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Reaping the Full Benefits of Crowdfunding

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When Andrew Thomas launched his crowdfunding campaign for Skybell, a Wi-Fi-enabled video doorbell, he set out to raise $100,000. Thirty-five days later, he surpassed his goal and raised $585,000. WayFounder CEO Damon D’Amore sits down with Andrew to learn how he made the most out of his crowdfunding campaign. Between creating a compelling video, generating market validation, and managing post-campaign logistics, there are a lot of steps to consider. What’s more, there are some unexpected side benefits to crowdfunding! Devices like Skybell are looking to be the future of home automation. What would you like to see automated in YOUR home? Let us know in the comments below! Watch more small business owners who are using new rules to succeed. Click here to see more episodes of New Rules for Business: https://www.youtube.com/playlist?list=PLTkzAGkOKIh2WCiMx5Xk5bIN47FrSkAYl Get ideas for YOUR business by visiting American Express OPEN Forum: https://www.americanexpress.com/us/small-business/openforum/programhub/move-your-business-forward/?pillar=find-ways-to-innovate
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Text Comments (18)
Yes u USA No1
Julie Simpson (2 years ago)
Not sure how to choose a crowdfunding platform from the thousands that are out there? Would you like a platform where people are there to help you every step of the way? From planning your project, advertising, answering all of your questions and reaching your goal? Want a platform that doesn't give you a time limit to raise your funds, charge you on every transaction, is there for you 24/7, and offers a facebook group for additional support? Come and join the FB group and see for yourself, get all the facts and then make an informed decision. Follow this link... https://www.facebook.com/groups/194816150917422/
Enzo D (3 years ago)
Awesome video buddy!! If anyone here is serious about Crowdfunding, this might interest you. I enrolled in « Incredible Dream Machine program by Greg Jacobs and Tim Godfrey » You can google it, It’s one of the most complete educational program available about Crowdfunding and how the guys show how they raised 100K in 24h and explain everything in a clear step by step. This program cost me $2900 to get in and it was worth every penny. Now I’m willing to sell my copy to anyone serious about Crowdfunding at a very tiny fraction of the price. If interested please reach me at 1000appreviews @ gmail. com (remove the space) or via skype support.1000appreviews
Victor Rey (3 years ago)
I want a bathroom that doesn't stink after someone uses it!
www.PICISI.com (4 years ago)
well done video.   PICISI has great perk sponsors if anyone wants a sponsor for their campaign let us know. oh, we also have 4 admin positions available
Luis Santiago (4 years ago)
Hello my name is Luis Santiago and I'm writing a book about tattoos. I'm also a poor veteran and need a shout out for a Indiegogo. Please help me promote my book. God bless you all. -Lou https://www.indiegogo.com/projects/hitchhiker-tattoo-road-trip-photo-book/x/8827072
k8 (4 years ago)
Great host and great companies - would love to see more!
Tamaroland Pictures (4 years ago)
Brilliant and perfect timing. Was just thinking about a crowd funding campaign for my film based on best selling book A Mango Shaped Space about synesthesia. Tired of waiting for producers and was JUST about to powwow with the book's author about raising money to go out to Tilda Swinton and Geoffrey Rush to attach, who both have synesthesia. I learned so much watching this. ALSO love the Skybell product and would definitely want one. Additional concepts I'd love to see - control my radiant heat settings from my iPhone while I'm out and about. Same for porch light and some interior lighting. I do like the chocolate milk concept tho. A kill switch for WiFi while I'm sleeping would be great too. 
Phumlani Mahlangu (4 years ago)
Damon, this is truly inspirational brother
Stephen Rezza (4 years ago)
A bathtub that burns calories with every soak! Haha, awesome video! 
Jennifer Kushell (4 years ago)
I'll take that fridge that makes chocolate milk. :)  And the Skybell.  Awesome show Damon!  Can't wait for more from you.  You're so perfect as the host.  Beautifully shot episode too.  Good luck!
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Eddy Pham (4 years ago)
Amazing piece and love the story. The focus and message is spot on. Damon asked the right questions and the answers drew me in. I agree the "after" the campaign is just as and more important after the successful raise. Great job and thanks for sharing the message.
Andrew Thomas (4 years ago)
Hi Cynthia, we used Indiegogo. It was a great experience and we recommend them to anyone considering a crowd-funding campaign.  www.indiegogo.com
Kenny G (4 years ago)
Chocolate milk lol
Cynthia Wylie (4 years ago)
Great piece. What crowfunding platform did he use? What would I like to see in my home? A rectangular dining room table that easily expands to fit 12 - 14 people. But can shrink back down to regular size. I have a big family and often do family dinners.
www.PICISI.com (4 years ago)
@Kenny G huh? where did you get that from?
Kenny G (4 years ago)
They used kickstarter.com

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