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What has been your experience with Crowdfunding?

    • 4 posts
    May 11, 2014 10:08 PM EDT
    Hello All,

    I'm curious to see how familiar this community is with crowdfunding and to see if any of you would like to share your experiences with it.

    Did you succeed, and if so, what do you attribute to your success?

    Did you fail, and if so, are you a non-believer, or was there something you could have done better?

    Would love to hear your input as we are about to launch our own crowdfunding campaign for our startup and have been preparing for 6 months in anticipation.

    Thanks!
    • 4 posts
    May 17, 2014 12:53 PM EDT
    Hi,

    I personally think crowdfunding is a great way to receive donations/ funding for business ventures. I am fairly new to the idea of crowd funding, but when I visit websites such as http://www.gofundme.com/healthandwellness I see how much people have benefited from crowdfunding.

    Crowdfunding is not only a great way to receive financial assistance for your business, it can also help with medical expenses, bills, work related expenses, and help you financially achieve personal goals.

    I personally have very positive views about crowdfunding, and I think it's an excellent source to get funds that you need.

    I created a crowdfunding page, visit my page to see how easy it is to get started http://www.gofundme.com/healthandwellness

    Thank you
    • 4 posts
    May 17, 2014 1:00 PM EDT
    Hi Talia,

    Thanks for sharing. Yes it is a wonderful mechanism if entrepreneurs execute a 3 to 6 month strategy and treat it like a Marketing and Communications campaign. Unfortunately, most people when they hear about crowdfunding get super excited (as they should) and a week later put a project online without doing their own research and telling any of their friends, family, and networks about it. Without receiving a good portion of the funding within the first week (30%), many projects won't have the wherewithal to get the rest of the funding.

    The way you get the initial burst is by ensuring you execute a strategy 3 to 6 months ahead of time and making sure everyone knows about your project before you launch.

    How are things going with your project?