Feb 25, 2022
How to Set Your Crowdfunding Goal
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
In setting your crowdfunding goal, create a list of needs for growing your business.
From this list, create an overall fundraise goal.
Break the goal into three stages.
Set the first stage relatively low, as the initial funding is the most difficult.
Focus on family and friends to fund this stage.
Set the second stage target to reach your minimum fundraising goal.
This is the amount you need to implement your core growth plan.
Set the third stage target to reach your maximum fundraising goal.
This is the amount you need to fully install everything on your growth plan.
Stick to the fundraise plan and avoid overfunding as it causes dilution.
Keep your list of needs in mind, so you fund the most important elements of your growth plan first.
Remain flexible in deploying
your growth strategy as funding comes in fits and spurts and is
rarely a smooth and steady flow.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.
Let’s go startup something today.
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