Southfield chamber of commerce presentation
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Southfield chamber of commerce presentation

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Michael Melfi Crowdfunding presentation

Michael Melfi Crowdfunding presentation

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  • Wel <br />
  • Welcome – Thank sponsors <br />
  • At it’s essence, crowdfunding is using the Internet to take a little bit of money, from a lot of people, to fund a business, idea or a cause <br />
  • A key understanding of all of these (or a team member that specializes in at least one) is essential to having a successful crowdfunding campaign. <br /> LEGAL – Need to have your idea and intellectual property protected. Moreover, legislation is still being finalized by the SEC, so legal expertise is essential. <br /> FINANCE – Need to know how much money you actually need, why, and where it’s going to go <br /> MARKETING – Defined as a “clear concise message to a targeted group of individuals.” Need both for successful crowdfunding <br /> SOCIAL MEDIA – Becomes one of your main means of executing your business strategy. <br /> And today, we are lucky to have a presenter that exhibits, practices and really owns all of these qualities <br />
  • And we will illustrate these forms with a simple example basically everyone has experienced. <br />

Southfield chamber of commerce presentation Southfield chamber of commerce presentation Presentation Transcript

  • WHAT IS CROWDFUNDING?
  • THE CROWDFUNDING SUCCESS EQUATION
  • WHAT IS CROWDFUNDING?
  • WHAT IS CROWDFUNDING? Crowdfunding describes the collective cooperation, attention and trust by people who network and pool their money and other resources together, usually via the internet, to support efforts initiated by other people or organizations. @MelfiAssociates
  • THE FOUR TYPES OF CROWDFUNDING • Donation Contributions go toward a charitable cause • Lending Investors are repaid for their investments over a period of time • Reward Investors receive a tangible item or service in return for their funds • Equity Investors receive a stake in the company @MelfiAssociates
  • WHY CROWDFUNDING WILL / WILL NOT WORK @MelfiAssociates
  • ADDRESSING SCAMS AND FRAUD IN CROWDFUNDING “With the fraud rates in the unregulated world of donation crowdfunding hovering around 3%, I think if the Internet's sunlight effect is allowed to work, we will find investment crowdfunding sees even lower incidents of fraud. There are a number of factors at play in making that work, including the pledge system and the basic vetting required.” David Marlett Founder and Managing Partner, Crowdfund International @MelfiAssociates
  • What makes a project successful?
  • SUCCESSFUL PROJECTS: • Create a call-to-action video • Keep active & engaged with your audience • Get early funders aboard • Reach the CF “sweet spot” ( 40% )
  • social media  noun (usually used with a plural verb) Computers. Web sites and other online means of communication that are used by large groups of people to share information and to develop social and professional contacts: Many businesses are utilizing social media to generate sales.
  • COMMON PITFALLS • Setting campaign goals too high/low • Lack of authenticity/personality in messaging • Not accounting for processing/reward fulfillment costs • Excluding a proper “call to action”