CrowdFund Genius Live 1.5: Crowdfunding Q&A

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How to run a Crowdfunding Campaign. CrowdFund Genius is a LIVE show every Friday 8 PM CST via Pericsope! Host ZacBob answers questions about Kickstarter, Indiegogo and any rewards based crowdfunding related questions. You can get your question answered by tweeting @CrowdFundGenius on Twitter. 

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Q1: What industry is going to be hacked by crowdfunding next?

A:I’m a products based person. I like to see small products get funded such as wallets or bags. I love when people launch new products through Kickstarter or Indiegogo. I like it when it’s a small price and it’s cost efficient to manufacture and you can sell it for 15 to 16 dollars so you can get a big return on your investment. I would like to see teachers get funded. They don’t have the funding or the pay that they need or deserve. They are teaching our children who are the next generation of creators, Crowdfunders, podcasters, and entrepreneurs. So they need the money! They need those types of funds. They need classroom supplies. Each and every year new students are coming in and out of classrooms so it’s a revolving cycle when it comes to students so why not start collecting emails address. You can build an email list just from your students parents, family members, grandparents, etc. A lot of parents don’t have just one child and when those children grow up and have a family of their own they also attend those very same schools that their parents attended as well. So why not have parents invest into those schools, school supplies, and teachers because those are the teachers that are going to be teaching those children. Maybe one day we can start funding these teachers salaries as well.

Q2: I would love to know if there are any statistics on how many campaigns turn into viable on-going businesses?

A: There was a study done by Wharton School of the University of Pennsylvania that shows that 90 percent of successful crowdfunding campaigns continue there business 3 years later. Now to further break that down, of that 90 percent success rate; 38 percent of those campaigns only make $25,000 dollars afterwards. Now that is hardly viable! Now with that being said here’s another statistics. 32 percent of successful campaigns continue on to make 6 figures or more after their crowdfunding success. Hopefully if you’re in that 32 percent category you’re pulling some more money that you can invest into your business. Hopefully you don’t have too much of an overhead that you can’t make that possible or make that type of money work.

 

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