Crowdfunding Helps Entrepreneurs Build Startup Teams From Scratch

When you find candidates through your crowdfunding efforts, you gain a few distinct benefits.

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Photo: Sohin Shah, Founder of iFunding; Source: Courtesy Photo
Photo: Sohin Shah, Founder of iFunding; Source: Courtesy Photo

Crowdfunding platforms have opened the financing floodgates, giving hopeful entrepreneurs a realistic shot at pursuing their wildest startup dreams.

But beyond the obvious fiscal advantages, crowdfunding your startup also cuts through one real and present entrepreneurial burden: building an all-star team.

When my own startup — a crowdfunding platform — raised $2 million from accredited investors, leading publications such as CNBC and Forbes picked up our campaign, and our brand was pushed to the forefront of industry conversation.

But crowdfunding wasn’t just about wooing potential investors and gunning for press mentions. By the end of it all, we also walked away with an educated, ambitious team behind us.

 

Benefits of Crowdsourced Talent

When you find candidates through your crowdfunding efforts, you gain a few distinct benefits:

 

  • Passionate team members.

    The individuals interested in working for my company after the crowdfunding campaign were clearly passionate about it. They understood our mission and sought us out through nontraditional channels, which allowed us to better gauge their potential than through traditional HR channels.

  • Informed risk takers.

    The candidates we hired had also done their due diligence and asked the right questions about every vertical of our company during the crowdfunding process. We could skip traditional icebreaker interview questions because they already understood the potential risks and rewards of joining our team. Instead, these candidates could offer real recommendations for growing our company.

  • Organizational transparency.

    The biggest advantage to hiring through a crowdfunding platform is transparency. Users create profiles, allowing you to view their interests, social media pages, project history, and more. On our end, we had to upload the company financials, pitch deck, growth numbers, and more so potential hires knew exactly what they were getting into.

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Vet Potential New Hires

Although you’ll meet plenty of qualified job candidates, not everyone will be an asset to your company. Vetting potential hires took time, but it also gave way to fascinating conversations about our company and industry.

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