Crowdfunding for upcoming businesses
You’re starting your own business but your lacking the finances for certain aspects of your company, how can you make up the difference? How and where do you find investors? We are here to give you some insight to the who, what, where and how to start this process.
The latest trend to help start your new business is crowdfunding. A topic only a select few actually know about. Unless you personally know someone who has benefited from crowdfunding, getting started can seem overwhelming. LabWorkz can provide you with simple instructions and assistance setting up your crowdfunding account.
When you search crowdfunding you will pull up a number of different websites to start your search for investors. How do you know which one will benefit your company?
Step one: Find a site that best suites your needs. There are different criteria for each website. Some sites provide you with a template, or an outline for your business plan. Make sure you check what percentage you will have to add to your budget since the majority of sites charge up to 4% or more.
Step two: Make a video presentation. This is where you pitch your idea via social media exposure. Video production can drive more interest into your project. LabWorkz is more than happy to help you with this step. We have helped several of our clients in video production for promotional purposes and to drive up business. We have also made our own tutorials to help our clients manage their site or simply update any content.
Step three: Set a clear ending date for fundraising. It helps to break up your project into different sections. Plan small fundraising goals for each section and take your time planning each one. Putting your eggs into one basket can cause it to tip over. If you set your goal too high you may not be fully funded at the end of your timeline so spreading things out gives you a better chance of reaching your goals.
The final step is the most important one. Have fun and make sure you explain your ideas to their full potential. Capturing your audience and creating an interest in your project is key!
Written by Gary Martin
