Thomas Elliott Young - The Everything Guide to Crowdfunding: Learn how to use social media for small-business funding

GUIDE TO CROWDFUNDING

Dear Reader,

Do you want to create your first professional video, record your first CD, or write the great American novel? Perhaps you have a great idea for a new business that you would like to launch? All of these projects require start-up funding, and this book can help you obtain it via crowdfunding.

Crowdfunding is the newest way to fund projects and start businesses. Instead of hitting up family and friends, using credit cards, or getting second mortgages, you can pitch your idea to perfect strangers who will then help you fund your idea. These are people who have interests similar to yours and, believe it or not, want to see your project come to life, often just so they can have a copy of what you are going to create.

Whatever your dream idea or business, there is no reason that it cant become a reality as soon as you want it to. All it takes is hard work and determination to make it succeed. You can do it!

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Guide to
Crowdfunding

LEARN HOW TO USE SOCIAL MEDIA FOR
SMALL-BUSINESS FUNDING

THOMAS ELLIOTT YOUNG

First and foremost, I want to thank my wonderful wife Mary who provided me with constant support during this project. I couldnt have completed this Everything guide without her. Also, to my wonderful children, son, Elliott, and daughter, Madeline, who got a lot less time with Dad while this book was being researched and written.

Special thanks to:

• Lisa Laing, Brett Shanahan, Brendan ONeill, Kate Petrella, and the others at Adams Media for helping make this book become a reality.
• Jack Mayer, my friend and fellow author who provided great support and feedback during the process of completing this book.
• Paul Druskat, my friend and business associate who was a great sounding board for my crowdfunding content and opinions.
• Ted Green and Richard Frank, business associates and good friends who provided support and guidance.
• Tom Elliott, from The Idea Greenhouse who was actually the first to suggest I write a book on this topic.
• Kathleen Callahan, from the NH Business Review who originated the first articles about my successes with crowdfunding.
• Thanks also for permission to use original material from:
• Matt Benson from Cook, Little, Rosenblatt & Manson
• Vanessa Urch Druskat Phd, Associate Professor of Organizational Behavior at the University of New Hampshire
• Brian Meese from RocketHub.com
• Tom Dawkins and Alex Budak of StartSomeGood.com
• Monica Hamburg, author and social media evangelist
• Pierre and Lisa Fiorini, of CF Search Marketing
• Rachel Durfee, public relations at Google
• Amy Cortese, the author of Locavesting: The Revolution in Local Investing and How to Profit from It
• David Barach, Executive Director, Good Done Great
• John Jantsch, the author of Duct Tape Marketing: The Worlds Most Practical Small Business Marketing Guide

1. What crowdfunding is, and the benefits and shortcomings of this new type of funding.
2. How to tap into the power of crowds and crowd psychology.
3. The various facets of a crowdfunding campaignfrom the passionate pitch to the catchy video.
4. The different crowdsourcing platforms to choose from and which one best matches your idea or project.
5. How to run a successful campaignfrom picking a reasonable goal to setting a time frame.
6. How to select the right rewards to get donors to donate.
7. How to use Facebook, Twitter, YouTube, and other social media sites to promote your crowdfunding campaign.
8. How to protect your idea or product.
9. How to successfully deal with donors after your campaign finishes.
10. What equity crowdfunding is, and how to get ready for it.

FUNDING IS THE FUEL that allows ideas to be developed and new businesses to be launched. Without funding, brilliant ideas fermenting away in the minds of entrepreneurs, artists, and other creatives may be destined to remain trapped inside forever. Sometimes this is because a proposed new business simply needs capital for equipment, such as the commercial ovens and mixers necessary to open a new bakery. Sometimes, such as for writers and artists, cashflow is necessary simply to pay for living expenses while one takes the time to work and create.

Unfortunately, the intertwining of creative ventures and the need for financial fuel has kept untold numbers of ideas and dreams from ever reaching fruition. Not long ago this was acknowledged by entrepreneurs as simply the nature of the beast. With the exception of those who raise money from family and friends, the likelihood of getting funding from professional investors, such as banks, angel investors, and venture capitalists, was slim. Professional investors such as these are just too risk-averse. They are highly unlikely to engage in any enterprise unless they are virtually guaranteed to make a return on their investment. A sure thing, so to speak. Today, thankfully, there is a wonderful alternative. Today, entrepreneurs can seek funding for ventures and projects via crowdfunding.