While entrepreneurs once depended on banks and investors for startup capital, the internet has opened a new option: crowdfunding. At its core, crowdfunding is the act of soliciting multiple small contributions from the public instead of one large one from a traditional lender.
As business owners around the globe turn to crowdfunding for their financial needs, the competition for contributions is fierce. Thankfully, a company called InventureX has specialized in helping entrepreneurs achieve their dreams through successful crowdfunding campaigns since 2012. Here is our complete InventureX review, but first let’s start off with the do’s and don’ts of crowdfunding.
The Do’s and Don’ts of Crowdfunding
If you want a successful crowdfunding campaign, there are certain things you should and should not do no matter what type of company you have. First, you need to pick the right crowdfunding platform. Kickstarter is the most established option with a large user base, but the competition is stiffer there. Other platforms such as IndieGoGo have enough users to fund you as well, making them a better choice in certain circumstances.
You also need to market your campaign aggressively so that potential contributors know what you’re doing. It’s best to start before you’re actively seeking funds as it makes your pitch more natural. Once your campaign is live, expect to live online so that you can interact with potential donors. Consumers are always more likely to choose a brand they associate a face with, so reach out and forge a connection!
The “don’ts” of crowdfunding are fairly straightforward. For instance, you don’t want to set the wrong fundraising target. Shoot too high, and you won’t be able to keep anything you raise. Aim too low, and you won’t actually have enough to launch your concept. It’s a balancing act that you have to get just right.
You also can’t make a crowdfunding profile and expect money to come pouring in. You need a solid business plan to show backers what their money will go towards, an incentive structure that inspires contributions, and a solid marketing plan to expand your outreach. If you need some help with this step, contact InventureX today!
The InventureX Difference
InventureX advises you through every stage of your crowdfunding campaign, from helping you generate a pre-campaign buzz to get potential backers excited about your idea to placing targeted Facebook ads to get your name out there. They can also manage your online interactions and even help you create a comprehensive business plan, taking much of the uncertainty out of the process.
InventureX also has the skills to fill in any gaps you leave behind. For example, they can help you shoot an engaging video to give backers a visual on what your idea can do for them. They can also leverage their extensive crowdfunding experience to design an ideal incentive structure for your idea that encourages large contributions without compromising smaller ones. InventureX’s 86 percent crowdfunding campaign success rate is the best in the business, so you can rest assured that they know what they are doing.
InventureX’s Past Successes
InventureX has successfully funded hundreds of ideas, including raising over $500,000 for the Peachy Printer, the first truly affordable 3D printer ever. Their website also has a testimonials page detailing how easy they are to work with, making them a great fit for any crowdfunding project!
Start Crowdfunding Today
If you’re interested in using InventureX to jump start your own crowdfunding campaign, you can visit the company online at InventureX.com to schedule a no-obligation phone consultation. You can also follow the company’s blog and social media accounts to learn the latest tips straight from the industry experts!