Questions

I am pretty novice in terms of technicalities of raising funds. Our company is a focussed research and data management firm. We started 1.5 years back and since then have been able to generate revenue of only USD 320,000. Now we feel the time has come for us to go to the next level and for that, need some funds for growth and expansion (product development, sales & marketing, etc). Which way of raising fund would be suitable for us and how much should we be able to raise looking at our past financials. Pls help..Thanks

In my mind Crowdfunding is the best way to raise funds without giving up anymore equity of your company. With a proven track record of sales and already ready and willing customers, you already have a tribe to promote to. Having already achieved success milestones shows potential backers that you are reliable and have what it takes to fulfill whatever it is you are raising money for.

If you are looking to raise a few hundred thousand or even a million you should plan on spending a minimum of $25,000 on campaign and have at least 12 fulltime members on team to create, launch, and run entire campaign.

I'm about to launch campaign in November and we will have tens of thousands into campaign, have 12 committed members and over 100 Ambassadors involved and our goal is to raise $1,000,000.

Crowdfunding get's more national media attention for your company, allows you to capture another market, and gives you a platform to market off of for life.

Hope this helps!


Answered 9 years ago

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