This is NYukCo’s, How to “DIY ” (Do it Yourself) Crowdfunding guide to creating an Organic Non Equity Funding Campaign that helps foster local economic development. NyukCo started as a lean startup project and we have chosen to openly document the process. As a lean STratup we not only bootstrapped but expected to build our program and its components directly from feedback as we grew. NYukCo’s core plan had a budget based on collective paid membership. We soon realized that this form of revenue would be challenge because the group we wished to serve, were not only underserved but also economically challenged. In order to achieve economic inpact we reasoned that funding methods needed to be organic and executable by anyone willing to apply these strategies. We took the same approach to funding as we have done with every challenge we undertook. We identify the issues and plug the holes.
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We made a conscious decision to explore Unofficial Traditional & Cultural Support, Funding and Financing within the local sector but decided to test PreTail, PreSale Model. During Alpha we opted for sweat equity. All items in the below images were MADE IN NY; We’re authentically made in Brooklyn, Made in Harlem by local creatives. Members and Participants contributed time and expertise and have teh ability to make product. Presale was a nautural option,
Trendwatching defines PRETAIL or PRESALE as
“A mode of consumption that sees consumers treat crowdfunding platforms as the new shopping malls. Why? Because that’s where current consumer demand for the most innovative, exciting and unique products and being served better than anywhere else, by an army of entrepreneurs and start-ups.”
We realized that we would need to address a wider group of issues if we were to effectively create a solution. One of those issues was not only funding the project but helping our members figure out their funding and financing in a realistic manner…
As project lead I opted to undertake teh first trial.
I looked into Social crowdfunding networks and found that few actually did any of the heavy lifting. That in fact I would be essentially taking my netwrk to their platforms. iIt dawned on me that what we needed was a network with supporters dedicated to supporting our particular niche, or a network that did the heavy lifting. The available options were not acceptable at this point.
How to Create an Organic Funding Campaign “DIY ”
(Do it Yourself) Crowdfunding Campaign
- Decide on type – I opted for a pre-tail offer for the first run and decided to creat a wishlist for resource contributions
- Figure our what is needed… and what you will offer
- Create a landing Page – a landing page should outline the details what why and how of your project. I also decided to add separate background info on crowdfunding
- Show proof of sweat equity input /added these (video and A gallery) to the Landing Page
- Make it easy to donate- PayPal or Amazon (see above)
- Kraft Your Pitch
- Tap into your networks Friends & Family, Email list , Social networks Facebook, Twitter and LinkedIn – that will take a while and hence the long run
- Ask them to tap into their Network
- Add updates stories incentive and share, share, share
- Track progress send out reports and thank you’s
- Lather rinse repeat
The tough part is creating the campaigns. I opted for hosting on this site and a gradual process that would reach out to my network , directly. Timing was also a challenge. Teh need was immediate so I set the first campaign to run through to the end of July. Since it would give me time to re-introduce myself and the project and it took several days to pull together! My estimation is that deploying it by direct contact will take about a week!
Next up “The Ask”