1. Does My Crowdfunding Story Show Problem/Solution?
The story youre telling needs to focus on the problem youre solving rather than simply provide a list of benefits. You want a story that grabs attention, describes your campaign, can be easily shared, and will generate interest. Even the most complex concept can be communicated effectively if the story is short and sweet. Too much background, too much detail, and you risk losing your audience.
2. Have I Set the Right Funding Target?
More money is not always better, at least not in crowdfunding. Some platforms require companies to meet or exceed their fundraising goals or forfeit what theyve raised. If you aim too high, and miss, you may have blown your chance. Just because your target is low, it doesnt mean that you cant close on excess commitments. Think instead about whether your campaign, and your goals, can be split into smaller, focused chunks. Start small, achieve, bask in the glory of success, and then tackle the next specific goal.
3. Am I Ready to Leave My Comfort Zone?
If you think planning for your crowdfunding campaign takes a lot of work, just wait until it launches! 24/7, you will be ON. You will need to be in full solicitation and promotion mode: meeting people, sending out email and online updates, interacting via social media. Youll be an open book, and your family will forget what you look like for the duration of the campaign. Are you ready?
4. Am I Ready to Listen, Really Listen, to Backers and Potential Backers?
Whether this is your first crowdfunding campaign, or your fourth, paying attention to feedback can make the difference between failure and fantastic. Listen to all your backers: friends and family, whether or not theyre actually ponying up with contributions, and the strangers you only know thanks to your crowdfunding campaign. Youll get feedback on whether your incentives or rewards are appropriate, whether your pitch is clear enough or your product well-enough developed. Sometimes this feedback is hard to hear: you need to be ready for it and open to it all of it.
5. How Big is My Social Network, Really?
You really are responsible for putting the crowd in crowdfunding. Your own personal and professional networks are going to be key to kickstarting (no pun intended) your social marketing campaign. No network? Not much chance of success. Focus on building out your network before you launch the crowdfunding campaign.
As of now, most equity crowdfunding Investors are still required to be accredited. For secure, fast and reliable verification of accredited investor status, contact the experts at VerifyInvestor.com .
