Funding Friday: Top Crowdfunding Reads of the Week (5/29/15)

Recommended Read #1

If you’re an entrepreneur, then you know what it’s like to dream – and for many of us, these dreams run rampantly wild and our ideas cannot be stopped.

Unfortunately, having a wildly creative and innovative idea isn’t always the key ingredient to success. On platforms like Kickstarter or Indiegogo, startup founders are given the ability to enter the business world without a lot of their own, upfront investments, but their ideas aren’t necessarily ‘unique’.

Entering the business world with an idea that is different than what people are used to can be a hit or miss situation. Let’s face the facts: many people avoid change altogether, so asking them to stray away from what they’re used to be may be a stretch.

It may seem like creating a different and unconventional product may not be what the world needs, but instead of asking your customers what they want, building a strong marketing campaign and a reputable brand can be persuasive enough to your target audience.

Matt Ward explains how originality can sometimes be a hard trait to take into the business world, but it doesn’t mean that uniqueness should be avoided. Click here to read “Invention vs Incremental Improvement – The Two Powerful Paths to Profit“.

Recommended Read #2

After reviewing “crowdfunding Successfully: A Guide For The Perplexed,” it’s safe to say that in a way, there may be some small ways to control your crowdfunding campaign. Once your campaign goes live via Kickstarter or Indiegogo, your project is simply left for the investors to fund or pass.

In the article, Kerry Hannon provides eight tips to running a successful crowdfunding campaign, because even after you’ve sunk all of your time and money into a project, success is never a guarantee in the business world.

Hannon reiterates the importance of setting achievable goals, as well as not just choosing any platform to launch your idea on. You’ll want to weigh out the policies and fees on every platform, so that you aren’t surprised with hidden costs or rules, as well as when and how long your campaign is going to stay live. For example, while Kickstarter campaigns can last up to 60 days, Indiegogo campaigns can last no longer than 40.

She goes on to advise entrepreneurs to carefully plan the ‘gifts’ that your donors will be receiving, as well doing what you can to pre-promote your project and find donors before the project hits the public. Your current friends and followers will get pumped up just knowing that you’re ready to release your ideas into the business world.

You can read the full guide here.