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Crowd Funding



Hi there:

I am starting my own business next year. I am thinking of launching a crowd funding campaign to generate a little bit of a cushion for my loan down payment. I've created a test site that I am not ready to launch until I know it is set up well. If you are willing, please message me directly and I can send you the test link.


7 June 2016 2 replies General



Ming Lai Alhambra, CA

Hi Kat!

Congratulations on starting your own business! Crowdfunding can be an effective way to generate funds, help publicize your business, and attract new customers. However, you have to do a lot of research on finding the right crowdfunding platform and running a successful campaign. First and foremost, you have search for an established and trustworthy crowdfunding platform. Some have been involved in scams. Second, you have to find one with fair service fees and credit card processing fees, which can add up to 10% or more. Plus, you have to consult with a tax advisor on how much taxes you'll have to pay afterward. Regarding running a successful campaign, there are many tactics for doing so, from starting on a Tuesday instead of a Monday (because people have settled into their work week and caught up with their email) to running a 30-day campaign instead of a 60-day one (because 30 days has more urgency) to determining the ideal reward/perk level (because most people will donate around $30). Successful campaigners also advise approaching your core donors first (family, friends, and colleagues) so that your campaign starts off immediately. There will be a natural lull in the middle of the campaign so you will have to push past this point. And they advise going for a strong finish, returning to your core donors. Personal emails work the best. Hopefully, this information helps! Good luck!!

Best regards,


Lance Dowd San Antonio, TX

Kat, Feel free to send me the link. I'd be happy to tak a look and give you some advice. If nothing else, I can put you in contact with a colleague who is very involved in crowd funding.
- Lance

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