Crowdfunding Now!

The items below are from an article on what causes small business failures. I have repurposed it to show how crowdfunding addresses these issues and how we use these factors in evaluating potential crowdfunding campaigns. "Inadequate Financing" Clearly, crowdfunding addresses this issue. "Amount of Effort Exerted:  The single most important factor in determining who succeeds and who doesn't is simply the amount of effort exerted. If you aren't ready and willing to work - and work hard - being an entrepreneur is probably not for you." While we don't believe that effort expended is the single most important factor, crowdfunding is hard. If you will not work hard on it, and work smart, then you will not do well. "Lack of Planning:  Another fact rarely considered is that the majority of new businesses fail within a few years mostly due simply to poor planning or no planning at all." You have to plan your crowdfunding ca...

" 1. Have the right type of product or business.  A large number of people must be able to understand your idea easily. Consumer, food, consumer electronics , and fashion products are particularly well suited to this. 2. Create a compelling video.  Most people will want to hear your story, see who you are and see prototypes of your product. 3. Raise sufficient funds.  On some crowdsourcing platforms, you don’t receive any money until you raise your total goal. This means you want to set an achievable fund-raising target. But you may not be able to go back for additional rounds or raise more than your target, so make sure you set the bar high enough to execute your vision. 4. Choose the right crowdfunding platform.  Make sure the site you choose meets your particular needs, including the right type of product or service, the type of rewards or equity you can give, the amount of money you can raise and the amount you need to raise before receiving anythin...

The shift in securities laws will make it easier to access capital for startups http://www.blackenterprise.com/small-business/jobs-act-win-for-minority-businesses-title-3/ Related articles WATCH: This Morning's Hearing On Crowdfunding & The JOBS Act Is A Big One Small Business Startup Funding And American JOBS Act Title III Outside the Box: 4 ways investing in startups will become easier for you Minority Business Development Agency Announces Record Client Performance

As we get closer to equity crowdfunding , we will start posting additional resources you can use here. The first is a ten-page PowerPoint deck you can use to summarize your company/business idea. Download it at:  https://docs.google.com/presentation/d/10GpwffpJ8JCRwZOEJkDjbaUBDTWbqwN1DAUcexZhzbQ/edit?usp=sharing From the book:  The JOBS Act: Crowdfunding for Small Businesses and Startups Related articles How to create a basic PowerPoint Presentation Add an exit strategy to bullet points in a PowerPoint slide

With crowdfunding gaining traction, I thought I would revisit and update our crowdfunding tips. 1. Review other crowdfunding campaigns for best practices As one blogger noted, "Before you start your crowdfunding campaign,  study others who have done it well." There will be many  examples of how to do crowdfunding right. Watch our Twitter feed (@Blackcrowdfund)  2. Hustle Develop a " strategic approach." Who are you trying to get support from? Why would they support you? What are the long term benefits to your supporters? Are you going to hit them up again? How many times?  Create a m edia list. Get "ambassadors," people who will speak on your behalf. "Plan ahead  as much as possible. This means contacting your supporters before you  launch to firm up their promotion and participation, and also  developing a thorough marketing plan." Above all, get going! 3. Adapt quickly As one crowdfunder put it, things may not go as planned. You wi...

The University of California, Berkeley's Fung Institute for Engineering Leadership has conservatively estimated the size of the equity and debt based crowdfunding market to be at least $3.98B.  Professor Lee Fleming, Faculty Director of the Fung Institute, Academic Director of the Program and contributing author said, “While estimating the size of the future and currently non-existent market is a hazardous endeavor at best, we have presented a set of data, assumptions, and estimations that may prove useful. From the lenses of Angels, VCs and Small business lending we believe a market as large as $3.98B per year could rapidly evolve.” “While Venture Capitalist Fred Wilson added credibility to the concept of crowdfund investing by predicting crowdfund investing could amount to a $300B market, we believe that the market size may be much small yet equally impactful” said   Sherwood Neiss , co-founder of the Program for Innovation in Entrepreneurial and Social Finance and ...

What is the project about? My website will help single mom's and frustrated single dads with their out-of-control young boys.  Although we will help any single parent of any race we are targeting African American boys and young men. We will allow them access to Recorded and Live webinars featuring African American mentors from all walks of live.  Such as: police officers, Pastors, business owners, teachers, principals, mechanics, etc. There will be time for questions and answers, action plans for success and much more. We will also make ourselves available for phone or online one-on-one talk sessions to allow them to express themselves and have someone who cares listen. How will we use the funds? I will use 100% of the funds to expand the website and market to single parents online and newsprint. Why am I doing this? Because I work in our community and I understand that we are all good inside but some of us are misguided.  I've hired several people for my company ...

7 Strategies For Launching A Successful Crowdfunding Campaign 1.  Tell your story.  - Critical. 2.  Provide value for value. - Important. Include social value . 3.  Introduce scarcity. - (I disagree.) 4.  Create a marketing event. - This helps... 5.  Highlight examples of social proof.  - show social return..... 6.  Build credibility and legitimacy. - This should be second.... 7.  Interact with your supporters.  - Crowdfunding is all about the crowd... http://www.forbes.com/sites/theyec/2013/04/17/7-strategies-for-launching-a-successful-crowdfunding-campaign/ Related articles Piggybackr Launches Its 'Kickstarter For Kids' To Let Youth Get In On The Crowdfunding Wave Crowdfunding Expected to Drive Alternative Financing Market to More than $150 Billion by End of Year 2015 Bake Sale 2.0: PledgeCents Launches A Crowdfunding Platform To Help Underfunded Schools Raise Money New Crowdfunding Platform Rewards Creative ...

"We are a social service and job building program for chronically unemployed and hungry families. We train and equip people within the community to grow whole fresh foods for themselves and to sell their home grown produce for economic empowerment . Funding for our program will be used to train the unemployed to grow and produce whole foods for themselves and their families." http://www.blackcrowdfunding.net/en/projects/199

"Thomas Steinemann turned to crowdfunding to re-launch the Swiss watch brand DuBois et Fils when he was unable to find the equity needed. He raised CHF1.5 million ($1.57 million) in five months by selling shares via the Web. When Steinemann bought the dormant DuBois et Fils watch factory in 2010, he was convinced that banks and investors would follow him in recapitalising the company. Founded in 1785, it is the oldest Swiss watch factory and one of the oldest Swiss watch brands. Investor perks As a marketing professional, who successfully introduced the American Fossil watch brand to Switzerland in 1988 despite the economic crisis, he sensed the marketing potential of crowdfunding. “The idea of getting a lot of people involved is very powerful for a brand. It’s almost more important than finding the money,” he disclosed. The way Steinemann built his crowdfunding campaign was to propose a low buy-in with high benefits. For as little as CHF500, individuals not only...