Crowdfunding — Day 2

After a full day researching crowdfunding, I feel excited, motivated and raring to go! That said, I’m aware how much there is to do to run a successful and well thought out campaign. Fortunately though I think that starting now will allow this to be done.

Immediate priorities:

  • Clarify/Work on Timescale
  • Succinct, yet exciting and engaging description — “what do you want this money for?”
  • Complete the financial projections.
  • Define the team structure.

Something else I read today was - “why Crowdfunding and not more traditional methods of raising finance?” This is a fair question — as an established business we could go to the Bank or other commercial loan/finance provider — so why not?

  1. This is an opportunity for both sides.
  2. For us to engage with our customers and the local community.
  3. For them to invest in a local business looking to improve the service we provide them with.
  4. To offer a range of rewards that inspire and excite.
  5. To keep it ‘Local’ and stick it to the Man!
  6. This isn’t just fundraising but a unique opportunity to raise our presence and do invaluable marketing on the back of the fundraising.

The most important thing I’ve taken from today is the importance of ‘Our Story’. We need a tight, compelling, engaging narrative. Clearly explaining where we’ve come from, where we’re going and why it matters to our potential funders. Fortunately I’m on this.. 😄

Finally there’s a slight quandary I have come back to a few times. I haven’t yet detailed here what this fundraising is for. I know ‘I know’ — but should I make it public yet? It seems a bit odd blogging about something, when that something isn’t something that is yet known! I just feel that I’m not quite ready yet. Although this blog is to record the journey, should it be warts and all? I’m a bit concerned about potentially exposing too much of the planning and machinations of the process. But as a naturally shy social mediarist’ at least I’m doing this!

I’ll end here with a few of my favourite links of the day