The other day, me and my best friend Keith were discussing as how a business can be benefited by attending a crowdfunding event at my place. Keith approached me with this question because he thinks that he will surely get a detailed reply from me and he knew the fact that I am very good at explaining this (believe me I am). I started sharing my bit of knowledge with him by telling him that the concept of crowdfunding is growing by leaps and bounds and at this moment both consumers & businesses are very much enlightened about this platform.
From independent movie projects on Indiegogo to path-breaking gear on Kickstarter; entrepreneurs make the most of these services in order to ascertain the interest of the consumers and gain the funds they require to initiate manufacturing process.
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I informed Keith that in 2014, crowdfunding witnessed a rise of 165 percent where the sites managed to generate funds worth $16 billion. Of late, increasing the number of entrepreneurs are considering crowdfunding as the way of initiating a fresh product, but the entrepreneurs tend to face a perplexed situation where they are not aware of where to kick off the things. Owing to this, the country has been witnessing varied crowdfunding events taking place which has really helped the professionals to become more aware of the options available to them. At this moment, I managed to glue Keith in the conversation and he showed a keen interest in knowing varied ways through which crowdfunding can be of great assistance. Therefore I started my narration
Attending a Crowdfunding Event? 6 Ways to Boost Your Business
1). Staying abreast of the latest trends
I told Keith that it is imperative to stay in touch with the latest trends. This is where crowdfunding event come into the picture where the experts get an opportunity to share what is new. Such sharing can help the entrepreneurs to make their strategies more effective. If a plan is not proving beneficial, the attendees get an opportunity to know what must have gone wrong during these sessions. I added that if one product is made in a way to be functional on one platform as compared to another, an entrepreneur might be enlightened about it via such conferences. This will also help in making new strategies that can prove beneficial.2). Knowing your funding choices in and out
If you are looking for a way through which you can kickstart your business, crowdfunding is the one. You make yourself aware of different scholarship and loan opportunities, along with having a better comprehension of how actually the crowdfunding operates.
3). Planning related to share markets
Seeing that the crowdfunding has become a preferred method of launching a project, its lessons have crossed the border of just launching and growth of the business. Even an entrepreneur who is on the brink of using crowdfunding can be benefited from the marketing lessons at such events. I asked Keith whether he is interested in a cup of coffee or a beer for which his reply was negative. I continued after assuring myself that he is getting what I am sharing.
4). Personal conversation with the investors
It is not mandatory that every crowdfunding event will only draw the business owners, but all those investors for whom the future of these sites bears great importance as well.
They often show themselves to share their knowledge and getting acquainted with the fresh products.
When you become a part of such crowdfunding event, you get to meet all those investors who have seen it all and there are strong chances that your products also get pitched. This also offers an advantage for the upcoming campaigns.
5). Stay acquainted with the regulations
Lawmakers show real interest in the crowdfunding and keep proposing measures that could influence all those businesses using such services. You also get to learn new legislation that can have a direct effect on such platforms and stay prepared if new laws are being framed.
6). Be inspired by the achievements
By now, crowdfunding has generated various success stories to its credit. There are so many success stories where the businesses have reached a stage where they can call themselves successful and they really owe to the funding campaigns. Different crowdfunding events prove helpful in providing exposure to the attendees to build a network with all those professionals who have already hosted campaigns on these sites in the past. You can make the most of having personal interaction and can gain helpful tips with these professionals, such interactions can make a significant difference to the campaigns whenever they are being launched. Most importantly, these conferences really help in bring out the best success stories in the context of crowdfunding.
Trust me when I finished off, Keith was staring me with that questionable look, on his face, as how in the world I am having so much information about ‘crowdfunding’. I ended up saying that with the surging popularity of crowdfunding, such industry events will prove a boon for all those business owners who are new to the niche.
Ellie White is a writer by profession. She has a knack for coming up with novel ideas. She currently writes for Crowdfunding. She contributes ideas to guide upcoming/established businesses take giant leaps in the competitive market. She has also worked for scores of magazines, writing exciting content on topics such as Sales and Marketing. She proudly serves as an advisor to start-ups.