So what do I mean by usual suspects? Think government grants and loans. Let’s face it folks, the competition is fierce, the volume of paper work is high, the deadlines are tight, and well, it’s no easy walk in the park to get fed bucks. In my mind, forget about going this route and be more creative.
You want cash? Start thinking outside the box. Here are a few pointers to do just that:
Know what you’re doing and what you’re after
Whether you’re promoting a service, a product, or simply an experience, you must be organized. Now reread this sentence and put it to memory. Why so militant? Often we have great ideas but we forget that pitching a half-baked concept isn’t going to get us anywhere. It’s crucial you know what you’re doing and what you’re after (how much money). Outline everything—from inception to play-out, from your audience to costing your services, ingredients, packaging and beyond. Once you have your five Ws done (and written up nicely), then you can search for funding sources. Until then, sketch out your plan and be specific!
Crowd-funding
So what’s crowd-funding? Using an online platform, you can present your need for cash to web surfers and investors alike. How? Devise a simple marketing strategy/campaign whereby you provide info on your project and incentives for funding in exchange for real dough. In essence, you’re drawing people in, and when done well, creating an audience that will not only invest, but spread the word and follow you beyond this project/need for cash.
Kickstarter and IndieGoGo are two crowd-funding platforms and are not just for the arts (but don’t limit yourself, the net is a big place). Think environmental projects, design prototypes, event productions, fundraising plugs and flick development. Now, both sites have their pluses and minuses. Kickstarter requires you reach your funding goals or no money changes hands. Be careful then that you don’t overvalue what you need and most importantly, ask for what you can get.
IndieGoGo offers two fee options: get what you ask for and get dinged 4% or don’t reach your target and get 9% off—not to mention service charges for credit card processing. The choice is yours. But before you go to the web in hopes of making the big bucks, come up with a marketing strategy. Make an enticing video for prospective funders—and nothing longer than a couple of minutes. Provide details on your project and how the money earned with help you—but don’t go overboard, your goal is to engage, not bore. And don’t forget to offer incentives.
