Having A Business Idea Is Not Enough

When you have a cutting edge business idea, it’s not enough. You need to have a team to build some good tests and quality engineers to test it, but will that be enough or do you need more?

I think the best rough strategy to launch a product is to prototype first, to get a working solution for your idea. Once you have that, you need to hire a team for the development, some good marketing and some sales people, if the profit model is to sell it and so on but, how will you get the budget? You could always partner up with the investors but there are also other ways for the funding.

Crowd funding is one of the options, but you can’t just go there and ask for money. You should at least prepare the below mentioned points, before hitting any of those sites.

Business Idea

Describe your business idea now. It could be text, but if it’s an animation or some nice scripted short client, you will grab more attention. Check out these crazy intro videos ,which are really cool.

Financial Timeline

The funding organizations are really interested in how you will spend the money and it’s even better if you tell them how and when (considering the stage of the project you are in). Defining a timeline gives them the overview of the project lifecycle. There are many tools that can generate fancy timelines, so use them.

Team

For transparency, give the intro of the team that is involved and if possible a small introduction of each member, that explains about them and how they feel to be a part of the project.

Perks

That’s the best and the tricky part. Perks are something that you offer to your funding organization. It can be manythings within a project starting from $1 to as much as possible, but keeping a low amount is the best strategy. For low-cost perks, you can offer laptop stickers, t-shirts, mugs etc. For high-paying funding organizations, you can offer them an early bird release of your product.

Famous crowd funding sites


                              Source: http://www.cuttingedgecapital.com/the-crowdfunding-platform-explosion/

The best practice is to hire a technical writer, who can fix these technical documents and videos for you. There are many crowd funding exporters available, who are really good at what they do and they can pitch your product better.