Startups today are witnessing an upsurge in people embracing it for the innovation it brings across countries and industries. Someone profoundly said, “It all starts with a thought”. But this is actually only partially true since organizations need to get the ground running in order to successfully achieve their mission and vision for the company.
In terms of execution however, a key factor that comes into play is getting the right funding and back-up from investors .Most startups have found a simple and effective technique to overcome this challenge – crowdfunding.
In a nutshell, crowdfunding is essentially raising money from investors to fund your idea/ business plan.
Is it just a fancy term or something that really helps your startup?
Well, it is still relatively a new concept but it holds immense potential.
But how can you onboard and win the trust of the stakeholders towards raising capital?
Let us know about in detail:
Most renowned speakers will tell you the importance of storytelling in getting the right people to resonate with your objective or strategy. Sharing the reason for your growth plans or even as simple as why you want to do things the way that you have planned is critical towards investors building trust in your goals. Pitching your story with a great deck of slides, a little humor in your speech and promises towards high returns can help build credibility. Along with your personal story, also outline the uniqueness of your product. You now have a good combination that is bound to make people invested in you.
This is a prelude to the first point and should essentially be the first step in your plan. Funding is of course relative to different other factors. However,setting a goal can help you take a step closer and be more realistic about what you can achieve from this exercise. As a part of the process, also be sure to pledge and reach the right people with different types of campaigns
3. Campaign Promotion
Build awareness for your startup using different forms of marketing, social media and offline methods. Make use of different quirky and upcoming channels that can garner attention to your product.
4. Going back to where you started
Many startups tend to think that the destination is in receiving the capital intended and just forget to share regular updates on progress with their backers. Good organizations believe in transparency and sharing information on how things are actually shaping up. What you share could mean good or bad news but it still builds trust in the company and its founding team.
5. Fulfilling your promise
Be sure to track your progress and goals even once you receive the intended funding. Success is an ongoing journey and crowdfunding is just the start. Be open with your investors, track progress, stick by the goals you first outlined and strive to keep building.
If you are a startup looking to leverage crowdfunding to jumpstart your journey, do reach out to us.
We can help!
We look forward to hearing from you.