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Tag: success

7 sins of crowdfunding

My recent indiegogo campaign has elicited a flurry of emails from people looking for support and advice on projects of their own. I’ve attempted a few fundraising efforts — one that failed, one that supported inner city kids (and got me to Everest Base Camp), and another that had me running the 2011 NYC marathon (never again!). I’ve noticed a few patterns surrounding the psychology of asking and giving and hope this compilation might help you think carefully about your next crowdfunding endeavor.

ONE: APATHY. You don’t really care about your cause.

If you aren’t invested in your project, how can you ask anyone else to be? The solar project came out of something incredibly meaningful for me, and my passion is palpable through a screen. If you think your work will make a difference in someone’s life, probably it will. People will believe in you and your work, but first you must believe in yourself. It can be unnerving to put yourself out there, so focus on your goal and what you’re looking to accomplish to overcome any social anxieties. Excitement is contagious.

TWO: GLUTTONY. Stressing helps no one.

With each fundraiser I end up putting on a few pounds, ultimately telling friends “fundraising is bad for my health.” I won’t lie: fundraising is stressful. It can be an agonizing blend of deadlines, public exposure, asking for money, rejection, persistence, hard work, and time. Lots of time.

Keep in mind no one will give you an award for stressing out. Worrying only paralyzes you from accomplishing anything significant; this serves no one. If you are tired or rundown, you’re going to be an inefficient fundraiser, advocate, worker, person. Take care of yourself.

THREE: PRIDE. You’re not going to be successful by yourself; build a team.

You need supporters in your corner for the times you hit fundraising slumps (and you will). Enlist your funders to encourage and cheer you on. Basic mathematics: more people means more energy and effort directed towards your project. And more eyeballs (over 10k people visited the solar project page). You’ll need more than just financial support as you make the final push toward your goals.

FOUR: SLOTH. Fundraising is really like a marathon.

At first, your idea will sound exciting and meaningful and you can’t wait to get started.

Then reality sets in. Is crowdfunding going to work? What if this fails? (Anxious questioning is completely normal. If you’re not at least a little bit nervous, reevaluate #1.)

After you announce your campaign to the world, you will feel empowered and committed. You start telling colleagues, share your campaign on social media channels, and receive positive feedback from friends. This initial spike in enthusiasm will be followed by a slump. Don’t panic.

FIVE: WRATH. You are not getting the response you hoped for, and now you’re angry.

Don’t give up.

You have to work really freaking hard. Sometimes, all of your online efforts aren’t enough. This is when you start looking at offline options. Tell everyone you meet about your project. Plan events — events, fundraisers, silent auctions. At one point, I considered making animal balloons on the street for money. Then I started applying to every micro grant I could possibly find—THANK YOU, POLLINATION PROJECT!—for fear I wouldn’t reach my goal.

Remember #4. It’s a marathon race; pace yourself but be prepared for sudden sprints. You will regain energy and confidence as your deadline nears and you approach your goal.

SIX: IGNORANCE. You don’t know your own story.

You’ll need to get creative. Images and anecdotes create a portrait of what you’re trying to do. Show people why your cause is meaningful and what kind of impact you’re looking to make. Your shared content — photos, stories, ideas, videos, testimonials — will help you move past moments of doubt and remind you why you started this in the first place.

SEVEN: GREED. You got what you wanted.

Just because your campaign ends doesn’t mean your work is finished. Don’t be fooled — donor appreciation takes time and care. People went out of their way to support you and your cause; thank them and keep them updated on your progress and work. Follow up and be timely with updates. It makes you look responsible and reminds people they made the right choice by supporting your work.

Gratitude is everything.

Inconvenience yourself.

New Yorkers and scheduling is borderline ridiculous. I spend more time than I care to admit orchestrating calendars, slotting calls, finding common days for in-person meetings. While there are plenty of automated tools to streamline this process, I’ve found that each person’s needs and requests are very different, and the act of scheduling itself can reveal underlying issues. Each day I’m forced to reassess my priorities and make decisions accordingly.

Yet with all of this scheduling and compartmentalizing, is there space for magic?

We spend so much time making sure things go according to plan. If something falls through the cracks, it’s a fault in the system — our system. The slightest tip of the scale can throw off an entire day, delaying planned meetings and cramping scheduled “me” time. Minor inconveniences (a late train, a forgotten document) suddenly become huge problems.

Ever pause to evaluate whether your intense regimen is adding to your anxiety rather than helping? Consider your definition of inconvenience and flirt with alternatives.

What would happen if you intentionally take the later train, let someone step in front of you, choose the slowest checkout line?

 

I stopped trying.

I’m still trying to wrap my head around this, as it is completely counterintuitive to me.

The moment I stopped trying and quit everything is when things became clear.

I’m not saying I don’t have challenges and that life is always easy, but my day-to-day isn’t filled with as much strife. There’s less struggle as I move about the world.

I think of how difficult momentum seemed in the past. Once I landed back into the grooves of authenticity, people began to take notice. It’s then that I raised money for a few scholarships, attracted over 30k views on Medium, and found myself speaking on HuffPost (look at 13:30).

I’m not doing anything drastically different. I’m simply living my life by letting passion lead the way.

I’m wondering if this principle has worked for you, too.

What if WORKING HARD didn’t equal SUCCESS? What if you stepped out of the car, allowed your excitement to take the wheel, and put frustration, anxiety, and white-knuckle-decision-making in the backseat? What if by relaxing, you allowed your “best self” to emerge?

If you’re having to work really hard to make something right, I’m wondering if it’s right in the first place.

Tweet me. I want to hear what you think.

What if the goal was to fail?

What if your goal was to experience rejection, to quit?

What if you set out trying to find twenty new ways of getting shot down, of hearing “No, thanks” at least fifteen times in one day?

What if your aim wasn’t to wildly succeed or sell the most product or to get everyone to like you?

What if you turned the graph upside down and thought of creative ways to beat everyone to the bottom?

What if you truly said fuck it and stopped watching numbers and started listening to your heart, your excitement, your passion instead?

Give more, receive more

When we are stingy with our resources, or operate from a “scarcity mentality,” we block our own potential (and that of those around us). Giving to others creates an energy exchange that can propel you towards success and deeper layers of living.
The holiday season is a perfect time to test this generosity theory. Conduct an experiment and observe the ways in which you benefit by giving:

  • Find an organization that could benefit from your volunteer work
  • Buy coffee for the next person in line
  • Encourage an entrepreneur in a developing country
  • Clean out your closet and donate lightly worn clothes to a nearby shelter
  • Bake goodies and bring them to a neighbor
  • Support local farmers by giving the gift of a CSA box
  • Plug the parking meter of the car next to you
  • Invite a small group of friends to join you for dinner

Within your network, there are individuals who will benefit from meeting each other. We have tools and devices at our fingertips to connect and unite layers of talents. But there’s also the good-ol-fashioned telephone…
Generosity doesn’t need to be restricted to the holidays, but it’s a great time to start.