What You Should Know About Crowdfunding Your Start-up

NCFA Guest Post | July 22, 2019

Startup crowdfunding2 - What You Should Know About Crowdfunding Your Start-up

Crowdfunding has been one of the main sources of achieving small amounts of money from larger crowds to begin a start-up company. This method of obtaining capital has been one of the most popular means of successfully being financially capable of creating an operational company without the restraints of loans or additional debt. Regardless, if you are crowdfunding your start-up, you will need to know one or two important factors.

Start-ups Eligible for Crowdfunding

Although many believe any start-up could qualify for achieving successful funding from the internet, some first time companies do better than others, all based on what they are and which crowds they will attract. For example, while an online casino start-up will attract many enthusiasts, many may not be as enthusiastic upon the creation of yet another online recreational business, especially when there are already a number of successful online casinos. However, appeal to the human nature of people and offer a business aimed at helping the less fortunate, you may be able to attract a bigger crowd. Take this into consideration before appealing to the internet.

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Master Your Message

Because you are reaching out to the masses, you will need to know how to accurately get your vision across to many different minded people. Just because you see things one way doesn’t mean everyone agrees with the way you vision it to be. For this reason, you will need to consider what point you want the crowds to take from your idea and you want them to see how you plan to successfully execute this vision.

Your Target Audience

Before appealing to the public, know who you want to reach. It is one thing to accept money from anyone but you essentially want to touch your audience which means you will need to know who it is you are targeting. By determining who it is you want to reach, you would have established which audience you should be addressing and fine tuning your message to reach your targeted crowd.

Prelaunch Your Product

Approach anyone who you may already know with a social platform. For example, bloggers and existing customers with a following may be able to boost your ratings and audience by connecting you with their established database of clients and followers.

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Utilizing the Correct Platform

When you look at crowdfunding as a means to capitalize your start-up you will need to establish which platforms you wish to use and which will be best for your business. For this to be a successful venture this may be the most important step and as a result you should be examining all avenues through thorough research.

Crowdfunding may have been an exceptionally popular method of funding a start-up back in 2015, however it has now, like any other, become a compatible industry and as a result you wouldn’t want to be left on the backburner being just another company seeking aid in hopes of taking off. If you are aiming for success, ensure you have covered all of the above steps to successfully launch your start-up company.

 


NCFA Jan 2018 resize - What You Should Know About Crowdfunding Your Start-up The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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