Join Whitney Johnson for an in-depth discussion in this video Crowdfunding, part of Entrepreneurship Foundations.
- An emerging form…of financing is crowdfunding.…This is the collection of funds through small contributions…from many different people in order…to finance a particular project.…For entrepreneurs looking to eventually attract…investors, a crowdfunding campaign can…demonstrate market demand and attract publicity.…As for how to successfully orchestrate…a crowdfunding campaign, I spoke to my friend…Kelly Keenan Trumpbour, the founder of See Jane Invest,…and she suggests the following,…first use the campaign to fund a very specific project…or product run within the business.…
It's not an open-ended call for money.…Second, limit how much money you try to raise.…The majority of successful campaigns…are looking to raise $25,000 or less.…Third, there's a reason it's called a campaign.…Like a political campaign, successful crowdfunding…is dependent on well thought out marketing…and a grassroots strategy that will take…three to six months to come to fruition.…Fourth, tend to the campaign daily.…Once launched you need to have a dedicated person…
- Cite the steps that can help you find an unmet need.
- Differentiate between a business and a hobby.
- Recognize how to decide between an online business and a brick and mortar business.
- Describe how to protect your intellectual property.
- Explain the best practices for hiring the right people.
- Recall the importance of tapping into networks of expertise.
- Cite the best practices for building a business website.
- Summarize the best metrics to use for your online business.
Skill Level Intermediate
Management Foundations (2013)with Britt Andreatta2h 9m Intermediate
1. Finding Your Big Idea
2. Starting Your Business
3. Building a Team
4. Marketing Your Business
5. Scaling Your Business
6. Funding Growth
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