For Creatives! Kickstarter Helps You Put on a Show!

 

Putting on a live show in the fall? Learn how Kickstarter can help you get it funded and a special prediction for the 3rd quarter from Dr. Wright!

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CEO SPOT

January 9, 2019 by  
Filed under Featured Articles, Front Page

 

I have an interview with Amy Walker on CEO SPOT podcast! I’m really excited, we had a great time, she really get it!

I hope you’ll listen and give her feedback!

Raising Funds With Business Crowdfunding Tools Part 1 of 5

Raising Funds With Business Crowdfunding Tools Part 1 of 5
By Dr. Letitia Wright

Crowdfunding is a term that covers many different things under business funding. If you think of Go Fund Me then, you’re missing out on what generated $187 Billion in 2018. It’s a whole lot bigger than Go Fund Me. Business Crowdfunding is going to grow past that in 2019 even if the American economy takes a dip because the worldwide economy is still growing and people can invest outside of the United sTates. Most wealthy American investors DO invest outside the United States. But that is a discussion for a different article.

Websites for crowdfunding are tools. They are not crowdfunding itself. The sites you use are merely a tool on which you crowdfund. In some cases ( not all) you don’t have to use a website, you can do crowdfunding on your website if you choose. I am not going into the details on that in this article, but I want you, dear reader, to understand that the option does exist. Successful business crowdfunding depends on having better tools at hand. Making sure you have the right website for your business or project is key to being successful. Thoughtful consideration to which site you are using is critical. When you only know about the “BIG THREE”: Kickstarter, Indiegogo, and Go Fund Me and there are over 2, 500 to choose from, you can not possibly make a good choice for yourself.

Most people who are running a business do not have the time to do the proper research. When people tell me they have been “looking” into crowdfunding and “researching it,” I am a bit skeptical. Not because I think they are not smart enough. I think, in today’s world, where we are over-committed, over-informed with information we don’t need and generally over-whelmed as business owners, I can’t imagine how anyone has the proper time to do that. Even if you read five books on crowdfunding before you crowdfund, it would take you anywhere between 2-6 months to do that, and your skill level would still be very low because you have never done it before. Imagine reading all the books on how to play baseball and then getting your turn at bat in a major league baseball game. Your knowledge of the game is there, but your skill level is not up to par with everyone else.

So having a strategy is very important. A crowdfunding strategy is a must-have tool. It’s the first thing you need before you start figuring out what website to use. Having someone who helps you put together a winning strategy is essential. 65% of people trying to crowdfund do not reach their goal. They think they are going to copy a successful campaign, but it’s hard to do with explicit knowledge of that strategy. I’ve helped reach and raise their goals over and over. And I’ve also helped people do a business check so they can improve their company over and make money in other ways.

I work with Purposeful, Passionate Female Founders who are looking for alternative funding, if that’s you, let’s talk! You can get on my calendar at
http://www.meetwithDrWright.com

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