From the course: Small Business Secrets

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Using best crowdfunding practices

Using best crowdfunding practices

From the course: Small Business Secrets

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Using best crowdfunding practices

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- Now if you've decided that you think you want to try crowdfunding for your business or project I want to give you some starting points to begin that process. Obviously I'm not going to cover everything there is to know about crowdfunding, but I call these the five Ps. The first P is product, this means that you have a product or a project that people are excited about that it makes them want to contribute to you. Also, that you have the expertise and the knowledge and the background to pull it off, this goes back to the difference between an idea and an opportunity. Perhaps some random person has an idea for a video game, but an opportunity comes when a software developer with experience presents their idea for a great game. Number two is proof, this means that you actually can demonstrate it. Sometimes people go into crowdfunding just cold, they have nothing to show for it, but if you have some sales numbers that you can demonstrate you have been successful, or perhaps if you have…

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