CROWDFUNDING 101€¦ · CROWDFUNDING 101. PANEL Ethan Adams-Future Founders-Indiegogo campaign in...

www.futurefounders.com

CROWDFUNDING 101

PANEL


Ethan Adams-Future Founders-Indiegogo campaign in June 2016: Nuni Toaster

Callie Spiros-Founder, Kali Zoe Designs-Indiegogo campaign in May 2016: The Mudra

Stephen Tinney-The Bindle Stick-Kickstarter campaign in February 2015: The Bindle Stick

EVERY YOUTH CAN BECOME AN ENTREPRENEUR.


We have served over 30,000 youth from elementary school

to college and beyond.


PROGRAMS


E-PASS

futurefounders.com/startup

FELLOWSHIP


U.PITCH


Apply by October 20 atfuturefounders.com/startup/upitch

TAKEAWAYS


1. What is crowdfunding?2. What does it take to run a successful

crowdfunding campaign?3. How do I get started?

WHAT IS CROWDFUNDING?


IN THE OLDEN DAYS...


+ =

IN THE OLDEN DAYS...


Months (or years)

Revenue

● Run out of cash● Bigger company

catches on● Need vanishes

Things take so long...

OR...


+ +

OR...


Months (or years)

Revenue

But it’s going to cost you.● Equity● Debt● Control

CROWDFUNDING


+ +

CROWDFUNDING


Months (or years)

Revenue

Preorders, not investment. Hold onto your:● Equity● Debt● Control

HISTORY OF CROWDFUNDING


1997


British rock band Marillion funds their U.S. tour by raising $60k online

2008


2009


NOW


$34 billion (2015)

NOW


$10,266,844

NOW


$124,000,000

TIPS TO SUCCEED


1. BUILD A TEAM


● Complementary skills - you don’t know everything● Sheer shortage of time - you don’t have time to do

everything (not well)● Product development● Manufacturing● Social Media● PR/Press● Product page

● Video● Photography● Email!● And more...

1. BUILD A TEAM


The projects on IndieGoGo that have four or more team members as administrators raise 72% more money than projects with only one team member.

Worried about money? Offer your team a percentage of the raise. High potential for them, low risk for you.

2. ASSESS YOUR POSITION FIRST


● Why are you crowdfunding?● Do you need the cash?● Are there other methods of raising funds?

Then…

● Do you have a budget?

3. DO. YOUR. RESEARCH.


● Does your product suck?● Do you know how people value your product?

4. DO. MORE. RESEARCH.


● Talk to people● Ask open ended questions

○ Not “Would you buy...?”○ But “How do you currently do...? Does that

process work for you?”● Keep validating

5. PLAN AHEAD


Launch Social Media

Begin PR Outreach

Photos/Video for Campaign

Launch campaign

Build Team

Run Ads

Email, Email, Email

Celebrate!Email, Email, Email

Giveaways

6. HAVE A BACKUP


● Contingency Plan● What if you fail?● What if you

succeed?!● Can you fulfill all the

rewards?● Nobody will babysit

you

FINAL NOTES


● Expect to have fun● Expect a challenge

PLACES TO GET STARTED


1. Browse through Kickstarter/Indiegogo2. Read more of the campaigns that failed3. Talk to at least one person who has done a

campaign before4. Talk to at least ten people about your idea

PANEL


Ethan Adams-Future Founders-Indiegogo campaign in June 2016: Nuni Toaster

Callie Spiros-Founder, Kali Zoe Designs-Indiegogo campaign in May 2016: The Mudra

Stephen Tinney-Founder, The Bindle Stick-Kickstarter campaign in February 2015: The Bindle Stick

QUESTION 1


How did you promote your campaign?

QUESTION 2


How much time for pre-campaign planning would you recommend?

QUESTION 3


What cautions would you give to someone looking at starting a crowdfunding campaign?

QUESTION 4


What surprised you most about running a crowdfunding campaign?

BEFORE WE GO...


This webinar series is a joint effort between Future Founders, Self-Employment in the Arts, and the Collegiate Entrepreneurs Organization

SEA


If you have an artistic passion or hobby and are looking to connect

with like-minded people who want to turn their art into a thriving

business...Join the Free SEA Mastermind

Facebook group!

CEO


CEO National Conference Registration is open! We'll be there with CEO and SEA in sunny Tampa,

FL this October 27-29.

www.c-e-o.org

Apply by October 20 atfuturefounders.com/startup/upitch

THANKS!


Ethan Adams on [email protected]

@futurefoundersfacebook.com/futurefounders

CROWDFUNDING 101€¦ · CROWDFUNDING 101. PANEL Ethan Adams-Future Founders-Indiegogo campaign in...

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