Questions

I have heard radio interviews and seen very successful social crowdraising campaigns, that raise their money and go onto become multi-million dollar companies, spoke with an entrepreneur who had 15 million to start for his business. While others struggle for years, or churning out idea after idea, or sit with $0 on gofundme or indiegogo. Is it luck? Talent, is it chance, a phase of astrology, is it the people you know, your credit score or earnings, the family you were born into, energy blocks. Is it neural pathways, is it if you nap like Einstein did? What is it?? I have pondered this for years. It is very hard to raise seed money. Yet some people know how to do it so well!

I think it wildly depends on a combination of
- the entrepreneur(s) way with words and people
- the idea's general "sexiness" & timing
- the country/ecosystem/networks entrepreneur + idea are in
- the idea's special connection/appeal to eventual money-givers

& General rule: People attract people & Money attracts money-
You see one restaurant full of people vs. the other restaurant which is empty- where do you choose to eat?
There is a person with USD 90'000.- who needs another USD 10'000.- to execute a customer delivery vs. there is a guy with an idea who needs USD 10'000.- to build a customer base- who do you support?

Sounds obvious, but core human functioning & reasoning like that explain the seeming "easiness" of how some people get money. Once they're in the right loop, have the right credentials out: support just calls more support (you may read about the "Pareto distribution" principle). Sure, that is unfair, but you can try to use it to your advantage also if you do not have much.

For example:
If you start a crowdfunding campaign you need at least all of your friends + family members to support your project publicly (on the platform, but also elsewhere), then once you have some initial dynamics, it makes sense to advertise the campaign on several, relevant* channels to strangers. The ones of them who get interested click on your campaign and can already see something going on there. Not just a blank space, stuff like "USD 0 of USD 10'000 funded"- huge turn off.

*you want to have your dog food project funded, then you need to communicate about the campaign where dog owners read/listen/learn. Just "Facebook" is too general.

Good luck!


Answered 5 months ago

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