The 8 Best Crowdfunding Books of 2020
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There is no shortage of strategies for launching a new business. Nowadays the options seem endless. Crowdfunding has taken over as one of the most innovative and effective ways for a new company to get funded and fast.
Did you believe Kevin Costner when he said: “if you build it, they will come”? Unfortunately, that is not how it works in the real world. Thousands of crowdfunding attempts have failed miserably. Having a viable product is just one part of the equation of having a successful crowdfunded business. Following proven strategies to launch your unique product is the most efficient use of your time. Throwing it out there without laying the groundwork usually ends in disaster.
Crowdfunding allows you to test the market before investing tons of your own money. It has helped many people grow a successful business from scratch. Learn how to harness the power of crowdfunding to make your dreams a reality. Read on to see the best books to buy when it comes to learning more about crowdfunding and start your business off on the right foot.
Best for Straight Talk and Most Current: Six Figure Crowdfunding
Hot of the press, Six Figure Crowdfunding is the most current book on the list! As you can tell from the title, this author is not messing around. Derek Miller is a crowdfunding consultant who has successfully raised $4.7 million spanning three Cyanide and Happiness Kickstarter Campaigns (which is a downloadable adventure game), and each campaign helped create a self-sustaining company.
He speaks directly to the modern entrepreneur in a fresh and bold way. Derek has taken all of the courses and read all of the books and has experienced the entire process firsthand. He has compiled all of his knowledge along with help from other creators to provide a concise, informative crowdfunding guide. Learn how to find your target market and give them what they want. If you are not offended by strong language and want to learn the ins and outs of crowdfunding in a clear-cut and often hilarious style, Six Figure Crowdfunding has got you covered.
Best for the Beginner: Step by Step Crowdfunding
It is not a secret that nearly two-thirds of crowdfunding campaigns fail. Step By Step Crowdfunding by Joseph Hogue, CFA starts you at the very beginning of conceptualizing an idea. You will learn strategies to market the project by learning who to connect with, including crowdfunding bloggers and journalist. Find out how to build a connection with your community, so they will not only help you fund this project but others to come in the future.
Step By Step Crowdfunding is probably the most to-the-point guide out there. It skips over the history of crowdfunding and how it is the newest most exciting way to fund a project and jumps right into the actions needed to get your project funded. The book is outlined in three parts. It begins with “Pre-Launch Crowdfunding” then “Running a Successful Crowdfunding Campaign” and concludes with “Post-Campaign Fulfillment and Community.” Learning these steps long before implementing them will help you get in the “Fully Funded Club.”
Best for Regrouping: Hacking Kickstarter, Indiegogo
Have you already launched a crowdfunding campaign on Kickstarter or Indiegogo with little luck? Do not give up hope. Author Patrice Williams Marks goes over common missing elements of crowdfunding campaigns, building a tribe, social media strategies, and how to land partners. What makes this book a little different is that there is a section for relaunching a failed campaign. She teaches strategies not often found in other crowdsourcing books such as how to get featured in Kickstarter and Indiegogo's newsletters and how to post to other websites for added exposure.
Crowdfunding is one giant experiment. If one thing does not work, it is time to look for a new strategy. Ms. Marks offers up several proven concepts that can take a crowdfunding campaign to the next level regardless of the starting point.
Best for Using The Kickstarter Platform: The Kickstarter Handbook
Kickstarter launched in 2009. Its stated mission is “to help bring creative projects to life.” And the Kickstarter Handbook is the best guide for taking on this platform to fund your project. There are endless possibilities from video games, to board games, fitness gear, to cookbooks, and every idea has potential to get funded if you plan ahead. Don Steinberg, a business journalist, has put together an excellent resource full of inspiring interviews that offer strategies from different people.
Even more important, the author writes this book mainly as a “how to” and goes over the process in great detail with proven strategies for success. Understanding the platform before starting a crowdfunding project is essential to success. You will learn things like creating an enticing video, different funding levels, and rewards. Each component is vital to setting up a great Kickstarter campaign.
Best for Raising Money for Tangible Products: A Crowdfunder's Strategy Guide
What you need to understand crowdfunding is expert advice. Jamey Stegmaier is the expert you have been looking for. He has raised $3.2 million through seven successful Kickstarter campaigns. This book goes over forty different case studies showcasing great success stories and tragic failures. Building a network of people who support you and your product is key to getting funded. Stegmaier talks about how to connect with your backers, how to treat them as people and not ATMs and structure the perfect pitch. He goes over his own experiences including all of the mistakes he has made and how to avoid them. Creating raving fans takes time. Stegmaier's background is in launching tabletop games, but his philosophy can be used in launching most products. A Crowdfunder's Strategy Guide includes a one week before launch checklist. It will connect you to multiple resources to give you even more information on creating a successful launch.
Best for Selling Shares: Equity Crowdfunding
Learning how to raise money for a new business can be daunting. Talking with Silicone Valley Venture Capitalist is not right for everyone. Equity Funding is a great alternative yet it is unlike crowdfunding websites like Kickstarter and Indiegogo. It allows you to trade money for shares in the company versus taking pre-orders of the product. It can prove to be very useful and help you get larger investments verses pre-selling.
Author Nathan Rose has firsthand experience with advising companies with initial public offerings. His expertise will guide you through the process to help build momentum, construct a marketing plan, and teach you the biggest mistakes to avoid. This book explains equity crowdfunding on a global level featuring contributions from over ten countries. Equity crowdfunding does have a steep learning curve, but this step-by-step guide is a game changer. It provides the information necessary to pursue the funding you desire without bootstrapping anymore.
Best for Real Estate Crowdfunding: The Crowdfunding Myth
Real estate investing is ripe with opportunity. The Crowdfunding Myth gives a complete overview of crowdfunding, but it is geared towards real estate crowdfunding. Crowdfunding for real estate or syndicating your first film is a little different than crowdfunding a product on Kickstarter. Being the investor in real estate crowdfunding brings a lot of risks and potentially a lot of rewards. It is important to remember real estate is not a liquid investment. It will take time to reap the rewards and usually in order to cash out the property must be refinanced or sold. Jillian Sidoti, Esq is a practicing lawyer and gives all the details on how to navigate crowdfunding while staying within the parameters of the law. There are a lot of different rules and codes to follow, but with a little studying, you will be a pro in no time. Seeking the advice of a lawyer when making a significant investment is always a good idea. This book is a great way to learn about the process and see if it is something you should pursue in the future.
Best for Investors: Crowdfund Investing For Dummies
The “For Dummies” book series is a worldwide success. People love its non-intimidating guides for readers on topics of all kinds. Crowdfund Investing for Dummies is no different. It provides both creators and investors with a history of crowdfunding and step-by-step explanation of how it works. This is the guide you will want if you do not know anything about crowdfunding. It provides information through each step of the crowdfunding process with a focus on realistic possibilities. It explains specific details for both the creator and investor. The investor will learn how to measure risk and how to analyze an opportunity honestly. The creator will learn how to manage a campaign, market a pitch, and utilize social networks.