The Best Fundraising Tips for Small Businesses
You don’t have to be an expert in raising money for your start-up business. Many people who aren’t financial experts have raised millions of dollars for their business dream. There’s Jan Koum (Whatsapp), Howard Schultz (Starbucks), Oprah Winfrey, Ralph Lauren, Steve Jobs (Apple), and Sam Walton (Walmart) – to name a few.
Whether you are raising funds for a new business venture or thinking of expansion on your current one, several fundraising techniques will help you reach your capital goals. Here are Airfunding tips to get you started.
Tips for Raising Money for your Start-Up
1. Start with a plan.
Before asking for money, make sure you have thought through what you need and why you need it. It is important to think about what you would do with the money once you receive it. Having a plan makes possible investors or supporters believe that the money they sent is worth every penny. Be prepared. If you are going to ask for money, make sure your pitch is ready. That means having a clear message, a compelling story, and a well-written proposal.
The best way to do this is to make a list. Write down everything you will need to raise money for your crowdfunding campaign. Check out Yazmin Atencio from Mexico and how she listed all the materials her business needs. Her detailed description of where the money will be used helped her raise $711 in two months.
2. Reach out to your network.
Reaching out doesn’t only mean asking for money from your family or friends. You can reach out to them to get advice as well. Find out what other entrepreneurs like you are doing to raise funds. Don’t wait for the money to come to you. Be active in finding creative ways to raise money through the help of others. That is literally how crowdfunding works!
Building a strong team to work with helps a lot. A good team behind you will help you succeed. They already share your vision and values. They also understand how to work together and be able to communicate effectively. (Bonus tip: join the Airfunding Worldwide Community!)
3. Make them say “Yes!”
Entrepreneurs are known for their being passionate. And, if you are passionate about a business idea, you surely won’t just take no for an answer. If a friend cannot support your fundraising project financially, how about asking them to share your project link instead? A small gesture of sharing your project will come a long way. Offer them a variety of ways to help your small business.
Efren from the Philippines did just that. Through the help of his friends sharing his Airfunding project, he amazingly raised $1,563 in one month!
Олексій from Ukraine did it differently. Instead of making the supporters think they are only donating for business capital, he instead offered to exchange their donations for a cup of coffee. Brilliant, isn’t it? And it helped him raise $614!
As you crowdfund your business capital, remember to check in with your current supporters. Providing them updates gives them a little push to donate again. You can do this in different creative ways like a blog, direct message, photo update, or video summary. Sharing these milestones will help you on your crowdfunding journey.
Here’s a guide on how you can provide updates on your Airfunding project.
5. Keep on learning.
Knowledge is right at your fingertips. Many resources online will help you boost your fundraising activity. Learn from different people and sources every now and then. First to check out is Airfunding’s YouTube channel! Learn what crowdfunding is and how Airfunding works through our videos. Get also amazing tips from success stories from around the world.
Ready to start your business?
Sourcing funds will be hard at the start. But crowdfunding will help you take the first steps toward your financial goal. So start your crowdfunding journey today in Airfunding!