Show notes
Are you interested in starting a crowdfunding campaign? Or maybe you’re wondering if you should pull money out of your savings to start your business? Learn the pros and cons of bootstrapping & crowdfunding and what it takes to launch a successful crowdfunding campaign with Josh Lipinski, the founder of Breakwater Supply, and Tess Estandarte, Director of Product Marketing at Rainfactory.
This episode is brought to you by Amazon Business. Amazon Business provides a wide product selection, business-only pricing, and account features that can make running your small business easier. Amazon Business supports small businesses through various programs such as the Small Business Grants where Amazon Business gives over $250,000 to 15 small businesses who are Amazon Business customers. Amazon Business is committed to the growth of small businesses and invests in grants to help small businesses overcome challenges they face, freeing up their resources to focus on their mission and customers. Small Businesses are the backbone of our economy and when they succeed, we all succeed. Create your free account today at amazonbusiness.com.
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(04:14) Josh points out the benefits of bootstrapping like having the freedom to call the shots and not having to meet investor demands which allows you to concentrate on improving your product and service.
(05:40) Josh talks about why he decided to use bootstrapping to launch some of their products and emphasizes the importance of building trust by delivering on promises because it's a serious business that requires a solid plan.
(12:23) Tess highlights the often overlooked legal aspects of crowdfunding, such as the importance of patents, trademarks, copyrights, intellectual property, reading the terms and conditions, and taxation.
(14:06) Tess talks about the benefits of crowdfunding for entrepreneurs, highlighting the engagement with a supportive user community, brand and product awareness, and the ability to assess market readiness before seeking additional funding or investors.
(19:33) To make your crowdfunding campaign stand out, Tess advises against cutting corners on the quality of assets, particularly images and videos, which can either make or break your campaign.
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