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How to Raise Capital from the Crowd with Devin Thorpe

Devin Thorpe is a champion of social good who empowers social entrepreneurs, diverse founders and community builders to raise capital from the crowd.

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Guest Resources

Crowdfunding Made Simple – Free eBook – Crowdfunding Made Simple: A Step-by-Step Guide to Raising Capital Using AI Tools.

Super Powers for Good – Check out Devin’s website.

Crowd Funding for Social Good – Get a copy of Devin’s book in Amazon.

3 Value Bombs

1) Success can be driven by genuine impact and doing good in the world and they can go hand in hand and not inherently in conflict.

2) AI is a key part of the solution to make raising capital from the crowd easier.

3) Patient capital investors call themselves Impact investors who are interested in supporting a good business with social impact.

Sponsors

ThriveTime Show: Become the next success story, schedule a free consultation and request tickets to join Football Star, Tim Tebow & President Trump’s Son, Eric Trump at Clay Clark’s next business conference today at: ThrivetimeShow.com/eofire!

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Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: How to Raise Capital from the Crowd.

[1:24] – Devin shares something that he believes about becoming successful that most people disagree with.

  • A lot of people disagree with the premise that profit and social impact of doing good in the world can go together. Success can be driven by genuine impact and doing good in the world and they can go hand in hand and not inherently in conflict.

[2:10] –  Devin talks about why believes that raising capital from the crowd is an option for every entrepreneur.

  •  Not everybody can qualify for a bank loan and most entrepreneurs are not eligible for  venture capital or don’t fit the model. But, everyone has a network that will support them and they can raise money from the crowd, although not everyone can raise enough money from the crowd.
  • Its not a perfect fit for everyone but everyone can raise something. Every entrepreneur should at least explore the option and determine if it makes sense in the end.

[3:00] – Devin gives his advice to make the process a little more achievable because raising capital from the crowd is challenging.

  • It is hardwork but some of the things that make it easier these day is AI tools. More people are building sophisticated tools for the regulated investment crowd funding market place.
  • AI is a key part of the solution to make this easier.

[4:07] – Devin gives an example of this.

  • As an investor, he used this for doing due diligence on crowd funding offerings.
  • It can also complete for you the Form C.

[5:08] – Devin tells more about those who fail, fail by neglect.

  • Many people start the crowd funding with the misunderstanding that all they have to do is put up a page. Putting up a page is the easy part, getting your crowd to support and get your products or to invest in your business is the hard part.
  • When people think they will get the paycheck and someone else will promote it and help them raise the money, they fail. But those who work hard generally reach their goals.
  • JLD talks about the flywheel effect.

[7:29] – A timeout to thank our sponsors!

[10:40] – Devin talks about the stories and strategies of serious entrepreneurs that raise $5 million every year with some have raised over $100 million and how to achieve this success.

  • There are two companies, Boxabl that makes foldable homes. Its social impact is making affordable homes because many can’t afford a home.
  • The other company is Aptera, a San Diego based company that makes solar powered,  3-wheel electric vehicle that is enclosed like a car. It is super energy efficient than any vehicle on the road.
  • Social impact is really a helpful thing to raise money from the crowd. You can expand the audienceby being able to connect on the point of doing good.

[13:03] – Devin talks about his phrase ”patient capital is available.”

  • This is especially for entrepreneurs who are building something for social impact. There is an opportunity to attract capital from people who are not expecting a lot of return, like a 10-fold amount of return in 3-5 years. Just a more modest, more deliberate and more predictable return structure for the investor.
  • There are investors looking for right opportunities that connects and resonates with them in a meaningful way.
  • Patient capital investors call themselves Impact investors who are interested in supporting a good business with social impact.

[15:32] – Devin talks about why investment portfolio of impact crowd funding investments works.

  • He is an investor of Aptera. Small companies excites him and he hopes it will be a multibillion dollar company one day, making and selling lots of EV.
  • He also invested in a little bakery run by a woman who is legally blind and hires only people with disability and she sells only vegan food. The revenue is small but he loves her mission and what she is doing and he is thrilled to support her.
  • You can build a portfolio that doesn’t easily matches the return of the stock market but has so much more impact in doing good in the world.

[17:02] – Devin gives his key take away.

  • Everyone can invest no matter how much money you have and how much you earn and everyone can raise some money from the crowd. Many can raise enough to matter.

[18:04] – Call to action.

[18:08] – Thank you to our Sponsor!

  • ThriveTime Show: Become the next success story, schedule a free consultation and request tickets to join Football Star, Tim Tebow & President Trump’s Son, Eric Trump at Clay Clark’s next business conference today at: ThrivetimeShow.com/eofire!

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!

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