Crowdfunding 101: What’s involved?
Crowdfunding has transformed the way startups launch their business and enter the market. It is a $30bn industry and has the power to make your idea actually happen.
Like any multi-billion dollar industry, there are multiple service providers such as Kickstarter, GoFundMe, Experiment, Patreon, Recurrency and our homegrown Pozible. As an entrepreneur, you should find the one that fits and gives you the best possible chance of taking your startup to the next level.
Crowdfunding is designed to help you communicate with your stakeholders and the key to doing that is through creating an engaging campaign that gives your supporters no other option but to invest in you and your idea! The best campaigns will include a video to help communicate that message. It is also crucial to set a target for your campaign not just because the platform won’t let you start a campaign without one but because it shows your stakeholders what you need to take your business to the next level and also shows them the impact of their investment.
Put yourself out there: Share your vision and story
Crowdfunding is about believing in your idea 100% and convincing everyone else to do and feel the same about it. It gives you the opportunity to share your vision and story with the world and create an authentic connection with those who believe in you.
In return for your investor’s money and support, you offer them rewards to the value of their investment, for example, a discount off their first purchase or merchandise. Along with rewards, you should always thank your supporters. This will go a long way in creating an authentic connection and bringing your supporters on the startup journey with you.
Need Help? Hatch Quarter maybe able to help you.
Lucky for you HQ has partnered with Australia's own, Pozible, to make crowdfunding … ah .. possible for you, right here on the HQ site. We will be helping startups make their mark and have done a bit of the hard work for you. Pozible is a trusted Aussie company with global access. Over 12,000 projects have launched since they started in 2010 and they have had an impressive 57% success rate of projects on their site!
The best part about this is that HQ will be there with you and support you every step of the way to ensure you are one of that 57 %. You can work with HQ team to work on your idea and crowdfunding profile because If you don’t reach your target you won't receive any money.
Saying that you are able to start your project by yourself today. however, we thought it would be helpful to give you a further background and some tips to help you start your own crowdfunding campaign.
Check out what others are doing and how they have been successful. Here are a few of HQ's faves to get you feeling inspired.
https://pozible.com/project/60at60
https://pozible.com/project/178187
https://pozible.com/project/the-melbourne-map
https://pozible.com/success-story/crowdsourcing-australian-wine-example
The dry side of crowdfunding
You really do have to do your research. Make sure you have a good understanding of your rights and responsibilities. You can find out a little more about that here.
Whats next? If you want to start your Crowdfunding campaign please contact HQ Team.
Contributed by Adisa Hubanic