GRIT: A Crowdfunding Essential

It’s been a week and no one has backed my campaign, what do I do?

Giving up is not the right answer. You’ve put a lot of effort into setting up your campaign, you can’t give up yet!

This is where grit comes in. The American Psychologist, Angela Duckworth,  who is the leading authority on Grit describes the term as ‘perseverance and passion for long-term goals.

Crowdfunding success is having grit, following through with your campaign, not giving up after a bad first week.

So what can I do about my funding problems? How can I show my grit?

Well you can start by answering these questions:

  • Have you told everyone you know?
  • Have you reached out to people beyond Social Media?
  • Do you have a clear idea of who is going to back your campaign?
  • Do you have a group of people helping you spread the word
  • Have you asked people for their opinion on your campaign?

A great start to getting funding is to read our blog post on creating a Funding Strategy. Read it here.

If you feel you need to restrategise your campaign send us an email or give us call. We’re here to help you achieve the funding you need.

At the end of the day it’s important to realise that it’s up to you to get the funding you need. Having grit throughout the journey will help in achieving your funding goals

Your Thundafund Campaign is just the start of your project’s journey. Grit will play a serious role in the success or failure of your venture. To learn more about the power of Grit and how it can be learnt check out the Freakonomics podcast on Grit here. Angela Duckworth has a great TED talk, watch it here

Thundafund DAC Presentation

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It was an overcast Friday morning in Gauteng as two brave crowdfunding enthusiasts were gearing up to present a crowdfunding talk to the Department of Arts and Culture (DAC). As the audience of DAC employees gathered, Patrick Schofield led the charge for the morning by setting the tone of the presentation with an overview of what crowdfunding is, Thundafund’s history and briefly touched on the success of the Creative Crowdfunding Economy Development Project (CCEDP).

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Then it was Thundafund’s Marketing Manager’s (or Artist-in-Residence) turn to dive deeper in the state of crowdfunding in the developing world and to further map out Thundafund’s place in the crowdfunding sector. Winslow Schalkwyk spoke from his experience as a freelance artist in South Africa and how this exciting funding model allows artists and creatives to grow their businesses and brands.

Interspersed with fervent questions and answers, the Thundafund team worked their way through the presentation, highlighting all the areas of success and spoke to how, with the support of DAC, they were able to have a success rate of over 80% on the CCEDP.

But, more than just reporting on the CCEDP, the team set out to educate the attendees on what crowdfunding is and how this exciting new funding model can change the landscape of funding in South Africa’s creative sector.

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Through the CCEDP, Thundafund has been able to produce Crowdfunding Education Tools. These tools, ranging from videos to workshops, will assist the budding crowdfunder in their quest to have a successful campaign with Thundafund. Another advantage of these education tools is that ThundaFund is now able to reach areas and people in South Africa, wherever there is internet available.

To the future:

Thundafund is currently in the development stage of a new website which is mobile-responsive as well. The team have been making notes from all the feedback received from Project Creators and Backers, and there are many changes being implemented to take the crowdfunding platform to the next level.

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Thundafund has produced new crowdfunding education videos with Zootee Studios

 

The African Crowdfunding Association

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African Crowdfunding Association (ACfA) Established to Provide Equal Access to Capital for All.

On Wednesday 25 November 2015, Thundafund and Wealth Migrate announced the launch of the African Crowdfunding Association (ACfA).

Wealth Migrate and Thundafund have partnered to lay the groundwork for ACfA and are urging policy makers and others passionate about increasing access to capital to join them. ACfA will be the industry association for Crowdfunding Professionals and Companies in Africa.

The goals of the ACfA are:

  • To lobby for crowdfunding legislation creation and reforms,
  • Contribute to an increase in public awareness of crowdfunding,
  • And to create a more cohesive industry structure in Africa that protects investors and democratizes access to capital for all Africans.

Crowdfunding, which has already made huge economic waves in the United States, Europe and Asia, is a method of financing or raising capital that harnesses the power of the masses, or the “crowd” to fund a project, business or creative and innovative endeavour, typically via the Internet.

In nations where Crowdfunding is regulated and has governing legislation, it has leveled the economic playing field, giving access to capital needed for wealth creation to women and minorities that typically are overlooked by traditional capital markets.

“There is a huge wealth gap in the emerging world, and crowdfunding is a solution to close this gap,” says Scott Picken, founding member of the African Crowdfunding Association and CEO of Wealth Migrate, “crowdfunding can provide equal opportunity and equal access to capital that is essential for wealth creation within underserved populations. ACfA will educate not only the public, but also the policymakers about the benefits of crowdfunding for Africa.”

“We see crowdfunding as the democratization of financing for entrepreneurs,” says Patrick Schofield, CEO and co-founder of Thundafund, “thus far we have been thrilled to see the outpouring of African and global support for African entrepreneurs that have had the courage to launch new ideas into the world. There are so many inspiring entrepreneurs in Africa who could do so much to change the world with access to capital. Crowdfunding is the next-gen solution to Africa’s development agenda.”

One of the most exciting aspects is the support and recognition ACfA has received from similar industry bodies around the world, that have already been through this process.

Xiaochen Zhang who set up Crowdfund China Society and works on crowdfunding for the World Bank has agreed to sit on the ACfA board. Dan Marom who advised and got regulations passed by the European Union has also agreed to sit on the board. Along with all the other parties above they are providing the ACfA with a blueprint and framework which has already worked elsewhere in the world.

Organizations and individuals that have given their support include:
• M-Changa
• Jumpstarter
• Realty Africa
• Realty Wealth
• Babandu
• Back-a-Buddy
• 234give.com
• Uganda Crowdfunding Network
• The Crowdfunding Institute of Australia
• The Crowdfunding Professional Association
• The China Crowdfunding Society
• The UK Crowdfunding Association

• Carl Esposti, Founder of Crowdsourcing and Massolution – http://www.crowdsourcing.org
• Dan Marom, renowned expert in the field of crowdfunding and author of the pioneering books, “The Crowdfunding Revolution” (2010, 2012) & “Crowdfunding: The corporate era” (2015).
• Matthew Pinter, Chairman of the Crowd Funding Institute of Australia – https://www.cfinstitute.org/
• Frank Mukahanana, director of the UK Crowdfunding Association – http://www.ukcfa.org.uk/
• Paul Niederer, leading authority on Investor Aggregation Solutions, Collaborative Investment and Crowdsourcing.
• Ronald Kleverlaan, Co-Founder of the European Crowdfunding Network; Founder of Crowdfunding Hub.
• Scott McIntyre, Vice President of the Crowdfunding Professional Association – http://www.cfpa.org/
• Xiaochen Zhang, Co-Founder of the Crowdfund China Society; Director at the Crowdfunding Professional Association.
• Joy Schoffler, Principal of Leverage PR and CFIRA board member.

For more information email info@africancrowd.com

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Did somebody say Crowdfunding Workshops?!?

Get ready South Africa – we are coming your way.

Excitement all around as we are having a second round of Crowdfunding Workshops and Crowdfunding Intro Sessions across South Africa.

Do you, or someone you know, have an idea, innovation or dream that needs seed capital? Always wondered what crowdfunding the Thundafund way is about? Then these workshops are for you!

Our workshops – known informally as the gospel of crowdfunding according to Thundafund – will take place at these venues across Mzansi:

20 November: Cape Town Crowdfunding 101
23 November: Johannesburg Intro to Crowdfunding at Nomads & Co
24 November: Johannesburg Crowdfunding Masterclass at Nomads & Co

Calling all performers, writers, musicians and artists, come crowdfund your idea

Thundafund and the Department of Arts and Culture

THUNDAFUND and the DEPARTMENT OF ARTS AND CULTURE invite applications for an exciting funding initiative, Crowdfunding Creative Development Project

The Department of Arts and Culture (DAC) partnered with Thundafund in developing crowdfunding as a viable option for a wide spectrum of people, specifically for those from less affluent and historically less networked sectors. The DAC/Thundafund project are looking to the performing arts fields, including theatre, physical  theatre, dance, music and performance art projects to realise their potential through the Thundafund crowdfunding site to test, launch and market their creative endeavors to South Africa and the world. One of the most exciting outcomes of the development of the Thundafund crowdfunding platform is that it activates communities to support the creative industries directly.

WHAT WE HAVE

  • An established and trusted internet based crowdfunding platform.
  • Dedicated accelerators to market and publicize your project.
  • T-Bucks – a Backing it Forward ‘promotion’ of the Thundabucks 200 (t-Bucks200) (T’s&C’s)

WHAT WE WANT

  • Exciting projects in the  performing arts fields, including theatre, physical  theatre, dance, music and performance art.
  • Projects that have an impact on historically disadvantaged individuals and/or  communities either as participants or audiences.

WHAT YOU GET

  • Assistance and mentoring of your crowdfunding appeal for your project.
  • Personalized assistance from a dedicated accelerator.
  • A percentage of matched funding dependant on your project achieving its funding goal through the ‘T-Bucks’ promotion.
  • Loads of publicity.
  • Support and encouragement from the Thundafund team.

WHAT YOU NEED TO DO

Download the application form: DAC Project Submission Thundafund form

Submit the completed application form to hello@thundafund.com with the subject line THUNDAFUND and the DEPARTMENT OF ARTS AND CULTURE invite applications for an exciting funding initiative.

Please note that there is a limit of 12 selected projects who will qualify for this opportunity for an Accelerator to assist you on your crowdfunding campaign and to qualify for the ‘t-Bucks 200’ promotion.

QUESTIONS? SUGGESTIONS?

If you have any questions on crowdfunding, please read the Crowdfunding 101 documents, Crowdfunding Checklist and do research on some Thundafund campaigns to get an idea for reward offerings and structure.

If you have further questions for ‘The Call Out of Projects’, contact marketing@thundafund.com with any questions or suggestions.

Calling all Accelerators

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Do you know your Shakespeare from your Stoppard, your Balletomane from your Breakdance Crew?

Do you include # in general conversation and compile status updates in your head ?

THEN Thundafund the South African Creative Crowdfunding platform needs you!

We will be supporting a number of creative projects and we require 3 Accelerators who are able to

Provide guidance for project creators in

How to build their campaigns for success
How to structure their rewards
How to build their marketing & crowd-promotion for their campaign

And implement:
An online & offline project promotion campaign.

You will need to have the following attributes:

  • A thorough understanding of the online social media space with registered and active presence on all major social media channels
  • A thorough understanding of the industry sector in which the project is launching
  • Already well established personal networks in the promotion / marketing space
  • Ability to confidently engage with people on & off line
  • A reliable and consistent communicator
  • A passion for online engagement and new project development

A basic monthly salary of R13,500 for the 4 month period May to August is offered.

You will be supporting 3 different projects and hours and place of work are flexible.

We are looking for 2 Cape Town based and 1 Joburg based accelerator.

You will need to have internet access and be available from the 11th May

 Please submit a

  • Letter of motivation
  • Your CV
  • Details of your online presence ( either in your personal/professional capacity or proxy accounts) to TraceySaunders@thundafund.com

 

Application close on the 30th April 2015

Your Homework: Do At Least One Customer Interview

Thundafund Crowdfunding Customer ValidationSome solid advice from Dave Duarte on the importance of customer validation!

Customer interviews are essential as part of the marketing process, as they help us make sure that what we are offering actually has willing buyers, and that we’re presenting it in a way that is compelling for these potential buyers.

Here’s some suggestions for how you’ll structure your interview… Feel free to go off-script or create your own questions. (Plus, shiny gold star for anyone who does 5 or more interviews!) Continue reading

A Step-by-Step Guide to Startup Customer Acquistion

The road to startup customer acquisition (also known as “The Island of Greatness”) is a long one! You’re in the process of crowdfunding or you’ve got some funding, you’ve got a product hundreds of people love and you’ve got a great story to tell. Now what…? How do you take it to the next level and scale?

Well, the answer is simple (but takes a lot of work)! A combination of content marketing, PR and social media will take your startup to new heights. You’ll reach your target audience, build thought leadership, foster a strong community, position yourself in front of industry influencers – the whole nine yards.

If you’ve ever wondered how we help our clients acquire new customers and scale to the next level, you won’t want to miss this. You can start right here and right now. So, without further ado, here’s OnBoardly’s step-by-step guide to startup customer acquisition…

Thundafund Startup Adventure

Via Onboardly

Stand Out From The Crowd In 5 Simple Steps

Thundafund Crowdfunding Stand Out From The Crowd

If you’re in business, chances are you’re trying to get someone – a customer or prospective client – to do something, whether it’s call you, visit your website, try your product or back your crowdfunding campaign… But in a crowded marketplace, how do you distinguish yourself from the competition?

Here’s how your business can better educate and communicate with your customers:  Continue reading