Crowdfund – One year on!

Crowdfunding – Asking a bunch of strangers to fund your business idea…Sounds absolutely crazy right?

Crowdfunding is huge in America with the likes of Kickstarter being the largest platform to raise funds. The phenomenon is really taking off here in the U.K allowing entrepreneurs to access alternative options for funds during the recession.

We launched a crowdfund via Bloomvc.com in August last year and succesfully raised £1300 for packaging development to send our cakes nationwide. We are so excited to launch nationwide delivery next month and it’s all down to the help of 14 customers and complete strangers.

Some crowdfund platforms are equity based but Bloomvc.com works by rewarding backers in return for money. If you don’t raise the full amount that you need then you don’t get a penny.

I offered lots of yummy cake and listed each person as a founder on my website cake-cetera.co.uk After perfecting the packaging I am now able to send goodies to my backers and plan to use them as guinea pigs for new products and feedback so they feel part of my journey and success.

Crowdfunding will only work for you if you put the work in. I’ve listed a few wee tips that might help if your thinking about it!

1. Build up your contacts/supporters/followers/customers first.

2. Don’t expect to upload your fund and wait on backers. You will have to spend time  every day generating interest on social media. Prepare to lose followers.

3. Expect negativity. You are asking people for money to fund your idea.

4. Reward your crowdfunders with rewards that reflect your company

5. Update your funders regularly and make them feel part of your success.

6. Don’t give up. I received £600 on the very last day from a complete stranger who has also been great in providing advice and support.

You can read more about my crowdfund below:

Pauline x

https://www.theformationscompany.com/blog/crowdfunding-small-cupcake-business-goes-national/

Pop Up Shop – The Entrepreneurs, Princes Square, Glasgow

28 shops shut every day in the UK meaning our high streets are turning into dead towns! One in every six retail premises lies empty yet there are so many entrepreneurs and small businesses who are fighting to get their products in customer’s hands.

Can a pop up shop be that little ray of hope for small businesses in the recession? We think so but there’s no time for thinking….let’s #godo something about it.

We teamed up with 13 other small businesses from E-Spark (www.entrepreneurial-Spark.com) to organise our very first pop up shop ‘The Entrepreneurs’. We found an empty shop in Glasgow’s Princes Square and devised a plan on turning this from a shell into a stylish shop. This wasn’t going to be any normal shop as we had a variety of products ranging from Fat Free Drizzles,  ‘Powernap’ – a revolutionary travel pillow to ‘Bella Brilla’ and luxury wedding accessories.

We begged and borrowed wooden pallets, wine crates and a till. We were going for the shabby chic look! (Skint).  ‘Dwell’ in Princes Square kindly agreed to let us use their spare contemporary furniture (You  don’t ask, you don’t get.. right?) and the plan all came together nicely.

We launched on the Friday night with a VIP launch night which Councillor Gordon Mathieson and Sir Willie Haughey attended then traded on the Saturday and the Sunday.

The Pop Up Shop was a brilliant success and we collectively brought in over £6000 in the two days. Mary Portas would have been delighted…we will definitely be popping up again soon!

Check out a video and photos of the weekend below:

http://blog.entrepreneurial-spark.com/espark-presents-episode-1-the-pop-up-shop/