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Show Overview:
Crowdfunding can be used to beta test, do market research, and gather and energize your best customers! GFGF hosts and two guest experts, Deborah Owens and Michelle Thimesch discuss why an entrepreneur might use crowdfunding, the different types of platforms, and how to go about setting yourself up for the best crowdfunding campaign possible!
About GFGF:
The Get Found Get Funded podcast is at the intersection of entrepreneurship and social justice where we focus on entrepreneurship as a possible path to wealth creation — specifically for Black and Latinx communities.
Featured Guest(s): Deborah Owens & Michelle Thimesch
Deborah Owens is America’s Wealth Coach and the CEO and Founder of WealthyU, a financial wellness company. WealthyU is on a mission to close the wealth gap that exists for women and minorities by providing financial coaching and tools on multi-media platforms.
Michelle Thimesch is the Founder of Crowdfund Mainstreet. Michelle has over two decades of closely-held business consulting experience as an estate and succession planning attorney.
Key Takeaways:
- Get as many backers as you can to support your entrepreneurial ventures.
- Don’t be afraid to ask for more money; societal pressures shouldn’t impact your decision making in that regard.
- Understand all of your options in terms of funding to make the best decision possible.
Timestamps:
00:01 – Intro/Welcome
03:58 – The history of crowd funding.
10:13 – How IFundWomen Works.
14:39 – What is Crowdfund Mainstreet?
22:37 – Crowdfund Mainstreet testimonials
30:24 – Communicating updates to backers.
48:34 – Importance of preparation
54:01 – Following up without fear
1:01:21 – History and definitions within crowdfunding
1:02:42 – Final words of advice
Items Mentioned in the Show:
Quotes from the Show:
- “ I think there is a tendency because you have that lack lack of education and expertise, not to want to ask for more dollars. You know, if you look at the studies from women asking for raises or and that sort of thing, I think that it is kind of gender specific.” - Deborah Owens
- “The whole idea behind Crowdfund Mainstreet is that we have, we have a disappearing middle class, both in the context of companies that are looking to get funded over the last several decades, we've seen it get more difficult.” - Michelle Hamish
- “I don't have any fear around asking people to invest in whatever. And I think that sometimes that can be a real impediment for women specifically, having fear having the fear of asking for investment.” - Deborah Owens
