LESSONS IN CROWDFUNDING

I’ve crowdfunded for the past 11 years on various projects. Although I’ve gained invaluable experience, it doesn’t make the load any lighter. But the lessons learned have been the most valuable part of the process.

Crowdfunding is simply as it sounds… funding by a crowd. A crowdfunder would typically create a list of potential supporters prior to the launch date. It’s crucial to make everyone aware at least 30 days prior to the launch date. It not only helps to create awareness but also builds excitement. I typically separate my list (spreadsheet) into categories. For example, personal, professional, educational, etc.

Question: If you created a spreadsheet, who would be at the top of your personal list?

I’m guessing family and friends, right? I mean, why wouldn’t you put them first? Shouldn’t they be the first to support your endeavors?

For those of you who have this type of support, consider yourself blessed. For the rest of us, unfortunately, family and friends aren’t always the first to support.

This brings back memories of my days in network marketing. I swore the people closest to me would join me on my journey or at least buy what I was selling at the time (natural home and body products). Well, what a hard hit of reality when I came to the realization that my assumption was completely wrong. I didn’t know it then, but the lessons I learned at that time prepared me for the rest of my life.

Similar to network marketing, crowdfunding isn’t so simple. It’s actually one of the most difficult experiences in business. I’ve come to learn who my true friends and family are. I’ve developed a tough shell and have also learned that persistence and consistency pay off.

Read more on my blog.