Bring a Crowdfunding Specialty to your Small Business ...€¦ · Crowdfunding Best Practices...
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Bring a Crowdfunding Specialty to your Small Business Development Center Diane Wolverton, The Local Crowd Co-Founder & CEO Kim Vincent, The Local Crowd Co-Founder & COO Jill Kline, State Director, Wyoming SBDC ASBDC September 19-22, Orlando Florida
Transcript of Bring a Crowdfunding Specialty to your Small Business ...€¦ · Crowdfunding Best Practices...
Bring a Crowdfunding Specialty
to your Small Business Development Center
Diane Wolverton, The Local Crowd Co-Founder & CEO
Kim Vincent, The Local Crowd Co-Founder & COO
Jill Kline, State Director, Wyoming SBDC
ASBDC September 19-22, Orlando Florida
The New Normal• Crowdfunders raised more than 16 billion dollars in
2014—up from 6 billion the year before.
• 34 Billion Projected for 2015
• Rewards Based• Donation Based• Equity Based• Lending Based
What is Crowdfunding?
Who uses crowdfunding most?
About 60% of the users of Kickstarter & Indiegogoare under the age of 35.
Crowdfunding Best Practices
Creating User Success
–Massolutions Crowdfunding Industry Report
Day to Day marketing plans raise 180% more.
Regular updates raise 126% more.
Videos raise 105% more.
Teams raise 38% more.
Best campaigns last 20-40 days.
Best descriptions are 300-500 words.
Once you reach goal, you are 78% more likely to exceed it.
Personal email is Best way to connect.
People are 22% more likely to give once
the project has reached 40% of its goal.
Expanding the Pool of Contributors
1st Tier
1st Tier
2nd Tier
2nd Tier
3rd Tier
80% of funds raised come from activities of the Campaign Creator and his or her team. In the TLC model, the Community becomes the team, increasing the success factor exponentially.
Case Study: Moonflower Yoga
Serendipity Books & Coffee
Ana’s on Main Street
Positive Progressions
Developing a Crowdfunding Specialty
For your SBDC
Professional Development
Integration with the Business
Planning Process
A Team Approach
Your Center’s
Strategic Plan
Questions?
