Never lose track of campaign planning again: The IHK Crowdfunding Canvas is here! The canvas allows you to visualize and test ideas. The canvas is divided into eight different segments that help project starters put their various ideas on paper and structure them. Using sticky notes, thoughts and ideas can be distributed across the different segments and continually reorganized.
Anyone planning a crowdfunding campaign has a lot to think about. With all these ideas, it helps to structure your thoughts and put them down on paper in an organized manner. You can now use the IHK Crowdfunding Canvas for this!
Key questions of a crowdfunding campaign
Vision & Motivation
It all starts with the 'why': Why are you doing what you're doing, and why is it important that others support you? If you want to convince others, you have to be 100 percent convinced yourself. It sounds banal, but it isn't. Be clear about your motivation and vision behind the project, and also what added value your supporters will get from it.
Project goal & implementation
Only those who know their goal will find the path. It's doubtful that the Chinese philosopher Laozi (6th century BC) was thinking of crowdfunding when he coined this phrase, but it hits the mark. Before you start, you should determine how you intend to implement your project once the funding is successful. Intermediate goals and a project plan, independent of crowdfunding, are helpful here.
Funding type & platform
The choice of funding type and platform depends on what you want to achieve: For example, is it about finding investors, market testing, reach, or internationalization? All of these factors can influence the choice of platform. Furthermore, the project should fit the focus of the selected platform. Anyone who wants to launch a platform-independent crowdfunding campaign should plan for more effort from the outset.
Community
Ideally, there's already a community that can be activated for your crowdfunding campaign. A community needs time to build trust. Consider where to find this community and how to approach it. Perhaps you can also benefit from third-party communities, if they act as multipliers for your project.
communication
Every campaign needs a core message that the target audience will remember. The best way to achieve this is through a narrative that runs like a thread through the campaign and conveys your message. Storytelling is extremely important for every type of campaign. The narrative surrounding your campaign conveys your message to the crowd in many different ways. Record the individual measures in a separate communications plan so you don't run out of steam during the campaign and can continually fuel your campaign with content. An overview of the content will also help you select the right communication channels.
Rewards for supporters
Those who receive support should say thank you. This isn't just a matter of good manners, but also a key success factor in crowdfunding. Choosing the right rewards requires careful consideration. Choose rewards that fit your supporters, but also your campaign story.
Cost calculation & target amount
Not only must the costs of implementing the project be clear at the start of the campaign, but also any hidden costs. These include, for example, costs for applicable taxes, the crowdfunding platform's commission, and, if applicable, transaction fees for the payment service provider. A close look at the terms and conditions will protect you from unpleasant surprises. Only with transparency about all costs can you realistically set your funding goal and know whether you need to plan for additional financing options.
resources
Resource planning is an important aspect of any campaign, and one that shouldn't be neglected. This will come back to haunt you once the campaign gets going and responsibilities become unclear. A clear allocation of tasks within the team helps you work efficiently and avoids duplication of effort or tedious coordination when time is running out. A resource plan also shows you where your weaknesses lie and where you might need external help. Crowdfunding is a full-time job during the campaign, so consider what time resources you realistically have available.
Good to know: What to expect besides your crowdfunding campaign
A crowdfunding campaign can be the first step into entrepreneurial activity for project starters. Therefore, campaign planning is an early stage in legal, tax and formal Questions. The Chamber of Industry and Commerce for Munich and Upper Bavaria provides free information and assistance with these questions.
Legal basis for (reward-based) crowdfunding
Depending on the type of compensation offered to supporters, different contractual relationships arise between the project starter and the crowd. Supporters often receive a product as a thank-you gift as part of the campaign. This legally creates a purchase contract between the project starter and the supporter. In this case, crowdfunding is subject to the legal regulations governing online commerce.
Further information on e-commerce can be found here.
In addition to purchase agreements, other forms of contract may arise. Therefore, it is better to check how the promised consideration will be treated legally and tax-wise before the campaign. For an overview of legal and tax issues, see here.
Warranty and product safety
In the case of a purchase contract, the project starter is liable for any defects in the agreed consideration (“warranty”) as well as for damages that may arise due to a lack of safety of the product (“Product liability”).
Crowdfunding and taxes
From a tax perspective, a crowdfunding campaign can quickly become complex. Therefore, project initiators should definitely seek the support of a tax advisor. In principle, taxes are also incurred with crowdfunding – depending on the type of consideration and the status of the project initiator. The Chamber of Industry and Commerce offers general information on the topic. VAT and other taxes for start-upsIn addition, the industry association German Crowdfunding Network provides a brochure on the tax treatment of crowdfunding on its website.
Protecting inventions, know-how and products in crowdfunding
Technical inventions can be protected by a patent or utility model. For the design of a product, however, a design is the appropriate protection right. The Chamber of Industry and Commerce provides information on which right is appropriate and when.
Crowdfunding international – export, countries and markets
Internationally oriented crowdfunding campaigns are subject to customs and foreign trade regulations upon the dispatch of the consideration. The Chamber of Commerce and Industry provides information on the requirements of various markets and countries. You can find more information about the Chamber of Commerce's Internationalization Service Department here. here. A lot of important information on current import regulations and customs duties is also available at Foreign Trade Portal Bavaria.
If you have specific questions about crowdfunding, please contact us directly by email. crowdfunding@muenchen.ihk.de.
If you are planning a crowdfunding campaign, you can book a consultation with Linette Heimrich and get valuable tips and information about crowdfunding. Three to four times a year, the Crowdfunding Night In addition, the crowdfunding Facebook group current topics discussed and questions about crowdfunding answered.
… and for all those who would like to be trained as a crowdfunding manager: In 2016, the specialist seminar “Crowdfunding Manager IHK” offered again – more information about the program and registration can be found on the website of the Chamber of Commerce and Industry Academy.
