With #CrowdFundSTL on June 3, moderator Travis Sheridan shares three tactics for crowdfunders
Guest Blog By Travis Sheridan
Image courtesy of PBS.org
Dreamers get all the press. They create amazing renderings, flashy PowerPoint decks, engaging videos full of promises, and a vision that is contagious. They know how to sell an idea. They often fail at implementation.
Doers are pretty quiet. They aren’t media darlings. They seek manageable projects that have a clear impact. Maybe they have a limited vision, but they are willing to trade that for clear action. They often fail at inspiration.
Crowdfunding requires a balance of the two personalities. The best approach is to find a way to establish yourself as a Doer who has the ability to turn dreams into reality. Be a Dreamer who wakes up ready to put in the work.
Tactic #1: Small Wins
If this is a new approach for you, start small and establish credibility. Find a way to do something awesome for less than $1,000. Make it visible and engaging. You will build a track record of success and people will be more willing to “invest” in your next project.
Tactic #2: Transparency
People love process. They love a behind the scenes look at a journey. Take them along for the ride. Share frustrations and success. Say “Thank you” and “I’m sorry” whenever necessary. Be honest about timelines and set realistic deliverables.
Tactic #3: Updates and Impact
Close the loop with your backers and supporters. If it is a product launch, let them know how they helped propel the business. If it is a social good type of effort, talk about the big picture impact the project made.
Crowdfunding is a great way to increase awareness and early adoption of a brand or product, but it is also a way to cause early damage. People hate dreams that become nightmares. However, people love folks who are good at getting shit done. Be a Doer, not a Dreamer.