Beira stands as a testament to Scottish craftsmanship, intertwining sustainability and luxury to birth beautiful, functional, and limited-edition luxury womenswear. Redefining fashion by ethically remanufacturing discarded luxury fabrics and trims, offering a unique blend of style and consciousness.
Beira ran a crowdfunding campaign in a dedicated effort to bolster the Scottish manufacturing industry and raised just over £3000 from 39 supporters through a strategic mix of both donations and rewards-based contributions.
Read what founder Antionette Fionda-Douglas says about her crowdfunding journey
Determining the rewards for our crowdfunding campaign was a strategic collaboration with manufacturing partners, with rewards meticulously aligned to our target market and sustainability principles. This process was about more than just offering rewards; it was a conscious decision to empower our supporters with products that embody our brand ethos and values.
Setting our fundraising goal was a purposeful decision rooted in our commitment to making a tangible impact. Our aim was clear: to establish an apprenticeship role at one of our manufacturing partners. The amount we aimed to raise was carefully calculated, factoring in all the costs associated with bringing this vision to life. A detailed breakdown of costs not only ensured a clear understanding for our backers but also reflected our dedication to responsible business practices.
We initially ran the campaign for a month but extended it by a week, which helped to alleviate any potential constraints on our supporters’ time and financial commitments during a busy festive shopping period. This flexibility and adaptability really helped to ensure maximum engagement.
Managing the crowdfunding campaign certainly took a lot of time – before, during, and after the campaign. Throughout the entire process, we dedicated the equivalent of about a day each week. However, this commitment was not just about clocking hours but was a purposeful investment in reaching out to our community, fostering connections, and crafting compelling content that resonated with our audience.
The entire crowdfunding journey was made much more manageable due to the support and guidance received from both peers and from Women’s Enterprise Scotland (WES). It was a collaborative partnership that extended beyond financial backing and this supportive environment not only helped navigate through the challenges but also served as a source of inspiration. A network of support really can transform obstacles into opportunities for growth and success!
Despite all the support though, it was still challenging, mostly due to the relentless nature of the process.
Balancing the dual responsibilities of continuously seeking financial support whilst managing the day-to-day operations of a business and overseeing a team presented quite a challenge.
A great success for us during the crowdfunding campaign was the synergy between fundraising efforts and brand visibility. The campaign served as a catalyst for generating significant positive publicity (PR), garnering attention and resonating with a broader audience. This heightened visibility not only attracted financial backers but also played a pivotal role in expanding our professional networks. The campaign became more than a financial pursuit; it became a strategic tool for elevating brand awareness and forging meaningful connections.
Reflecting on the crowdfunding campaign, one area that didn’t work as well was the organisational aspect, and in hindsight, I wish I had taken a more structured approach to the campaign. Involving our team more actively in the entire process might have alleviated some of the burdens and enhanced the collective learning experience.
And although we didn’t reach our stretch target, the crowdfunding journey offered invaluable non-monetary benefits both personally and for the company. Firstly, it proved to be a brilliant learning experience, providing insights into the dynamics of community engagement, effective communication, and strategic planning. This experiential knowledge has become an enduring asset, contributing to my professional growth.
Additionally, the campaign created a terrific buzz around our brand. The increased visibility not only attracted backers but also positioned the company as a focal point within the industry. This elevated brand presence has had lasting effects on market perception and credibility.
Moreover, the crowdfunding effort brought in a cohort of fabulous new customers. These individuals, drawn to our mission and products through the campaign, have become loyal supporters, contributing not only to our financial success but also fostering a sense of community around our brand.
Reflecting on our crowdfunding experience, I would like to offer three invaluable tips for those embarking on a similar journey:
- Time Management Realism:
Understand that the timeline for a successful crowdfunding campaign often exceeds initial expectations. Anticipate that it will take at least double the time you initially estimate. This realistic approach helps manage expectations and allows for a more flexible and adaptive strategy.
- Frontload Content Preparation:
Prioritise comprehensive content preparation upfront. In the dynamic world of crowdfunding, time is a precious commodity. Having a reservoir of well-prepared marketing content and updates at the outset allows for a seamless flow of communication. This foresight ensures that amidst the constant communication demands—calls, emails, and messages—you maintain an engaging and consistent campaign presence.
- Team Engagement is Crucial:
Acknowledge that the crowdfunding journey is not just a mountain for the leader but an Everest for the entire team. Actively involve your team in the process. Their engagement not only lightens the load but also brings diverse perspectives and skills to the table. A united and motivated team not only enhances the campaign’s effectiveness but also fosters a sense of shared accomplishment.
As a final note, I want to express my sincere gratitude to WES. Their support throughout the crowdfunding journey was truly exceptional and went beyond expectations. The guidance, resources, and encouragement provided by WES were instrumental in navigating the challenges and seizing opportunities.
Moreover, the networking aspect facilitated by WES added an extra layer of value to the entire experience. Building connections within a supportive community is not just a professional benefit but a source of inspiration and strength. The camaraderie fostered through networking has created lasting relationships that extend beyond the confines of the crowdfunding campaign.
In essence, the collaboration with WES was a pivotal element in the success of our campaign, and I would encourage fellow entrepreneurs to actively seek out such supportive organisations on your own journeys. Together, we can continue to uplift and empower one another in the dynamic world of business.
As women, the entrepreneurial journey is an uphill struggle; amplifying that struggle is the mountain of entrepreneurship. Be tenacious, don’t relent. Crowdfunding is that mountain, and if anyone can conquer it, it’s tenacious women entrepreneurs.
