How to crowdfund your business by geoffrey byruch

• When starting your own business, financial funding plays a large portion in whether it is successful or a bust.. • So what can you do when you do not have the appropriate funds?. Who c

H O W T O C R O W D F U N D Y O U R B U S I N E S S

B Y G E O F F R E Y B Y R U C H

I N T R O D U C T I O N

• One of the biggest problems many entrepreneurs have is

finding necessary funding to

finance their projects

• When starting your own

business, financial funding

plays a large portion in whether

it is successful or a bust

• So what can you do when you

do not have the appropriate

funds? Who can you turn to

build up that financial pool to ignite your startup? The answer

is simple Turn to the people

W H AT I S

C R O W D F U N D I N G ?

• Crowdfunding is one of the

most popular financial donor sites that people can use to

financially fund their startups

• By definition, crowdfunding is the practice of financially

funding or establishing a

project or venture by raising

various small amounts of

donations from a large number

of people, typically online

So how does crowdfunding work?

R E WA R D S - B A S E D

C R O W D F U N D I N G

• The first model is the one people are usually aware

of which is the

rewards-based crowdfunding

model

• Rewards-based

crowdfunding is where

people can pre-purchase a product, buy various

rewards, or simply donate

to the company

• Here, donors are able to

become shareholders of the

company

• Often times, companies will sell their ownership and stake online

to raise the necessary funds so that their company can grow

into fruition

• Regardless of either approach you take, make sure you do your homework

E Q U I T Y

C R O W D F U N D I N G

D O Y O U R

H O M E W O R K :

Indiegogo

business is a company not a product

around with the site

and see what you

need to do before

asking for donations

T E L L Y O U R

S T O RY

• Work on your story

• Logistically and

strategically planning your story of your

company’s history, the ideas and products,

and lastly its future

• This will help entices people to donate

M A R K E T Y O U R

P R O D U C T

• Make sure the product itself is marketable and desire

• Having a product that solves any of the everyday problems

is something you want to

highlight

• This will attract a large amount

of people and give you and

your company the attention it

so rightfully deserves