CROWDFUNDING 101€¦ · CROWDFUNDING 101. PANEL Ethan Adams-Future Founders-Indiegogo campaign in June 2016: Nuni Toaster Callie Spiros-Founder, Kali Zoe Designs-Indiegogo campaign
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www.futurefounders.com
CROWDFUNDING 101
PANEL
www.futurefounders.com
Ethan Adams-Future Founders-Indiegogo campaign in June 2016: Nuni Toaster
Callie Spiros-Founder, Kali Zoe Designs-Indiegogo campaign in May 2016: The Mudra
Stephen Tinney-The Bindle Stick-Kickstarter campaign in February 2015: The Bindle Stick
EVERY YOUTH CAN BECOME AN ENTREPRENEUR.
www.futurefounders.com
We have served over 30,000 youth from elementary school
to college and beyond.
www.futurefounders.com
PROGRAMS
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E-PASS
futurefounders.com/startup
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FELLOWSHIP
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U.PITCH
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Apply by October 20 atfuturefounders.com/startup/upitch
TAKEAWAYS
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1. What is crowdfunding?2. What does it take to run a successful
crowdfunding campaign?3. How do I get started?
WHAT IS CROWDFUNDING?
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IN THE OLDEN DAYS...
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+ =
IN THE OLDEN DAYS...
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+ =
IN THE OLDEN DAYS...
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Months (or years)
Revenue
● Run out of cash● Bigger company
catches on● Need vanishes
Things take so long...
OR...
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+ +
OR...
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Months (or years)
Revenue
But it’s going to cost you.● Equity● Debt● Control
CROWDFUNDING
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+ +
CROWDFUNDING
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Months (or years)
Revenue
Preorders, not investment. Hold onto your:● Equity● Debt● Control
HISTORY OF CROWDFUNDING
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1997
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British rock band Marillion funds their U.S. tour by raising $60k online
2008
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2009
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NOW
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$34 billion (2015)
NOW
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$10,266,844
NOW
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$124,000,000
TIPS TO SUCCEED
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1. BUILD A TEAM
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● Complementary skills - you don’t know everything● Sheer shortage of time - you don’t have time to do
everything (not well)● Product development● Manufacturing● Social Media● PR/Press● Product page
● Video● Photography● Email!● And more...
1. BUILD A TEAM
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The projects on IndieGoGo that have four or more team members as administrators raise 72% more money than projects with only one team member.
Worried about money? Offer your team a percentage of the raise. High potential for them, low risk for you.
2. ASSESS YOUR POSITION FIRST
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● Why are you crowdfunding?● Do you need the cash?● Are there other methods of raising funds?
Then…
● Do you have a budget?
3. DO. YOUR. RESEARCH.
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● Does your product suck?● Do you know how people value your product?
4. DO. MORE. RESEARCH.
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● Talk to people● Ask open ended questions
○ Not “Would you buy...?”○ But “How do you currently do...? Does that
process work for you?”● Keep validating
5. PLAN AHEAD
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Launch Social Media
Begin PR Outreach
Photos/Video for Campaign
Launch campaign
Build Team
Run Ads
Email, Email, Email
Celebrate!Email, Email, Email
Giveaways
6. HAVE A BACKUP
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● Contingency Plan● What if you fail?● What if you
succeed?!● Can you fulfill all the
rewards?● Nobody will babysit
you
FINAL NOTES
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● Expect to have fun● Expect a challenge
PLACES TO GET STARTED
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1. Browse through Kickstarter/Indiegogo2. Read more of the campaigns that failed3. Talk to at least one person who has done a
campaign before4. Talk to at least ten people about your idea
PANEL
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Ethan Adams-Future Founders-Indiegogo campaign in June 2016: Nuni Toaster
Callie Spiros-Founder, Kali Zoe Designs-Indiegogo campaign in May 2016: The Mudra
Stephen Tinney-Founder, The Bindle Stick-Kickstarter campaign in February 2015: The Bindle Stick
QUESTION 1
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How did you promote your campaign?
QUESTION 2
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How much time for pre-campaign planning would you recommend?
QUESTION 3
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What cautions would you give to someone looking at starting a crowdfunding campaign?
QUESTION 4
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What surprised you most about running a crowdfunding campaign?
BEFORE WE GO...
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This webinar series is a joint effort between Future Founders, Self-Employment in the Arts, and the Collegiate Entrepreneurs Organization
SEA
www.futurefounders.com
If you have an artistic passion or hobby and are looking to connect
with like-minded people who want to turn their art into a thriving
business...Join the Free SEA Mastermind
Facebook group!
CEO
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CEO National Conference Registration is open! We'll be there with CEO and SEA in sunny Tampa,
FL this October 27-29.
www.c-e-o.org
Apply by October 20 atfuturefounders.com/startup/upitch
THANKS!
www.futurefounders.com
Ethan Adams on LinkedInethan@futurefounders.com
@futurefoundersfacebook.com/futurefounders
www.futurefounders.com
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