3 Sources Of Valuable Pieces Of Advice On Crowdfunding

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One way project initiators increase their chances of crowdfunding success is to conduct an intensive research on their product and market before they launch a campaign. And part of this process is sourcing out valuable pieces of advice they can use to help to guide them as they move forward with their project and raise the funds that they need.

But it is not easy to get hold of these nuggets of wisdom because there are either too many coming in or too few because you do not know where to get them. There are a lot of unsolicited pieces of advice people give out as soon as they know that you are managing a project. This is hard because you then have a lot of comments on hand.

Filtering out what works is another task that is easier said than done especially when you have too many. You run the risk of basing some important project decisions on misinformation because you were not able to filter out those that made sense from the ones given out by people who do not even have experience with the industry.

Where to get crowdfunding advice

As you move forward with your crowdfunding plans, here are a few places you can get valuable pieces of advice from which can be useful for your project.

  • Family and friends. These people want nothing but the best for you and to see you succeed. They love that they do not want you going astray. They will always try to give you the best possible advice and your best friends will always say it the way they see it. They will not sugarcoat any potential problems and give you a runaround on what you are doing wrong. They can be honest and brutal at times which you will need because you would rather have that that people telling you what you want to hear not what you need to know. 
  • Successful project initiators. Look to those that were successful in their own journey and try to reach out to them to see if they can give you any advice with your own project. You will not have the same project but might be in the same industry. You might even be eyeing the same pool of target customers and their advice could be golden. You might learn a thing or two on how they managed their projects and solved problems they encountered along the way. It can help to guide you when you encounter the same hurdles with your own campaign. 
  • Target market themselves. You are doing all these research and survey to help you increase your chances of getting funded by your market. With that in mind, the same people would be your best source of inputs on how to go about your campaign. You might pick up some product functionality that you overlooked but is actually very important for your customers. Try to figure out a way to get some insights from the same people you want to service to help improve your project.

Crowdfunding is an exciting way of raising funds for your campaign and valuable pieces of advice can be great as you navigate your way to your goal. You just need to remember that at the end of the day, you are still in control and you need to pattern your decisions based on your need and not what other people say.

Refer a friend via CAT Referral Program at s.coassets.com/t54 where you get to earn 500 CoAssets Tokens (CAT) for every new member referred. Stay tuned to this channel as we will be updating you on the next upcoming CAT campaign! 

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This article is written by the Crowdfunders Editorial Team. In Asia, Crowdfunders.Asia is a leading portal on providing news related to crowdfunding, start-up, property and business. It is operated by CoAssets.com. CoAssets is South East Asia’s first listed and largest real estate crowdfunding platform. If you have any Crowdfunding news or stories to share, please email [email protected]

 

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