How to Build A Successful Crowdfunding Campaign

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Crowdfunding is an excellent way to grab attention and support from likeminded innovators just like yourself. There are many reasons to launch a crowdfunding campaign, but the two main reasons that come to mind are: To prove a concept or idea, and/or to generate revenue in order to create said concept or idea. You may be thinking though, "how exactly do I launch a crowdfunding campaign?" Wonder no more! Provided below are 4 phases to follow when launching a successful campaign:

Phase One: The Idea Phase

No matter the size of your project, it will always start with a simple idea. With that said, this phase is the most important of all the phases because it builds the foundation of your entire project. One wrong step, and your launch could be a complete flop, so make sure you give your idea the special attention it deserves. 

In order to do that, try following these four steps:

  1. Decide what it is you want to create
  2. Talk to others about your idea
  3. Become Crystal Clear on your goal
  4. Get some type of proof of the concept

Phase Two: The Brainstorming and Planning Phase

The brainstorming phase is pretty simple, but it takes some time, effort, and well, your brain. During this phase you will do a lot of brain dumping.

The best way start is by following these three steps:

  1. Just start writing— write out any and every step you know and might think you need to take in order to make your idea a success. 
  2. Research— take some time and research competing ideas and see how those launches became successful. It's also good to figure out the cost range for your product, as well as where you can source the materials required to produce the product. 
  3. Ask others— don't be afraid to reach out to others who have already been where you want to go. 

Phase Three: The Planning Process

The core of everything you do for your product and campaign is your project plan. It includes individual deliverables, dependencies, and deadlines that will help you reach your goal on time. You should also use this time to figure out what your budget will be for your project. This is the phase you will take what you gained from brainstorming and lay it all out in front of you so you can have a concrete game plan that will propel you forward through the rest of your project. 

Phase Four: The Hiring Phase

This is the phase of delegation! You will finally get to step into the role as project manager and delegate tasks to members on your team. 

As project manager you will be responsible for:

  1. Identifying what you want and/or need to delegate
  2. Reaching out to people you know or have been referred to for help
  3. Setting expectations with your team so everyone is on the same page

It is important to keep in mind that not everything goes as planned. New steps may arise along the way that you did not anticipate, so be prepared to be flexible and quick to act if a new team member is needed. 

This phase is an exciting one. Once you have your team on board, you're ready to go full throttle! 

Story By: Hannah Bagley