Last week, I walked in faith and not by sight when I launched a crowdfunding campaign
on IFundWomen.com. Although MG Studio has received support and contributions, we also welcome questions, ”why did you select crowdfunding?” Or” what is crowdfunding?”. When I first decided to create my products, I asked myself, why are you trying to recreate the wheel? For years I have researched all the product companies I loved and used, then researched products I didn’t like to use. I wanted to understand what I was getting myself in. The more I tried telling myself that I didn’t need to create a hair care product line, the more reasons raised why I should. Using my entertainment funds, savings, and of course, half our income, I went to work. With that investment, MG Studio began to grow. As it became, it also needed more funds. Its a great sacrifice growing a business and growing a family. Although this is a great sacrifice, it is one that I would do again if I had to. MG Studio began to run itself, which I loved.
From having a product launch and building a website, I wasn’t just ready to run to a bank again to ask for money. In most bank’s eyes, a few thousand isn’t enough for them to say yes, we can loan that to you. From the beginning, I realized that banks want all the limbs that are in your household, and if you have an animal, they want theirs too. To this day, I still apply for grants but, you need to be careful those as well because some kept a carrot on a string in front of me; even the rabbit gave up and bought its carrot. As the years change, so does MG Studio. The greatness that MG Studio began to give to my clients and others, I realized MG Studio needs to go to the next level. I can’t keep this just in my chair. Other hairstylists need to know about this. To go to the next level, I need MG Studio to step its game up.
I did this by pushing harder locally and digitally. I slowly began to give MG Studio a facelift and began to create more for other concerns that I knew my products would benefit. What I didn’t realize was that while I had my nose to the ground, I looked up, and others were wanting more of what I was producing. As excited and grateful as I was, I knew it was time to step it up for real. Looking into my piggy bank, it wasn’t oinking anymore, and my river began to run dry to invest for reinvesting in MG Studio. I began to look into bank loans again, and yes, I was still filling applications out for grants. While even getting denied to everything because I am too small or because they feel I am asking for too much, I found crowdfunding. Now don’t get me wrong, I honestly thought crowdfunding was for people who were seriously ill, need help with a burial, or down on your luck and needed assistance with bills that they weren’t prepared for. I was way off.
I learned crowdfunding was not just for personal help, but it actually for small business, entrepreneur help. For a year, I studied crowdfunding. Seeing there are a lot out there, it was great to learn about each crowdfunding platform. They’re not all the same. They all have specific crowdfunding ventures. Crowdfunding is for small business owners who are either in need of help getting their business started or like myself need an extra hand to push you to the next level. Going to a lot of business events, classes, and programs, small business owners shared how crowdfunding helped them. After much research, I chose to crowdfund. Crowdfunding is nowhere near easy.
You’re just not giving your pitch, posting pictures, and having your hand out. I mean, you can if you want, but if you do that, you have a better chance of hitting the Mega Ball. Entrepreneurs who have crowdfunded in the past and crowdfunding platforms will tell you need at least a few weeks to a month to prepare before launching your campaign. It took me two months to make. Choosing what platform to use to know what your business needs are. I knew I needed a facelift; I knew I created new formulas for new products. I knew my mission was to reach other salon owners who wanted healthier products in their salon for their clients.
Most importantly, I knew the impact that our products could make. All of what I knew about MG Studio is bigger than little old me, and I needed help. Crowdfunding is a perfect blessing. To know some people are willing to give a hand for a purpose that was given to you as your responsibility is more than a benefit, but a critical strength for your mission.