Raking in $102,824 on Indiegogo in a campaign that ended July 3, the start-up Ambronite, maker of a drinkable organic "supermeal," achieved a goal that most crowdfunders would envy: It exceeded its $50,000 target by more than 100 percent.
"It was really exciting to see so many people around the world fund our product," said CEO Simo Suoheimo, one of five co-founders at the start-up, which has offices in San Francisco and in Helsinki, Finland, where the young entrepreneurs developed the natural food product in a business accelerator.
Most start-ups that try to raise money on crowdfunding sites are just as pumped about their start-ups as Ambronite's team. Unfortunately, many end up with a goose egg when it comes to money raised. On Kickstarter, 43 percent of campaigns hit their funding goal, and successful campaigns have collectively raised $1 billion. However, the other side of that equation is the 57 percent of campaigns that fall short of their funding goal or simply flop.
How do you make sure your crowdfunding campaign isn't a dud? Here are five mistakes to avoid.