Crowdfunding has been in the news since its inception a few years ago. This concept of allowing regular consumers to contribute to the financing of a startup has excited millions of inventors, entertainers and entrepreneurs. However, for many reasons, it has not turned out to be the simple solution that many expected.
The biggest obstacle, of course, is having the right idea and knowing how to prepare it to go to market. Not all inventors or entrepreneurs know how to start or run a business. Therefore, it is not surprising that many applications for crowdfunding are rejected.
Of those accepted, there is another great obstacle to cross. Calculating a funding figure can be tricky. It should be high enough to achieve the projected goals and low enough to ensure that they are achieved. Because until the arrival of YouveGotFunds.com, all donations are returned if the financial goal is not reached. Time is wasted and unnecessary disappointment is experienced.
YouveGotFunds.com was launched to meet the genuine market demands of startups and has made the process much easier to use.
An example: An off-Broadway producer was trying to raise funds through Kickstarter, a well-known crowdfunding site, and was only able to raise $ 10,000 against the goal of $ 1 million. None of the donations were allowed to be saved and a couple of months were wasted.
That same producer went to YouveGotFunds.com and received help developing achievable goals, marketing plans and is on track to achieve his funding and vision.
The founders of this new and unique crowdfunding vehicle are a husband and wife team, David and Ellen Sperling, who bring more than one good idea to the world of online financing options.
Faleris: What about your experience inspired you to open a crowdfunding site?
Sperling: As former business owners serving other small businesses and entrepreneurs, we were acutely aware of how many business owners are struggling to raise capital. Not all companies are prepared or have the opportunity to meet with venture capitalists. When we were researching different startups, we were intrigued by crowdfunding and how it could be a great option for people looking to raise funds.
Faleris: Are you doing it the same way as Kickstarter and the others?
Sperling: We are a rewards based crowdfunding site that is the same as Kickstarter, but we are different and we offer more benefits for YouveGotFunds participants.
Faleris: What makes your program different?
Sperling: We believe in Save it all philosophy. With Kickstarter and most others, if you don’t reach your funding goal, you walk away with nothing or have to pay extra fees. Not only is it a waste of time (which is precious when you’re starting out), it can take a toll on your credibility. So we have changed that.
At YouveGotFunds, participants can keep everything they raise even if they don’t reach the goal (minus our 5% fee and fees incurred by PayPal). We want every YouveGotFunds customer to be a winner so they can keep what they raise; This money will not only help them in the first phase of their project, initiative or business, but it is much easier to generate funds offline when you have demonstrated your attractiveness online through crowdfunding donations.
Along with the marketing efforts planned by the participants, YouveGotFunds will also promote projects using an advertiser for some, and a strong social media reach for most others. We also offer additional start-up services through our fund connection.
Faleris: What are you doing to market the service?
Sperling: Since the launch and after receiving very positive feedback on the differences in our business model, we have gained a lot of word of mouth. We have a large presence on the Internet and through social networks. Between our conference events, blog, ezine, advertising program, and networking events, YouveGotFunds is generating a lot of excitement and quite a few new clients from referrals.
Faleris: What is your advice for those who want to start a Crowdfunding campaign?
Sperling: It is important that before starting a Crowdfunding campaign, participants take the time to plan a smart strategy. Write a business plan, network, determine how to tell the story through pictures and videos, and decide on a realistic financial goal.
Faleris: Husband and wife teams can be precarious. Have you worked together before?
Sperling: We have previously worked together at various points of sale. We like to work as a team as we share the same goals. Ellen focuses on social media marketing and website content development. David handles the day-to-day operations. We both deal with clients and networking.
Faleris: Have you ever had to get financing for a business? What is your experience in financing?
Sperling: Like many other small businesses, we have been overwhelmed by red tape and red tape. While we’ve had a long time to settle down, the process is so cumbersome that often when you fill out the paperwork it has drained you of your initial passion. And it’s because we understand this first hand, we are so excited to be a part of this new trend of raising money. People can now share their ideas with “the world” and “the world” can adopt these ideas, products and programs and support them directly.
Faleris: What are you projecting for next year? The next 5 years?
Sperling: As crowdfunding continues to grow by leaps and bounds, we anticipate higher market share, as well as higher profits. Over the next 5 years, we expect to reinvest a percentage of the revenue to keep our marketing efforts up-to-date and our website up-to-date. We want YouveGotFunds to be a virtual community hub where people can come to develop their business, present their creative ideas, get feedback and funding.
Faleris: Anything else you would like to comment on about your business or industry?
Sperling: At YouveGotFunds, the participants are not just another project, but real people with great ideas. And we put our money where our mouth is making sure that all the money that is raised (even if it does not reach the goal) is left to the participant (minus the fees). We also try to improve fundraising success by offering a hands-on approach to marketing and awareness. YouveGotFunds.com is more than just a platform – we are a true crowdfunding partner.
Crowdfunding is a growing concept that is destined for the future. We are excited to see this next step from YouveGotFunds.com to help new business owners bring their new goods and services to market. It’s good for the economy and good for consumers.
If you have a strong business plan and idea, you may be well on your way to success.
