Crowdfunding Success Stories
Crowdfunding has gained in popularity. A crowdfunding campaign can provide a chance to raise money for all sorts of causes, from Christmas vacations to industry start-up investments. And, often the deal flow means that the money earned through the crowdfunding isn’t payed back nor a big liability. Buyer beware, and for good reason. Most crowdfunding efforts fail to raise any money at all.
Great crowdfunding success stories are exciting, uplifting, and motivating. They show what’s possible under the right circumstances.
Story #1: The Homeless High School Valedictorian
USA Today, Time, and People all covered the story of Griffin Furlong, a high school valedictorian who was homeless.
His mom got sick and died when he was only 6. Most of his subsequent years had been spent living in homeless shelters with his brother and father.
At the time of the magazine article in People, Griffin had raised more than $26,000 for college via GoFundMe. His friends that started the campaign. The money was raised in less than a week. Fast-forward learn that Griffin’s college fund grew to more than $105,000! Last we knew, he was attending Florida State University.
Griffin crowdfunding efforts were successful.
Lessons of Griffin Furlong’s crowdfunding saga:
1. Griffin had a great story. Who wouldn’t like to help send a homeless valedictorian to college? Can you create a great story around your cause?
- If you’re trying to raise money to visit your sick grandfather, let the world see how much he’s meant to you over the years. Appeal to people’s emotions.
2. Griffin had national attention. Nearly anything is possible if the national media is talking about you. The more people that know about your campaign, the better the odds of success. Maybe your story won’t garner national attention, but couldn’t you at least appeal to your local paper?
Story of Nano Wristbands:
Scott Wilson wasn’t able to find a manufacturer to produce his wristbands, which allow a user to convert a Nano into a watch. In a short period of time, he was able to attract 13,500 crowdfunders. Scott was originally hoping to raise $15,000. However, he ended up raising $180,000 in the initial three days and went on to hit $1 million overall.
A short time later, Apple started calling. Soon, Scott and Apple teamed up and they were selling the wristbands all over the world.
Apple benefited greatly because the Nano product line didn’t sell well previously. But then, sales went through the roof. More than 76% of new purchasers did so because of Scott’s wristband.
Scott Wilson’s lessons:
1. Keep trying. Many individuals give up after an initial failure. Scott kept going and eventually found success. One thing highly successful people have in common is the ability to overcome adversity.
2. Scott had a simple product with mass appeal. Designing and manufacturing a Nano is well beyond something the average person can do in their basement. But a wristband is a simple idea.
- The wristband that Scott created obviously had great potential and upside. It was such a great idea that Apple, a multi-billion dollar company, jumped onboard.
Generally, a great idea is easily funded. A poor idea can be nearly impossible to fund. Something in-between will depend on your marketing efforts.
Crowdfunding is, perhaps, the best way to raise sizable sums of money in a short periods of time.
Success depends upon both the right idea and a strong work ethic.
- Do you have a great idea?
- What success stories have blossomed in your area?
- What success stories have hit in aquatics and swimming?
- Do you know of any success stories or failures in the fitness industry?
Let’s do a deeper dive into additional success stories with crowdfunding.
Let’s think about crafting our own crowdfunding ideas.
- What ideas must you apply to your own efforts?
A few great crowdfunding campaign can make all the difference in generating excitement for your program for years to come.
Comments are open below for your opinions and idea.