PreFunding Tool

by Alex Feldman

April 3, 2016

Prefunding Tool

This past week I taught a class on crowdfunding at NYC Business Solutions. I usually teach this class every six month, but this time around the content was a bit different.  In this class I broke down the “one third theory” which I have seen explained in multiple places by platforms and industry professionals. The theory is that an average successful crowdfunding campaign receives the first third of funding from the initial crowd or direct contacts of the campaign manager, the second third of funding comes from the friends of the initial crowd or two point of separation from the campaign manager, and the rest comes from strangers either through the platform or from marketing/PR efforts. In the presentation I went into details on how to build and achieve each third.  The big problem is that there is no tool to help you see if you are able reach the first third from your crowd. For example, if you have a goal of $30,000 that means you will need to raise $10,000 from your initial crowd. There are tools such as launchRock and prefundia which help you create a landing page for your product to see if your crowd is interested, however if you have multiple products you don’t know which one your users want. After thinking about this problem for the past year I decided to build a prefunding platform myself which solves this issue. It’s still in development and will launch in beta in the next few months. If you are thinking of launching a crowdfunding campaign in the next 6 months and want to try out our new product please email me. If you are chosen, I will work with you one-on-one for free while you are testing the platform.

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