Everyone can agree that money is necessary for the commencement and growth of a business venture. Previously, official pitches in front of investors with the aim of being granted copious amounts of money was the fundraiser of choice, however, new startups and businesses are turning more to crowdfunding as a means to raise the money necessary.
Crowdfunding is gathering smaller amounts of money from a large number of people as opposed to the more antiquated method of raising money through larger donations from fewer people.
With the business market starting to favor crowdfunding techniques, the ability to successfully persuade a large group of people to donate to your venture is crucial. New studies and research are discovering that women are about 32% more successful at crowdfunding, according to Fortune, than men are. So why is that?
In contrast to a traditional pitch in front of an investor, crowdfunding somewhat levels the playing field between women and men because it eliminates some of the visual bias that innately comes from and in person pitch. Persuading large amounts of people is often more successful when the call to action is molded as a story with an emotional pull and inclusive language. Women have a tendency to be better at writing in this way and telling more persuasive stories to compel their audience to give.
In addition to this talent to persuade through emotional appeal, women are also more likely to support other women than men are to support other men. With that being said, women are often times financially supported by other women on the sole basis of their gender.
This need and desire to build such a strong community and network of enterprising women are why Walker’s Legacy is committed to connecting and empowering professional multicultural women in business. Learn more about which platforms that you can use to crowdfund your business or venture here.