So you have a dream or an idea.
Maybe you always felt like your purpose was to accomplish MORE than what most said you could.
You don’t want a J.O.B. you want to do something IMPORTANT and SUBSTANTIAL with your life.
So what do you do?
You finally sit down and write out your ideas.
Then your first notes become a series of papers, diagrams, and charts.
They eventually get much more refined and organized.
Now you have a PLAN.
You show off your plan to your family and friends and online peeps and everyone thinks what you’re doing is cool.
They’re so impressed that they even like your articles about it on Facebook and re-share it on Google+.
They’re excited, you’re excited everything seems to be going well except there’s one little issue:
HOW IN THE HELL ARE YOU GOING TO GET YOUR PROJECT FUNDED?
In corporate America people talk about the GLASS CEILING.
In entrepreneur America people talk about the FUNDING BRICK WALL.
This is the reality that banks simply won’t lend money to inventors and creators who have AWESOME ideas.
The funds that BANKERS claim they have are simply not suited for THIS type of speculation.
This follows the ongoing tradition in America that’s been in place since the very beginning.
One man has a great idea so he makes a plan and heads down to the bank to “GET SOME MONEY”.
The man in the bank tries to figure out how he can tell this creative person that if he invested in everyone’s AWESOME idea’s there would be NO BANK left without coming off rude.
With his polite REJECTION in hand this creative person moves on to other banks asking the same question and getting the same answer, NO.
This is where most creative people QUIT.
They figure hey, I had an idea I tried it and I couldn’t get it funded, it’s not fair, screw my dream I’m going back to work a J.O.B.
They keep going.
They decide well, if the bank doesn’t want to take a chance on my dream then maybe I should.
So they borrow money from their friends and family and MAX OUT ALL their credit cards.
The problem is their business hasn’t really become a BUSINESS YET.
It’s not making any money but it’s COSTING a TON.
New expenses have to be paid at the same time interest payments are due on existing credit card purchases.
As time passes the available credit dries up as money is moving out at a much faster rate than it is coming in.
Bill collectors start calling, family members start asking WTF is going on, STRESS sets in like a thick fog from a horror movie.
Now this creative person is beginning to wonder if their doubters were right.
They begin to think crazy thoughts like,
“Why am I so F-ING STUPID?, Why didn’t I just listen to that Banker?”
This is where 90% of the creative people who kept going QUIT.
Some keep going.
They are not motivated.
They are not inspired.
They are TENACIOUS.
NO is simply not an acceptable answer for these ZEALOTS.
They are so consumed by their DREAM to become successful that literally it becomes an OBSESSION.
It’s the only thing that they talk to people about.
It’s the only thing they do if they’re not SLEEPING, EATING, WASHING, or spending time with a loved one.
They’ve given up all typical social activities like catching the BIG GAME or GOING TO THE BAR/NIGHTCLUB with the homies.
They haven’t watched TELEVISION in so long it’s hilarious.
They haven’t been to a CONCERT in so long it’s a shame.
They decided that they WILL FIND a solution to get their idea funded one way or another.
So, they hit the internet and start researching like Penny on Inspector Gadget.
They discover new innovative ways that creative people have been getting their projects funded called CROWDSOURCING or CROWDFUNDING.
A light goes on in their head, a smile appears on their face.
Crowdfunding WTF IS THAT?
Wikipedia defines crowd funding as follows:
…the collective effort of individuals who network and pool their money, usually via theInternet, to support efforts initiated by other people or organizations.
Crowdfunding How to succeed in 2013
#1 – GET YOUR S.H.I.P. TOGETHER
The specific term from your business plan is the executive summary.
You need to be able explain very quickly what your project is all about, why it’s important, and when it will become profitable.
Remember to update the wording for the crowd funding audience who don’t care about banker terminology by the way.
Just keep it simple so the average person can understand what you’re doing, remember you’re asking them to fund you.
There are two HOW’s that you need to be prepared to answer:
a) How much money do you need?
b) How does it all work?
People will ask you straight up how does your idea work? You need to be prepared to answer this questions in a way that impresses them enough to want to invest. You never know who you’re talking to it could be someone with the means to just write you a check for the full amount. Remember, the easiest way to scare off potential investors is to seem as if you are not prepared to answer this basic question.
Yeah it’s true pictures speak a thousand words.
So let your images of your work do the talking for you.
Get images that show renderings of what your facilities will look like when you are operationg.
Bring people into your mind.
Let them see what you see.
How many employees will be part of your business? What would a typical day look like?
The more you can illustrate the better.
Demonstrations of how people could be using your product are also effective.
Real life examples are best but if you have to use animations or sketches do what you have to in order to make an impression.
No images no chance you’ll get funded.
Insert your favorite cliche here:
A closed mouth doesn’t get fed.
So don’t be quiet because you are shy or scared when you should be pitching a potential investor.
Get your pitch game tight.
Spend energy every week getting better at pitching people.
Develop what the call the elevator pitch.
This is when you say just a few quick thing to get someones attention when you just happen to be in an elevator with a prospect or sitting next to them on a train.
If you don’t step up and put YOUR best foot forward who will?
Crowdfunding How to succeed with #OneSpark2013:
I first covered one spark for social media Saturday this past weekend.
This outstanding event starts today and I want to tell you a little bit more about it.
I will continue to cover this even all this week and I hope to see you there.
#1 – Show up.
Check out the main One Spark site for event information parking schedules and more.
#2 – Show out.
Come prepared to network with like minded entrepreneurs and inventors.
Bring you business cards, flyers, and samples of your work if possible.
Yeah it’s too late to sign up as a creator for this years One Spark but that doesn’t mean you won’t find opportunities with other attendees and you can find out how you can sign up for next year.
#3 – Get connected
Make it a point to build a list of people that you will continue to network with AFTER #onespark2013 is over.
Remember, follow up is the one thing that most people wont do that generates the biggest results.
Follow all of the One Spark coverage in the local media:
- Check out Folio weekly’s write up about the One Spark creator. See their latest post.
- DOWNLOAD THE The EU one spark guide.
- Check out what Arbus is saying.
Stay tuned for more to come this week.
Now it’s over to you.
What do you think about Crowdfunding?
Have you ever heard of it before? What about One Spark?
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