12 steps to crowdfunding success

Jasper Mutsaerts
Apr 18, 2016 · 9 min read
Bohemian Birds has raised €60.000 at a €500.000 valuation from 82 investors within 7 hours

Step 1: Mobilize a killer team

Suggestion: Get investors on board that not only invest money, but also invest time, like for instance seed stage venture capital fund Blooming & Booming did during our campaign.

We are very lucky to have received an investment from seed stage venture capital fund Blooming & Booming

Step 2: Write a convincing business plan

Suggestion: Fill in the Business Model Canvas to start thinking about your business plan.

Step 3: Set a reasonable company valuation & fundraising target

Suggestion: Fill in the Equidam company valuation tool to get a reasonable valuation.

Step 4: Make a compelling video

Suggestion: Get feedback from people with experience in advertising, like we got from the former Head of Production of Wieden+Kennedy and the Founder of &LELOUX.

Step 5: Get feedback from potential investors

TEDx: How to use others’ feedback tol earn and grow

Suggestion: Make a list of 25 potential investors in your network and ask them to give feedback on your initial proposition. We got feedback from for instance the participants of the BrownCow Young President Inch by Inch Program

Step 6: Raise 40% before the start of the campaign

Suggestion: Ask people that want to invest to sign a commitment letter to make sure that they will invest on day 1 of the campaign

Step 7: Prepare the marketing campaign in collaboration with Symbid

TEDx | Robin Slakhorst | How new and old finance can work together

Suggestion: Closely collaborate with Symbid during the campaign, because they have a lot of experience and they have a financial incentive to succeed as well

Step 8: Launch the campaign through all channels simultaneously

Suggestion: Learn from other successful campaigns. We copied our message from Peerby of Daan Weddepohl. They raised $2.2 million through crowdfunding. Click here for more info.

Step 9: Inform the crowd about the progress

Suggestion: Be very transparent in the communication with the crowd, they will appreciate it.

Step 10: Thank investors through a video update

Warren Buffett on how to do investor relations

Suggestion: Make a video on a quarterly basis and keep it short, ideally no longer than 100 seconds

Step 11: Finalize the legal & financial matters

Suggestion: Get legal advice from experts. We were lucky to have one lawyer as an investor, so we asked this person as Head of Legal & risk.

Step 12: Generate free publicity after the campaign

Suggestion: Most advice is written by business people who have been there and done that. Start blogging even though you are just a beginner like me. People will appreciate it.

Jasper Mutsaerts

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Building the plane while flying

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