As of the recent COVID-19 pandemic, businesses big and small have been largely affected. Many businesses are experiencing unstable cash flow and decrease in foot traffic. This causes an intense amount of stress and anxiety. However, businesses are prepared to recover from their losses. Because the topic of business and the coronavirus is very broad, there are more than enough solutions to any issues they may be facing. One solution is crowdfunding and specifically crowdfunding on GoFundMe. Learning how to crowdfund will not only get your business back on track but alleviate the excessive stress and anxiety that you may be facing. Here are some ways to do that.
Talk about yourself
Be upfront about what you’re raising the funds for and how you will use those funds. Start with a specific number that will help donors visualize how they can contribute to your business impact. Give a little bit of a backstory but don’t entirely give your life story. More so, talk about why you went into business in the first place. That will give donors a head start. Donors will feel more inclined to help you and will share with other networks.
Set a realistic number
The great thing about GoFundMe is that you’re allowed to keep every donation you receive. That being said you want to create a realistic dollar amount to start with. Having a realistic number allows donors and patrons to continuously support you. Once you’ve hit your mark, you can then continue to increase your goal and update your donors and thank them for their contributions.
Think outside the box
Try adding perks to gain closure from your customers. Not only will this help your business grow but you will also gain further trust and loyalty from your customers. I suggest making a list, a big list. From gift cards to loyalty programs to discounts and coupons, anything that you can think of that would help bring more foot traffic or website traffic and still connect with your customers.
One of the best ways to expand your business is through social media. Use platforms such as Instagram,Twitter, LinkedIn and Facebook to alert viewers of your fundraising. In addition, you can even use marketing software tools to automatically send emails to customers. Although they have the option to unsubscribe, you can use the opportunity to update them on how your business is running as you get closer to your fundraising goal. It’s ok to ask your donors to share within their networks or other networks to keep the momentum going.
Fund-raising through GoFundMe gives entrepreneurs many benefits and is great for receiving financial assistance. Some of the financial assistance includes monthly rent or mortgage, health insurance for employees and other operational expenses businesses are unable to pay. You don’t have to use GoFundMe if you are already partnered up with another site. Crowdfunding is just another option. One tip I have is to check up on any fees the crowdfunding sites may have before you join them.
As a personal note, I’d like to say that we here, at Counseling on Demand, understand what you’re going through and we know it’s not easy on you at all. There’s just so much when it comes to business and that you’re already handling by yourself. Ease up on the stress by talking to people, such as your investors or tax accountants. Also, look for business relief programs, such as SBA.gov. It’s ok that you can’t have it all figured out right now. Eventually, it will all come into place. I hope these tips gave you some insight on how to further expand your business. It may not be too different than from what you’re already doing, yet you’ve got to keep the ball rolling. So do yourself a favor, breathe and ask for help. At this time, you need it the most. Tele health counseling is just a phone call away.