{"id":761,"date":"2013-04-17T16:35:21","date_gmt":"2013-04-17T16:35:21","guid":{"rendered":"http:\/\/rosarioconsulting.net\/inspiredtoeducate\/?p=761"},"modified":"2014-06-21T13:12:25","modified_gmt":"2014-06-21T13:12:25","slug":"how-to-fund-your-cause-or-idea-with-crowd-funding","status":"publish","type":"post","link":"http:\/\/inspiredtoeducate.net\/inspiredtoeducate\/how-to-fund-your-cause-or-idea-with-crowd-funding\/","title":{"rendered":"How to Fund Your Cause or Idea with Crowd Funding?"},"content":{"rendered":"\n<!-- Facebook Like Button v1.9.6 BEGIN [http:\/\/blog.bottomlessinc.com] -->\n<iframe src=\"http:\/\/www.facebook.com\/plugins\/like.php?href=http%3A%2F%2Finspiredtoeducate.net%2Finspiredtoeducate%2Fhow-to-fund-your-cause-or-idea-with-crowd-funding%2F&amp;layout=standard&amp;show_faces=false&amp;width=450&amp;action=like&amp;colorscheme=light\" scrolling=\"no\" frameborder=\"0\" allowTransparency=\"true\" style=\"border:none; overflow:hidden; width:450px; height: 30px; align: left; margin: 2px 0px 2px 0px\"><\/iframe>\n<!-- Facebook Like Button END -->\n<p><a href=\"http:\/\/rosarioconsulting.net\/inspiredtoeducate\/wp-content\/uploads\/2013\/04\/lightbulb.jpg\"><img loading=\"lazy\" class=\"alignnone size-full wp-image-763\" title=\"lightbulb\" src=\"http:\/\/rosarioconsulting.net\/inspiredtoeducate\/wp-content\/uploads\/2013\/04\/lightbulb.jpg\" alt=\"lightbulb\" width=\"640\" height=\"486\" srcset=\"http:\/\/inspiredtoeducate.net\/inspiredtoeducate\/wp-content\/uploads\/2013\/04\/lightbulb.jpg 640w, http:\/\/inspiredtoeducate.net\/inspiredtoeducate\/wp-content\/uploads\/2013\/04\/lightbulb-300x227.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<p>Are you looking for a way to fund your dream project or support your cause?\u00a0 The act of making a new product, an innovation program or creating a new service can be very exciting.\u00a0\u00a0\u00a0 When planning any venture, leadership has to answer the question:\u00a0 How do we fund this idea?<\/p>\n<p>It breaks my heart to hear stories of teachers and faculty struggling to serve their students because funding is tight.\u00a0\u00a0 A huge barrier to adopting new educational technology is cost.\u00a0\u00a0 As we try to prepare our students to become the next generation of leaders, innovators, and teachers, it becomes imperative to provide technology resources to our students.\u00a0\u00a0 Access to educational technology and resources is especially challenging in our poorest\u00a0neighbourhoods.\u00a0\u00a0 We do not want to increase divide between the rich and poor because of a lack of tools and resources.\u00a0\u00a0 How can we empower the community to help?<\/p>\n<p>To share a personal story, my wife has been researching ways that she can offer an undergraduate research program at her school.\u00a0\u00a0 We have been exploring <a href=\"http:\/\/diybio.org\/\" target=\"_blank\">DIY Biology<\/a> and related web sites, to find ways to establish a research lab at lower cost.\u00a0\u00a0\u00a0 As grant funding becomes more competitive, we have started exploring other research alternatives.<\/p>\n<p><strong>What is Crowd Funding?\u00a0 <\/strong><\/p>\n<p>\u201cCrowd funding\u201d is a movement enabling leaders and makers to ask their community to financially support a cause or project.\u00a0\u00a0 Don\u2019t non-profit communities already do this?\u00a0\u00a0 Why is this new?\u00a0\u00a0 I believe the movement of \u201ccrowd funding\u201d works well due to the network effects of the Internet.\u00a0\u00a0 If an idea is worth sharing, it will be shared!\u00a0\u00a0 If a cause addresses a deep need in the community, the community will respond, share and help.<\/p>\n<p>As we have researched this topic, I wanted to share a few insights, links and resources that can help you fund your cause or idea using \u201ccrowd funding.\u201d<\/p>\n<p><strong>How to Fund Your Idea with Crowd Funding?<\/strong><\/p>\n<p>1) \u00a0<strong>Find ways to add value to your community today: <\/strong>\u00a0Are there ways that you can share insight and knowledge with your community today using social media or a blog?\u00a0\u00a0 How can you serve your community today with information or practical tips?\u00a0\u00a0 There is research showing that having 1000 FaceBook connections that are your \u201craving fans\u201d increases the probability that you can fund your idea using a crowd funding site.\u00a0\u00a0 Building a community around your idea is your first step.\u00a0 (Refer to \u201cThe Art of Community\u201d by Jono Bacon)<\/p>\n<p>2) \u00a0<strong>Cast your vision and tell your story:<\/strong>\u00a0 As you design your crowd funding campaign, it\u2019s very important to communicate your story with clarity.\u00a0\u00a0 The story should include a brief <a href=\"http:\/\/michaelhyatt.com\/the-4-components-of-a-compelling-elevator-pitch.html\" target=\"_blank\">elevator pitch summarizing your idea<\/a>.\u00a0\u00a0 \u00a0 \u00a0Whether you are presenting a project or cause, it\u2019s also important to connect your community with the mission and vision driving it.\u00a0\u00a0\u00a0 You may consider reviewing the excellent TED talk by Simon Sinek that provides <a title=\"Simon Sinek: How great leaders and teachers inspire action?\" href=\"http:\/\/rosarioconsulting.net\/inspiredtoeducate\/?p=267\" target=\"_blank\">insights into how great leaders inspire action<\/a>.<\/p>\n<p>3) \u00a0<strong>Learn from others:<\/strong>\u00a0 As we have started the process of researching crowd funding options for Sarah, we have found value in review project ideas that won and lost.\u00a0\u00a0\u00a0 For the Kickstarter community, you can use tools like <a href=\"http:\/\/www.kicktraq.com\/\">http:\/\/www.kicktraq.com<\/a> to gain insight into the velocity of various project ideas.\u00a0\u00a0 How did the better projects present their story?\u00a0 If a project did not succeed in funding, what were the lessons learned?<\/p>\n<p>4) \u00a0<strong>Don\u2019t forget about incentive planning: \u00a0<\/strong>Some crowd funding websites require projects to include an incentive program.\u00a0\u00a0\u00a0 When planning the amount that you need to raise for your project, make sure you account for costs related to your incentives.\u00a0\u00a0 You need to make sure to forecast the funding of all your incentives in addition to the costs related to funding your project.<\/p>\n<p>5) \u00a0<strong>Additional reading and inspiration<\/strong><\/p>\n<ol>\n<li><a href=\"http:\/\/hopemob.org\/\">http:\/\/hopemob.org\/<\/a><\/li>\n<li>Nice executive summary of various crowd funding sites: <a href=\"http:\/\/www.hongkiat.com\/blog\/crowdfunding-sites\/\">http:\/\/www.hongkiat.com\/blog\/crowdfunding-sites\/<\/a><\/li>\n<li>Free Book on running a Kickstarter Project: <a href=\"http:\/\/kickstarterguide.com\/files\/2012\/07\/A-Kickstarters-Guide.pdf\">http:\/\/kickstarterguide.com\/files\/2012\/07\/A-Kickstarters-Guide.pdf<\/a><\/li>\n<li><a href=\" http:\/\/venturebeat.com\/2012\/07\/17\/the-untold-story-behind-kickstarter-stats-infographic\/\" target=\"_blank\">The untold story behind Kickstarter stats [infographic]<\/a><\/li>\n<li><a href=\"http:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2088298\" target=\"_blank\">&#8220;The Dynamics of Crowdfunding: Determinants of Success and Failure&#8221;<\/a> by Ethan R. Mollick &#8211; University of Pennsylvania &#8211; Wharton School<\/li>\n<\/ol>\n<div><\/div>\n<div><a title=\"7 Lessons Learned from Teaching Students to propose an Idea for Kickstarter\" href=\"http:\/\/rosarioconsulting.net\/inspiredtoeducate\/?p=724\" target=\"_blank\">We are very thankful to our student collaborators from Mercer University<\/a> who have helped us study the proposal process. \u00a0 Collectively, we have done a great deal of research on this topic. \u00a0 If we can help you in anyway, please let us know. \u00a0 \u00a0Please leave a comment below. \u00a0 \u00a0We would love to support other innovators in the community.<\/div>\n<p>&nbsp;<\/p>\n<h2><strong><a href=\"https:\/\/www.facebook.com\/groups\/1454258828152058\/1467856320125642\/?notif_t=like\" target=\"_blank\">Join the Middle Georgia Makers FaceBook Group\u00a0<\/a><\/strong><\/h2>\n<p>Other posts on InspiredToEducate.Net:<\/p>\n<ul>\n<li><a title=\"7 Lessons Learned from Teaching Students to propose an Idea for Kickstarter\" href=\"http:\/\/rosarioconsulting.net\/inspiredtoeducate\/?p=724\" target=\"_blank\">7 Lessons Learned from Teaching Students to propose an Idea for Kickstarter<\/a><\/li>\n<li><a title=\"5 ways to get more results in your teaching environment.\" href=\"http:\/\/rosarioconsulting.net\/inspiredtoeducate\/?p=246\" target=\"_blank\">5 ways to get more results<\/a>.<\/li>\n<li><a title=\"Want to build team collaboration, communication, and productivity? Make work visible!\" href=\"http:\/\/rosarioconsulting.net\/inspiredtoeducate\/?p=706\" target=\"_blank\">Want to build team collaboration, communication, and productivity? Make work visible!<\/a><\/li>\n<li><a style=\"font-weight: inherit; font-style: inherit; color: #0085cf;\" href=\"http:\/\/inspiredtoeducate.net\/inspiredtoeducate\/?p=1388\" target=\"_blank\">10+ Lessons To Help You Grow Your Skills as a Developer from Mercer GDG<\/a><\/li>\n<li><a style=\"font-weight: inherit; font-style: inherit; color: #0085cf;\" href=\"http:\/\/inspiredtoeducate.net\/inspiredtoeducate\/?p=1238\" target=\"_blank\">17 Fun Tools To Teach Kids To Code by @ChrisBetcher<\/a><\/li>\n<li><a style=\"font-weight: inherit; font-style: inherit; color: #0085cf;\" title=\"7 Reasons Why The Makers Movement Is Revolutionary\" href=\"http:\/\/inspiredtoeducate.net\/inspiredtoeducate\/?p=942\">7 Reasons Why The Makers Movement Is Revolutionary<\/a><\/li>\n<li><a style=\"font-weight: inherit; font-style: inherit; color: #0085cf;\" title=\"Maker Camp: Free Virtual Summer Camp for Teens\" href=\"http:\/\/inspiredtoeducate.net\/inspiredtoeducate\/?p=961\">Maker Camp: Free Virtual Summer Camp For Teens<\/a><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Photo from\u00a0<a href=\"http:\/\/www.flickr.com\/photos\/qisur\/4351196974\/\">http:\/\/www.flickr.com\/photos\/qisur\/4351196974\/<\/a><\/p>\n\n<!-- Facebook Like Button v1.9.6 BEGIN [http:\/\/blog.bottomlessinc.com] -->\n<iframe src=\"http:\/\/www.facebook.com\/plugins\/like.php?href=http%3A%2F%2Finspiredtoeducate.net%2Finspiredtoeducate%2Fhow-to-fund-your-cause-or-idea-with-crowd-funding%2F&amp;layout=standard&amp;show_faces=false&amp;width=450&amp;action=like&amp;colorscheme=light\" scrolling=\"no\" frameborder=\"0\" allowTransparency=\"true\" style=\"border:none; overflow:hidden; width:450px; height: 30px; align: left; margin: 2px 0px 2px 0px\"><\/iframe>\n<!-- Facebook Like Button END -->\n","protected":false},"excerpt":{"rendered":"<p>Are you looking for a way to fund your dream project or support your cause?\u00a0 The act of making a new product, an innovation program or creating a new service can be very exciting.\u00a0\u00a0\u00a0 When planning any venture, leadership has to answer the question:\u00a0 How do we fund this idea? [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[14,6,8],"tags":[],"_links":{"self":[{"href":"http:\/\/inspiredtoeducate.net\/inspiredtoeducate\/wp-json\/wp\/v2\/posts\/761"}],"collection":[{"href":"http:\/\/inspiredtoeducate.net\/inspiredtoeducate\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/inspiredtoeducate.net\/inspiredtoeducate\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/inspiredtoeducate.net\/inspiredtoeducate\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/inspiredtoeducate.net\/inspiredtoeducate\/wp-json\/wp\/v2\/comments?post=761"}],"version-history":[{"count":4,"href":"http:\/\/inspiredtoeducate.net\/inspiredtoeducate\/wp-json\/wp\/v2\/posts\/761\/revisions"}],"predecessor-version":[{"id":1528,"href":"http:\/\/inspiredtoeducate.net\/inspiredtoeducate\/wp-json\/wp\/v2\/posts\/761\/revisions\/1528"}],"wp:attachment":[{"href":"http:\/\/inspiredtoeducate.net\/inspiredtoeducate\/wp-json\/wp\/v2\/media?parent=761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/inspiredtoeducate.net\/inspiredtoeducate\/wp-json\/wp\/v2\/categories?post=761"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/inspiredtoeducate.net\/inspiredtoeducate\/wp-json\/wp\/v2\/tags?post=761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}