Date post: | 16-Feb-2017 |
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Small Business & Entrepreneurship |
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NYP, 29 April 2016
CROWDFUNDING
By Yuying Deng Co-founder Ideal Workspace
Email: [email protected] Twitter: @yuyingdeng
“the practice of funding a project or venture by raising many small amounts of money
from a large number of people, typically via the Internet”
What is crowdfunding
5 necessary ingredients• Have the right product
• Be at the right stage
• Build your community before
• Get your pitch right
• Master the crowdfunding algorithm
Be at the right stage
• Proof-of-concept prototype
• Certification requirement
• Shortlist of manufacturers
• Manufacturing, shipping and tax cost estimate
• Timeline estimate
Build your community before
• 6 months preparation
• Landing pages with email collection
• Interact on social media and forums
• Run Facebook and Google ads
• Buildup excitement to launch
Get your pitch right • You have 2 seconds
• A great video is essential
• Get good photographs
• Tell your story
• Understand what your customers want to hear
• Approach the press
Master the algorithm• Structure your perks cleverly
• Time your launch
• First 48 hours are crucial - rally your troops
• Have a strategy for the mid-campaign slump
• Last 48 hours are crucial
We crowdfunded the Aspirus Smart Workstation on Indiegogo, raising 120% above our goal:
http://igg.me/at/aspirus