“Speaking the language of investors made it quicker to find investment” says Jason Kirk of Kirk & Kirk

Jason Kirk co-founder of Kirk and Kirk, an upmarket eye-wear brand, is a very credible founder and business owner. He and his business partner Karen built and sold a successful business prior to starting Kirk and Kirk, they both have over 20 years’ experience in their industry, their latest business has made good progress and they have raised investment before (for their first business). You might think that they would find it a breeze to raise investment. And yet, when they were looking to raise investment for Kirk and Kirk they sought external support and advice. Hatty Fawcett of Focused For Business caught up with Jason to find out why.


Hatty: You decided to raise investment from business angels rather than any other source, why was that?

Jason: We didn’t need a huge amount of money, about £150,000. We were eligible for SEIS (Seed Entreprise Investment Scheme) which I knew would make us appealing to angel investors so it felt like a logical place to start. I was also interested to see what sort of angel we might attract and whether they might bring additional value to the business in the form of contacts or skills, as well as their money.

I’d also decided against going to the banks because they tend to be slow and expensive. The amount of work involved measured against the amount of support you end up with from the banks is, at best, frustrating.

Hatty: You had raised investment before, for your previous business, so people might assume you knew what was required. Why did you decide to get external support in preparing for investment?

“I really want to ensure I was speaking investors’ language. I know how time consuming raising investment can be. I wanted to get it right first time and avoid going backwards and forwards with investors and spending too much time on it.”

Jason: Yes. I’d raised investment before but this was a different business. Enlisting the help of someone who knows how to tailor a document to the needs of a specific audience is very time efficient and should lead to better results. I really want to ensure I was speaking investors’ language. I know how time consuming raising investment can be. I wanted to get it right first time and avoid going backwards and forwards with investors and spending too much time on it. Raising investment can be a big distraction from the day-to-day running of your business if you’re not careful!

Hatty: You’re right. Raising investment is a full-time job – on top of the full-time job of running your business! Raising investment gets an awful lot easier when you have a lead investor, someone willing to back your business and say why they are doing so. How did you go about finding a lead investor?

Jason: I didn’t have a huge network of investors so I admit it was daunting knowing where to start! But having worked on what I need to say to investors with you, it gave me confidence to go out and start talking to people. I remember you encouraged me to talk to everyone! Telling them about the business, what we had achieved and what we wanted to do next. I spoke to so many people I began to get board of the sound of my own voice!

“It’s definitely easier to attract other investors once you have a lead investor.”

But it paid off, one of the people I spoke to – looking for their feedback, I wasn’t actually asking for investment – was an active angel investor and he liked what we were doing. He agreed to be our lead investor. It’s definitely easier to attract other investors once you have a lead investor.

Hatty: That’s very true. A lead investor really gets things moving. I know it worked for you and, with the support of your lead investor, you were able to complete the investment round. Thinking back on the process of raising investment, what advice would you offer to anyone preparing for investment today?

Jason: I’d use an experienced pro to help you prepare the documents and figures you need because it saves a great deal of time and makes your investment look more attractive to potential investors.

Hatty: Have there been any surprising outcomes from raising investment?

Jason: The investment has allowed us to make significant progress in a relatively short time frame. In fact, we’ve achieved the milestones we set and are ready for our next round of investment!

Jason worked with Hatty Fawcett of Focused For Business to prepare for investment, with the specific objective of developing a strong summary of the investment opportunity (in the form of a one page executive summary) and a credible business valuation.

If you would like help preparing for investment, book a free funding clinic with Hatty Fawcett or attend a live and interactive, online masterclass that gives you the tools to prepare yourself for investment.

Giving you the tools to raise investment: Online masterclasses for start-ups, founders and early stage businesses

This online masterclasses series is designed to give startups the tools and information they need to prepare for investment in a focused, actionable way:

How to write an executive summary that attracts investors
Learn to create an executive summary for business angels or crowdfunding investors that really sells your investment opportunity.
Find out more and book a place

How to create a business valuation that gets your start-up funded
“Real world” business valuation for start-ups and early stage businesses looking to raise angels investment or crowdfunding.
Find out more and book a place

How to find investors and move them from “Doubters” to “Shareholders”
How to find, warm up and close deals with business angels and crowdfunding investors.
Details coming soon

How to pitch your start-up to raise investment
Develop the range of different pitches you will need when raising angel investment or crowdfunding.
Details coming soon

 

 

How to create a business valuation that gets your start-up funded

Business valuation...the most common deal breaker

A down to earth, step-by-step approach to creating a business valuation for start-ups and early-stage businesses looking to raise angel investment or crowdfunding.

You will:

  • Learn what a business valuation is and how it changes over time
  • Become familiar with the terminology used to express a business valuation
  • Discover the evidence you will need to justify your business valuation
  • Understand what investors look for when assessing value in a business
  • Undertake a practical exercise to identify the drivers of revenue in your business
  • See a worked example of a financial forecast
  • Receive a valuation calculator

Places are limited to ensure a good interactive experience.  Please book early to avoid disappointment.

What people say about the masterclass
“This masterclass was an excellent experience. it ticked all of the boxes. The interactive nature of the masterclass ensured that all of the questions I had about my business valuation were answered.” Martin Lewis, Graduate Attire

Duration: 1 hour 45 mins
Location: online using Zoom video conferencing
Presented by: Hatty Fawcett, Focused For Business
Fee: £200

Book your place on the next masterclass

If you can’t see the booking form, book your place via Eventbrite

About Hatty
Hatty Fawcett is the founder of Focused For Business. She raised two rounds of investment for her own business venture and now supports others in raising investment, predominately through business angels and crowdfunding. She runs a series of online masterclasses, a Fast Track To Funding coaching programme and Crowdfunding Accelerator all of which are designed to make it quicker and easier to raise investment. Hatty also offers  a range of free webinars and Funding Clinics. Hatty regularly speaks on the topic of raising investment and is an active blogger on the subject.

What people say about working with Hatty
“Hatty is a great teacher! The rich content of the course kept me interested and helped me. This course has given me confidence.” Sue Frost, Co-founder Curamicus

“The webinars from Hatty are great but the best bit is the interaction with the other participants and hearing how they are approaching their journey to investment.” David Toscano, Cin Cin Italian Canteen

“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

Hatty’s content was excellent and I learnt far more than I had imagined. We had a good laugh whilst getting some serious work done.” Sharon Maddy-Patel, Maddy Lou Shoes

“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

You can read more about Hatty on her LinkedIn profile.

Book your place on the next masterclass

How to combat loneliness as an entrepreneur

What words do you associate with entrepreneurs and founders?

Ambition?
Passion?
Optimism?
Energy?

Lonely?

Perhaps not the latter. And yet…

At the outset, most entrepreneurs act alone. They have an idea, they research it, develop it, make it happen – on their own.

They are self-reliant – they have to be. In the early days there is often no budget to build a team, there may not be a co-founder to share ideas with, or to moot the relative benefits of this strategic option over another. Entrepreneurs have to trust their own judgement.

Even when the business is able to support a team, founders have to keep a distance between themselves and the team some of the time. There are some things you just can’t share with the team – especially if the thing that is worrying you is “how do I pay the next monthly salary run?”

And yet, as the saying goes, “a problem shared is a problem halved”.

So what’s a founder to do?

There are practical things you can do to combat loneliness:

  • Using co-working spaces can be a good way of ensuring you have people around to talk to.
  • Making time for networking also makes sure you are meeting new people with different perspectives, but beware people’s natural inclination to present a positive picture of themselves which may mean you feel you can’t be as open as you’d like to be in certain circumstances.
  • Working with a coach or mentor can provide an environment for discussing more sensitive, and potentially challenging, situations – but it can become expensive.


Or you could join an online Entrepreneur Board – an intimate group of entrepreneurs whose businesses are at a similar stage to yours, people who get to know you over time, building trust, rapport and understanding of each other’s businesses. It makes for a powerful support option. Not only does it combat loneliness but it is designed to facilitate problem solving, offer support in responding to challenges and in exploring strategic options. You become part of a community, surrounded by experience.

You are not alone, afterall.

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Find out more about Entrepreneur Boards

Crowdfunding isn’t just about the money…three founders share why they chose to crowdfund

There is no doubt that crowdfunding is a good way to raise investment. What’s interesting is that the reasons people are choosing to crowdfunding are changing. Of course the investment raised is nice – but it isn’t the only reason for undertaking crowdfunding. Below, three different founders share why they choose to do crowdfunding:

“Crowdfunding proved a brilliant way to market test a new product and boost sales.” 

Kellie Forbes and Gill Hayward, Co-Founders of YUU World, who have successfully raised two rounds of equity investment, decided to do reward-based crowdfunding to test demand for a new product. They noticed that “wearable tech” products did particularly well on reward-based crowdfunding platforms and they decided to include crowdfunding as a key plank in their marketing strategy. It wasn’t the easy ride they’d hoped but had some surprising results…Read more

“Crowdfunding enabled us to turn a shared vision into a tangible financial commitment.”

Robert Woodford, Marketing Director at Deep Time Walk, turned a shared ethos and vision for the world held by the alumni of Schumacher College to raise funds to create not only a mobile app that takes you on a detailed and dramatised walk through the earth’s history, but also funded educational burseries in the process…Read more

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

Peter Ramsey, Founder of Movem, wanted to put down a marker in his industry by not only raising investment but also establishing brand advocates in the process…Read more

All three founders faced challenges along the way – no one ever said crowdfunding would be easy – and they have been generous in sharing their experience and advice so that you can learn from it.

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“Crowdfunding proved a brilliant way to market test a new product and boost sales” says Kellie Forbes Co-Founder of YUU World

Kellie Forbes and Gill Hayward, Co-Founders of YUU World, know what it takes to raise investment. They survived “Dragon’s Den” (TV programme) receiving offers from all five dragons and going on to raise investment from Peter Jones and Deborah Meadon. Then, in 2016, they raised £210,000 from a number of business angels. In 2017, with the business doing well and a new product to launch, Kellie and Gill turned to crowdfunding to raise investment to launch the new product but, more importantly, to test demand for their latest creation, YUUGo a GPS tracker backpack which provides parents with everything they need to keep their kids both entertained & safe on-the-go.

Their crowdfunding campaign didn’t raise what they hoped but they still feel the campaign was a success and that crowdfunding was very worthwhile. Hatty Fawcett  of Crowdfunding Accelerator caught up with Kellie to find out why and to discover what they’d learnt in the process.


Hatty: What attracted you to crowdfunding for this investment raise?

Kellie: We were attracted to crowdfunding to launch our new product not just because of the financial support, but because we thought it would be a great way to test the desirability of our newest product. We also wanted to gain some valuable insight on how to improve our product along the way.

Hatty: What influenced your decision to do reward-based crowdfunding (rather than equity)?

Kellie: YUUGo is a tech product (it uses GPS/Wi-fi tracker to allow children to track their journeys whilst giving parents the ability to see where their kids are). We noticed that “wearable tech” performs particular well on reward-based crowdfunding platforms. It seemed a good way to reach out to new customers beyond those who already love our core product. Nothing is certain in crowdfunding – and we had some concerns – but we wanted to give it a try.

Hatty: How did you decide at what level to set your crowdfunding target?

“I would urge anyone considering crowdfunding to think very carefully about their crowdfunding target…setting this at the right level is more complex than you might think.”

Kellie: I would urge anyone considering crowdfunding to think very carefully about their crowdfunding target (the amount of money you want to raise).

We reviewed a lot of crowdfunding projects before launching our own and, in many cases we saw the percentage reached outshining the actual target. When this happens “the crowd” tends to be encouraged by the initial response and join in backing the project causing an over-funding situation. This is very exciting when it happens but it can also be misleading. You have to deliver your promised rewards the minute you hit your (minimum) target, even if you are planning to go on and over fund. We considered setting a lower target (so that we were seen to achieve our target quickly) but we were concerned that if we set our minimum target too low we would not raise sufficient funds to meet our minimum order quantity with our factory, leaving us needing to deliver rewards without the minimum order quantity economies of scale. That would have cost us money!

I guess what I’m saying is that setting your crowdfunding target is more complex than you might think. You’ve got to think about what you need, the costs of delivering your promised rewards and recognise that there is human psychology at play too.

“It is dependent on you to get the first 40-50% (of your target) pledges in – and you need these pledged in the first few days of your campaign. I cannot stress this enough”

Hatty: Had you lined up some initial investors to support your crowdfunding pitch when it went live?

Kellie: I cannot stress enough how important it is to do some in-depth prep and ground work on lining up initial investor pledges. I’d recommend lining up initial pledges that account for 40%-50% of your target – and you need these pledged in the first few days of your campaign to get the traction your campaign will need to reach “the crowd” (people you don’t know).

We’ve found there is a difference between American and UK consumer behaviour on crowdfunding sites. We found that our campaign received good numbers of visitors but the conversion from our Facebook advertising and our database was not what we had anticipated. People can be scared off, or simply be confused about what they are there for, if they have not made a crowdfunding pledge before. I’d recommend providing a clear, short explanation on your pitch page explaining how crowdfunding works. UK consumers, in particular, seem less familiar with crowdfunding compared to, say, the USA.

“I wish we had worked with somebody independent to our campaign and company so that we had another perspective and view.”

Lastly, and I feel this sincerely, I wish we had worked with somebody independent to our campaign and company so that we had another perspective and view on how to approach our campaign. In my experience, you cannot cover enough angles when preparing for your campaign!

Hatty: Have there been any surprising outcomes from your crowdfunding campaign?

Kellie: Yes! it was disappointing that we didn’t hit our target but we have learnt so much and had such useful feedback we feel the campaign has delivered – just not in the way we expected.

We now know that we were not focused enough on finding that first 30% (of our target). It was dependent on us to get those pledges in and, whilst we believed we had these teed up, it took more than we anticipated to bring them home. The first two days of the campaign were exhausting, asking friends and family to pledge. If we had understood the importance of this better, we’d have prepared more pledges before going live.

That said, we’ve had amazing feedback regarding the new product. That’s been insightful. We know we have a desired product, but we now realise there is another way to deliver this – as an add-on option rather than a bespoke product. We had considered this before but had opted to make a stand alone product. It was feedback by via the crowdfunding campaign that has caused us to re-think this decision. We have a better product as a result.

Another unexpected outcome has been the amount of exposure our business has received and the impact this has on sales. We’ve had some lovely PR which has been brilliant (including a spot on BBC Business Breakfast). Better still, we’ve seen this exposure directly impact on sales. Our sales are up almost 20% which is thanks to the crowdfunding campaign exposure. Experience tells us that this will also bode well for the all-important Christmas sales period too.

“All in all, crowdfunding been a win win situation for us.  We have collected so many assets from the experience. It was never our intention to use the campaign as a market research or selling exercise but that has been the unexpected result. If you look at the pound for pound result – it’s been great value.”

 

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

How to create an executive summary that attracts investors

A practical, results-focused masterclass that gives you everything you need to create an Executive Summary for business angels or crowdfunding investors that really sells your investment opportunity.

Developed with input and feedback from active investors, you will:

  • Learn to use the 7 Essentials of a successful pitch to structure your Exec Summary
  • Do a practical exercises to describe your business in one succinct sentence
  • Receive a ready-to-use Exec Summary template which investors love
  • Develop a series of “proof points” that show investors you have traction
  • Discover the three most important things to include in your Exec Summary
  • Receive a supporting workbook, additional resources and proven tips

In addition to the live and interactive online masterclass, if you submit your draft Executive Summary (using the template provided in the Masterclass) the course leader, Hatty Fawcett, will conduct a review of this and provide detailed feedback and suggestions for improvement, giving you additional confidence that you have an Exec Summary that will attract investors.

 

Places are limited to ensure a good interactive experience.

What people say about the masterclass
“Booking this masterclass was the best money I’ve spent. I left feeling inspired, more knowledgeable and confident that I had a one page exec summary worthy of any investor table.” Arran Campbell, MyKoolBox

“This masterclass helped me create a successful Executive Summary. Hatty is fun to work with, smart and has a bounty of real-life experience that she generously shared with our class. I have a new, more professional perspective on how to present my company and talk to investors.” Magi Raible, LifeGear Design

Duration: 90 minutes
Location: Online, using Zoom video conferencing
Presented by: Hatty Fawcett, Focused For Business
Fee: £200

Book your place on the next masterclass

If you can’t see the booking form, book your place via Eventbrite

About Hatty
Hatty Fawcett is the founder of Focused For Business. She raised two rounds of investment for her own business venture and now supports others in raising investment, predominately through business angels and crowdfunding. She runs a series of online masterclasses, a Fast Track To Funding coaching programme and Crowdfunding Accelerator all of which are designed to make it quicker and easier to raise investment. Hatty also offers  a range of free webinars and Funding Clinics. Hatty regularly speaks on the topic of raising investment and is an active blogger on the subject.

What people say about working with Hatty
“Hatty is a great teacher! The rich content of the course kept me interested and helped me. This course has given me confidence.” Sue Frost, Co-founder Curamicus

“The webinars from Hatty are great but the best bit is the interaction with the other participants and hearing how they are approaching their journey to investment.” David Toscano, Cin Cin Italian Canteen

“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

“Hatty’s content was excellent and I learnt far more than I had imagined. We had a good laugh whilst getting some serious work done.” Sharon Maddy-Patel, Maddy Lou Shoes

“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

You can read more recommendations on Hatty’s LinkedIn profile.

Book your place on the next masterclass

If you can’t see the booking form, book your place via Eventbrite

See the full range of Preparing for Investment: Online masterclasses

Crowdfunding Accelerator graduates raise almost £6600K of investment

Crowdfunding Accelerator graduates have raised almost £660K of investment for their businesses. They’ve all worked hard, done their homework and reaped the rewards. Congratulations to all our graduates.

Crowdfunding Accelerator, an eight week online programme, makes it quicker and easier to prepare for crowdfunding, focusing your attention on the things that really matter.

Find out more about Crowdfunding Accelerator

 

New crowdfunding regulation could make it harder to get accepted onto a crowdfunding platform

The Financial Conduct Authority (FCA) which regulates both peer-to-peer lenders and equity crowdfunding platforms has announced that it plans to introduce more regulation to protect potential investors and help them understand the risks of investing via crowdfunding.

Areas likely to come under scrutiny include:

  • more prescriptive requirements on the content and timing of disclosures
  • better management of conflicts of interest
  • improved standards of due diligence and
  • enhanced client assessment rules.

These changes could lead to new eligibility requirements for companies wishing to crowdfund and greater scrutiny of their businesses plans and forecasts, making it harder for businesses to be accepted onto equity crowdfunding platforms. It is also possible that crowdfunding pitches will require greater validation in order that risks can be more accurately assessed and reported.

Read the FCA’s an assessment of new rules for crowdfunding

Want help with your crowdfunding application and campaign? Learn how Crowdfunding Accelerator makes successful crowdfunding quicker and easier

“Crowdfunding enabled us to turn a shared vision into a tangible financial commitment” says Robert Woodford, Marketing Director for Deep Time Walk

Schumacher College in Dartington, South Devon seeks to inspire, challenge and question people as co-inhabitants of the world. They are an international centre for nature-based education, personal transformation and collective action. They offer a range of residential courses on ecological themes and transformative courses for sustainable living.

A number of co-creators from the college developed the Deep Time Walk App which provides a walking audio history of the living Earth, giving people a detailed and dramatised experience of the planet’s 4.6 billion year history.  During this educational walk, people walk a distance of 4.6 kilometres whilst listening to the Earth’s story (via the app) and are encouraged to connect their own short-lived experience of time on Earth with the vast expanse of geological time.

The college needed funds to complete development of the app and with revenue generated from the sale of the app hopes to raise sufficient investment to fund a number of bursaries for the college. On World Earth Day in April 2016 they set out to raise £21,000 on reward-based crowdfunding site, Crowdfunder.co.uk.

robert-woodford-from-vision-to-financial-commitment-websiteHatty Fawcett, experienced crowdfunder and Founder of Focused For Business and Crowdfunding Accelerator, asked Robert Woodford to share what he learnt from this crowdfunding campaign and to offer advice to others thinking about doing crowdfunding.

“Schumacher College has a strong alumni who share the Deep Time Walk ethos and vision for the world…it was a project born out of the work of the college and it was natural for us to reach out to this pre-existing community for support”

Hatty: What attracted you to crowdfunding?

Robert: Schumacher College has a strong alumni who share our ethos and vision for the world. Many of our alumni had undertaken the physical Deep Time Walk at the College (from which this project arose) and so had a strong affinity for the project. It was natural for us to want to talk to this pre-existing “crowd” (via a mailing list of 17,000 people) and share our vision. Crowdfunding enabled us to turn a shared vision into a tangible financial commitment of support for our project.

“It proved crucial to have advice upfront …we would have missed out if we hadn’t had all the elements of the campaign lined up well in advance.”

Hatty: How did you approach your crowdfunding campaign?

Robert: We did a wide review of best practices associated with crowdfunding and spoke to a number of people that had already managed a campaign, including yourself Hatty – your advice helped us think about the common pitfalls involved in the process of crowdfunding. The team at Crowdfunder were also a great help in providing support and advice both before and during the campaign. It proved crucial to have this information and advice upfront because, once live, the campaign moved very fast and we would have missed out if we hadn’t had all the elements of the campaign lined up well in advance.

I have to say, it was tough work and enduring attention to detail was needed in the weeks up to launch and then constantly throughout the campaign. Gruelling but rewarding!

“Crowdfunding takes longer than you might think. It’s gruelling but rewarding!”

Hatty: How long did it take to prepare your crowdfunding campaign?

Robert: We starting thinking about our campaign six months before we went live, and then planning started in earnest three months before. Crowdfunding takes longer than you might think. We’d expected to launch about a month before we actually did. It was the right decision to delay the launch as it meant we had everything lined up and, importantly, we secured upfront financial commitments which ensured the campaign was a success.

“The biggest challenge was getting the timing of these pre-pledges lined up with the actual day our crowdfunding campaign went live.”

Hatty: How much of your campaign target had you had promised by the time you put your crowdfunding campaign live?

Robert: We had about 20% ready to be pledged before we went live. The biggest challenge was getting the timing of these pre-pledges lined up with the actual day our crowdfunding campaign went live, and then timing the push out to the wider support base after this.

“One thing that worked really well for us was having incentives that were, effectively, limited edition.”

Hatty: What advice, tips or successful tactics would you offer to anyone preparing for crowdfunding?

Robert: Planning is essential – I can’t stress that enough– as is keeping the momentum going throughout the campaign.

One thing that worked really well for us was having incentives that were, effectively, limited edition. The rewards were also of high value to our target base for support. We made exclusive audio recordings with Satish Kumar, Martin Shaw and Stephan Harding, and provided an set of lectures which totalled over 4 hours. We also have put in the effort to produce an exclusive book and audio cd, which was attractive to potential supporters. And, we would only release a certain number for each reward category and when these were taken, that was it, they were gone. This encouraged people that visited our crowdfunding campaign to pledge, there an then, whilst they were on the site. If they’d waited the reward might have run out.

We used several tactics here:

1) We kept the number of each reward low so that people were encouraged to pledge before a reward ran out.

2) We offered an incentive that the first 50 people that pledged would receive access to an early version of the product, which really helped bring in the early pledges.

3) Half way through the campaign, we launched a match-fund campaign, which brought in a substantial mid-boost to our crowdfunding campaign. It worked so well it enabled us to add stretch targets which provided further momentum to the project.

“We launched a match-fund campaign…and what started as a £1,000 commitment became an £8,000 investment.”

Hatty: How did the match-fund incentive work?

Robert: Essentially, I got three donors in place who each promised to contribute a relatively large sum if we raised matching funding through the crowdfunding site. It was difficult getting the first major donor but, once we had one on board, it was easier to encourage others. The first donor offered a commitment of £1,000 if we could match it through the crowdfunding site. I then got a commitment of a further £3,000 from another two donors. This created a theoretical match-fund pot of £4,000. All we had to do was raise the same amount of money through our “crowd” and that would trigger the match-fund investment. Our wonderful “crowd” came up with the goods on the same day we told them of the initiative! So, what started as a £1,000 commitment became an £8,000 investment. In fact, we actually went over the target amount before the match-fund was pledged and so we pushed on to reach towards our stretch target. Originally we’d hoped to raise £21,000 but we actually raised over £26,000.

Match-funding really incentivised our crowd and our match-funders were excited by it too. They felt they were doing something special which boosted support generally.

“We’re no longer a team of eight, but a community of 267 with a common passion and commitment to the project”

 Hatty: Would you do crowdfunding again?

 Robert: Yes, it’s an exhilarating if sometimes stressful ride, and it was wonderful to be part of a project that not only delivered the investment, but also has the potential to change people’s perspective on their place in the cosmos and how Earth formed over 4.6bn years.

Perhaps even more importantly, we’ve created a growing community around this project. And that’s more compelling than the app on its own. We’re no longer a team of eight, but a community of 267 with a common passion and commitment to the project and it’s potential to give anyone, anywhere on the planet a perspective of deep time and where they came from”. If we nurture this relationship there are lots of opportunities down the line to do other things.  Now, that’s exciting!

To find out more about the Deep Time Walk, visit deeptimewalk.org or join them on their facebook page at www.facebook.com/deeptimewalk

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