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Categories:

Funding & Financials

February 28, 2014

Thinking Of CrowdFunding Your Small Business? It’s Harder Than It Looks

crowd fundingWe’ve talked about crowdfunding a fair amount on this site as it is often the only realistic option for small food entrepreneurs outside of self-funding or approaching friends and family (and let’s be honest, crowdfunding is also approaching friends and family!).  With bank loans to small businesses in short supply and angel investment in the food world hard to come by for start-ups, crowdfunding may be your only option.  But if you’re going to go that route – be prepared!In one of our most popular crowdfunding posts titled Insider Tips On How To Start A Successful Crowdfunding Project, Karl Mueller shared his insights into how his crowdfunding project raised almost $25,000.  An internet marketer by trade, Karl approached this project from the internet marketers standpoint and not that of an entrepreneur and that’s one of the reasons, he believes, his project was successful.

A recent Wall Street Journal article looks at crowdfunding in much the same way.  During the course of their interviews with entrepreneurs whose campaigns had succeeded and failed, the overarching theme that emerged was that you have to be strategic in your crowdfunding attempts.  It takes much  more than simply putting up a video and tagging on some ‘rewards’ before you can expect to see donations come rolling in.

If you’re thinking a crowdfunding project might be in your business future, be sure to check out both Karl Mueller’s interview and the Wall Street Journal article as well as these other crowdfunding articles on Small Food Business:

If you’ve done a crowdfunding campaign, I’d love to hear your thoughts and feedback on what can make or break a good project.

Unfortunately Small Food Business is not able to promote individual company’s Kickstarter campaigns either on this site or via our social media pages.  As much as we wish you well when it comes to crowdfunding, if we did that it would be the only thing ever featured due to the number of requests we get and that would make for a very boring site for all our other readers.

 

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