At a glance, crowdfunding platforms look like amazing tools for entrepreneurs to get started, which helps to explain the runaway interest in crowdfunding – as well as the high rate of campaigns that fall short of their goals.
The truth is that crowdfunding has thus far best served those who are already a good distance from the starting block. Most successful campaigns have clear concepts, products ready for the market, established teams, a strong network of supporters – a whole lot of advantages that an entrepreneur in the earliest stages of a project doesn’t yet enjoy. A pity, because crowdfunding is such a great way to marshall resources and support.
LaunchLeader has a smart solution that allows entrepreneurs who are truly just getting started to find the help that they need.
LaunchLeader restructures the typical fundraising drive to more closely resemble a wedding registry. This setup asks entrepreneurs to create a concrete wish list of things they need to realize their minimal viable product (MVP). Donors then contribute toward specific tools – a landing page, social media ads, web domain, etc.
Even the most talented musicians have to work up to playing famous venues like Madison Square Garden. Likewise, few entrepreneurs begin ready to pitch to investors, join accelerator programs, or even take to the bigger crowdfunding stages such as Kickstarter, Indiegogo or Fundable. LaunchLeader gives them a chance to play to a more intimate circle of family and friends, building support and raising funds from core fans.
The micro-crowdfunding approach forces entrepreneurs to focus their energies and get organized. They have to choose the items that are most essential, and budget modestly if they expect contributions. Besides establishing the good business practices of accountability and transparency, letting people select what pieces they’d like to help build makes giving money more comfortable for all involved.
Showing progress – components put into place as promised – keeps entrepreneurs on task and supporters engaged. For those unpracticed at social media, the LaunchLeader platform is a cozy place to activate a network of believers.
Money and feedback: no startup takes off without them. LaunchLeader gives entrepreneurs a chance to tell their story and receive the most fundamental support needed to build their MVP, no matter what type of product or service they’re building.
The website even offers a guidebook on how to start a company using LaunchLeader, while an algorithm matches entrepreneurs with talent capable of doing the work that money has been asked for to complete.
On the hunt for early validation from friends and family? Need just the barebones financial backing to create your MVP? Aspiring entrepreneurs should learn more about how to crowdfund registry-style at launchleader.com.