Raise funds for your business idea(s) using crowdfunding

Raise Funds For Your Business Idea(s) Using

Crowdfunding

Debo OmololuPartner, Omololu Consulting

www.omololuconsulting.com

Content Summary• Why Crowdfunding?• What is Crowdfunding?• Popular Crowdfunding Platforms• Top Funded Projects• The Coolest Cooler story• 7 Tips To Build A community• About Omololu Consulting

What is Crowdfunding?


Today, new technologies and platforms have given entrepreneurs a plethora of new ways to to get ideas and new companies funded.

One of such innovative ways to raise funds Is called ‘crowdfunding’


Crowdfunding is the practice of funding a project or venture by raising money from a large number of people who each contribute a relatively small amount, typically via the Internet.

What is Crowdfunding?• For startup founders, crowdfunding serves

several purposes; it’s a way of pre-selling a product or service to test the market & raise funds at the same time.

• Crowdfunding is probably the best way for start-ups to raise funds. It shows future investors that there is a market for your idea

Why Crowdfunding?

Why Crowdfunding?

• Raising capital for a startup has traditionally been one of the most difficult parts of getting your idea off the ground.

Why Crowdfunding?

• In 2015, over $34 billion dollars were raised via crowdfunding and it is estimated that $60billion would be raised by crowdfunding in 2016.

• In comparison, the venture capital industry invests an average of $30 billion each year.

Why Crowdfunding?

Popular Crowdfunding Platforms

Popular Crowdfunding PlatformsAccording to a ranking on Crowdfunding.com, the top 10 crowdfunding sites based on amounts raised in 2014 are:

Kickstarter ($529m)GoFundMe ($470m)Indiegogo ($444m)TeespringPatreonYoucaringCrowdriseDonorschooseGiveforward

Popular Crowdfunding Sites - Asia

Yu Le Bao from Alibaba Coufenzi from JD, Mijia from XiaomiDemohour Dreamore Fundnel (Singapore)Crowdo (Malaysia)

Top CrowdFunded Projects

Top CrowdFunded ProjectsCampaign Campaign Amountend date target raised

1 The DAO Blockchain Ethereum 28-May-16 $500K $160,000,000 Storage & transmition of cryptocurrency Ether and

Ethereum-based assets.

2 Star Citizen Video gameKickstarter,

Independent Ongoing - $128,469,458 Space combat video game from Chris Roberts,

designer of Wing Commander .

3 Elio Motors Low-cost, high mileage vehicle Independent Ongoing - $102,000,000 Elio Motors is designing a three-wheel vehicle that will

get up to 84 MPG.

4 Pebble Time Smartwatch Kickstarter 27-Mar-15 $500K $20,338,986 The Pebble Time is the second generation version of

the smartwatch called the Pebble.

5 Prison Architect Video gameIndependent,Steam

Early Access 6-Oct-15 - $19,000,000 Prison construction and management simulation

game by Introversion Software.

6 Ethereum Blockchain Bitcoin, Independent 2-Sep-14 - $18,439,086

Ethereum is a public blockchain-based distributed computing platform, featuring smart contract

functionality and a cryptocurrency, Ether.

7 WAVES Openblockchain Independent 31-May-16 - $16,436,095

Waves is a non-permissioned, non-privatized blockchain that intends to deal with banks national

currencies. Raised 2 million in 24 hours

8 Coolest Cooler Product Design Kickstarter 29-Aug-14 $50K $13,285,226

Portable 60 quart cooler that contains a battery powered rechargeable blender,

waterproof Bluetoothspeaker, USB charger, cutting board, plates, among other features

Rank Project Category Platform Notes

The Coolest Cooler Story

Coolest Cooler Story

In 2013, Ryan Grepper first launched his "portable party disguised as a cooler" on

Kickstarter with a target to raise $125,000. His campaign failed.


• According to Grepper, he made a few mistakes in the first campaign. For instance, it was supposed to be a souped-up party cooler but he launched it in the winter period. Cold drinks would be the last thing on people’s minds!

• He also admitted that the design as not as far along as it should have been.


He went back to the drawing board, got some coaching and returned 7 months later.

He renamed the product, worked on the design elements and launched another campaign in 2014 with a lower funding goal of $50,000.


Coolest Cooler went on to raise over $13m and break Kickstarter's funding record as at 2014.

7 Tips For Successful Community Building


To run a successful crowdfunding campaign, you need to build a community.

Community building is more important than cash. According to Jamey Stegmaier:

“If your focus is on people, not on money, you will be significantly more successful — ‘crowd’ precedes

‘funding’ in crowdfunding.”


Start a blog or websiteCreate an email list or subscriber listCreate content & share periodically Do not launch ‘cold’Outsource visuals & videosAttend Courses Engage a Crowdfunding Agency

About Omololu Consulting

Omololu Consulting is a crowdfunding agency that has created a unique approach to crowdfunding.

We help start-ups and SMEs build communities by creating strategies, content, websites & visuals for our clients that can be monetized for successful fundraising.

This approach has led to a 100% record and $18m raised for clients.

Lagos | London | Shanghai | Los Angeles

Contact Omololu ConsultingWeChat: OmololuConsulting

Twitter: @OmololuConsult Facebook: @OmololuConsulting Email: [email protected] Website: www.omololuconsulting.com

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