The Campaign Approach

Three Businesswomen Meeting Around Table In Modern OfficeStarting or growing a business can be exciting yet challenging. From ideas running rampant through your head to making it a reality is a long highway. There is so much to do, so much to investigate. In essence, we all know the bottom line will be how we pay for it all. Start-up costs can catch us off guard as we forget the tiny details that eat up our budget and therefore have to find other ways to move forward.

Crowdfunding is a great alternative and has changed the way many business start-ups fund their projects. Crowdfunding has tripled in the last few years and entrepreneurs use this type of funding for proof of concept or early idea validation.

According to Forbes, the key to success, no matter where you seek funding, is directly linked to the amount of work you put into your idea – and that happens long before you launch your campaign. Contributor Lawton Ursrey states, “there are three must haves in your crowdfunding strategy”.

  1. Perfect your message.

The most important aspect of explaining your product isn’t around the benefits, it’s around the problem it solves. Start with the problem, explain your solution and then verify the market size in your pitch to frame the situation for investors.

  1. Get clear on how much you need.

More money is always better, right? Not when it comes to crowdfunding. Asking for too much can leave you disappointed, and limit your future funding options. Don’t ask for everything at once. Focus your crowdfunding requests on specific parts of your business or certain phases of development. Instead of shooting too high, break down your funding into phases and establish a goal that makes sense within each phase.

  1. Skip the cold start.

Nobody wants to be the first to jump in the water. As with traditional funding, the psychology of things is a factor in producing the desired outcome – getting funded. Increase your chances on crowdfunding by starting out with some initial investment possibly assembling a starter crowd to draw attention to your pitch and make investors more interested.

Keep in mind that once the crowdfunding round is over – it’s really just the beginning. If things didn’t go as planned then find out why. Analyze the feedback and then adjust your goals if need be. If you had a successful round of funding, maintain a relationship with your investors and show your gratitude. Regardless of how much a person has invested, they may be willing to donate more during your second round.

Give people something to believe in, and they’ll be more likely to invest.

Commitment Or Just A Phase

OH blank I2F JournalYou have pondered on your idea for a long time. You have taken several steps to get your business started. You feel like this is it, you can do this. Yes, you can! However, it requires commitment from the thought process to the forever. Let’s define commitment.

Commitment -the state or quality of being dedicated to a cause, activity, responsibility, obligation, duty, tie, liability, dedication, devotion, allegiance, loyalty,and faithfulness.

Do you still feel you have the commitment it requires to start, run, and excel as a business owner?
Great, now say “I am committed to making this business a success”

Your commitment cannot just be the use of the word, it must be an action. Continue reading

Ethics, Integrity & Code of Conduct -Defined

I2F code of conductWe easily understand that economics or poor business management can cause a business to fold. Let’s dig deeper and think about some of the past million dollar businesses that have  failed. Why? What causes such a topple of one’s success. It really is one simple word – morals.

We all know right from wrong but whether we choose to follow the right instead of the wrong makes all the difference. A good business has a great, solid foundation of morals, ethics & integrity. Successful and blossoming businesses Continue reading

Five Tips For Marketing On A Budget

branding i2fFive tips for marketing on a budget.

After months of deliberation, planning and strategizing, you’ve finally taken the bold move and quit your day job to pursue your real passion – becoming your own boss. You know your craft inside out, have already acquired a few clients and are now ready to give it 101% and make this venture succeed. But now the real work begins and you, and only you, are responsible for everything; yes, that means Sales, Marketing, Bookkeeping, Operations and everything else in between.

Marketing needs to be your #1 priority as if nobody knows you exist, how can you possibly generate leads, convert them into customers and start making some money? But funds are tight and you can’t afford a consultant, so what now? Continue reading

Solo, Partner, Corporation. What’s The Difference?

i2f contracts storyAccording to the Small Business Chronicle, A sole proprietorship is a business that has a single owner who is responsible for making decisions for the company. A partnership consists of two or more individuals who share the responsibility of running the company. A corporation is one of the most recognizable business structures and has a separate identity from the owners of the company. One or more owners may participate as shareholders of a corporation.

Have you thought about how you would like to proceed? Some businesses are perfect for a sole proprietorship. A Sole Proprietor makes all the decisions and pays for all income tax on their personal taxes. Business plans that include growth, especially at a fast rate may want to consider having a partner to help make decisions when you are unavailable. They generally also invest Continue reading

Do Women Entrepreneurs Have An Edge?

i2f business womenStarting your own business can be an amazing and rewarding venture.  Business has been male dominated for centuries. In the recent times, women have been making a name for themselves in the business world.
Women have several advantages over men when it comes to starting a business and keeping that business alive. Advantages include, but are not limited to;

1. Women know what women want: According to Harvard Business Review, “Women feel vastly underserved. Despite the remarkable strides in market power and social position that they have made in the past century, they still appear to be undervalued in the marketplace and underestimated in the workplace. They have too many demands on their time and constantly juggle conflicting priorities—work, home, and family. Few companies have responded to their Continue reading

LLC vs INC

blankblank LLCAs a new business owner, you have been busy laying out the foundation, acquiring funding, and reading local, state, and federal laws related to your business. We understand there have been many a sleepless night followed by excitement and anticipation. Now you must decide if your business is sole proprietorship, incorporated or a limited liability company. We are here to help you sort out the confusion.

Determining whether you should incorporate (INC) your business or go the Limited Liability (LLC) route can prove to be a daunting and confusing task for many small business owners. The first thing you need to know is to determine what  INC is and what determines  LLC. There are two common types of corporations; an S-corp and a C-corp. To make an informed decision, one needs to know some basic differences between Continue reading