As America’s Crowd Funding Strategist, Dr. Letitia S. Wright, D.C, teaches workshops for Small Business Administration, California’s SBDC’s and is a Guest blogger for the Los Angeles Crowd Funding Examiner and other Crowd Funding sites. She has the fastest growing platform for crowdfunding education and project promotion in America. This is an often-requested summary response to inquiries about crowdfunding.
According to Wikipedia, crowdfunding is the practice of funding a project or venture by raising monetary contributions from a large number of people, typically via the internet. It has been described as “the practice of raising funds from two or more people over the internet towards a common service, project, product, investment, cause, or experience.” As an industry, crowdfunding raised a total of $5.1 billion in 2013, and that number is projected to increase exponentially over the next few years.
The crowdfunding model is fueled by three types of participants: the project initiator who proposes the idea and/or project to be funded; individuals or groups who support the idea; and a moderating organization (the “platform”) that brings the parties together to launch the idea.
Everything from technology innovations, films, books, games, music, art, design, and nonprofit endeavors are packing the popular crowdfunding category of financing vehicles. Crowdfunding platforms are brimming with the hopes and dreams of many people in all walks of life who just need to place and share their ideas with a broader audience, for feasibility validation, support and ultimately funding.
Hundreds or even thousands of creative projects may be offered on crowdfunding websites at any given time. Each campaign is independently created and and presented by the person or people behind their offering. The campaign ideas are developed by campaigners who have complete control over their projects and full responsibility to make them successful.
Every campaign creator establishes their own campaign funding goal along with a deadline of up to 90 days that the campaign may be permitted to run. The length of time a campaign is offered may vary and most successful campaigns will fund well in advance of the maximum period. If visitors to a crowdfunding website like a campaign, they can become a supporter and pledge funds toward the campaign’s published financial goal.
If the campaign succeeds in achieving the posted funding goal, the campaign owner will receive the funds, less payment processing fees and a small percentage platform fee. For campaigns that do not reach their published goal, the campaign owner may still elect to receive the funds collected, less payment processing fees and a platform fee.
Crowdfunding is marketing, from the promotion of the initial concept to the delivery of the product or service. That’s where the electrical excitement engulfs the project in a glee similar to a “Race for the Cure” fundraising campaign. Heart-felt life-pursuits are passionately enhanced through the interaction of a supportive community.
Converting interested readers to enroll themselves in your idea is key to transforming your community of connections into supportive dollars. Remember, nearly all of your connections with your readers happen behind a screen, so most of your supporters have never met you and probably never will. That means you need to establish your legitimacy solely through your campaign. Therefore, it is critical you envoke a personal buy-in as immediately as possible in the pitch.
Visuals bring personality to your campaign, connecting on a personal and emotional level, quickly building credibility. Videos are an especially powerful aspect of crowdfunding campaigns. People are far more inclined to watch a short video (2-3 minutes MAX). Successful project videos are a good balance of entertaining, engaging, and informational.
Videos can generate a solid understanding of the idea, and they also define the tone and ambiance of the campaign. The idea is to show the magnificence of your idea, not tell it. The better you can make readers understand, the more they’ll care. Caring loosens the wallet, and can inspire the reader to get involved as a contributing supporter.
Crowdfunding has opened the project development and production funding gates. Entrepreneurs now have the tools to effectively present their funding needs to a large audience and capture every possible funding type, all in the same campaign, dramatically launching the ability to capitalize any new idea. While this doesn’t mean that every company will be funded, but it does increase, significantly, the likelihood that your or anyone’s new idea will get to market. This is definitively great news for everyone.
The Wright Place TM TV Show interviews with the top Crowdfunding CEO’s have given Dr. Wright the insight needed to make crowdfunding easy for regular entrepreneurs, authors and entertainers. Dr. Wright has been the MC for several crowdfunding events over the last 3 years and is a frequently sought after speaker and panelist. She is the author of the upcoming book “101 Tips to Successful Crowdfunding: From Someone Who’s Been There, Done That and Got the Cash”.
Dr. Letitia S. Wright is accepting 1 new client in April, if you are ready to have your project done and get funded, you can apply for this spot at:https://checkappointments.com/appts/GGMlflNbSw
‘SBA Participating Event’ Dr. Letitia Wright’s Crowdfunding Workshop, Friday, March 20, 2015 from 10:00 AM to 12:30 PM (PDT), in Glendale, CA.
Remember to add to your calendar the ‘SBA Participating Event’ Dr. Letitia Wright’s Crowdfunding Workshop, Friday, March 20, 2015 from 10:00 AM to 12:30 PM (PDT), in Glendale, CA. As America’s Crowdfunding Strategist, Dr. Letitia S. Wright, D.C, teaches workshops for Small Business Administration, California’s SBDC’s and is the Los Angeles Crowdfunding Examiner and Guest blogger for other Crowdfunding sites.
Dr. Letitia S. Wright, also has the fastest growing platform for crowdfunding education and project promotion in America. She has been the MC for several crowdfunding events over the last few years and is a frequently sought after speaker and panelist. Plus, she is also the author of the upcoming book “101 Tips to Successful Crowdfunding: From Someone Who’s Been There, Done That and Got the Cash!”
The Small Business Administration Crowd Funding Workshop taught by Dr. Letitia Wright – America’s Crowd Funding Strategist happens, Friday, March 20, 2015 from 10:00 AM to 12:30 PM (PDT), at 330 North Brand Blvd, Suite 1200, Glendale, CA 91203. In this strategy-packed workshop, Dr. Letitia Wright shares key development factors present in successful crowdfunding projects. You will leave aware of how to use crowdfunding to raise money for your business, book, invention, event, charity, prototype or almost anything.
Along with being America’s Crowdfunding Strategist, who has proven that you can start a campaign and be funded in less than ten days, Dr. Letitia S. Wright, D.C, is a celebrity, international speaker, talk show host, author, director and movie producer. With her nationally syndicated television show, the Wright Place TM TV Show, Dr. Wright’s interviews with the top Crowdfunding CEO’s give her the insight needed to make crowdfunding easy for regular entrepreneurs, authors, small business owners and entertainers.
There are many different types of crowdfunding that meet specific needs. The workshop will help you discover the method that will be most beneficial to you. Through this class, you will learn:
- The 5 Types of Crowdfunding and how they work- so you can choose the best for your project
- The steps to creating a successful crowdfunding campaign- so you can set up your own and make money
- The pitfalls to watch out for – so you don’t lose money, reputation or put yourself at risk.
Dr. Letitia S. Wright, D.C, is a celebrity, international speaker, talk show host, author, director and movie producer. As the host of the Wright Place TM TV Show, now in it’s 14th season with over 362 shows previously broadcast on television to over 6.5 million homes each week in Southern California on Direct TV Channel 64. Also, now seen nationally on DISH network in 60 million homes,The Wright Place TV Show continues to provide resources for entrepreneurs, authors, small business owners and entertainers. Dr. Wright also directs infomercials for some of the hottest products on TV today. Dr. Wright has spoken to crowds as large as 3,600!
Don’t miss this Crowdfunding workshop opportunity, keep Friday, March 20, 2015 from 10:00 AM to 12:30 PM (PDT), available for the ‘SBA Participating Event’ Dr. Letitia Wright’s Crowdfunding Workshop, in Glendale, CA. This could be the pivotal event in your “Success Journey.”
Click Here to Register: Small Business Administration Crowd Funding Workshop
Sydney Armani CEO and Publisher CrowdFundBeat Media @Sydney_armani
Crowdfunding USA put out the list of Who’s Who in Crowdfunding and I am on the list!
The truth is, crowdfunding as an industry is changing. There are many people who still think you can just throw your project up on a website and then millions will come and give you money. Our industry is dedicated to educating people as to how it works as well as obtaining new clients.
This summer I will be teaching at the Small Business Administration in Los Angeles as well as CSISB. I look forward to sharing with people about crowdfunding and how it works.
If you need to learn more about Crowdfunding, please visit
www.getcrowdfundednow.com for free videos and other educational information.