Now that the government has made it easier to crowdfound your projects, loosening the requirements for accepting cash in exchange for equity, how should you go about soliciting the public’s financial support for your project? Musician Erin McKeown has put her own spin on creating funding tiers, i.e. different levels of support where those who pledge more money receive something more substantial in return. On the lower end of the spectrum is a one-hour fantasy baseball consultation where McKeown will work to improve your team. For a larger pledge of financial support, she will accompany you to a baseball game or a museum.
What’s the Big Idea?
When it comes to fundraising from the public, using your personality to attract support may be as important as explaining your idea. So whether you are an artist or an engineer, pitching something you like doing is a smart and fun way to enlist support while getting to know your audience. Some might say that reaching out like this is a gimmick which devalues the project you are proposing. But ultimately it will depend on your own personality and how comfortable you are with sharing yourself in exchange for promoting your idea. If you are an interesting person, people will be more wiling to support your interesting idea.