Written by Scott Simpkin, Campaigns Lead. Scott has helped hundreds of businesses prepare and get ready to launch their crowdfunding campaigns.
At Seedrs, we often get asked by Founders what the fundraising process looks like, and when they should start planning for it. Our answer is always the same: start planning as soon as possible. Simply put, the better you prepare, the more successful your round will be. To paint a picture of what good preparation looks like, we asked Campaigns Lead Scott Simpkin to talk us through the steps to preparing and executing a successful crowdfunding campaign.
6 months out
- Work out how much money you need to reach the next level. It’s good to have a minimum and maximum.
- Write a pitch deck or investment memorandum explaining your story, and how you’re going to use this money to reach new heights. Some helpful resources:
- Go to trusted individuals in your network and get feedback on your deck. This also has the dual effect of letting people know you’re fundraising without bluntly asking them to invest.
5 months out
- Start arranging investment meetings with your network. Useful resources:
- Get an initial commitment; only verbal required. Keep booking meetings.
4 months out
START YOUR CROWDFUNDING JOURNEY (to extend your network)
- Apply to raise and arrange a call with someone at Seedrs.
- Plan outreach to your community and extended network with initial information gained from the call. Useful resource:
- Have a strategy meeting with someone at Seedrs. At the end of this call, you should have a plan in place to distribute the crowdfunding campaign. Useful resource:
3 months out
- Write your campaign pitch, and submit legal and DD information. Respond to review requests from the Seedrs team.
- Tell your community you’re crowdfunding, collect initial interest (through a pre-registration page).
- Create your campaign video.
2 months out
- Go privately live on the platform and get all your community to invest in this “priority access” phase.
- Go publicly live. The investment is now available to everyone.
- Ensure EVERYONE knows about your campaign. Customers, friends, family, LinkedIn contacts, acquaintances, dogs. If people don’t know about your campaign they can’t invest.
14 days out
- Close your campaign. Investment documentation is drafted and signed.
- The money lands in your bank account – JOB DONE!