertainty in order to discover a path to a sustainable and successful business.

      Get the book here!

      3. The E-Myth Revisited by Michael E. Gerber

        In a revised edition of the 150,000-copy bestseller, The E-Myth, Michael Gerber refutes some of the myths that surround starting your own business and shows just how commonplace assumptions can end up getting in the way of being able to run a successful business.

        Gerber succeeds in walking the reader through the steps that occur in the life of a business, from infancy, through the pains of growing as an adolescent, to the perspective of the mature entrepreneur.

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        Get the book here!

        4. Rework by Jason Fried

          Most of the business books that you get today will give you the same advice: draft a business plan, study the competition, look for investors, and all that.

          However, Rework shows you a more effective, easier and faster means of succeeding when running a business. By reading it, you’ll be able to know why some plans are harmful, why you don’t really need to get investors, and why you’re better of shutting out your competition.

          Get the book here!

          5. How to Win Friends and Influence People by Dale Carnegie

            This is one of the most successful motivational books in history, selling well over 15 million copies since it was released in 1936. The book is timeless, and it appeals to businesses, self-help startups, and general readers.

            Carnegie believes that a lot of successes come from an ability to communicate rather than having brilliant insights. In his book, he teaches how to value others and make them feel appreciated and loved.

            Get the book here!

            6. Outliers: The Story of Success by Malcolm Gladwell

              Through this amazing book, Malcolm Gladwell is able to take the reader on an intellectual journey through the world of ‘outliers’. He asks the question of what truly differentiates high-achievers.

              His answer to this question is that we tend to pay too much attention to what successful people are like, and less attention to where they are actually from.

              Get the book here!

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              7. Rich Dad, Poor Dad by Robert T. Kiyosaki

                This is the best personal finance book ever written. It tells the story of Kiyosaki and his two fathers; his real father, and that of his best friend (his rich dad), as well as how the two men helped him shape his opinions on money and investing.

                It refutes the myth that you need to earn high to become rich, and it distinguishes between working for money and having money work for you.

                Get the book here!

                8. The Ascent of Money: The Financial History of the World by Niall Ferguson

                  Niall Ferguson, in this book, follows the money to tell the story behind the evolution of the word’s financial system, from the beginning way back in ancient Mesopotamia to the latest occurrences in what he had dubbed Planet Finance.

                  Fergusson also reveals financial history as the backstory behind our very own history, with an argument that the evolution of debt and credit is as significant as the history of technological innovation and the rise of civilization.

                  Get the book here!

                  9. Liar’s Poker by Michael Lewis

                    Michael Lewis landed a job at Salomon Brothers after getting out of the London School of Economics and Princeton within three years, he had risen to the rank of bond salesman, making millions for the firm and cashing out steadily.

                    Liar’s Poker is the amalgamation of these years — a look behind the scenes at one of the most turbulent times in American business. His book is Lewis’s account of an era where greed and gluttony were the order of the day.

                    Get the book here!

                    10. Drive: The Surprising Truth about What Motivates Us by Michael H. Pink

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                      A lot of people see money as the best motivator. Michael pink says it’s a mistake.

                      In this provocative book, he asserts that the secret to high performance anywhere is the need to direct our lives, to learn and create, and to do better by our world and ourselves.

                      Get the book here!

                      11. Getting Things Done: The Art of Stress-Free Productivity by David Allen

                        Outdated methods don’t work in today’s world. In this book, Allen shares some awesome methods for stress-free performance that he has shared with thousands of people all over the world.

                        His premise? That productivity is proportional to your ability to relax.

                        Get the book here!

                        12. The 7 Habits of Highly Effective People by Stephen R. Covey

                          In this book, Stephen Covey presents a holistic approach for overcoming both professional and personal issues. With insights and anecdotes, Covey presents a way to live with integrity fairness, service and dignity.

                          Get the book here!

                          13. The 4-Hour Workweek: Escape the 9-5, Live Anywhere, and Join the New Rich by Tim Ferriss

                            In this book, Ferriss dishes on the tips he has learned from studying the New Rich, a subculture of people who did away with the deferred life plan and mastered time and mobility to developed luxury lifestyles for themselves.

                            If you’re looking to make your way in this revolutionary new world, this here is your compass.

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                            Get the book here!

                            14. Delivering Happiness: A Path to Profits, Passion, and Purpose by Tony Hsieh

                              The CEO of Zappos shows how a unique kind of corporate identity can help deliver a huge difference in the way results are being achieved — by creating a company that values and delivers happiness.

                              Get the book here!

                              15. Losing My Virginity: How I Survived, Had Fun, and Made a Fortune Doing Business My Way by Richard Branson

                                From Virgin Atlantic Airways, Virgin Records and V2 to Virgin Cola, Virgin Megastores and a wide array of other companies, Richard Branson is the rockstar billionaire that a lot of us want to be.

                                Branson, however, did business by following a simple philosophy:

                                “Oh, screw it, let’s do it”

                                Losing My Virginity is an unusual, borderline outrageous autobiography of one of the greatest business geniuses in the world. Branson and his friends named their business “Virgin” because that was what they were — virgins at the game.

                                Since then, he’s written his success rules, creating a global business that has no headquarters, no management structure no corporate identity as it were.

                                Get the book here!

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                                Featured photo credit: rawpixel via unsplash.com

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