There are five basic types of crowdfunding —donation-based, rewards-based, lending, equity and royalty. The Local Crowd platform fits into two categories —rewards and donations—because our contributors can receive rewards in exchange for contributing to a business project, or they can make a simple donation to a cause they support.

The “rewards” space offers tons of opportunities for creativity and fun! So much fun, in fact, that I want to dedicate my next few blogs to digging into some different campaigns and the amazing rewards the creators have dreamed up and offered.

I’ll be covering four types of rewards. First, Pre-Sale rewards are a great way for businesses to get people to try out their products and services. Next, “Experience” rewards include activities like tours, receptions, classes, special events and parties. Naming rewards give contributors the opportunity to have their name or picture on something (like a menu item, or brick in a wall) and Sponsored Rewards are donated by other businesses or individuals who support the project. Stay tuned — these real-life stories will inspire you and stimulate your creative juices!

 

 


headshot of Katelyn Heller customer service for The Local Crowd

Katelyn Heller

Author | TLC Success Coach

Adventure-seeking success coach who loves exploring Wyoming’s landscapes with my two fur babies.

One important strategy for crowdfunding success is building a good team—as crowdfunding studies have shown us that teams of four or more people raise more money. Yet, this also seems to be a huge stumbling block—capsulized in the frequent refrain, “But, Katelyn, I don’t have anyone to be on my team!”

As a success coach, I always want to respond with a big hug and reassurance, “Just look around you and it will be easier than you think!”

The first person on your team is, of course, you! (One down, three to go!)  Now take a look around you at the people in your life—your Mom, Dad, siblings, extended family, friends, coworkers, contacts from school, church, clubs and social media. Do you have a cousin who enjoys creating videos, or a best friend who knows all the ins and outs of every social media platform?

The members of your expert team may be hidden in plain sight—right there amidst the things you participate in every day. All you need to do is recognize this and ask!

 


headshot of Katelyn Heller customer service for The Local Crowd

Katelyn Heller

Author | TLC Success Coach

Adventure-seeking success coach who loves exploring Wyoming’s landscapes with my two fur babies.