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How I used crowdfunding to start my eco-friendly business

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You can use your savings to launch your own business. Or you can borrow from a bank or your relatives. Or you can try crowdfunding. This innovative method is based on the concept of raising funding via crowds of people. Crowdfunding is becoming more popular because it is a way to raise money quickly. It's used where traditional banking channels...

So why did Lynn use crowdfunding? She shares, "Purely to experience and learn from the process. And mainly for marketing. It was my first time and I learnt a lot during the process."

''It was also very encouraging to have consumers from around the world buy and give you early feedback on the brand. So overall, although it did not cover all my initial investment for my business, it has its merits — and I will do it again." "There are many online resources that you can use to research and study the top Kickstarter campaigns for different industries and analyse what makes them successful," she notes.Before you start crowdfunding, you'll want to make sure your idea is something unique and compelling. People must want to invest in it.

But, they often also want to feel like they're getting something in return. Rewards are a great way to thank your backers for their support and give them something in exchange. ''I patterned our reward system according to what other similar campaigns are also offering. I studied and analysed their price structure, reward offers, and what I can provide for my backers."[embed]https://www.instagram.com/p/CUhuZSwJVkb/?utm_source=ig_web_copy_link[/embed]

 

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