If you are in the unfortunate position of owning a small business that is going through a rough patch financially and needs a little outside funding to get back on its feet, then consider crowdfunding for some capital.

Crowdfunding is simply fundraising by promoting your business in a campaign aimed at a large group of small-scale investors or potential customers. Though feasible in the everyday world, crowdsourcing is typically conducted on websites like Indiegogo and Kickstarter that bring businesses and potential investors on the same platform.

However, don’t expect people to simply hand over their hard-earned cash. You will be expected to get to know your audience’s likes and dislikes in order to get their interest and attention. You will have to show how much your business means to you and what it can potentially do for them. Here are some steps to help you successfully crowdfund your small business.

1. Allow your investors to fund you on different levels. If, for example, your business is delivering groceries, consider having various amounts of funding to different operations like fuel for delivery trucks, organically grown vegetables, grocery bags made from recycled paper and so on. Packaging your business in this way allows your backers to feel that they are deeply invested in every aspect of your company. You can also try offering different levels of rewards depending on how much money an individual contributes.
2. Make a video. Show how passionate you are about your business and what its success means to you. This is will give investors a sense of your personality and help you intimately connect with them. Besides, as the saying goes, a picture is worth a thousand words. A well-crafted video will be far more impressive than a long blog post. Do don’t be miserly in this department.
3. Have some pre-committed funds before you start. If you have, say, more than 30% of the funds you need from close friends and well-wishers before you start crowdfunding, it is likely to give the investor an impression that the business has gathered considerable funds already. This will put him or her at ease about funding for the rest. New investors are much more likely to put their money in a business if they can see lots of other investors doing so as well. It feels less risky.
4. Be constantly online. Crowdfunding as we know it is all about your reputation in the online world, especially social media. Augment your campaign with Facebook ads, LinkedIn profiles and Instagram stories to gain social capital among potential investors. Don’t hesitate to hire digital marketing professionals if you feel you are out of your depth in this area.

The above steps are crucial to securing funds through crowdfunding but they are hardly the whole story. Spend some time searching online for sophisticated guidelines and expert advice that may help boost your particular business’s profile in the crowdfunding world. We wish you all the best!

In the business world in general and the tech startup world in particular, growth is the very basis of survival. No budding entrepreneur can afford to see his business’s growth stagnate for too long before he or she is compelled to take action. Of course, circumstances that are out of our control can stall a once-growing company. But in these situations it is the founders of the business who take the initiative to get things back on track. However, even the most capable leaders know that they can’t do it on their own. They understand that true recovery can only occur with a highly dedicated and skilled team.

Use the following steps as a set of guidelines to overhaul your business and return to long-term growth.

1. Focus on relationships rather than sales.

Of course to grow your business you need to have increased revenue and sales. However, modern consumers are far too savvy to be seduced by common sales pitches. They are far more likely to respond to marketing campaigns that showcase authenticity. Promote what is best about your company to audiences that are likely to relate to and appreciate it. Keep in mind what makes your brand unique.

Try to avoid the latest fads in marketing. Just because they seem to be all the rage right now doesn’t mean they will work for you. Again, keep the uniqueness of your brand and its qualities in mind.

2. Prioritize empathy in your hiring policy.

Do not hire self-centered workers even if they are highly skilled. Empathic workers are far more likely to work together as a team because they can put themselves in other people’s perspectives and use that knowledge to re-evaluate and adjust their plans to the benefit of all concerned. Time and again, successful businesses have demonstrated that if they have empathic employees at the helm, everyone feels that their interests are being considered and that are essential to the running of the company.

3. Hire professional data analysts.

We’ve all heard the expression “knowledge is power.” In the business world, knowledge includes vast amounts data that needs to analyzed, assessed and properly interpreted. Although it’s true that modern data analysis software is making data analysis easier by the day, data scientists understand this field on a much deeper level. If they are made aware of the company’s business goals, data scientists can sort out invaluable nuggets of information from otherwise overwhelming volumes of data. Hiring them will allow you find the right solutions to your problems.

Stagnating growth is a nightmare for the entrepreneur but if these guidelines are adhered to, one can return to a path towards long term growth. Don’t be fooled into thinking that you’re wasting money by investing in the right people rather than the right products and marketing campaigns. Following the latter path will at best only provide short-term growth. In reality, only a dedicated team can provide the sturdy foundation upon which you can base your company’s prospects for long-term growth.

The majority of businesses today have only a superficial understanding of sustainability. However, by taking a more broader view, one can see that sustainable businesses are those whose purposes, beliefs and practices are firmly rooted in business, social and financial concerns. To achieve this type of sustainability is far from easy but keeping a few basic principles in mind will empower entrepreneurs to take the right steps towards building a sustainable future for their business, the economy and the environment at large.

1. Beliefs are Key

Every business, no matter what other changes it makes, is bound by the core beliefs of their leaders. If you are unclear what is it that your business about, it will reflect in its overall performance. Take the time to articulate your beliefs on what your business is and see if your current business practices align with them. Only then make the appropriate changes to your business. A company confused about its mission will certainly not sustain itself for long.

2. Roll with the Punches

Change is difficult to accept and scary. Old certainties and guidelines become irrelevant and the changing economic situation can suddenly transform your current mode of business into an obsolete relic. But responding to it and engaging with the challenges it brings will make your company cut above the others. Future entrepreneurs will look towards you as model of sustainability in tumultuous times.

3. Creating Value is Key

The world is full of mediocre businesses that provide run-of-the-mill services to their unenthusiastic clients. They have no individuality, no connection to their customers’ needs and so fade out within a short period of time. Stand out by providing something that is unique in providing value to your customers. Make it something that customers and competition alike associate you with it. Apple Inc., for example, is unique for creating its distinctive design and style of IT products that no other company can match.

4. Excel in one specific line of products and services

Don’t be tempted to dip your hand into any marketing fad that comes along. In the IT industry especially, startups offering new and seemingly innovative products born and become extinct in the blink of an eye. Think of your products and services as part of a bigger industry. If you focus on what you are best at, you are much more likely to become recognized as having a unique value. Microsoft Inc., for example, has lasted this long because of its focus on operating systems.

5. Reinvent yourself constantly

The days when giant corporations could expect to enact the same business model and market the exact same product and expect to sustain themselves are over. In this fast changing world, customers expect their product lines to be improved in creative and inspiring ways. Keep your core beliefs in mind, and innovate your way to a sustainable future.

Most business leaders are too narrotwly focused on their bottom line to notice the broader ecosystem in which their businesses work. When one is aware of the broader context in which a his/her business operates and brings his/her practices in harmony with it, one ensures sustainability. Just as harmonizing our lifestyles with the broader environment brings environmental sustainability.