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How is Crowdfunding Like Long Distance Running?

06.17.2013
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While going for a nice, long run this morning, I realized that my usual workout has similarities to crowdfunding. I also realized I need new running shoes, but that’s neither here nor there. You may be asking yourself, “But Alan, how is a long distance run similar to crowdfunding?” Well, there are actually a few similarities that I noticed:

Having a goal

Before I even begin my run, I have a goal in mind. This goal includes the distance I want to run, as well as a maximum amount of time in which I want to complete that distance. Your crowdfunding campaign also has both of these elements. Think of your distance as your monetary goal amount, and your time frame as your project completion date. Your goal is to reach that fundraising amount within your timeframe in order to have a successful campaign.

Maintaining a positive mindset

You wouldn’t start a long distance run thinking to yourself, “Yep, I am definitely going to fail,” would you? Of course not, you go into it head first, telling yourself “I can, and I will succeed.” Well, the same applies to your crowdfunding campaign. Why would others believe in you if you don’t even believe in yourself? Just like long distance running, you have to take your campaign by the reigns and tell yourself you’re going to succeed.

Prepping prior to starting

There are a few things you have to do before you even start running. You have to dig your running shoes out of the closet, put on some comfortable clothes, and definitely stretch. A long distance run without these steps would spell disaster and so would a crowdfunding campaign. No, you don’t need to stretch before you launch your campaign but there are a couple things that you should do. First of all, reach out to your network. Tell them you’ll be starting a campaign and ask them for their support. We’re talking Facebook, Twitter, relevant bloggers, work colleagues, friends, family, and anyone they know as well. Also, have a plan of action by knowing what steps you’ll take at various points in your campaign, which brings me to my next point:

Pacing yourself

If you’ve done a long distance run, you probably know it isn’t a good idea to start off sprinting and immediately exhaust all of your energy. The key is to pace yourself over the course of your run. The same holds true for your crowdfunding campaign. Typically, a campaign renders a U-shape, with the most energy going towards the beginning and the end, with a lot of inactivity happening towards the middle. Don’t get campaign fatigue, plan on dedicating an hour or two each day in order to even out your workload throughout the entire course of your project. This way, you are better able to stay on track as well as increase your chance of success.

Cooling down afterwards

You’ve done it. You crossed the finish line and it’s all over. But is it? Almost. You have to stretch one more time in order to prevent muscle injury and thank those who believed in you. In your crowdfunding campaign, there’s also a cool down. You’ve reached your goal but now you have to send out your Kudos (rewards) to your contributors. Be sure to thank everyone who helped and supported you along the way, whether monetarily or by spreading the word about your campaign.

So in a lot of ways, having a successful campaign is similar to a long distance run. It’s the prepping, attitude, and good pacing technique that both successful runners as well as successful crowdfunding campaigners use in order to reach their goals.

Republished with permission
Published at DZone with permission of its author, Dan Salganik.

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