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Crowdfunding business dreams

Posted on April 4, 2017 by admin

Crowdfunding can provide a platform for struggling start-ups to raise capital or businesses trying to get ahead with an injection of cash into a new project.

Although crowdfunding is still in its relatively early stages; it is rapidly gaining momentum. There has been a boost in crowdfunding due to the increase in the level of professionalism, ease of use and ability to access.

Crowdfunding describes the collective effort of individuals who network and pool their resources, usually via the internet, to support efforts initiated by other people or organisations. It allows an interested party to invest in an idea that they find inspiring.

Businesses also can offer perks in exchange for contributions, such as a discounted price of a product once it is developed. Crowdfunding has been used in support of a variety of efforts, including disaster relief, startup company funding and inventions and software development.

There are, however, terms and conditions of the projects listed on some crowdfunding websites. Kickstarter is an all-or-nothing platform, in that it only delivers the business the money if the project’s target is met. Sites such as Indiegogo will pay the business their money if targets are not met, though do charge higher fees.

To receive crowdfunding for a project businesses should consider:
– researching and learning from other successfully funded projects
– planning the project with a set of goals in mind
– having an active online presence, particularly on social networking sites, to spread the word of their project
– thanking all the supporters who contribute to the project

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Tips for incorporating career mentoring into your business

Posted on February 28, 2020 by admin

A career mentorship program involves partnerships between employees to develop professional skills and gain industry knowledge. Due to their requirement for a collaborative effort, career mentoring programs are often seen as powerful development tools for cultivating both leaders and employees within a business.

Whether you are a small business owner or a multinational corporate leader, the implementation of a mentorship program will always be profitable for businesses as not only does it create a harmonious workplace culture, it also helps to attract and retain employees.

As straight-forward as career mentoring sounds, there are a few key tips to keep in mind when building a mentorship program for your business:

Make sure your mentoring program is clearly defined:
To create a successful mentoring program, both mentors and mentees should have a concise understanding of their roles and what they would like to gain from the mentorship. By succinctly outlining the purpose of the mentoring program, mentors and mentees are more likely to keep organised and communicate respectfully with the guarantee of mutual rewards.

There should also be short-term and long-term goals established for all parties involved, including the business. These goals could be the narrowing of particular skill gaps or creating a more open workplace culture. By having these goals set in stone, both mentors and mentees and have a clear direction to work towards.

Personalise the match-making process:
Often times, businesses will match a mentor and mentee together depending on their skill-set and position within the company. While on paper, this may appear to be an efficient process, but the lack of chemistry between a mentor and mentee may prove to be devastating for the workplace environment.

As a result, be sure to involve both mentors and mentees in the match-making process and take into account personality traits. You could do this by asking employees to take a personality test to ensure compatibility in career goals, personal interests and preferred communication methods.

Be involved as a third-party:
Lastly, it is the responsibility of the business to check-in on the progress of mentorship programs in order to understand how mentors and mentees can grow together and what improvements can be made to the program. Remember to always refer back to the long-term goals established and consider the feedback provided by mentors and mentees from the program.

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