Yesterday,
we talked about crowdfunding,
the sourcing of small dollar amounts
from a large number of people,
usually through the internet.
As with any financing,
entrepreneurs should have,
at least, a rough business plan in place.
The pitch is usually done
via video.
The copy should be tight.
And as Gord Woodward,
in the
September/October
The Costco Connection
shares
“It’s a matter of marketing.
Word has to be spread.
Your circle of contacts has to be tapped
(experts suggest 25 to 30 percent
of the goal has to come
from people you know).
And you must be prepared
to answer questions
and provide more information
to potential donors.”
Each site usually has its requirements
and, as always,
it is recommended that you study
the pitches of successful projects
on these sites.
Do your research
before you ask for funds.