Crowdfunding to get money is rapidly gaining popularity as a way for start-ups to get their businesses going. It doesn’t require winning over investors, and it gains attention for your start-up before its launched. Additionally, it helps you evaluate what kind of demand there is for your product.
But even more, it gives entrepreneurs hope. So, if crowdfunding is well planned and executed, it may generate enough money for you to live your dream…
However, success doesn’t just happen. Indeed, with every success story comes a lot of guts, sweat and tears. In fact, running a crowdfunding campaign is no different.
Lean Start-ups are used for developing products and businesses based on ‘validated learning’, getting customer feedback quickly and often. It was introduced by Eric Ries during 2011 (1) with the objective to eliminate uncertainty in the product development process. Since then, this practice has transformed the way companies are developed (Natasha Hussein, Entrepreneur).
Most astonishingly was the news that Lean start-ups have made business plans redundant. Indeed, a whole industry has grown up around the idea that business plans are now no longer necessary, says David Ehrenberg, Young Entrepreneur Council in the Chicago Tribune.