The LA SBDC Network offers no-cost virtual business workshops for small businesses in Los Angeles, Santa Barbara, and Ventura Counties.
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WEBINAR SERIES- Crowdfunding the Newest Way For Startups and Entrepreneurs to Raise Capital
August 12 @ 10:00 am - September 2 @ 12:00 pmfree
Series Overview: In the past, when someone wanted to fund something — be it a project, a company, or anything that required capital to start — there were a few ways to raise money. They could take on debt from a loan. They could raise money from friends, family members, and angel or VC investors. They could even take the “bootstrapping” route and scrounge up as much money as possible to fund the project themselves. In the late 2000s, a fourth option became viable for those trying to get something off the ground: crowdfunding.
In the last 10 years—crowdfunding has become a practical & relevant solution for startups seeking funds. Since 2008, when Kickstarter and IndieGoGo launched their fundraising platforms…crowdfunding has really come into its own as a viable funding solution with over 2000 platforms today. Despite COVID, in 2020 over $17.2B was raised alone in North America. That’s a 33% increase from 2019!
Please join us to learn more about how to raise money from a crowd of people pooling together small individual investments to provide capital needed to get a company or project off the ground. Just think individuals, charities or companies can create a campaign for specific causes and anyone can contribute.
Although crowdfunding is a funding mechanism it is also in truth a marketing/PR campaign as well. So, to provide a more complete series Debbie Goldfarb (marketing) and Michael DeDonato (finance) will join forces to teach this series.
The four classes for this series include:
-Class 1-Crowdfunding Overview-Thursday, August 12th-10a-12p
-Class 2-Indepth Review of Crowdfunding-Thursday, August 19th, 10a-12p
-Class 3-Crowdfunding Models/Platforms-Thursday, August 26th, 10a-12p
-Class 4-Class Presentations & Practicum—Thursday, Sept 2nd, 10a-12p
Operating Rules: This is a series…please make sure and attend classes in the sequential order listed. Participation is a critical component of this class—be prepared to complete assigned homework, and an active part of the class with audio & visual on. Prior to attending this series it is reccommended that you have attended Marketing 101, Market Intelligence Series, Business Plans & General & Angel Funding classes.
-Class 1-Crowdfunding Overview: The main benefit of crowdfunding is that you, as an entrepreneur can now raise “for-profit” and “non-profit” funds outside of the more conventional means. During this class we will explain what crowdfunding is and how it works. At the end of class—you will be given a list of Crowdfunding Platforms. For homework, please select a crowdfunding platform that you think works best for raising funds for your business.
-Class 2- Indepth Review about Crowdfunding: Due to the proliferation of crowdfunding platforms and importance of crowdfunding as an alternative funding mechanism—to ensure a deeper understanding we will provide an in-depth review & analysis about crowdfunding. This will include details on the various platforms, legal & regulatory specifics as well as brief highlights of successful and failed campaigns. For this classes homework you will be asked to review current campaigns and develop your own compelling story needed for a successful fundraise.
-Class 3-Crowdfunding Models/Platforms: There are four primary crowdfunding models (donation, reward, equity & debt). During this class we will explain in detail the purpose of each model and highlight corresponding supporting platforms. At the end of class—you will have access to a folder of 20+ platforms and guides. For homework, be prepared to explain the guide or platform selected.
-Class 4—Class Presentations—Please be prepared to present your crowdfunding model, platform, and 1 page campaign summary.
Presented by: Debbie Goldfarb and Michael DeDonato