Doing good big has to start somewhere, the most important advice is to start!
We asked Alex Carpenter who used StartSomeGood to crowdfund Bicycles to End the Poverty Cycle to share his top five tips for a successful campaign.
- Start as small as you can, even change the idea to fit a small goal.
- Adapt fast, every business and every crowdfunding campaign is based on assumptions. When things ‘go live’ those assumptions are put to the test and more often they are proven to be wrong. That is normal! Take stock, learn and make changes. Roll with the punches.
- Understand that successful crowdfunding is based on a small group of power helpers. These are the people that are invested in the project, in the team and in you. These people are the ones that give it real traction and you need as many of these people as possible. To identify them it is best to think about who would buy you lunch if you forgot your wallet or purse? These people are invested in your success.
- Pack as much value into your crowdfunding campaign as possible. It is becoming a popular trend to offer early bird discounts as part of the crowdfunding, this works very well to gain traction quickly and is exactly what you need. If you can make people think “wow, I am getting a great deal.” This is an attraction magnet, bringing your project to more people’s attention.
- Use business partnerships. These can give you access to a new crowd of people while also giving value to your business partner. Some ideas that work and will get you talking to potential supporters and partners are asking local businesses or ones with complimentary interests to offer prizes, discounts, coupons or special deals (eg 2 for 1). The more people and organisations behind the crowdfunding campaign the more likely it is that it will succeed. Don’t be afraid to share the vision and share the love.
Alex says: “Crowdfunding gives an unparalleled ability to determine whether an idea, product or business will be a success, I cannot think of any situation where crowdfunding should not be used.”
To find out more about Alex and Atma Cycles go to www.atmacycles.com