Aspiring entrepreneurs can learn so much from crowdfunding success stories. Taking advantage of websites like Kickstarter puts your brilliance on virtual display for a whole host of future customers. But if you want to command major bucks for your company, carefully consider the forthcoming pieces of advice. Incorporating them into your pitch will make your idea that much more investment-worthy and ultimately help you meet your fundraising goal.
1. The Elevator Pitch – If you can’t sell your idea during an elevator ride, LEARN HOW TO DO IT. Embrace the art of writing an elevator speech and then memorize it. Practice it in front of a mirror. Think about a tweet. You get 140 characters to make someone decide to favorite or retweet your thought. Same concept applies here. Two sentences, thirty seconds – compress that story and sell the heck out of it before your target audience loses interest. You have one shot to captivate them. Don’t mess up.
2. Swear Partners To Secrecy? – Not if you want to heighten awareness of your product or service. Pre-launch is super-important because you want to have your “street team” already assembled and evangelizing your offering. Get the word out by leveraging your network, which will best position you for a big splash. Don’t be afraid of someone stealing your idea. Chances are pretty good nobody will run with it and beat you to the punch.
3. Plan For Delays – Challenges often crop up when planning for a product or service release. Best case, you launch on your scheduled date. But always have a contingency plan in place as backup, as well as a communication ready for all the folks eagerly awaiting your launch. You want to keep them personally invested.
4. Just Give Me A Reason – The product is supremely important to prospective investors BUT the story should never be overlooked. To sell a product, you need to establish a reason WHY someone should buy. Use the story to create the perception of need and watch it drive the demand.
What other pearls of wisdom can any of you successful crowdfunders share??