Crowdfunding Success: “Momentum is the key to crowdfunding success” says Peter Ramsey, founder of Movem

Movem, the online community marketplace for landlords, agencies and tenants to list and review rental properties, raised £200,000 on crowdfunding site Crowdcube in just ten days (in August 2016). The investment allows Movem to expand into the residential lettings market, growing the business significantly.

Picture of Hatty Fawcett

Peter Ramsey, Founder of Movem

 

 

 

 

 

 

Hatty Fawcett, experienced crowdfunder and Founder of Focused For Business and Crowdfunding Accelerator, asked Peter to reflect on the process of crowdfunding and share his learnings.

“I loved the idea of having emotionally and financially invested brand advocates.”

Hatty: What appealed to you about crowdfunding?

Peter: I loved the idea of having 100+ brand advocates who are emotionally and financially invested in our product.

Hatty: Did you consider any other forms of investment?

Peter: We considered raising funds privately, including business angel investment. However, I felt Movem needed to make a mark on the industry – which is exactly what crowdfunding helped us to do.

“Crowdfunding isn’t easy – you’ve got to create momentum but that requires hard work.”

Hatty: How easy did you find the process of preparing for crowdfunding?

Peter: Developing a crowdfunding campaign took a lot of time. It probably took me 2 months from making the decision to do crowdfunding to going live. The hardest thing for me was the video pitch. I knew it had to be good, but I didn’t know anybody that could help me make one. So I did it myself. I rented camera gear, got a tripod and filmed/edited the whole thing on my own.

I wasn’t actually that happy with the final cut, but I couldn’t get any more footage, so I had to put up with what I had. On the positive side, that did stop me re-filming again and again. The guys at Crowdcube were very supportive too.

Hatty: If someone is considering crowdfunding, what advice would you offer them?

Peter: My biggest piece of advice is you need to recognise that crowdfunding isn’t easy. There’s a lot of work and effort that goes on behind the scenes. For example, I’d raised some of our investment target prior to putting our crowdfunding campaign live. That was hard work and took time, but it was really important in creating momentum for our crowdfunding campaign when it did go live. That’s the key really, demonstrating momentum.

“I’d wake up at 7am every day and spend the whole day contacting as many people as I could. Literally until I went to bed!”

Peter: Even once you’ve gone live you have to keep that momentum going. You have to keep talking to everyone you think might be an investor. I’d wake up at 7am every day and spend the whole day contacting as many people as I could. Literally until I went to bed! I used everything available to me. LinkedIn, email contacts, the press, friends of friends, Facebook adverts…you name it. I tried it. Crowdfunding is a numbers game – and that requires persistence and hard work.

Hatty: What percentage of your crowdfunding target had you raised before you put your crowdfunding campaign live?

Peter: I had raised £85,000 so just over 40% of our target.

Hatty: Is there anything you would do differently, knowing what you know about crowdfunding now?

Peter: I’d probably be a bit more ambitious. I spoke to so many people during the course of our crowdfunding campaign, there was a ground swell of support and momentum. So many people got in touch afterwards that we could have easily funded £500k.

********************************************

Crowdfunding Accelerator is an eight week online programme that makes it quicker and easier to be successful at crowdfunding. Find out more

Crowdfunding Accelerator: Making successful crowdfunding quicker and easier

Crowdfunding Accelerator: An online programme of workshops and mentoring

How to succeed at Crowdfunding: Free online, interactive seminar – Book your place


The harsh truth is that 50% of crowdfunding pitches fail to reach their funding target. Crowdfunding Accelerator is an eight week ONLINE programme designed to make it quicker and easier for you to run a successful crowdfunding campaign. The programme:

  • takes a step-by-step approach, focusing your effort on the things that really matter
  • provides specifically prepared content focused on each aspect of your crowdfunding campaign
  • supports you with programme workbooks, handy-to-use templates, additional resources and proven tips
  • encourages peer learning, support and motivation through a closed Facebook Group
  • facilitates the actions needed to prepare your campaign through weekly “homework”
  • culminates with “Pitch School” where each participant pitches their campaign and receives tailored feedback
  • significantly improves your chances of crowdfunding success

What participants say about Crowdfunding Accelerator

“Hatty is a great teacher! The rich content of the course kept me interested and helped me understand how crowdfunding fits into various financial offerings. This course has given me confidence on how and when to organise a campaign.” Sue Frost, Co-founder Curamicus

“Hatty made the daunting process of accelerating my business a simple, outlined and structured process. As a company we have gained direction, professionalism and valuable information through her insights”. Arun Thangavel, Co-Founder, Hollabox

“The Crowdfunding Accelerator was an excellent way to explore the concept of crowdfunding in a real hands-on and practical way which resulted in having everything I needed to proceed.” Claire Timbrell, Co-founder The MacGuffin Project

“You have really helped me address my ideas and improve my plans. The support has met my expectations which were high”. Adalberto Battaglia, Founder Quinto Quatro

“I’ve found your feedback on the homework assignments most helpful. It feels like personal tuition.” Sue Frost, Co-founder Curamicus

“The homework is by far the best bit! It’s what made this so much more practical than just researching crowdfunding on your own, because you end up with everything you need to proceed. Even if you don’t proceed, the homework definitely focuses you on what is important for your business.” Claire Timbrell, Co-founder The MacGuffin Project

“Hatty was a fantastic coach helping us create a short pitch, ensuring the delivery of key investor information in a simple but effective way” Gill Hayward, Co-Founder, YUU World

Dates for the next programme

The next Crowdfunding Accelerator runs on Monday evenings from 19.00-20.30 BST on the following dates:
September – 11th, 18th, 25th
October – 2nd, 9th, 16th, 23rd, 30th

Location
This is an online programme delivered weekly in 90 minute interactive video call meetings. There is no need to travel. Simply log in from your computer (with internet access) wherever you are.

What next?

How to succeed at Crowdfunding: Free online, interactive seminar – BOOK YOUR FREE PLACE

Got questions about the programme? EMAIL HATTY

Want to join the next cohort of Crowdfunding Accelerator: SIGN UP NOW

 

About Hatty
Crowdfunding Accelerator is run by experienced crowdfunder Hatty Fawcett. Hatty raised £250,000 through crowdfunding and angel investment for her own business venture and for the past 5 years she has helped business owners prepare for and raise investment. She learnt the hard way what it takes to raise investment and is on a mission to make it quicker and easier for other businesses to access finance.

Hatty regularly speaks on crowdfunding and is an active blogger on the subject of raising investment.

Hatty is also a Regional Manager for Angels Den, the Business Angel Network and crowdfunding platform, is a Talent Spotter for The Start-up Funding Club and an Ambassador for Phundee. She runs free, monthly Funding Clinics giving businesses the opportunity to discuss their funding requirements in an informal clinic and to receive tailored advice.

 

 

New Event: Stand out from the crowd: How to prepare for successful crowdfunding

Tuesday 17th November, 3pm – 6pm, Ageas Bowl, Southampton

This year 7,000 SMEs will raise more than £1 billion through crowdfunding, how could your business benefit?

This event will help you decide. You don’t often get this sort of expertise in the room. Live funders who can help you raise business finance and specialists who have been there and done it successfully, who can help with your preparation, so you fully understand the platforms and the implications of each.

It’s a great way to ask any questions you have about crowdfunding, take the temperature of a new idea, or simply network with other business leaders who either want to learn more, or who are similarly frustrated with traditional finance options.

Spaces are limited, so you are urged to book quickly to avoid disappointment.

Book before 31st October and qualify for the Early Bird price of £15.

Book now

Details of event: Stand out from the crowd: How to prepare for successful crowdfunding

 

 

Let’s Talk Business interview Hatty Fawcett on crowdfunding

This week I was interviewed by the successful Let’s Talk Business radio programme on the subject of crowdfunding. We touched on some interesting topics:

  • Which businesses are best suited to crowdfunding?
  • Is it easy to raise money through crowdfunding?
  • Different options for raising money at different stages of a company’s life
  • Tips and practical advice for proving your business concpet and gaining traction before you go for funding.

You can hear the interview here: