After launching consulting services 6 months ago, I have personally talked to hundreds of people wanting to crowdfund and have noticed a pattern among the majority of them. Here are the biggest misconceptions that I’ve found.
Type – The majority are only familiar with one type of crowdfunding. No matter if they want to raise a few thousand dollars or one million dollars, they are mostly interested in reward crowdfunding. Why pay interest or give equity away when you can get the money by giving t-shirts? They do not now that other types of crowdfunding exist like lending or equity.
Crowd – When…
As crowdfunding pervades the entrepreneurial realm, specific professions have emerged along with it. A crowdfunding campaign requires a number of things to allow it to do good marketing. A whole industry has emerged to cater to the needs of such campaigns. For example, promotional sites such as CrowdFundBuzz, CrowdBuilder, and CrowdfundingPR are geared towards drawing a larger audience towards a specific campaign through press releases, social media, and other forms of public relations.
Crowdfunding campaigns have also called for more specific professions such as videographers, lawyers, and accountants. Videos have become increasingly crucial to crowdfunding campaigns because they act as the…
In the past few weeks we worked on improving the crowdfunding platform profile page. We redesigned the appearance of the pages for each platform and added more information about the campaigns in each review—such as the amount that users wanted to raise, the amount they actually raised, and the category of respective project. With this additional information our users can get a better understanding of the reviews and pay more attention to ones that are similar to their own projects. We also updated the profile view for each of the platforms. Now the platform’s Twitter feed and the breakdown for of…
Last week I pitched CrowdsUnite at an event in NYC in front of 200 people and VCs. The vision of CrowdsUnite is to be the first destination online for fundraising. Companies and individuals can come to the site to learn about all the different types of funding such as donation, reward, debt, and equity. Based on their unique situation, the networks that they have, and their potential for future growth, they can pick the best crowdfunding site to raise money. The sites can be differentiated by user reviews and statistics. If users need help filling in their financial profiles or…
On July 14th Alex Feldman, the CEO of CrowdsUnite, hosted an introduction to crowdfunding for his New York City crowdfunding meetup group. Over 20 people came to hear Alex talk about the new and exciting industry. In the first section of the class Alex gave a basic overview of crowdfunding in his “What is Crowdfunding” talk, and then went on to explain the differences between donation, rewards, equity, debt and royalty based crowdfunding. Alex finished by giving the audience tips to run a successful crowdfunding campaign. To see the full presentation go to this link: http://prezi.com/w8ng8fddvkt6/crowdsunite/