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IT TAKES A VILLAGE continued from page 45 can access any funds pledged regardless of whether their goal is met, while start-ups must meet their goals to receive any funding. one of the reasons Natalia Rodriguez used crowdfunding to help create a line of instant coffee cubes made from vegan, non-GMO ingredients. THE WINDING ROAD TO FINDING SUPPORT LA MA NO C O FF EE B A R The "all or nothing" policy on Kickstarter proved problematic for Joya Iverson. Iverson launched a crowdfunding campaign on Kickstarter in June 2013 to raise capital to open a neighborhood coffee shop and roastery in South Seattle. She set a $58,000 goal to cover renovations and equipment. CROWDFUNDING BASICS Crowdfunding takes time and effort. Follow these tips to boost the odds of a successful campaign: CREATE A VIDEO. A video helps create a connection to your brand. "A picture of a cup of coffee isn't as inspiring as someone talking to the camera about their dream," says Alex Sheshunoff, president of crowdfunding platform Foodstart. Your video doesn't have to be Oscar-caliber, but it should offer an authentic explanation of your goals. TIN UM B R ELL A COFFE E SHARE SPECIFICS. Take time to craft a detailed explanation of why you're raising capital through crowdfunding and how the funds will be used. The more specific you are, the easier it will be for backers to decide whether to support you. A few hours after the campaign went live, Iverson started receiving requests for media interviews, and financial support came pouring in. When the campaign ended 30 days later, 399 backers pledged $41,642 to help Iverson open Tin Umbrella Coffee. Because the campaign failed to meet its funding goal, Kickstarter returned pledges to backers and Iverson was back at square one. "I underestimated how much time it would take to promote the campaign, and it was a lot to juggle with construction and building a business," she says. "To get that kind of funding, managing the campaign is a full-time job." Iverson dipped into her retirement savings, but the cost of opening a café exceeded her 401(k) funds and she decided to give crowdfunding another shot in August 2013. This time, she posted her campaign on Indiegogo. In two weeks, she managed to exceed her $18,500 goal and raised $29,525 to open Tin Umbrella Coffee. "I think one of the reasons that backers wanted to support the project is because I was connecting people to my dream," she says. "They really wanted to be part of making it happen." The opportunity to connect with prospective customers was 46 Fresh Cup Magazine | freshcup.com THINK THROUGH THE REWARDS. To show appreciation for supporting a project, creators offer rewards to backers. The incentives can range from a pound of coffee or a gift certificate to a behind-the-scenes tour—the higher the amount pledged, the sweeter the reward. "You have to do the math," advises Tim Davis of Oregon's Vernonia Coffee Roasting. "It's not just [the cost of] a pound of coffee but the packaging and shipping costs to send it to backers." PROMOTE THE CAMPAIGN. To spread the word to potential backers, share links on social-media sites, encourage backers to post the link to their networks and contact media outlets about covering the campaign. Anything you can do to draw attention to your campaign will help you reach your funding goals. Before she invested in product development, Rodriguez wanted to know whether the freeze-dried coffee cubes, which she discovered while visiting family in Colombia, would catch on in the United States.