24 Jul Three Things to Know About Crowdfunding From MNovation Panelist Zach Robins
“I love the idea, and I have the funds to support it, so…what’s next?”
When you are starting a new business or venture, funding can come from many places. If you’re thinking of helping a venture get off of the ground by investing as part of a crowdfunding campaign, there are some key things to keep in mind.
Zach Robins, security attorney, co-founder of MNVest, and panelist at our upcoming MNovation conference recently sat down with us to go over three key things to know about crowdfunding and how it works.
People can win big, and they can lose big.
Just like any other type of investing, sometimes there are going to be big gains, and sometimes, for whatever reason, businesses fail. If you remember that both are a possibility before beginning, you’ll be better off in the end.
It’s not just about a potential financial gain.
Yes, investing is by definition successful with a “return on the investment” but that doesn’t always mean more money in the bank. Crowdfunding investors can receive incredible non-monetary perks like merchandise, VIP status, new products in pre-launch and more. In addition, crowdfunding investors get to experience the satisfaction of knowing and seeing the direct results of their investment, and feeling like a part of that success. If done right, both the business and the investor feel like they are getting a good deal out of the investments made.
When you are part of a crowdfunding campaign you are investing in your community.
Knowing and seeing the results of helping a small business in your community can have many benefits for a crowdfunding investor, whether it’s helping a neighborhood to grow and flourish, providing more jobs in the community, or just the perks of being able to skip the line to get your growler, you’ll be able to see, touch, and feel the impact of your investment.
Many thanks to Zach for sharing his expertise around crowdfunding – if you want to see and learn more, join us at MNovation this October 12th!