COMMUNITY QUESTION:
UPCOMING:
What makes a crowdfunding campaign worth backing? Entrepreneurs talk about how a good story gets funders interested and involved
JULY
16
AUG
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AUG
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Social Media 101 for Business Learn the basics of social media for business on four major platforms Where: 10310 Jasper Ave., Unit 301 When: 11:30 a.m. to 1:30 p.m. Admission: $29. Tickets at Eventbrite.com, search “AWE”
Savvy Networking with Ease Learn how to boost your internal and external networking Where: Advanced Technology Centre (9650 20 Ave) When: 1:30 p.m. to 3 p.m. Admission: $75. Tickets at styleforsuccess.com/training
Go Golf: Leadership on the Links Share business experience and insight with other successful leaders out on the course Where: RedTail Landing Golf Club (P.O.Box 1070 Nisku) When: 12 p.m. to 6:30 p.m. Admission: $195 Tickets at goproductivity.ca/events
For more great events, visit capitalideasedmonton.com/edmontonevents.
PH OTO S U PPL I E D BY: L I SA PATR I C K
Lisa Patrick, founder of CBT and CBT Continuing Education (conventionbusinesstravel.com), believes that it is important to add a human element to a crowdfunding pitch. “Many entrepreneurs succeed because they know how to tell their story in a way that pulls their crowdfunding audience in and plays off of their emotions. We tend to feel first and think second. Your ability to leverage the power of a persuasive story in relation to your business, which will resonate with your audience and be extremely effective for support for your crowdfunding initiative. Simply put, humans are wired to love stories, the more compelling the story, the more likely you will be remembered, repeated and supported.” “Make your funding partners a part of the journey and experience. Provide them with the opportunity to share and contribute in the design & development process and find a common cause that you can all get on board with. When there are hundreds of thousands of opportunities, you need to stick out and offer more than the norm.” — Ashif Mawji, president of Trust Science — trustscience.com
“Just as with a new product or service, a crowdfunding campaign should solve a problem for someone. Having an interesting or thought-provoking reward for sponsoring the campaign is a cherry on top of the sundae.” — Kevin MacDonald, business consultant at L6S Business Consulting Inc — l6sbc.ca “To make your idea visible and successful you need to come up with a good pitch and story behind it. Focus on the problem you solve and have a good social media coverage. Sometimes even a bit of luck makes a difference.” — Yuliya Cruikshank, founder of Epic Experiences — twitter.com/@EpicXPs
“The funder has the luxury of choice when it comes to backing campaigns, so it can all come down to a personal decision. Many may use social media as a guide, as well as factor in the popularity of the campaign, the strength in rate of growth as well as if it is local or not.” — Henry Maisonneuve, project officer City of Edmonton — edmonton.ca
“Effective crowdfunding campaigns are built strategically. If the purpose of the campaign resonates with your target group, the question is how to get them to commit to the project. Some key aspects include telling your story and marketing your project so that they want to become involved, having a quality website and press materials and keeping your funders apprised of your progress by providing regular updates.” — Debbie Engel, owner of Debbie L. Engel Professional Corporation — depc.ca
“People back things that are truly life changing, exciting and inspiring.” — Kenya Kondo, founder of The Sharing Marketplace — GetNeighbor.com “The product has to be consumer facing, not selling to business. The platform chosen should have accomplished success in similar companies, indicating the investors are a fit. Then, the company itself needs to create the demand.” — Don Pare, chairman of RvC. Inc and Vice Chairman of the Clean Scene — rvcapital.ca
From “Why numbers are key to your strategy and growth” by Blaine Bertsch, founder of Dryrun (dryrun.com): “Before you develop a business strategy that can fuel the growth of your small business, you need to know what is powering your business today. Hidden in your numbers lies the info you need for a business strategy that uniquely fits your needs and will help you reach that next level..”
CAPITAL QUESTION: What’s the best thing you’ve learned through Capital Ideas? Capital Ideas is about to celebrate three years of sharing your business insights and entrepreneurial spirit, which is why Wellington Holbrook, executive vice-president of ATB Business, is curious to hear from you: What’s the best thing you’ve learned through Capital Ideas? You can answer the question in two ways: • Open today’s Capital Ideas email if you’re a member, or • Visit capitalideasedmonton.com We’ll publish the best answers, along with your business name and website address, on July 8. For more great information on what business owners in Alberta think, visit atb.com/businessbeat.
B U S I N E S S OW N E R S H E L P I N G B U S I N E S S OW N E R S
Roundup: Recent posts from Capital Ideas members From “14 signs you may be about to lose customers” by Tema Frank, owner of owner of Frank Reactions (frankonlinemarketing. com): “There are many metrics you can use to diagnose problems, but here are a few that are relatively simple to get and are clear warnings that something’s going wrong. That something is likely to hurt customer experience, even if you haven’t noticed it yet.”
These answers were in response to a question posed by Neetu Sidhu, Manager of Alberta BoostR (albertaboostr. ca), as part of our Community Question series. Here’s her take: “When there’s a real story behind the campaign filled with passion, dedication and a focus to make something real happen. That “something” could be an exciting new innovation, the birth of a startup, the next chapter for a tried-and-true venture or a movement to create positive impact on a local or global scale. Above all, campaigns that succeed are those that make the experience about the crowd because without the crowd they couldn’t succeed. Hence, the importance of rewards that compel supporters to go out of their way to back a campaign because what they get in return is something really special and enticing. It’s hard to resist backing a campaign that invites the crowd in, hooks them with a captivating story, spoils them with unique rewards and ultimately makes them a part of the journey. “
From “Three simple secrets to success” by Lisa Heerensperger, marketing manager at Grant Thornton (grantthornton.ca): “If you are trying to inspire others to help grow your business, your commitment to your mission is critical— as is your ability to communicate this to your team. If you don’t believe in yourself and your abilities, how do you expect others to?”
Find the full posts on these members’ LinkedIn profiles. We’ll curate a selection every Friday on our LinkedIn group, Capital Ideas Alberta. To bring yours to our attention, email it to hello@ capitalideasedmonton.com.
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