I've been looking at options for how to fundraise for a new CPG product that I'm working on and saw a post on Hackernoon about crowdfunding.
In it, they share a "mindset zag" that encourages people to build a community around their product and then use crowdfunding to help make those customers owners/ambassadors.
It's great conceptually and I dig what Scott Hansen talks about in the article, though feel free to remove if this over the promotional line mentioned in the rules) but how does one do that when starting from zero? What happens if you're pre-launch and don't have the opportunity to HAVE customers that we can turn into investors?
I would love to give people such a great experience that they want to go along for the ride with us… I really think that'll be a good strategy for us and I'm down to try crowdfunding, I just don't know how to go from zero!
Any thoughts?
Scott Hansen says build a community to crowdfund from. But how?
byu/DudhWalaOP inEntrepreneur
Posted by DudhWalaOP
3 Comments
how do u build community when u have literally no audience yet? it feels like a chicken or egg situation that these entrepreneurs never really address tbh.
It always starts smaller than people think. Go where your potential customers already hang out, like Reddit, Discord, or small Facebook groups, and start talking to them. Share what you’re building, what’s working, what isn’t, and ask for honest feedback.
When people see that you’re building something real and open about the process, they naturally want to be part of it. You don’t need a big audience, just a few people who care and believe in what you’re doing. That’s the start of a community, and those early supporters often become your first backers.
All the founders I work with that are most successful at this start by helping people with their problems. I do the same.
Think of your market like a funnel. Segments from the top are:
KNOW YOU >
LIKE YOU >
TRUST YOU
First, the wide audience need to know that you solve their problems. Then you get them to like you by giving them value (usually for free). Then as they spend time with you they will trust you and participate in community. Once you reach a critical mass you can start to get commitments from them.
I know founders that have raised millions through reg CF or by reselling products this way. We built a community of 400 regularly active members with 5,000+ connected via the network.
Oh and remember they need a space and rituals and routines to follow. That can happen in many different ways.