Venture Capital World Summit 2015 Palle Pedersen

“How to use new insights and cutting
edge proven business marketing
strategies essential for launching and
maintaining the buzz of successful
crowdfunding campaigns”.
Palle Pedersen
B2
D Coaching
“Helping You Learn, Grow
And Prosper”
www.bestbusinessdevelopmentcoaching.com/

• Presenter background:
• Past two decades an academic, complementary healthcare
professional, educator, internet and social media researcher.
• Has a wide range of multicultural interests in education,
research, business, history, science communication, data
mining research for healthcare and commercial product and
service projects.
• Works with an international group of marketers and
crowdfunding experts on various private, community and
charity projects.
• Since January 2015 self-employed/partner in B2
D Coaching –
"Helping You Learn, Grow And Prosper“ and research nerd in
crowdfunding.
Palle Pedersen, B2
D Coaching, “Helping You Learn, Grow And Prosper”, www.bestbusinessdevelopmentcoaching.com/

• I will point out and use real life examples why you may have had limited
success with growing your business and raising funds and how you can
change that today.
• Critical self-evaluation (internal & external reality) is vital to your business
growth and success because, it should be instantly obvious to your
prospects why they should do business with you (market dominating
position).
• Remember that running a business or a crowdsourcing campaign is not a
sprint, it is a marathon! You must be prepared to do whatever it takes
(comfort zones).
• In business good marketing is not the quickest way to success, but it is
the surest! In crowdfunding it is not only essential, but also the quickest
way to get results, but most people cannot do it alone.
Palle Pedersen, B2

Palle Pedersen, B2
• The presentation:
• The presentation will provide attendees with some new insights and
cutting edge proven marketing strategies essential for educating,
launching and maintaining the buzz around your crowdfunding
campaigns. Some fundamental aspects of what makes campaigns
successful or fail to reach their crowdfunding targets will be reviewed
through real case study examples.
• Just like strategic marketing there has to be a system and specific
steps to be done in sequence. With 160+ crowdfunding sites out
there some select the wrong platforms and strategies, which affects
the outcome of their campaigns.
• The presentation contrasts the traditional academic funding
application approach and perhaps seeking local business partners or
venture capitalist support with a no/low risk approach, where orders
and funds come in before products are produced and shipped and
hence, vastly increasing the chances of a successful campaign.

Get The Fundamentals Right First
Because….
Palle Pedersen, B2

Everything You've Ever Learned
About Generating Leads And Growing
Your Business Is Wrong!
Crowdfunding Requires A Complex
Mix Of Strategies And Is A Team
Effort!
Palle Pedersen, B2

• Most business owners start their own business and crowdfunding based on what
they are passionate about. Unfortunately, it takes much more than passion to build
a successful business and crowdfunding campaign (incl. non-profit).
•
• 1. You must have a specific vision (your big dream followed up by appropriate
• market research and the best business model).
• The effort required to raise £10.000, £50.000, £500.000 or £5.000.000 – one end
• result or a scalable campaign?
• 2. Thought (mindset) is the most powerful force in the universe:
• Our thoughts are the controlling factor in what we manifest and create in our
lives (internal & external reality).
• Use your thoughts to create a specific vision for your business and campaign and
then apply the right strategies and tactics to grow and develop that business or
campaign (create a buzz).
Palle Pedersen, B2

• What you need to know (facts):
• Creating a success mindset requires action (implementation) on your part.
• You must create a mindset that's focused on performing your highest impact and highest income-
producing activities on a daily basis (Pareto’s 80/20 rule).
•
• If you're not happy with your business's or campaign’s current results, then ask yourself a couple of
questions and be brutally honest as you answer it (get feedback from others).
- WHY are you getting such poor results?
- WHY are you failing to attract clients?
- WHY are you attracting the wrong clients?
- WHY are you failing to generate the revenue and profits you expect from your business?
- Why does there seem to be so little interest in your campaign? (early, middle, late buyers)
- Which medium is used to spread the message? (illustrations, story telling; it’s a numbers game;
market research search terms FB ads, Kickstarter, Ted, TedMed, etc. – “crowdfunding junkies”)
•
• One of the things that we have found over the years is that people who are broke, struggling or just
getting by - don't think the same way as people who are financially abundant. (McClelland 1950s,
Stanley & Danko: The Millionaire Next Door, 1996).
• They don't believe the same things as financially challenged people do, and therefore they don't
behave the same way.
• - In short, they take different actions. (purposeful behavior & self-discipline, reasons why)
Palle Pedersen, B2

• Why you need to know this (emotions & belief system):
• Small business owners have been mentally conditioned to behave in a certain way. They have specific
beliefs… such as "in order to make more money…”.
- “I have to work harder.” “Money is the root of all evil." "No pain, no gain." "Money doesn't grow on
trees." "If I don't do it myself, it will never get done.“ (academic fund raising, % share, corporate
model)
- “We cannot raise this much vs Who’s going to be on the team.” (Richard Branson) “Which
business model are we going to use and how can we scale it up?” Michael Gerber: The E-Myth
Re-Visited, 2004.
• These beliefs lead to specific actions such as working more hours and putting forth more effort in a
vain attempt to increase revenue and profits.
- That leads to specific results such as feelings of being overwhelmed, anxiety and frustration…
- and a deep-seated belief that more and more effort is required, even though results seldom if ever
appear.
•
• Do you know what your current beliefs may be costing your business today? For example:
• Do you succumb to mental barriers that may be sabotaging your success?
• Are you laser-focused on your highest income-producing activities (Pareto’s 80/20 rule)?
• Are you hiring, assigning, delegating or bartering all of your non income-producing and less productive
tasks?
• Do you know the specific steps you can take to immediately create a “success mindset (reasons
why)?"
Palle Pedersen, B2

MARKETING IS KEY!
•There are two main components to any marketing plan:
Tactical Marketing & Strategic Marketing
•Strategic Marketing
•
•Is the content of your message (evoke emotions)
•
•It's what you say and how you say it (copywriting, powerful words https://www.youtube.com/watch?v=yR0lWICH3rY)
•
•Tactical Marketing has to do with the execution of the Strategic Marketing
•
•Placing advertisements
•Building a website
•Attending trade shows
•
•Competes on price. Today’s customers want information.
•Only 1-5% of your available market is able to make an immediate decision (“now buyers”, impulse or emergency)
•The other 95% want more information to make a decision.
Palle Pedersen, B2

21st
Century Effective Marketing
• The key to effective marketing is to
• Master the Strategic side
• NOT the Tactical
•
•What you say in your marketing and how you say it are
almost more important than the marketing medium where you
say it. This applies to both business and crowdfunding.
Palle Pedersen, B2

What is the actual purpose of marketing?
• Marketing is supposed to help facilitate your prospect’s decision making process.
•
• Prospects need to buy what you sell people hate to be sold to but they love to buy.
•
• Sometimes they need to be educated to the fact that they need to buy what you sell in the first place.
•
•Other times they already know that they want it but they need help deciding who they should buy it from.
•
•Often they think they might want what you sell, but they have questions and concerns that need to be overcome.
•
•Prospects are not experts in what you do.
•
•They don’t really know the relevant issues surrounding the purchase.
•
•They don’t know how to make the best decision.
•
•They can't tell the difference between the BEST deal and a major mistake.
•
•This leaves an opportunity for you to provide them with this information … and then guide them through the buying
process (buyer’s journey).
Palle Pedersen, B2

• All Prospects and Customers want the same thing:
•
• They want to feel confident their money has been well spent.
•
• That their decision has been made to the best of their ability.
•
• They want to get the best deal.
•
• People instinctively want to make the best decision possible …. and not
feel like they’ve got to second guess their buying decision.
• Bonuses and added value vs. discounts. Make the bonus more attractive than
the actual product.
Palle Pedersen, B2

You as the business owner – marketer – fundraiser have to ….
•
• Figure out what’s important to your prospects (ask questions, “inside reality” vs
“outside perception”).
•
• Educate them as to what constitutes the best deal when it comes to buying what
you sell – VALUE, honesty, integrity.
•
• Then show them quantifiable proof that you actually provide the best deal in terms
of price and value (market dominating position).
•
• All this has to be communicated to them in a way they’ll pay attention to, believe in,
and then take action on (buyer’s journey involves several steps).
•Additionally for fundraising this means creating a buzz about your campaign.
Palle Pedersen, B2

• Regardless of how good you are, regardless of your inside
reality, your prospect isn't going to be able to figure out
your true inside reality based on your marketing.
• You simply appear to be just another business  or
campaigner that sells whatever it is that you sell or
campaign for.
• Even your best salesperson is never going
to close a prospect who doesn't know you exist...
and therefore never bothers to contact you
in the first place (mouse trap example).
Palle Pedersen, B2

Palle Pedersen, B2
• Crowdsourcing, a modern business term coined in
2005, is defined by Merriam-Webster as the process of
obtaining needed services, ideas, or content by soliciting
contributions from a large group of people, and especially
from an online community, rather than from traditional
employees or suppliers. (Wikipedia)
• Crowdfunding is the practice of funding a project or
venture by raising monetary contributions from a large
number of people, typically via the internet. Crowd-
funding is a form of alternative finance, which has
emerged outside of the traditional financial system.
• Statue of Liberty project

Palle Pedersen, B2
Comparison of crowdfunding services
•Crowdfunding is a process in which individuals pool
money and other resources to fund projects initiated by
other people or organisations. Crowdfunded projects may
include creative works, products, non-profit organisations,
supporting entrepreneurship, businesses, or donations for a
specific purpose (e.g., to pay for a medical procedure).
•Crowdfunding usually takes place via an online portal that
handles the financial transactions involved, and may also
provide services such as media hosting, social networking,
and facilitating contact with contributors.

Palle Pedersen, B2
The crowdfunding model (actors)
The crowdfunding model is based on three types
of actors:
•The project initiator who proposes the idea and/or
project to be funded.
•Individuals or groups who support the idea, and
•A moderating organisation (the “platform”) that
brings the parties together to launch the idea.
•In 2013, the crowdfunding industry raised over
$5.1 billion worldwide.

Palle Pedersen, B2
Types of crowdfunding
The Crowdfunding Centre’s May 2014 report identified two
primary types of crowdfunding:

1.Rewards Crowdfunding: entrepreneurs pre-sell a
product or service to launch a business concept without
incurring debt or sacrificing equity/shares.
2.Equity Crowdfunding: the backer receives shares of a
company, usually in its early stages, in exchange for the
money pledged.

Palle Pedersen, B2
• Some, but not all, crowdfunding projects offer contributors
rewards, which may differ based on the amount of money
donated.
• Rewards can include:
• Copies of a creative work, products created with the
funding, special or personalised incentives (such as
autographed works or promotional merchandise) or public
recognition. (Sydney Opera House roofing project)
• In equity crowdfunding, a crowdfunding approach is used
to raise investment capital and contributors receive equity
in the resulting business. Contributors may act as
investors and receive shares directly, or the crowdfunding
service may act as a nominated agent.

It’s not just about fundraising, but being part of a larger community!
Telling your story – Branding you.
• Who are you?
• Introduce yourself, your team, and any similar work you’ve done (
show some examples!).
• What are you planning to make?
• The more details, the better. Sketches, samples, prototypes — it all helps backers get
as excited as you are.
• Where did this project come from?
• Tell people how you got the idea, and how much you’ve accomplished so far. Sharing
the project’s history helps others understand the kind of work you do, and how you go
about it.
• What’s your plan, and what’s your schedule?
• Lay out a clear, specific timeline for what backers can expect.
• What’s your budget?
• A simple breakdown lets people know you’ve thought things through and have a
workable plan, so they can trust you to use funds wisely.
• Why do you care?
• Tell people why you’re passionate about your project and committed to making it
happen.

Offering rewards
• What should you offer?
• You know better than anyone what your community wants. Think of things that would
get you to back a project. Offer copies of your work in different formats, from digital
downloads to limited editions. Consider custom work and chances to be a part of the
process. (Brett McFall e-book on Ebay example)
• What should you not offer?
• There are a few things we prohibit, including offering financial returns and reselling
items from elsewhere. We also ask that you don’t offer rewards in bulk or wholesale
quantities. If a reward comes in a set or package, no problem.
• How to price.
• Be fair. When people think about backing your project, they’re asking themselves
whether your rewards are a good trade for what they’re contributing. The most popular
pledge on Kickstarter is $25 — it’s handy to offer something substantial around that
level.
• Offer a range of rewards.
• Some backers can spare $100, some $20, some $5. Every one of those backers
counts. Make sure there’s something worthwhile at every level — even
simple $1 rewards. You’ll need to produce and deliver every reward, though, so think
through each tier and make sure your budget works!

Getting Started
• Prepare an outreach plan.
• Before you launch, think through how you’ll approach promoting your project.
Research, research, research! Gather lists of relevant blogs, media outlets,
and online communities — like forums, message boards, or Facebook
groups. Compile your contact lists, and organise your strategy.
• Announce your project.
• Once your project is live, let people know! Share it on Facebook, and send
out a few tweets. Email friends and family. Keep your mailing groups small
and your messages personal, showcasing your project’s unique features and
rewards — a personal note tends to get a better response. Try not to
overwhelm people with e-blasts and group messages, but do remind your
networks throughout your project’s funding.
• Pitch the press.
• But first, do a little research. Google topics and projects related to yours and
see who writes about them, and find venues, publications and journalists that
cover similar work. Explore where your project fits in the broader context of
your field.

How to Pitch Your Project
• If you’re getting in touch with press, make sure to include the essentials: who, what, where,
when, and why. People appreciate concise messages that respect their time and give them facts.
Some tips to remember:
• Twitter is your friend.
• Many reporters list direct contact info there.
• Keep your contact lists targeted.
• Reach out to people and sources you know (from research) are interested in topics like yours.
• Mention who’s available for interviews.
• That goes double if prominent folks are involved in your project.
• Offer any content you can (prepared in advance, e.g. fact sheets).
• Show off a sample, a trailer, or a preview.
• Be thoughtful about timing.
• When will it be most relevant to cover your project? And how long do you think each media outlet
will need to prepare a piece? (do most of the work for them in advance)
• We (the platforms) have resources for you.
• You can provide press contacts with a link to our Pressroom for information on Kickstarter itself.
• Don’t be pushy.
• Be considerate — bothering people can have bad consequences for your project.

Delivery
• Estimated delivery dates.
• These are your best guesses for when you expect to deliver rewards to backers and is in part
negotiated with the manufacturers of your product. Don’t be afraid to give yourself breathing room
— it’s definitely better to underpromise and overdeliver.
• Shipping.
• As you add each reward, you’ll be able to specify whether the item involves shipping, which
locations you can ship to, and the shipping costs. Shipping costs which you set will be added to
backer's pledges as they check out, and count toward your goal.
• Limiting rewards.
• You can limit the available quantity of any reward tier. Quantity limits can also create excitement
around special-edition rewards or signed copies. Limited “early bird” rewards, where a certain
number of backers get something for a slightly lower pledge, can also help build momentum during
the project’s early days.
• Don’t forget the survey tool!
• You don’t need to build separate reward tiers for different styles of the same item. Once your
project is successfully funded, you’ll be able to send backers a survey to collect information like
their shipping addresses, sizes, colour preferences, and so on.
• Remember: once your project is live, you can add new rewards any time — but once someone has
pledged to a reward tier, you can’t change it anymore.
• If your goals are not met, you can still sit with a huge e-mail list of qualified and interested
buyers to contact for the next (improved) similar project. (building a brand)

Some essential checklist tools to be included in your strategy and launch
• Find in demand product
• When you look at “best seller” product an Amazon or Ebay, you’ll find
thousands of everyday items that are proven to sell. Use this as a starting
point, only. On the next few steps, you’ll niche further to stay competitive.
• Set a competitive price
• Margins are important. If you don’t have at least a 100% mark-up, you’ll be
unable to be profitable early on. A mark up of 5X or greater is preferred for
physical products. If you are selling a digital product, this is not a concern.
• Research competition
• Now that you have an idea of a product or two and it’s priced right, who else
is selling it? Do NOT compete with bigger, well-entrenched players. You need
to be unique and develop a niche. (i.e. Don’t just sell baby wipes, sell organic
baby wipes)

• Sales Components
• -Giveaway
• -Down sell
• -Up sell
• Take a lesson from Mrs. Fields cookies. They built their brand by giving away
a single cookie with the promise of selling you a dozen more.
• Many online marketers make their bonus item MORE valuable than the
product itself.
• Create a down sell product for those that don’t buy and an up sell product for
your loyal customers.
• Formal funnel (tools)
• You’ll need a detailed funnel in order to launch a product into 8 figure
territory.
• There are dozens of diagrams, flowcharts and other visuals to represent this.

• Hosting
• It doesn’t matter if you are an offline or online business, you’ll need a website and
hosting to go with it. Do you due diligence and don’t necessarily go with the cheapest
provider. Preferably use a hosting company that has telephone support.
• Autoresponder emails
• When you communicate with tens of thousands or millions of people, it will be
impossible to email them individually. Look into providers like Mailchimp or Get
Response to help you communicate to your group effectively.
• Domain
• Your product and company will be a brand. You’ll need a domain name
• www.myproduct.com to show you are serious and actually in business.
• Website (all pages)
• -webinar page
• -registration page
• -thank you page
• -exit pop up

• FB pages
• Do not use your personal page. 8-figure launches must have the perception
(and reality) of something bigger than your dinner or the latest Jimmy Falon
video. Set up a new page just for your product.
• FB groups
• Join relevant industry groups related to your product. Ask questions. Give
support. Become a servant-based part of the community. While you are at it,
set up your own group, also.
• FB events
• Set up an event for your product launch. Events have a more timely aspect to
them and give more urgency to your launch. Study successful events and
borrow the language, style and energy from them.
• FB ads
• In order to reach more than your existing friends, you’ll need to advertise.
Don’t venture into this area alone or with amateurs. Get professional ad help
from someone with a proven track record.

• Youtube Channel
• The web loves video. Set up a specific NEW channel for the launch of your
product. Put in case studies, tutorials and even raw footage of you;
developing and building your product and brand. People love a good story.
Make yours compelling.
• G+ profile
• The #1 search engine has plenty of self-love. Be sure to set up a G+ page
just for your product and brand. Fully populate the page with contact
information, pictures and videos; showcasing your product and the benefits it
delivers.
• Linkedin Profile
• Your Linkedin profile is your professional resume. But it can do much more.
Add a new company page featuring your new product and brand. Post
relevant articles and stories relating to your product. And (of course) any
stories you get printed about you, as well.

• Instagram
• Instagram is fast becoming the #1 picture sharing social media platform. Get
an account, populate it with images of your product or people using it. Get
professional help in building new followers.
• Pinterest
• Pinterest, while considered “old school” against Instagram, still has plenty of
traction. It’s not just for posting recipes. Duplicate your Instagram images
there and add a bit of flavour to the description.
• Other Places
• Don’t dismiss other areas of traffic for your launch. Websites like
craigslist.org, ebay.com and gumtree.com can give you additional traffic. You
may also enlist the services of SMS marketing other bloggers to help you
spread the word.
• Media
• Of all the things companies rely on to launch their products it is the media.
Getting on the radio or TV often becomes a watershed moment for product
launches. Start local. Contact your local news agency and offer to do a story
for them. For national syndication, check out www.AuthorityFusion.com

Joint Venture Affiliates
•Affiliate banners
•You’ll need a graphics professional to make a suite of banners for your
affiliates. Make a variety of horizontal and vertical banners. Also, be sure to
make them look professional and not overly ‘cheesy’.
•Sales page
•You’ll need an affiliate sign up/sales page. Getting affiliates interested can be
done on the phone, email, but they will all want to see your affiliate sales page.
•Email swipes
•“Talent borrows…genius steals” This famous saying by my University screen
writing coach is what swipes are all about. Use email templates from proven
launches that have had success and adapt them to your own.
•Management page
•Once your affiliates are signed up, you’ll need a portal for them to download
the videos, swipe files and even contest rankings. Many of the programs
available (see next point) have that in place already.

• Affiliate system
• There are dozens of choices on affiliate systems. Clickbank, JVzoo, and 1shopping
cart all have a variety of pro’s and con’s. Select the one that best suits your target
audience and your personal abilities.
• Give 50% commission
• When using affiliates to promote your launch—be generous. 50% commission is widely
accepted in the digital world. You may also consider a two level affiliate system where
master affiliates help you by registering affiliates.
• Merchant account
• In order to make money, you have to collect it! Paypal is the easiest place to start. It’s
free and widely accepted. If you already have a merchant account, get an interface for
collecting money online.
• Social proof
• In order to not “sell” but influence your audience and make them feel comfortable
about your product/solution, you’ll need case studies of success. Use 100% genuine
cases. Video works best. Ask your customers (or beta users) to submit them and post
to your new Youtube channel.
• Write a book. Nothing compares to the authority of being an author, especially a best
selling author.

Palle Pedersen, B2
• https://www.kickstarter.com/projects/118233123/misen-cook-sharp?ref=home_popular

Palle Pedersen, B2
• https://www.kickstarter.com/projects/ryangrepper/coolest-cooler-21st-century-cooler-thats-actually?ref=discovery

Palle Pedersen, B2
• https://www.kickstarter.com/projects/597538543/the-worlds-best-travel-jacket-with-15-features-bau?ref=discovery

Palle Pedersen, B2
• https://www.kickstarter.com/projects/skarp/the-skarp-laser-razor-21st-century-shaving?ref=nav_search

Palle Pedersen, B2
• https://www.kickstarter.com/projects/1977846026/meater-the-first-truly-wireless-smart-meat-thermom?ref=nav_search

Palle Pedersen, B2
• Questions & Answers
• Bonus package of resources
• http://www.fusionhq.info/?i=hhx1epXnyT1
• Palle Pedersen, B2
D Coaching, “Helping You Learn,
Grow And Prosper”,
www.bestbusinessdevelopmentcoaching.com/

•
• Bonus package of resources:
• At the meeting member attendees will be given FREE
access to some valuable resources and tools to help
them focus, strategise and implement key activities
necessary for successful business growth and
crowdfunding campaigns.

Palle Pedersen, B2
• Some selected tools and resources.
• A link to Dropbox will be sent out within 24 hours after the
presentation. It will include the full list of selected resources,
some full length e-books and other useful resources.
• www.e-coachingsystem.com free 73 minute video powerpoint
presentation with more details than the presentation (can download
audio & video files).
• Free university courses (best quality): https://www.coursera.org/ ;
https://www.futurelearn.com/
• (Coursera $49,- per course for attendance certificate and group
assessment tests done)
• Other courses: https://alison.com/ ; https://www.udemy.com/ ;
• http://www.lynda.com/ (subscription, some previews available; now
part of. Linked-In)

• Excellent resource for ideas for articles and topics are
free online magazines like http://www.issuu.com/home;
  https://www.magazines.com/magazines.html;
https://www.nextissue.com/home-test1/  ($10,- paid for)
•
• Ready made articles to copy and paste, create a book,
etc.. www.ehow.com (browse articles & videos by
category);   www.ezinearticles.com (search article
categories); www.about.com (scroll down and search
index).

• Audacity – audio file creation
(http://sourceforge.net/projects/audacity/.
• Youtube.com - create video or powerpoint/slide
presentation video with sound.
• http://biz-tutorial.com/jay-abraham-chet-holmes-peq-ii-
performance-enhancement-quotient/ Extensive business
resources from the masters.
• http://www.businessballs.com/ Comprehensive
business, management, leadership, business plans, time
management, personality profiles/tests and other useful
resources. Partnered with free e-leadership academy
https://www.accipio.com/eleadership

• Magazines and publishing apps:
• http://typeengine.net/ publishing platform
• Issuu - online magazine and publishing platform
• Next issue - online magazines

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