Eye on the Money: Why Data-Driven is the Best Approach to Crowdfunding

Smart Crowdfunding discusses how data collected in prelaunch can support informed decisions during a raise.

Video Transcript

Shane Liddell: A lot of the data you collect during pre-launch can help me approach management and say, "Look, based on the data. I don't think you should go any further. I think maybe there's an alternative." And then the ball's in their court. However, I know the answer generally is, "Yeah, let's go ahead." Their eye is on the money which of course that's the purpose of crowdfunding and that's why people come to it. The only thing I wish for, Seth, is that people would approach it almost seriously as if they would go into a bank meeting with a banker to ask for the money. They're going to do a lot of prep. They're going to maybe get a few spreadsheets together and a few, their pitch deck or whatever. And why don't they approach it the same is the real question when it comes to crowdfunding.

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