With 2013 expected to be the year of crowdfunding (at least according to our own Brian Jackson), more and more entrepreneurs will likely be turning to this innovative funding model in the year ahead. But it’s not enough to have a great idea – you also need a great pitch.
Crowdfunding is certainly needed – the Canadian startup scene suffers greatly from a growth-inhibiting lack of access to early stage capital. The Invest Crowdfund Canada campaign has been ramping up efforts to bring the practice to Canada, and several provinces seem poised to legalize and regulate the practice.
Once you’re ready to seek crowdfunding though, just having a great idea won’t be enough. If you seek funding from traditional investors, you need a sound business plan and a solid presentation. And if you’re seeking crowdfunding from the masses, you need a great video pitch that connects with potential supporters and makes them want to hot that contribute button.
A round-up from of the top (successful) videos from crowdfunding site Indiegogo, pitching everything from peanut butter to a printing plant, reveals some common themes that other entrepreneurs should seek to learn from and emulate. Among them? Be entertaining, and make the viewer feel like they’re getting something back. You don’t just need a potential product, you need a story too. Make the viewer feel like they’re in it with you.
The guys behind Good Spread peanut butter certainly have a story to tell, from organic honey and helping malnourished children to a burning Winnebago. Needless to say, they got their crowdfunding.