crowdfunding 101€¦ · crowdfunding 101. panel ethan adams-future founders-indiegogo campaign in...

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CROWDFUNDING 101

PANEL

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Ethan Adams-Future Founders-Indiegogo campaign in June 2016: Nuni Toaster

Callie Spiros-Founder, Kali Zoe Designs-Indiegogo campaign in May 2016: The Mudra

Stephen Tinney-The Bindle Stick-Kickstarter campaign in February 2015: The Bindle Stick

EVERY YOUTH CAN BECOME AN ENTREPRENEUR.

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We have served over 30,000 youth from elementary school

to college and beyond.

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PROGRAMS

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E-PASS

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FELLOWSHIP

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U.PITCH

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Apply by October 20 atfuturefounders.com/startup/upitch

TAKEAWAYS

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1. What is crowdfunding?2. What does it take to run a successful

crowdfunding campaign?3. How do I get started?

WHAT IS CROWDFUNDING?

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IN THE OLDEN DAYS...

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+ =

IN THE OLDEN DAYS...

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+ =

IN THE OLDEN DAYS...

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Months (or years)

Revenue

● Run out of cash● Bigger company

catches on● Need vanishes

Things take so long...

OR...

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+ +

OR...

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Months (or years)

Revenue

But it’s going to cost you.● Equity● Debt● Control

CROWDFUNDING

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+ +

CROWDFUNDING

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Months (or years)

Revenue

Preorders, not investment. Hold onto your:● Equity● Debt● Control

HISTORY OF CROWDFUNDING

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1997

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British rock band Marillion funds their U.S. tour by raising $60k online

2008

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2009

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NOW

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$34 billion (2015)

NOW

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$10,266,844

NOW

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$124,000,000

TIPS TO SUCCEED

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1. BUILD A TEAM

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● Complementary skills - you don’t know everything● Sheer shortage of time - you don’t have time to do

everything (not well)● Product development● Manufacturing● Social Media● PR/Press● Product page

● Video● Photography● Email!● And more...

1. BUILD A TEAM

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The projects on IndieGoGo that have four or more team members as administrators raise 72% more money than projects with only one team member.

Worried about money? Offer your team a percentage of the raise. High potential for them, low risk for you.

2. ASSESS YOUR POSITION FIRST

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● Why are you crowdfunding?● Do you need the cash?● Are there other methods of raising funds?

Then…

● Do you have a budget?

3. DO. YOUR. RESEARCH.

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● Does your product suck?● Do you know how people value your product?

4. DO. MORE. RESEARCH.

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● Talk to people● Ask open ended questions

○ Not “Would you buy...?”○ But “How do you currently do...? Does that

process work for you?”● Keep validating

5. PLAN AHEAD

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Launch Social Media

Begin PR Outreach

Photos/Video for Campaign

Launch campaign

Build Team

Run Ads

Email, Email, Email

Celebrate!Email, Email, Email

Giveaways

6. HAVE A BACKUP

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● Contingency Plan● What if you fail?● What if you

succeed?!● Can you fulfill all the

rewards?● Nobody will babysit

you

FINAL NOTES

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● Expect to have fun● Expect a challenge

PLACES TO GET STARTED

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1. Browse through Kickstarter/Indiegogo2. Read more of the campaigns that failed3. Talk to at least one person who has done a

campaign before4. Talk to at least ten people about your idea

PANEL

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Ethan Adams-Future Founders-Indiegogo campaign in June 2016: Nuni Toaster

Callie Spiros-Founder, Kali Zoe Designs-Indiegogo campaign in May 2016: The Mudra

Stephen Tinney-Founder, The Bindle Stick-Kickstarter campaign in February 2015: The Bindle Stick

QUESTION 1

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How did you promote your campaign?

QUESTION 2

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How much time for pre-campaign planning would you recommend?

QUESTION 3

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What cautions would you give to someone looking at starting a crowdfunding campaign?

QUESTION 4

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What surprised you most about running a crowdfunding campaign?

BEFORE WE GO...

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This webinar series is a joint effort between Future Founders, Self-Employment in the Arts, and the Collegiate Entrepreneurs Organization

SEA

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If you have an artistic passion or hobby and are looking to connect

with like-minded people who want to turn their art into a thriving

business...Join the Free SEA Mastermind

Facebook group!

CEO

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CEO National Conference Registration is open! We'll be there with CEO and SEA in sunny Tampa,

FL this October 27-29.

www.c-e-o.org

Apply by October 20 atfuturefounders.com/startup/upitch

THANKS!

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Ethan Adams on LinkedInethan@futurefounders.com

@futurefoundersfacebook.com/futurefounders

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