In marketing we talk about setting short-term goals and long-term goals, the basic concept of a step-by-step approach to achieving your objectives. While a great concept on paper, when human nature takes over we often end up celebrating after the success of a short-term goal and letting the long-term goals slip.
This is something I call the ‘High Five Syndrome’. You often see it displayed at Continue reading
Have you ever heard the saying “bet on the jockey, not the horse”? It means savvy investors will invest in an “A” team (the jockey) and a “B” technology (the horse) but not the other way around.
It’s not unusual to not have the “A” team in place when you start your company, but here are three things you can do tohelp mitigate that shortfall.
(1) Strong background: When marketing your product in advance of your crowdfunding launch, make sure to highlight the experience and background of your team. If your management team experience is weak, that’s okay if your product Continue reading
The last decade has seen the advent, rise, and dominance of social media. It is pervasive in our work and personal lives and it has revolutionized the way many approach business and investment. Facebook, which started in 2004, now has over 1.23 billion active monthly users, while Twitter has over 218 million users. The success of social media platforms such as these has resulted in the proliferation of new technologies and indeed, whole industries.
Crowdfunding, which has only recently begun to gain popularity, owes much of its success to traditional social media platforms such as
Raising capital for a business venture, no matter how you approach it, can be a challenging endeavor. Crowdfunding is a relatively new medium for attracting investors but although only in its infancy, it is fast becoming the way to raise capital for new or growing business ventures. The perception has been however, that pitching your campaign to the market through a crowdfunding portal is a foolproof way of raising the funds you need to move forward. And since you suddenly have access to millions of potential investors, why wouldn’t you think that?
Placing all your trust in a crowdfunding portal is not a recommended strategy. In fact, it’s not a strategy at all. To make the most of crowdfunding as an avenue to raising the capital you need, avoid these common mistakes: