Crowdfunding Consultants - What are Crowdfunding Consultants?
Most business owners and individuals know that the decision to raise capital via crowdfunding for their startup should be made after careful analysis. Running a crowdfunding campaign requires a lot of time and hard work so it’s not uncommon to feel overwhelmed and look for help. The good news is, crowdfunding consultants exist. They can lend their expertise from a wide range of backgrounds, e.g. public relations, marketing, finance, etc. as well as offer a variety of services, for just about everything your campaign could need.
What Do Crowdfunding Consultants Offer?
Crowdfunding consultants possess the experience, skill, and knowledge to help you reach your fundraising goals. They can work with you to come up with strategies that cater to your specific needs. Furthermore, they also offer services to help fill in the gaps when it comes to running a Reg CF and Reg A campaign.
Virtually every campaign experiences a setback and these professionals can help you get through it. Crowdfunding is an unpredictable business as you never really know how the public will react, but it gets easier if you have an experienced crowdfunding consultant on board that has seen it all before.
Hiring a consultant can save time. Some consultants can help you build a strategy and allow you to execute it yourself. This significantly reduces the amount of time spent on preparation as you won’t have to worry about learning how to crowdfund. Furthermore, with a professional crowdfunding consultant on board, important strategic choices can be made faster. Other crowdfunding agencies or consultants will run the campaign partially or fully for you, hence saving you a lot of effort.
Should I Hire One?
Whether or not you should hire a consultant for your Reg CF and Reg A crowdfunding campaign depends on what skills you have within your team, what your budget is, as well as how much time your team can afford to dedicate to pulling it all together. There are a number of different things involved in a crowdfunding campaign, e.g. a financial model that details projected business performance, a justifiable valuation of the company, legal review of various documents, a promotion strategy to get the word out to potential investors, etc. If your internal team doesn’t have the time or the capability to take care of all these aspects, then it may be a good idea to hire a crowdfunding consultant. An honest assessment of which skills you have and which ones you are lacking is a great first step to determining whether or not you need a professional consultant.
A good crowdfunding consultant will make your campaign better, let you go further into overfunding, and increase your chances of success. However, there is a price tag attached to using such an expert. It is recommended that you do proper research to learn what it will cost you and whether that cost fits well into your budget. The larger the project, the more work will need to be done in your crowdfunding campaign. Consider the risk-reward profile; the cost of hiring a consultant versus what you are trying to raise and then make a decision accordingly.
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