[Hidden-tech] Anyone have experience with crowdsource funding?

[Rich Roth]

The Western Mass Creative Economy Summit will have a session on funding, including crowd 
funding
on May 15 -- keep your eyes at http://www.creativeeconomysummit.com/ or join our list.

There a number in the area with varying experiences.

a few comments:

1) Remember there is a key different between Kickstarter and Indiegogo
KS is an all or nothing, you don't make your number you get nothing,
Indiegogo you can choose to get what was given, even if not your goal

2) In all cases, you pay a fairly hefty commission on the process
in return you get far more exposure then you would doing it by yourself.

3) what you offer is up to you, if you don't deliver on those commitments, that could be 
considered fraud, sounds like a lawyer type question
more important, if you don't feel you can commit to deliver - read #5 below, you are not 
ready.

4) How the received money is taxed is really an accountant question - I would suspect 
ordinary income since you are not paying it back,

5) net-net: those who have done the proper ground work, product preparation, videos, sales 
pitch and offers can do well.
I've seen some campaigns hit 5 or 10 times their goals -- many do ok.

Do your homework - check out the VVM group that Scott mentioned - 
http://www.valleyventurementors.org/
(and keep talking here.)

Rich/webmaster

I am also on the organizing committee for the summit -- more news here soon

On 2/6/2015 7:04 PM, Abby Marks Beale wrote:
>
>
> I’m looking to raise money to upgrade and rebrand my online speed reading course. I’m 
> intrigued by Kickstarter and Indiegogo. I’d love to speak to anyone who has experience 
> with this effort.
>
> Thanks much!
> Abby
>
> *Abby Marks Beale*
>
> *America’s #1 Speed Reading Expert*
>
> /Creator: Rev It Up Reading Online Course/
>
> /Author: 10 Days to Faster Reading, The Complete Idiot's Guide to Speed Reading and
> Success Skills: Strategies for Study and Life Long Learning/
>
> ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
>
> Rev It Up Reading
>
> 5 Dogwood Lane
>
> Wallingford, CT 06492
>
> USA
>
> Toll-free: 1-877-664-READ (7323)
>
> Local in CT: 203-949-9153
>
> Fax: 203-294-4494
>
> www.RevItUpReading.com <http://www.revitupreading.com/>
>
>
>
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-- 
Rich Roth
Webmaster/Steering Committee Member
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