Crowdfunding

Don't Be Disheartened if You Fail to Hit Your Crowdfunding Goal

Entrepreneur Staff
Staff Writer. Covers leadership, media, technology and culture.
3 min read

If your first crowdfunding campaign doesn't reach its funding goal, it's easy to be disappointed. But crowdfunding expert Sally Outlaw says a first failed attempt could actually act as the foundation for a successful second go at it.

According to Outlaw, the aftermath a disappointing campaign is the right time to take a step back and reassess, giving you the opportunity to overhaul your rewards to make them more compelling or reconsider your pricing and place in the market. Ultimately though, the potential customers who thought enough of your product or service to back it in the first place will be excited to invest in the idea again.

"Most of the successful campaigns were not successful the first time. What happens when your campaign fails is you can take all those people who supported your project initially when it was unsuccessful and you can harness them to launch you second campaign," says Outlaw, co-founder and CEO of crowdfunding consulting firm Peerbackers.com, .

Check out the video above for more.  

Related: 5 Tips for Beating the Odds When Crowdfunding

More from Entrepreneur

Grow Your Business at Entrepreneur LIVE! Join us on Nov. 16 in Brooklyn, NY, to learn from legends like Danica Patrick and Maria Sharapova, pitch our editors, meet with investors, and potentially walk away with funding!
Register here

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.