Mint.com Interview on Crowdfunding
Dr. Letitia Wright has a huge heart for entrepreneurs. She loves their energy and the twinkle in the eyes they get when talking about their product. She’s passionate about helping them because she has personal experience seeking help for running her own business and coming up empty handed.
Wright started her career as a chiropractor, and while she loved the medical part of her job, she struggled with the business side. There weren’t enough clients and she needed a marketing strategy. The lowest point of her journey was when she went to hire a practice management company to help her troubleshoot the business issues and they told her she didn’t make enough money to be one of their clients.
She focused on learning about business herself, eventually creating a TV show in 2000 for entrepreneurs called “The Wright Place,” which offers advice, resources and growth strategies to small business owners.
“I never wanted anyone to feel the punch in the stomach that I felt,” she said.
She stopped seeing patients in 2004 to focus on growing her business career and hasn’t looked back. In the past several years she’s thrown much of her energy at becoming a go-to source for information on crowdfunding, constantly reading new information, following trends, keeping up to date on SEC best practices and growing her knowledge on what is a relatively new way to raise capital for a project.
Working with private clients as well as running her own successful crowd-funding campaigns to pay for a book and workshop has given her plenty of insight on the ins and outs of open source fundraising.
With the economy still struggling and credit being hard to come by, Wright couldn’t have picked a better time to become an expert in alternative methods of paying for an idea.
“You can crowdfund anything,” she said. “It’s fantastic.”
Wright answered questions for Mint about crowdfunding. Here’s what we learned:
What’s the biggest misinformation about crowdfunding?