5 tips on how to fund your passion

5 tips on how to fund your passion

Monday, March 10, 2014 - 11:50

By Linda Inpijn - Marketeer at OnePlanetCrowd

Let’s face it: we all like to make money doing what we love to do. But not all of us know how to start a business, and it’s even harder to fund a business . If you’re looking to make a next move in business, consider crowdfunding! Oneplanetcrowd, the impact crowdfunding platform in the Netherlands, shares tips on how you can fund your own passion.

Crowfunding’s massive growth spurt
Traditional ways of funding, like loans from the bank, are becoming more and more unaccessible, especially when you’re a start-up.  Luckily, it’s still possible to start a new business these days. You just need the tools to start, and crowdfunding is here to stay! Crowdfunding has had a massive growth spurt in the Netherlands, raising over 31 million in 2013, compared to ‘only’ 14 million in 2012! Not only does it help you start your business, it’s also the ideal way to gain momentum from early adopters and find new ambassadors for your project or brand. But what should you look out for when you’re starting your own crowdfunding campaign? Here are 5 tips:

1.      Solve a problem
To start a crowdfunding campaign, (or start any business really), you first need a good idea. This idea doesn’t have to be mind blowing, it can be really simple, yet effective idea. Take KRNTWR for instance, an app inspired by the problem that alot of restaurants don’t offer perfectly good tap water tot their customers in the Netherlands. We have the best water quality, so it’s kind of a waste of resources to use bottled water. KRNWTR started a crowdfunding campaign on Oneplanetcrowd, raising over 10.000 euro. With this funding, they developed an app that helps you see which restaurants offer a sustainable glass of water, meaning no use of plastic bottles, just our perfect water straight from the tap.

2.      Tell a story
The most important aspect of crowdfunding is storytelling, and if your story speaks to alot of people, the more people will retell your story and will want to contribute to retelling your story. Your story will become a legend! So, what are the basic principles of storytelling? Here are 6 most important aspects.

3.      Have a plan
“Hello world, can I have some money please?” Although this tagline would seem to be highly effective in communicating what you would like most, you know it’s now going to work at all. You need to build trust when starting a campaign. How to do this? By telling people who you are, what you want to do, how you’re going to do it and what you’re going to give your crowd in return. It also helps to visualize your plans, especially when it’s about a product or service you’re offering. When writing down your plans, keep in mind to use these ‘phrases that pay’, provided by research on Kickstarter.

4.      Pay it forward
Nothing says ‘i appreciate you’ more than a gift. Consider what you would like to offer the crowd in return for their support and investment as the ‘first believers.’ There are many ways to offer rewards on crowdfundingplatforms, including discounted products an/or services, interest rates on loans or even a share in your company. Think of something that offers value beyond money too, like exclusive deals, limited editions or even your time!

5.      No guts, no glory: put yourself out there
It takes some guts to start a campaign. Crowdfunding puts you ‘out there’ and a crowd can make you, or break you. This can sometimes be a little frightening. But let’s consider this: crowdfunding is no different from marketing your new product or service, the only difference is the response by your end user, which is far more immediate. Crowdfunding is the perfect way to enter a new market and to see if your idea is a crowd ‘pleaser.’ So start campaigning, tell all your friends and relatives about your project and just do it!

Call for projects
Do you have an idea for a project, a product or a service with a social or sustainable impact? Oneplanetcrowd is always looking for new crowdfunding projects. You can submit your idea here: http://www.oneplanetcrowd.nl/nieuwproject.

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