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The Network Effect & The Power of Local Cohorts

The seven iFundWomen Seattle pitching entrepreneurs (from left to right): Laura Clise, Founder,  Intentionalist ; Alex Pinkerton & Megan Pakula, Co-Founders,  The Armourie ; Hannah Schnabel, Founder,  Belle Ampleur ; Megan Febuary, Founder,  For Women Who Roar ; Genevieve Livingston & Marimar White-Espin, Co-Founders,  Eco Collective ; Sarah Haggard, Founder,  Tribute ; Dr. Cheryl Ingram, Founder,  Diverse City LLC .

The seven iFundWomen Seattle pitching entrepreneurs (from left to right): Laura Clise, Founder, Intentionalist; Alex Pinkerton & Megan Pakula, Co-Founders, The Armourie; Hannah Schnabel, Founder, Belle Ampleur; Megan Febuary, Founder, For Women Who Roar; Genevieve Livingston & Marimar White-Espin, Co-Founders, Eco Collective; Sarah Haggard, Founder, Tribute; Dr. Cheryl Ingram, Founder, Diverse City LLC.

We always say that iFundWomen is so much more than crowdfunding, and what's just as true is that the success of entrepreneurs on our platform and within our community is about so much more than the funds they raise.  

Success on iFundWomen is about your willingness to step outside of your comfort zone, put your product/service out there, and touch down on every single person within your network, no connection left untapped.

The truth is there is nothing more powerful than the network effect, which is technically defined as when your product or service increases in value the more people engage with it. This is the gift of rewards-based crowdfunding - It is a marketing tactic that is best utilized by exposing your product/service to as many people as possible in your network (and your networks’ networks). The resulting feedback that you garner from the network effect through crowdfunding is invaluable. Most importantly, it saves you tons of time, and as we all know, time is money.

Glossary Term_The Network Effect.png

This all boils down to the fact that rewards-based crowdfunding is THE opportunity that early-stage entrepreneurs need to take advantage of in order to take their businesses to the next level, and at iFundWomen, we provide access to the tools & resources that you need to harness that network effect and propel your vision forward.

Equally as important is the community and support you are able to surround yourself with while riding that emotional crowdfunding rollercoaster.  Yes, getting that raw, unadulterated feedback from your network and customers is imperative, but it certainly isn’t easy to manage. You need to be surrounded by people in the hustle with you who you can collaborate, commiserate, and celebrate with along the way.

Trust us, we know. We’ve launched nine local cohorts across the country with the intention of bringing our crowdfunding platform and coaching tools to female entrepreneurs in these different cities. Through these activations, we were able to partner with local governments & organizations passionate about supporting the female economy in order to spread the word about iFundWomen allowing us to leverage the network effect and provide amazing opportunities for female founders in each city.

This has never been proven more true than at the iFundWomen Seattle Pitch Competition, just weeks ago.

Happenings at the  iFundWomen Seattle  Pitch Competition on June 4th, 2019.

Happenings at the iFundWomen Seattle Pitch Competition on June 4th, 2019.

This event was the culmination of a year-long partnership with the Seattle-founded co-working space built by women, for everyone, The Riveter.  On June 4th, 2019, seven qualifying, Seattle-based female entrepreneurs, who had successfully reached their crowdfunding goals through iFundWomen Seattle, came together to participate in a celebratory pitch competition with the opportunity to raise even more cash for their businesses.

The work that these founders did to thoroughly map out their networks is what helped them cross the crowdfunding finish line, but it was the network effect of pure energy that filled the room that night.  These seven pitchers packed the house at The Riveter, Capitol Hill with their people...and then their people brought people. Just like that, by presenting in the room that night, each pitcher had her product/service exposed to an entirely new audience. That’s a win right there.

After hearing seven tight pitches from women-led businesses that ranged from a workplace mentorship app to an online guide to intentional spending to a bold solution for women planning bachelorette parties (no more you-know-what straws!), two iFundWomen Seattle entrepreneurs were proudly announced as the winners of the evening and awarded with $5,000 checks, thanks to our event sponsors at SYSTANE®, the #1 doctor recommended brand of artificial tears.

The Judges, iFundWomen team and the winners of the iFundWomen Seattle Pitch Competition: Dr. Cheryl Ingram, Founder & CEO,  Diverse City LLC  & Sarah Haggard, Founder & CEO,  Tribute .

The Judges, iFundWomen team and the winners of the iFundWomen Seattle Pitch Competition: Dr. Cheryl Ingram, Founder & CEO, Diverse City LLC & Sarah Haggard, Founder & CEO, Tribute.

The networks that these founders each cultivated through their crowdfunding campaigns were so clearly present at The Riveter that night, and the momentum these seven entrepreneurs capitalized on before, during, and after the pitch event will inevitably have a positive impact on their businesses moving forward.  

Talk about a lasting (network) effect….



How This Yogi Prepared For Her Crowdfunding Campaign

It's all about prep, prep and more prep.  Brooklyn native, Jennifer Coulombe was loud and proud about her upcoming crowdfunding campaign on iFundWomen long before it launched.

I consistently posted on my personal Facebook page for a few months leading up to my campaign, essentially getting people really ready and excited for our campaign!

Jennifer is the founder and CEO of Sat Nam babe, a socially conscious line of play and yoga clothes for kids under five and babies. She set out to raise money on iFundWomen to support her first round of production for her product.

When prepping for her campaign, she knew it wasn't just about when you tell people, but also who exactly you tell.

Make sure your friends and family are ready to support you when you do launch. Tell your company’s story as events unfold so people feel inspired and committed to wanting to support you.

Now, looking back on her successfully funded campaign, Jen realizes that there are certain things she didn't see coming no matter how much preparation she did beforehand.  The crowdfunding campaign road is long and, for Jen, she had to work extra hard to compensate for "the trough" she experienced along the way.

The trough was rough to get through, i.e. trying to keep up that momentum for weeks at a time. I found offering quick 48-hour blitz ‘campaigns within a campaign’ opportunities to raffle off product worked great.
Sat Nam Babe Trough iFundWomen

Jennifer understood that in order for Sat Nam babe to meet it's goal, she needed a crowdfunding platform that offered dedicated coaching and shared her appreciation for thoughtful preparation before launching a campaign.  She did her due diligence and chose iFundWomen as the right crowdfunding platform for her.

As I was doing my research, I thought iFundWomen really stood out from the crowd. I liked the fact that they were much smaller than Kickstarter, so I felt that I would have a greater chance at visibility by being able to live on their homepage for the duration of our campaign. I also liked the individual coaching they offered. So many good reasons to go with iFW!

Thank you to Jen Coulombe for paying it forward! Check out Sat Nam Babe on iFundWomen and now on Etsy.