Crowdfunding Now!

As the article notes, "For a people who revere startup culture and the idea that one can bootstrap one’s way to business success, we seem to prefer the TV version to the real thing — especially as of late. It turns out that new business creation recently approached its 40-year low. Banks are retaining their Great Recession-era tight-fistedness and the costs of education, housing and healthcare continue daily to expand beyond the ability of most Americans to keep pace... Due to these factors — along with the legalization of equity crowdfunding accomplished via the passage of the JOBS Act in 2012 — crowdfunding has arisen as a means of raising startup funds. You may only be familiar with crowdfunding in the context of all the medical- and disaster-based campaigns that have been making the news lately, but crowdfunding is a viable way to raise money for businesses as well." See the full article at:  https://www.merchantmaverick.com/crowdfunding-for-startups-8-tips-you-s

Crowdfunding campaigns that reach 30% of their goal in the first 48 hours dramatically increase their chance of success. Early contributions are more valuable, since they help drive interest and attention. Create multiple touchpoints. Comparing crowdfunding campaigns: Campaign A:  Email: 6.23 conversion rate. Facebook Group: 28.69% conversion rate. SMS 6.96% conversion rate. Campaign B:  Email: 2.06 conversion rate. Facebook Group: None. SMS 6.74% conversion rate.

Blockchain for Social Impact NYC November, 2017 https://youtu.be/0_m5qp_iLUs via @YouTube

The Download: A crowdfunding site for black entrepreneurs By Steven OverlyApril 14, 2013 William Michael Cunningham says the black community has a tradition of “passing the hat” to collect donations when a friend needs financial help. That same custom guides BlackCrowdfunding.net, a Web site Cunningham has created where black entrepreneurs can raise money to start businesses. It’s one of many initiatives underway nationally, including several here in Washington, that aim to harness the potential of crowdfunding to benefit women and minority entrepreneurs. For a variety of reasons, these groups have often struggled to tap more traditional financing mechanisms, such as bank loans and venture capital. Cunningham said that fact was compounded during the economic downturn as many black families lost wealth when home values soured and unemployment climbed. “Most people start a business by taking out loans on their houses or going to friends and family and raising money that way,” C

1. A verifiable track record of growth 2. Make sure the deal stands on its own 3. Remember that people invest in people Planning To Raise Millions Of Dollars? Consider These 3 Pieces of Advice via @Entrepreneur http://entm.ag/pzg1