Cogswell College - Handson Crowdfunding Workshop - March 29
-
Upload
cogswell-college -
Category
Economy & Finance
-
view
116 -
download
2
description
Transcript of Cogswell College - Handson Crowdfunding Workshop - March 29
![Page 1: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/1.jpg)
CROWDFUNDING has arrived!
Cogswell College of Silicon Valley – CJ Cornell @CogswellCollege
C.J. Cornell @cjcornell Cogswell Polytechnical College @Cogswell_Ent
![Page 2: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/2.jpg)
CJ Cornell is ...
![Page 3: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/3.jpg)
concept
IPO (market share,
revenues etc )
Product (Risk, growth)
Entrepreneurial Growth concept->product->market->profit
$ $
$
$
Venture Capital
Angels (accelerators/incubators)
![Page 4: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/4.jpg)
$28+ Billion
that’s with a “B”
![Page 5: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/5.jpg)
3,900
VC deals in 2013
![Page 6: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/6.jpg)
1,900
# seed/early stage deals
![Page 7: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/7.jpg)
![Page 8: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/8.jpg)
1,900
# lottery millionares in US each year
![Page 9: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/9.jpg)
Source: http://theyec.org/making-sense-of-the-jobs-act-and-crowdfunding-infographic/
![Page 10: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/10.jpg)
Crowdfunding
Crowdfunding
concept
IPO (market share,
revenues etc )
Product (Risk, growth)
Entrepreneurial Growth concept->product->market->profit
$ $
$
$
Venture Capital
Angels (accelerators/incubators)
Crowdfunding
Crowdfunding
![Page 11: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/11.jpg)
What is Crowdfunding ?
![Page 12: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/12.jpg)
The safety of crowds
The passion of crowds
The wisdom of the crowds
Crowdfunding
![Page 13: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/13.jpg)
Crowd FUNDING: (1)
soliciting & collecting
relatively small amounts of money (“funding”)
from a large number of people (“the crowd”)
![Page 14: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/14.jpg)
Crowd FUNDING: (2)
many individuals (the crowd)
coming together to support* ideas**
by other individuals and organizations.
Support = Funding, feedback, expertise, connections and more
Ideas = concepts, projects, products, activities, services,, causes, events etc …
![Page 15: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/15.jpg)
![Page 16: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/16.jpg)
![Page 17: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/17.jpg)
• Source – http;//crowdfunder.com Currently “kinda-sorta” legal in US – Sept 23rd 2013
![Page 18: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/18.jpg)
![Page 19: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/19.jpg)
![Page 20: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/20.jpg)
![Page 21: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/21.jpg)
![Page 22: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/22.jpg)
![Page 23: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/23.jpg)
![Page 24: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/24.jpg)
![Page 25: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/25.jpg)
![Page 26: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/26.jpg)
![Page 27: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/27.jpg)
![Page 28: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/28.jpg)
![Page 29: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/29.jpg)
Equity Crowdfunding ...
is here
![Page 30: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/30.jpg)
![Page 31: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/31.jpg)
![Page 32: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/32.jpg)
![Page 33: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/33.jpg)
![Page 34: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/34.jpg)
![Page 35: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/35.jpg)
![Page 36: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/36.jpg)
![Page 37: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/37.jpg)
![Page 38: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/38.jpg)
![Page 39: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/39.jpg)
![Page 40: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/40.jpg)
![Page 41: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/41.jpg)
![Page 42: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/42.jpg)
Jumpstart our Business Startup (JOBS) Act 5 April 2012 (& Aug 2012, & Dec 2012 ….)
![Page 43: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/43.jpg)
• Equity Crowdfunding - not (really) in the USA yet.
• JOBS act (April 2012) technically enables CF – but has
not yet been approved by SEC.
• No documented fraud in USA or other areas.
• Equity CF is for “high growth companies” seeking
significant funding from experienced investors
• Will dramatically change in 3-5 years (CJ prediction)
www.propelarizona.com
WYNTK (what you need to know)
![Page 44: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/44.jpg)
September 23rd
This is both GREAT news and BAD news
1. “General Solicitation” is allowed
2. But “Accredited Investors” ONLY
3. You must FILE w/SEC Prior
4. Investors must provide documentation
SEC Changes some 80-year old rules (“506c”)
![Page 45: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/45.jpg)
Rewards based,
“contribution” crowdfunding
The Kickstarter model –
‘donations’
![Page 46: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/46.jpg)
“THE KICKSTARTER MODEL” Rewards-based, Donation Crowdfunding:
![Page 47: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/47.jpg)
![Page 48: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/48.jpg)
![Page 49: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/49.jpg)
![Page 50: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/50.jpg)
ALL OR NOTHING
![Page 51: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/51.jpg)
Perks &
Rewards
![Page 52: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/52.jpg)
Updates (and Blogging)
![Page 53: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/53.jpg)
Updates (and Blogging)
![Page 54: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/54.jpg)
Comments & Engagement
![Page 55: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/55.jpg)
Source: http://KickstartersHQ.com
![Page 56: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/56.jpg)
WHY … Do people Crowdfund?
![Page 57: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/57.jpg)
![Page 58: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/58.jpg)
Lessons from Ethan Mollick’s “The Dynamics of Crowdfunding: Determinants of Success and Failure”
![Page 59: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/59.jpg)
3 Why’s: 1. They connect to the greater purpose of the campaign
2. They connect to a physical aspect of the campaign like the rewards
3. They connect to the creative display of the campaign’s presentation
three main reasons why
people unconnected to a
project or business would
support it:
What Is Crowdfunding And How Does It Benefit The Economy - Forbes
http://www.forbes.com/sites/tanyaprive/2012/11/27/what-is-crowdfunding-and-how-does-it-benefit-the-economy
![Page 60: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/60.jpg)
The Real (Crowdfunding)
Why’s
• Passion
– For the technology
– For the industry
– For the cause
– For the product
• Affinity
– For the Entrepreneur
– For the region, industry etc
• Connection
• Every reason BUT R.O.I. …
![Page 61: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/61.jpg)
emotional ROI. Not financial ROI
WYNTK (what you need to know)
Crowdfunding is about …
![Page 62: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/62.jpg)
(when crowdfunding …)
“its not what you do, but why you do it,”
WYNTK (what you need to know)
![Page 63: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/63.jpg)
http://www.kickstarter.com/projects/1104350651/tiktok-lunatik-
multi-touch-watch-kits
![Page 64: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/64.jpg)
![Page 65: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/65.jpg)
http://trendwatching.com/trends/infographics/presumers/
“Consumers who want products before they are developed”
Pre-orders
Early adopters
Supporters
![Page 66: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/66.jpg)
UH OH … The Kickstart Model..
![Page 67: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/67.jpg)
![Page 68: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/68.jpg)
![Page 69: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/69.jpg)
1. Crowdfunding = New “1st Money” for ventures ($10k - $50k average– but wild exceptions)
2. Equity Crowdfunding is Still Far away
3. Rewards based Model IS Crowdfunding today
4. All or Nothing Crowdfunding – Standard
5. Perks and Rewards: Pre-order Crowdfunding
6. Social Media & Content Intensive
www.propelarizona.com
WYNTK (what you need to know)
![Page 70: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/70.jpg)
What does success
look like?
![Page 71: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/71.jpg)
• The iPhone-friendly Pebble watch earned $7.6 million more than its $100,000 goal.
• And the Galileo iPhone platform closed its Kickstarter campaign at $702,000, far surpassing its $100,000 goal.
![Page 72: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/72.jpg)
• Ouya raised $2 million in one day for a new Android gaming console (it’s raised more than $5 million to date),
• the Nifty MiniDrive, external memory for Apple MacBooks. The tiny storage company is more than 2,000% above its $11,000 goal with 15 days left in the campaign.
![Page 73: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/73.jpg)
What do successful
campaigns have in
common?
![Page 74: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/74.jpg)
http://www.kickstarter.com/projects/hop/ele
vation-dock-the-best-dock-for-iphone
![Page 75: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/75.jpg)
Projectio
http://www.kickstarter.com/projects/1209578799/projecteo-the-tiny-instagram-projector
![Page 76: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/76.jpg)
http://www.kickstarter.com/projects/mikebond/ti2-sentinel-titanium-cache?ref=home_popular
![Page 77: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/77.jpg)
http://www.kickstarter.com/projects/poots/kingdom-death-
monster?ref=home_popular
![Page 78: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/78.jpg)
http://www.kickstarter.com/projects/smartthings/smartthings-make-your-
world-smarter?ref=category
![Page 79: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/79.jpg)
http://www.kickstarter.com/projects/thejumpshot/jumpshot-a-new-weapon-to-
battle-pc-frustration?ref=category
![Page 80: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/80.jpg)
http://trendwatching.com/trends/infographics/presumers/
![Page 81: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/81.jpg)
Successful campaigns took an average 11 days preparing for their launch.
http://blog.indiegogo.com/2013/01/12-insights-for-2012.html
![Page 82: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/82.jpg)
Campaigns ran an average 49 days in 2012, as opposed to 60 in 2011.
Successful campaigns fundraised for 39 days.
![Page 83: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/83.jpg)
Crowdfunding Myths & Mistakes
• Myth #1: If You Build It, They Will Come
• Myth #2: Cash is Free
• Making it about you
• Unrealistic Expectations
• Lack of clarity
• No call to action
• Expecting to be found: (No Marketing)
• Ignoring Small Donations/Donors
http://kickstartershq.com/articles/5-project-crushing-kickstarter-mistakes-how-to-avoid-them
http://www.crowdsourcing.org/document/3-big-crowdfunding-myths-via-funderhut/23804
![Page 84: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/84.jpg)
www.propelarizona.com
WYNTK (what you need to know)
Successful Crowdfunding
Campaigns Focus on
The new 4 P’s …
the
1. the
2. the
4. the
3.
![Page 85: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/85.jpg)
focus on “them” –
not your company
WHO are they?
What motivates them?
Interests, Values …
the
1. The new 4 P’s of
Crowdfunding ..
www.propelarizona.com
the
2. You are pitching to “them”
TELL A STORY !!
WHY is more important than $$
VIDEO(s) & VISUAL(s)
Tell the story in small ‘chapters’
VIDEO(s) & VISUAL(s)
And even smaller “sound bites”
Give them a Story they
can tell to others.
the
3. $$ Value is a negative driver !
UNIQUE
It’s about THEM
EXCLUSIVE
And what is important to “Them”
FIRST
Make sure it is …
BUZZWORTHY
the
4. It’s a daily/hourly effort …
SOCIAL MEDIA
It’s a conversation …
UPDATES, BLOGS, NEWS
Provide Value, and Talking Points
RE-POST, TWEETable
It’s about … for their network
VALIDATION & EVIDENCE
![Page 86: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/86.jpg)
Crafting a
Successful
Crowdfunding Campaign
![Page 87: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/87.jpg)
Some initial rules ….
![Page 88: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/88.jpg)
1. Crowdfunding takes work, new skills.
2. It takes a strategy, and preparation.
3. The rules are different.
4. You can’t just post and run …
5. It’s a public success or failure – that “stays on your resume”
www.propelarizona.com
WYNTK (what you need to know)
![Page 89: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/89.jpg)
Components
of a
Crowdfunding Campaign
![Page 90: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/90.jpg)
Title & Short Description • (repeatable & compelling)
Long Description (“The Pitch”) • Make it a story … about “them”
Visuals: Video, Photos, Images
Team, Deliverables, Details
Perks & rewards
Funding Goals: Amount and Timeframe
Updates & SOCIAL MEDIA CAMPAIGN • Repeatable Messages
• Daily “routine”
• Traditional marketing too
![Page 91: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/91.jpg)
Crafting the “Pitch”
![Page 92: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/92.jpg)
First: Who What Why When …
• The 3 Who’s:
– Who are the donors? (affinity & passion)
– Who is benefits? (the market)
– Who are you?
• The 3 Why’s
– Why would your donors care?
– Why does the market care?
– Why are you the right team to do it?
![Page 93: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/93.jpg)
First: Who What Why When …
• What is your project & goal?
– Understandable & Simple
– Compelling & Intriguing
– Repeatable & Memorable
• How and When
– How will you achieve your goal? Realistic?
– When, after funding? When will I get my perks?
![Page 94: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/94.jpg)
Other Tips
• Tell a story
• Make it about them
• The History of the idea is intriguing
• What is the Impact? – why is this important?
• Try a FAQ
• Call to action – get them involved!
![Page 95: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/95.jpg)
Exercise –
Craft the Pitch
![Page 96: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/96.jpg)
Crafting your Pitch Title & Short Description
•(repeatable & compelling)
Long Description (“The Pitch”) •Make it a story … about “them”
Visuals: Video, Photos, Images Team, Deliverables, Details Perks & rewards Funding Goals: Amount and Timeframe Updates & SOCIAL MEDIA CAMPAIGN
•Repeatable Messages •Daily “routine” •Traditional marketing too
Tell a story Make it about them The History of the idea is intriguing What is the Impact? Why is this important? Try a FAQ Call to action – get them involved!
The 3 Who’s: Who are the donors? (affinity & passion) Who is benefits? (the market) Who are you?
The 3 Why’s Why would your donors care? Why does the market care? Why are you the right team to do it?
What is your project & goal? Understandable & Simple Compelling & Intriguing Repeatable & Memorable
How and When How will you achieve your goal? Realistic? When, after funding? When will I get my perks?
![Page 97: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/97.jpg)
Pitch Notes - 1
• Who (donors, market)
• “Why” – the story
• Impact (on the market)
• Impact (on the donors)
![Page 98: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/98.jpg)
Pitch Notes - 2
• Story, and History …
• FAQ
• Perk Ideas (what’s important to donors)
• Calls to Action
![Page 99: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/99.jpg)
Visuals
![Page 100: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/100.jpg)
The Importance of Visual Media
• 64% of successful campaigns in had pitch videos.
• Campaigns with videos under 5 minutes were 25% more likely to reach their goal than those with videos that were longer.
• Average campaign video length for campaigns was 3 min, 27 seconds. Campaigns that reach their goal are 16 seconds shorter.
• On average, successful campaigns uploaded 6 media to their gallery.
• http://blog.indiegogo.com/2013/01/12-insights-for-2012.html
![Page 101: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/101.jpg)
Perks & Rewards
![Page 102: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/102.jpg)
![Page 103: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/103.jpg)
Directed by
Patrick Million
Executive Producer
CJ Cornell
a Patrick Million FILM
American Grandmaster
![Page 104: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/104.jpg)
Rewards Crowdfunding
• Incentives & perks
• Pre-Orders
• Pre-Sumers
• Market Validation
![Page 105: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/105.jpg)
![Page 106: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/106.jpg)
Rewards don’t have to worth $$
![Page 107: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/107.jpg)
![Page 108: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/108.jpg)
• $25 perk is the single most claimed perk, representing nearly 25% of all perks that are selected.
• While the $25 dollar perk is only responsible for raising 11% of total funds.
![Page 109: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/109.jpg)
• $100 perks raise more money than any other perk price and make up nearly 30% of total funds. A $100 perk combined with the next three perk price points: $50, $500, and $1000 makes up about 70% of total money raised by perks
![Page 110: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/110.jpg)
![Page 111: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/111.jpg)
some
Rules for Rewards
![Page 112: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/112.jpg)
1. Make perks unique &
exclusive
Avoid T-shirts, Mugs & Hugs
![Page 113: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/113.jpg)
2. Target them
![Page 114: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/114.jpg)
3. Give them a
connection
![Page 115: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/115.jpg)
“The
Cocktail Party
Effect”
![Page 116: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/116.jpg)
“The
Restaurant
Effect”
![Page 117: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/117.jpg)
“The
Carey School
Effect”
![Page 118: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/118.jpg)
The less tangible the perk,
the more public (visible) &
EXCLUSIVE it needs to be.
![Page 119: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/119.jpg)
![Page 120: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/120.jpg)
![Page 121: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/121.jpg)
The Campaign
![Page 122: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/122.jpg)
How much $$ ?
How long?
![Page 123: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/123.jpg)
Discussion
• How much should we raise?
– Have you raised money before? Return?
– Do you/did you work at a highly visible position?
– *** Your social network? Large? Followers?
– Idea - big market? How unique?
– How much (marketing) work will you do?
![Page 124: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/124.jpg)
HOW to Crowdfund?
PUSH - Running the campaign • Social Media
• Comments & Updates
• Networking
• Personal Pitches
![Page 125: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/125.jpg)
Your mission: To get
them talking about
your project
![Page 126: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/126.jpg)
Now that you’ve launched …
Continue the story
![Page 127: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/127.jpg)
Social Engagement – Transparency & Trust
– Social Proof & Viral FX
– Engagement & “The Fundamentals”
– Blogging
![Page 128: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/128.jpg)
most successful projects receive about 25-40% of their revenue from their first, second and third degree of connections.
This could include friends, family, work acquaintances, or anyone that the owner is connected to.
• http://www.forbes.com/sites/tanyaprive/2012/11/27/what-is-crowdfunding-and-how-does-it-benefit-the-economy/
![Page 129: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/129.jpg)
1. Create: (of course)
- A Facebook Account
- A Twitter Account
(for your campaign)
![Page 130: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/130.jpg)
2. Tweet & Post
–Frequently
–Uniquely
–Personally
![Page 131: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/131.jpg)
3. Post Updates & Blog
•About your progress
•About the subject
•About the industry
•About the People
![Page 132: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/132.jpg)
4. Go 1-1
•Reply to comments
•Retweet/Repost
Your fans and donors are your most
powerful advocates!
![Page 133: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/133.jpg)
5. Target, Measure & Adjust •Different Messages for different groups
•Google, Hootsuite, others
•Learn and Adjust focus
![Page 134: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/134.jpg)
Metrics
http://www.perlsteinlab.com/blog/anatomy-of-a-crowdfund-week-3-slow-and-steady
![Page 135: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/135.jpg)
Metrics
http://www.perlsteinlab.com/blog/anatomy-of-a-crowdfund-week-3-slow-and-steady
![Page 136: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/136.jpg)
the importance of google analytics to track and improve performance
• + perks from fivvr
•
• http://www.perlsteinlab.com/blog/anatomy-of-a-crowdfund-week-3-slow-and-steady
![Page 137: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/137.jpg)
Campaign Checklist Social Media
Create a schedule 2-5x / week Use an automated tool
Eg Hootsuite Post interesting info –
Not just pleas for money Not just updates
Vary your targets Call to action 1/3-1/2 time
Use analytics and other metrics
Traditional Marketing Pitch Events Press Releases Demos Testamonials Use an automated tool
What to Communicate: 1. Your Progress 2. Successes, Evidence of success 3. Ammunition for your supporters 4. Industry Info, Factoids 5. People Info
Plan, Schedule & Update
Your Social Network is a Force Multiplier – but you have to give them help.
![Page 138: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/138.jpg)
Success Factors
![Page 139: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/139.jpg)
htt
p:/
/on
line
.wsj.co
m/a
rtic
le/S
B1
00008
72396
3904
43855
80457
76010
13094
0
84
43
8.h
tml?
mod
=goo
gle
new
s_
wsj#
art
icle
Ta
bs%
3D
art
icle
![Page 140: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/140.jpg)
http://www.indiegogo.com/blog/2012/05/indiegogo-insight-campaigns-that-take-these-six-actions-raise-8-times-more-
money-than-campaigns-that-dont.html
![Page 141: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/141.jpg)
http://www.indiegogo.com/blog/2012/05/indiegogo-insight-campaigns-that-take-these-six-actions-raise-8-times-more-
money-than-campaigns-that-dont.html
![Page 142: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/142.jpg)
http://www.indiegogo.com/blog/2012/07/indiegogo-insight-winning-the-middle-game.html
![Page 143: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/143.jpg)
successful campaigns raise, on average, 49% percent of their goals during the first and
last 10% of the campaign length.
![Page 144: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/144.jpg)
The most important
secret is …
![Page 145: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/145.jpg)
Showing Momentum
(the perception of momentum)
![Page 146: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/146.jpg)
The most obvious
secret is …
![Page 147: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/147.jpg)
Credibility
= trust, competence
& follow-through
![Page 148: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/148.jpg)
![Page 149: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/149.jpg)
![Page 150: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/150.jpg)
days
Crowdfunding is measured in …
![Page 151: Cogswell College - Handson Crowdfunding Workshop - March 29](https://reader033.fdocuments.us/reader033/viewer/2022051412/54c849524a79597b238b460d/html5/thumbnails/151.jpg)