2 of the Biggest Myths Surrounding Crowdfunding (Video) | Entrepreneur

October 19, 2015 ~ knjohn ~ Leave a comment

If the thought of crowdfunding conjures notions of converting untold masses, it might be helpful to envision the process as slightly more personalized.

“The number one myth [about crowdfunding] is the word ‘crowd’ itself,” says Sally Outlaw, CEO of Peerbackers, a consulting firm. “You have to go out there really one-to-one. It comes back down to personal relationships — the success of a campaign.”

For more from Outlaw, including the second-biggest myth surrounding crowdfunding, check out this short video.

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4 Funding Myths to Stop Believing Now | Entrepreneur

September 28, 2015 ~ knjohn ~ Leave a comment

Fundraising can be a tricky business, with many factors influencing the outcome. Avoid these funding myths and make sure you have the information and strategies you need to keep your company thriving.

Myth: Funding is synonomous with success.

Reality: Not every successful company seeks funds and not every company that does becomes successful in the long term. Don’t look for outside dollars because you think it’s impressive or could get you press attention. Funds from VCs or angel investors often come with management strings and pressure to perform. Ask yourself if you need money at all and if you’ve exhausted bootstrapping, loans from banks, friends or family, or even funding through revenue.