Wednesday 24 September 2014

Bret Conkin CEO of Crowdfundsuite Speaks Indepth on His New Venture

Bret Conkin CEO of Crowdfundsuite Speaks Indepth on His New Venture

Bret
Conkin CEO of Crowdfundsuite speaks with Michael Ibberson of CrowdClan
on his new venture and the diamics of running successful crowdfunding
campaigns from all sectors within the crowdfunding industry.



Michael Ibberson:
Since 2012, CrowdfundSuite has made significant grounds not just by
helping projects raise money, but also by assisting platforms and
brokers devise and implement strategies. Combining your knowledge of
portal and project operations, then, what key things should projects
look for in a platform? In other words, what factors markedly
distinguish one platform from another?


Bret Conkin: CrowdfundSuite
was launched in 2014 but I’ve been involved in crowdfunding since my
first start-up Fundfindr launched in 2008. Fundfindr was a network for
thousands of investors and entrepreneurs featuring pitches and expert
content that pivoted to provide educational and content services for
leading business orgs like Angel Forum, New Ventures BC, Community
Futures and many others. We were too early for equity crowdfunding but
we created a strong network and validation of the coming market.


After a couple of years as an executive with FundRazr, I left to launch CrowdfundSuite as
a hub that provides one-stop platform access across crowdfunding models
and expert consulting geared to helping intermediaries – platforms,
dealers, advisors – navigate and profit from the crowd economy.


In terms of platform selection, there are 3 key factors to consider for firms raising capital – Business stage, Business Sector and Platform track record:


1) Business stage


The amount of capital you need and the stage of your business are
critical to a decision on the model to use and platform to select. I use
the analogy of a ladder or Funding Escalator
where firms move up the escalator over time and as their funding
requirements increase. The models tapped into typically raise different
amounts in the range of:


1) Donations < $10,000

2) Rewards – $10 – $100k

3) Lending – $25-$150k

4) Equity – $250k – $3M


The Funding Escalator Concept:

- See more at: http://www.crowdclan.com/crowdfunding-insider/crowdfundsuite/#sthash.861LPFoK.dpuf
Bret
Conkin CEO of Crowdfundsuite speaks with Michael Ibberson of CrowdClan
on his new venture and the diamics of running successful crowdfunding
campaigns from all sectors within the crowdfunding industry.



Michael Ibberson:
Since 2012, CrowdfundSuite has made significant grounds not just by
helping projects raise money, but also by assisting platforms and
brokers devise and implement strategies. Combining your knowledge of
portal and project operations, then, what key things should projects
look for in a platform? In other words, what factors markedly
distinguish one platform from another?


Bret Conkin: CrowdfundSuite
was launched in 2014 but I’ve been involved in crowdfunding since my
first start-up Fundfindr launched in 2008. Fundfindr was a network for
thousands of investors and entrepreneurs featuring pitches and expert
content that pivoted to provide educational and content services for
leading business orgs like Angel Forum, New Ventures BC, Community
Futures and many others. We were too early for equity crowdfunding but
we created a strong network and validation of the coming market.


After a couple of years as an executive with FundRazr, I left to launch CrowdfundSuite as
a hub that provides one-stop platform access across crowdfunding models
and expert consulting geared to helping intermediaries – platforms,
dealers, advisors – navigate and profit from the crowd economy.


In terms of platform selection, there are 3 key factors to consider for firms raising capital – Business stage, Business Sector and Platform track record:


1) Business stage


The amount of capital you need and the stage of your business are
critical to a decision on the model to use and platform to select. I use
the analogy of a ladder or Funding Escalator
where firms move up the escalator over time and as their funding
requirements increase. The models tapped into typically raise different
amounts in the range of:


1) Donations < $10,000

2) Rewards – $10 – $100k

3) Lending – $25-$150k

4) Equity – $250k – $3M


The Funding Escalator Concept:

- See more at: http://www.crowdclan.com/crowdfunding-insider/crowdfundsuite/#sthash.861LPFoK.dpuf

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