Consultant

Should I Hire A Crowdfunding Consultant?

Crowdfunding Advisors About Crowdfunding, NonProfits

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Should I Hire A Crowdfunding Consultant?

Crowdfunding Advisors, FundRazr Team

Helping our community get to the next level of crowdfunding success

Darryl Burma is the CEO & Co-founder of CrowdMapped which is the worlds’ first ever global geo-location based crowdfunding businesses and services directory and 411 search site. You can also find Mr. Burma on Twitter, Facebook and LinkedIn.

So you’ve heard about crowdfunding and have a great product, cause, business or creative idea that you need to raise money for. But… where do you start? A question that lingers in the minds of many new crowdfunders is: should I hire a consultant and how can I do so without breaking the bank?

Important Steps You Should Take Before Hiring a Crowdfunding Consultant

For starters, before spending a dime on crowdfunding consultation services it’s always important to first conduct some homework of your own. A great place to begin is to compile a checklist of any necessary tasks you can think of from early stage crowdfunding campaign pre-planning steps to post-campaign fulfillment and everything in between. You don’t need a fully polished list right away, just brainstorm and fill in as much as you can to get the ball rolling, you can always add to it or have your list assessed afterwards by a professional consultant. Similar to legal consultation, crowdfunding consulting can be costly and often times billed by the hour so the more prepared you are ahead of time the less you’ll need to spend later on and when it comes to launching a crowdfunding campaign every dollar counts. Knowing your budget and working within it is critical.

Additionally, sure it may be one-on-one crowdfunding education and/or training that you require as opposed to news & information but it’s also helpful to first read up on some of the many available crowdfunding how-to type articles out there in cyberspace. The FundRazr blog has plenty of informative articles that can help answer many of the questions you may have and the best part is, unlike hiring a consultant, it won’t cost you $100 to $200 an hour to read them.

Researching similar crowdfunding campaigns that have successfully reached or exceeded their target funding goal can also be very helpful. Thoroughly dissect such campaigns to learn valuable tips and even reach out to the campaign creators to seek free advice on certain strategies they used. After all, much of the crowdfunding industry revolves around paying it forward.

Assess the strengths and weaknesses of your own network. With or without a consultant, your team and network will play a huge role in the success or failure of your campaign. Find out who has what skills as well as strengths and weaknesses and determine early on who will be assigned to what tasks. If your team lacks knowledge or skills in a certain area, such as perhaps crowdfunding campaign videography for example, you can always seek advice from a consultant for solutions on how to best fill in any gaps your team may have in order to achieve crowdfunding campaign success.

Things to Be Cautious of & Ask Yourself When Hiring a Crowdfunding Consultant

There are many great crowdfunding platforms to choose from and, although some platforms have certain similarities, each one is unique in its own way. First and foremost, before spending large sums of money to hire a consultant, one key question you should ask is whether or not the platform you choose offers any free personal coaching services. FundRazr for example does in fact offer such a service, which is partly why they are one of the largest and most successful crowdfunding sites in the world, but not every platform does. This can help eliminate the need for hiring an outside consultant all together which ultimately will have a positive impact on your bottom line.

There are many experienced crowdfunding consultants out there who can help you take your crowdfunding campaign to a whole new level. One thing to keep in mind though is that just because someone has a professional looking website doesn’t make them a crowdfunding expert. Before pursuing or hiring any consultant it always helps to do your due-diligence first so that you don’t get taken advantage of. To help confirm whether or not a consultant has a proven track record ask for testimonials and references to campaign jobs they’ve helped consult on. This will help assist you during the vetting process when it comes to hiring a consultant that’s right for you and your team.

It may sound like I’m against hiring a consultant for your crowdfunding campaign needs but that’s not the case at all. In fact, in many cases I highly recommend doing so as it can make a significant & positive difference in regards to whether or not you successfully reach the masses and exceed your funding goal. Ultimately what I hope people will take away from this article is simply that it pays do as much homework, planning and research as possible before taking such a step. Hiring the right consultant can pay off in a big way but such services aren’t cheap and first conducting research on your own on how to crowdfund will not only save you money but will help you be more educated and able to spot if a consultant is taking advantage of you and handing you a shiny wooden nickel or is actually genuine and sincerely cares about helping you succeed.

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