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Tag: Entrepreneur Success Stories: Under 25

  • Crush It With Crowdfunding: 7 Steps To Get Your Startup Fully Funded

    Crush It With Crowdfunding: 7 Steps To Get Your Startup Fully Funded

    If you’ve heard of crowdfunding, you’ve no doubt seen the heroic campaigns that manage to raise millions in just 30 days, exceed their goal by five thousand percent, and ascend to celebrity stardom on social media.

    If you ask me, saying “yes” to humble, transparent companies with homestyle videos has some serious appeal. No doubt that’s why over $16.2 billion was raised through crowdfunding in 2014.

    Despite all the bells and whistles, what’s not as well-known is the fact that 6 out of 10 crowdfunding campaigns fail to reach their funding goals. On all-or-nothing platforms like Kickstarter, this means companies lose all of the funds they raised.

    But don’t be discouraged, aspiring startups. This is actually a great opportunity to shine bright among a sea of dull contenders — with the right tools, of course.

    Meet Connor Young, a crowdfunding ninja who’s currently reached 391% of his campaign goal, a whopping $195k after being fully funded in the first 30 hours. I caught up with Young about his impressive feat on this week’s episode of Unconventional Life, “Hacking The Crowdfunding Algorithm: Get Fully Funded In 3 Days.”

    Young beat the crowdfunding odds with his product Ample, a complete meal-in-a-bottle made from superior, real-food ingredients. The formula sprung from years of research Young did himself, equipped with a biology degree and the rare kind of patience required to read through 800+ clinical nutrition journals.

    Young created Ample out of a desire to bring health to the “hacker house” he occupied in San Francisco, along with 50 other tech-type roommates.

    As a former CrossFit trainer, Young was surprised to encounter so many people who simply didn’t have time to prioritize nutrition. His housemates were working busy schedules and filling up on unhealthy convenience snacks.

    Troubled, Young sought to design a product that would both fulfill their nutrition needs and flow with their schedule. Over the course of the next year, he experimented with different combinations of real-food powders, amending the recipes daily.

    “The absolutely critical part was the fact I was in this huge house where constant iteration was required,” Young says. “There would be 20 people, everyday, who were like, ‘what’s the newest version of Ample? What’s going on?’ Because there were so many iterations of this and because people really did want it, it took off almost immediately.”

     In May 2016, Young launched Ample online via Indiegogo crowdfunding. Young now approaches the end of his campaign, with just over one week left.

    Below, Young shares the magic formula behind his crowdfunding success, so you too can crush your campaign in just 7 steps.

    1. Start 2-3 months in advance. Give yourself plenty of time to plan the campaign, create top-notch content, and coordinate the launch date. The growth leading up to the campaign is just as important as the growth during the campaign.

     2. Understand your customer. Narrow your market down to as small as you possibly can — build your campaign for a single “avatar” customer. Young defined his avatar’s idols and sent them them samples of Ample to get testimonials from people his avatar trusted and admired.

    3. Focus on the content. Write the entire campaign page before you begin anything else. Make sure it is organized and includes all of the relevant information. Then use the campaign page as a blueprint for your video, in which you’ll really bring your product to life.

    4. Decide on a price that makes sense. Ideally, you’ll want your price point to allow you to reach your goal with just a few hundred backers or less. Keep in mind the average contribution tends to be about $75, so you won’t actually need to aim for as many backers as you think.

    5. Create a “lifetime” perk. Give your backers the option to enjoy your product for life. Young priced a lifetime supply of Ample at $5,000, which enabled him to reach his goal quickly — viewers saw plenty of money funneling in early, which increased Ample’s credibility and perceived value.

    6. Invest money into your campaign. It’s worth it to invest some money into your campaign upfront so that it appears professional, polished, and valuable. Consider hiring a film crew, a graphic designer, and an editor. The better your campaign looks, the more backers you’ll attract, so consider it an investment that will pay for itself.

    7. Ride the wave of momentum. “People want to bet on a winner,” Young says. “If you really want to make this thing successful, you actually need to hit your campaign goal not within 30 days but within 3 days.” Capitalize on the excitement at the beginning of your campaign to maximize backers early on, get on your platform’s featured page, and appear on podcasts to spread the word.

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  • Why One 24-Year-Old Decided To Grow His Business Without Startup Capital

    Why One 24-Year-Old Decided To Grow His Business Without Startup Capital

    Ask just about any founder the number one resource they feel they need to get started. The answer you will most likely hear? Seed money.

    These days, it has basically become a requirement for startups to get funding with venture capital. There’s an emphasis on scaling as quickly as possible, because growth is believed to reflect future success and an eventual high dollar payout.

    But does this method actually produce the desired results? Michael Levine of Global Food Solutions, a New York-based company that provides high quality, locally sourced food products to schools across the US, says he’s succeeded by following a different strategy.

    The 24-year-old CEO and chef now makes over $15 million in revenue annually, and hasn’t given stake of his business to investors. He says he isn’t willing to force business growth, and instead focuses on staying flexible and present.

    I caught up with Levine about his commitment to honoring the process of his startup’s development on this week’s podcast episode, “Why You Can’t Rush Growth w/ Food Company Founder Michael Levine Who Generates $15 Million In Revenue Annually.”

    It all started with a muffin. The artificially flavored, high-fructose corn syrup filled bakery item troubled Levine and inspired him to create a healthier version. He swapped oil for applesauce, switched to whole grains, and sweetened it with yogurt. At this point, he had no intention of impacting anyone else (like the three million students he does today) — he was simply focused on creating a quality muffin.

    When Levine launched the muffin, he focused on finding existing large scale networks of distribution, which let him to the NYC public school system. After sending a few emails to key decision makers branding himself as a recent college graduate looking to sell his product he was able to secure a meeting. Soon after he began receiving offers soliciting over one million muffins a month.

    Levine’s healthy initiative coincided with the launch of Michelle Obama’s “Let’s Move!” program in 2010, aimed towards fighting childhood obesity, which put the school food service industry in desperate need of nutritious food products.

    Although the monthly output of one million muffins would have yielded tremendous profits, Levine felt it was a stretch. He opted instead to grow the business at a pace he could manage, one step at a time–sourcing local bakeries for production and having his clients pick up the product instead of offering delivery.

    Levine was clear that he didn’t want to focus his efforts on playing in the ‘venture capital bubble’. As he saw it, “I struggled to comprehend this philosophy that it’s okay for a startup to not make money for long periods of time. I wanted to create a revenue generating model from the start instead of taking venture capital money, hiring a bunch of people, and growing the company overnight.” Levine goes on to say, “Let it grow at the rate it is supposed to without forcing that growth.”

    That choice proved to be incredibly valuable. In allowing the business to unfold naturally, without pressure from funders, Levine was able to focus on quality and production, which set his company apart from others in the industry. Ultimately, this led to over $15 million in annual revenue.

    Want to take a similar approach when starting your company? Consider the following steps to know when to back off and let your business run its course for a more natural growth process.

    It doesn’t have to be perfect to be profitable. When you let go of the need to be perfect, you open yourself up to release more products that will probably satisfy the market need just as well. “Some of the best baseball players in history bat 300 (out of 1000) and they’re getting paid 100 million dollars. So every ideation you have, it’s not going to be perfect, nor should it be,” Levine says.

    Don’t rush into growth. Growing should feel natural — think of how an organism grows at a steady rate to sustain itself every step of the way. If the lungs were to grow too fast, the tissue might tear and the entire breathing process would be destroyed. Allow your company to acquire the necessary resources in every department first, and you will find that when you are ready to upsize, the right opportunities will present themselves at the right time.

    Your first idea isn’t always your best. Give yourself room to go through the creative process. Levine shares, “I think a lot of people get stuck in the mindset that they’ve had this great idea and they’ve put the whole thing together and they plan to execute that, but a lot of times you can’t execute what happens on paper because there’s a lot of dynamics that are gonna change when you bring a project from inception to reality.” Be patient and let experimentation happen as often as it needs to.

    Failure is part of the process. Making mistakes is part of the natural progression of the creative process — it alerts you to what isn’t working so you can build a better product. The more you fail, the better the result you’ll end up with. Try to disidentify with the emotional aspect of failure and use it as a platform to improve. Levine says, “I view failure more as just you’re turning the car to the left and now you’re not going straight anymore.”

    This article was originally published on Forbes

  • One Millennial’s Open Conversation About Body Image As An Actress Turned Health Coach

    One Millennial’s Open Conversation About Body Image As An Actress Turned Health Coach

    In today’s world, we face a tremendous amount of pressure to conform to body standards. We are constantly bombarded with messages to ‘lose 10 pounds fast’ or ‘get in shape for bikini season.’ The implication of these messages is that we are not skinny enough, not in shape enough, and not sexy enough, as we are.

    It can be challenging to navigate these ideals while honoring yourself and your unique body. No matter what your body looks like, you have probably experienced some form of self-scrutiny or questioned if you have the “right” body. You simply can’t avoid the matter in a body-conscious world.

    Unfortunately, the body image conversation is often a silent one, between a woman and herself. It is generally considered taboo to voice the concerns you might have about your body and your relationship to food, especially as a woman entrepreneur or in a highly competitive workplace when you are being evaluated constantly.

    Until now, that is.

    One millennial is stepping up and giving a voice to the silent struggle billions of women know so well. She had a particularly rough journey with her body as a former TV actress–but now, she’s a women’s health coach and the youngest author at publisher Hay House, with her book, The Goddess Revolution, launching in June.

    Meet Mel Wells, creator of The Green Goddess Life, who I spoke with on this week’s podcast episode, “The Anti- Diet: How To End The War On Your Body w/ Hay House’s Youngest Author Mel Wells.”

    At age 18, Wells began her acting career and found herself immersed in a competitive environment that led her to make tough decisions. “When you’re in a world where you and your body is the difference between you getting the job and you not getting the job, you put immense amounts of pressure on yourself,” says Wells.

    For her, this meant going on crash diets and, ultimately, developing body issues as she tried to stay employable. One time, her producer met with her to discuss her body size. Wells reflects, “I was completely overwhelmed and turned to using food to control elements or numb feelings.”

    It took witnessing her dad get cancer to finally wake up to the reality of the damage she was doing to her body. Watching her dad fight for his health, Wells says she was confronted with the potential consequences for abusing her own body and resolved to become a health coach.

    Through working with clients, she was able to heal herself and put together a method that works to resolve body issues, encourage healthy eating, and restore body freedom.

    The Goddess Revolution seeks to take over as the new ‘anti-diet’ by sparking a new way of thinking that will help women end the war on their own bodies. By attacking modern issues like ‘fitspiration’ and the obsession with perfection caused by celebrity glorification and magazine airbrushing, Wells hopes to break the cycle of negative talk that keeps women from feeling fulfilled and fully self-expressed.

    For any woman, it is important to learn to honor yourself by honoring the relationship you have with your body first. When you have that strong foundation established you can more easily stand up for yourself in the workplace and say ‘no’ to objectification and discrimination in your career based on your looks.

    Relieving the pressure of body image starts by loving yourself. When you love yourself by loving what you are creating in the world, you can overcome any adversity.

    At age 26, Wells has certainly made waves and evolved into her true self despite challenges. Consider these three powerful lessons for navigating your own path.

    Lesson #1: Just go for it, even if you don’t feel completely ready yet. Wells says the best advice she ever got was to “start before you’re ready.” That means to summon the confidence to take action even if you don’t have everything figured out. Everyone makes mistakes, but they tend to be the best reflections for improvement.

    Lesson #2: Use your personal story to your advantage. The lessons you have learned along your own journey are the best source for credibility and experience. People will connect to your story and want to work with you because they know you’ve been where they are and have overcome it. Don’t be afraid to share any mistakes you’ve made as they can actually testify to how far you’ve come and show people there’s hope no matter where you are.

    Lesson #3: Don’t let your age stop you. When you’re young, it’s easy to perceive age to be a limiting factor to your success. Wells can empathize: “when anyone starts business in the coaching world it can be daunting to assume anyone wants your advice,” she says. But the notion that you’re not old enough to achieve what you want is simply false. Don’t apologize for your age; let your experience and results speak for how qualified you are. You never know, your young age may become your biggest asset someday.

    This article was originally published on Forbes