The benefits and pitfalls of crowdfunding the outdoors
Crowdfunding is hot, but it’s no surefire success. SNEWS looks at lessons from the outdoor industry, plus a list of past and present pitches.
Crowdfunding is hot, but it’s no surefire success. SNEWS looks at lessons from the outdoor industry, plus a list of past and present pitches.
I think crowdfunding is a great alternative for small businesses who have run into roadblocks from the stringent and often un-creative mindset of banks and like David said, with the recession, the shortage of potential larger investors. Combat Flip Flops is launching an Indiegogo campaign this weekend to raise $500,000 to get their Afghan factory up and running. The amount of strategy, content creation and planning that goes into a crowdfunding campaign is intense. Companies work for months to get all of the pieces organized. From what we've seen in other campaigns and are about to experience for ourselves, the duration of the campaign is going to be one filled with adrenalin, exhaustion and lots of caffeine. Crowdfunding campaigns let the customer speak with their dollars. If the product or idea is relevant and the customer can make a connection with you and what you're doing, your project should find success...I'll keep you posted!