Blog 3#- Crowdfunding is revolutionary for startups

Crowdfunding is an incredible tool and resource. Many large, upfront costs such as tooling, NCC wireless certification, COGS, ect stand in the way of bringing a vision to life. Democratizing the fundraising process lets you connect with your audience, build a community of early adopters, listen and incorporate feedback, and offer a truly unique and first-of-its-kind product to the market.

Idea Validation

Too often, people build things for themselves. While it’s incredibly rewarding to produce something you want and desire out of your own will and creativity, it’s not the best strategy for entrepreneurs. You are working for someone else, building a product for your target market. What is important to them? Where do they experience ‘pain points’ and are those discomforts worth trading their hard earned money to relieve? Are the benefits, benefits, bells and whistles representing something of value to them? Or have you been caught in a common trap- not iterating your product (or offer) in response to demand? These are hard questions that you face when advancing through your journey?

Fundraising

While raising money is a massive benefit to a scrappy, bootstrapped innovator, there are other reasons why it’s important, both to founders and their community, or backers. Early adopters don’t just want something off the shelf, they want to know they are listening to their words and have consequences. They want to buy into something, and enjoy knowing they have a stake in things, or ‘skin in the game.’ We often listen to and defer to the corporations and institutions, but with crowdfunding you get in at the ground level, helping guide the process. With crowdfunding, you are heard.

Building a Community of Early Adopters

Beyond raising money, crowdfunding platforms provide the space and opportunity to grow a community of early adopters. Backers not only contribute funds, but can also become your brand ambassadors, spreading your vision to the world. They provide invaluable feedback that allows you to tailor your product to their needs and desires. As they join you down this path, they forge a sense of ownership in the startup’s success. This early stage engagement leads the way for long-term brand loyalty and grassroots, word of mouth marketing.

Do you have a vision? Are you a prospective startup? Crowdfunding may be for you. The important thing is to take the first step and start building momentum. Validate your concept, raise funds, and build a community of passionate supporters by utilizing a platform to empower entrepreneurs like you.

Inspired to see what’s possible? Curious how we are managing this challenging journey? Like and follow our page to see how we are navigating the crowdfunding world!