First off, what's a Wefunder Profile?
Your Wefunder profile should concisely and accurately summarize your company’s investment opportunity. It’s the page you share with your community and supporters. Oftentimes, it's the first thing potential investors on Wefunder will see about your company. Because it’s a reflection of your investment opportunity, it’s important to accurately and fairly represent your company. Technically, the profile is the “Business Plan” portion of your Form C.
This guide explains all the sections of a Wefunder profile (which we’ll simply call a profile from now on).
To edit your profile, click your picture on the top right and click "Edit Profile" under your company.
Contents of the Profile Editor
Basics
Design
Press & Quotes
Story & Numbers
Team
Interview
Misc
Basics
- This is the most important portion of your profile. -
Imagine you're in a bookstore. A book’s title and cover catch your eye. Before you even think of taking out your wallet, you flip it over to read the summary.
The Basics of your Wefunder profile is the back of that book.
This is where you need to convince investors your story is worth exploring. Keep flipping through those pages—or in this case, keep scrolling! But that's easier said than done, so let's take it step by step.
1. Tagline
Describe your business in 80 characters. Investors should understand what you are and what you're doing. Also, (we're guilty of this) avoid using trite comparisons such as "Uber for plants" or "Uber for calendars." Trust us, you’re not the first one to think of it and investors get tired of listening to the same pitch repeatedly.
Example: Seven Stills: Craft beer, re-imagined as whiskey.
2. What does your company do right now?
In 500 characters or less, explain what your business does in simple, straightforward language. Eliminate buzzwords like "revolutionize" and "disrupt." Be specific about the problem you’re solving and how you’re solving it.
Test your writing by reading it out loud. Make sure you’re using language you’d actually use in a conversation.
Example: Lawn Love is a network of the best lawn care companies combined under one consumer-facing brand. Our platform gives customers instant, accurate quotes online without an on-site visit, and routing efficiencies help companies make more money while customers pay the same. Payment and scheduling are automated, and customers can manage everything from their phones.
Example: Freight Farms manufactures fully-operational hydroponic farms from upcycled freight containers. Using advanced growing technologies and human-centered design principles, we provide individuals of all skill levels with the infrastructure to immediately begin producing a high-volume of locally grown food.
Stuck? Answer these questions:
- What do you do?
- How many paying customers do you have?
- What are some of your recent accomplishments?
- How do you plan to use the funds raised?
3. What is your ambition?
This is 500 characters digging into the "so what" of your business. You're answering three main questions for investors: why is it a big deal, why should I care, and what is your vision? Also take this chance to lay the groundwork of the industry you’re in—investors coming onto this page might know nothing about it.
Example: Chronos. "Watch companies know they need to make their products smart, but lack the expertise to do so. The largest US watch manufacturers are already exploring partnerships with Chronos in advance of their big launch this coming spring. By leveraging the design expertise and distribution of major watch brands, Chronos has a chance to power more wearables than any other consumer brand in the market."
4. Major Impressive Facts
Impressive year on year revenue growth? Name-brand customers? Kept 95% of customers over the last year? Built the world's smallest violin? Excite investors with your businesses' proudest numbers and most revealing accomplishments.
In particular, investors want to see how you've grown. Including your rate of growth goes a long way (i.e. Write “3x revenue growth from 2018 to 2019. On track for $3M this year.” instead of simply “$3M revenue this year).
These are essentially bullet points. Keep them punchy. This is not the place for paragraphs. Why? These bullet points are pulled for automatic marketing copy and your company’s “card” photo (see Design section below).
Example: Seven Stills
5. Attachments
Got a pitch deck or a business plan? Attach longer documents for investors who want more details about your pitch. A solid pitch deck that hits the right points with the right visuals is much more effective (and fun) than a business plan.
Finished the basics?
Good, now write them again.
Clearly explaining the problem you're solving and how you're solving it is tough. We recommend going over your Basics several times, continuously pruning all the unnecessary words. After all, for “What We Do” and “Our Ambition” you have a limit of 500 characters.
Investors are busy. If you can't capture their attention with compelling information in a short period of time, they'll just move to the next company vying for a chunk of their wallet.
When you think you're done with the Basics, ask yourself: if I were an investor, would I keep reading?
Design
- Make it pretty, please -
Investors browse Wefunder with two main motives 1) to find something that speaks to them personally and 2) to find the next big thing. And the one way to determine whether your business speaks to either of those criteria is to show off what you’re working on.
We’ll go through the three main elements of imagery you’ll be using on Wefunder: the Header Photo, the Media Video/Photo, and the Card.
1. Header
Header images should be both compelling and revealing. They should not scream stock photo.
In terms of dimensions, use an image that is 2500 pixels wide and 900 pixels tall so it's not blurry. Note that there will be white text overlayed this image on the left-hand side that says “Invest in COMPANY NAME”. Choose images that are in darker colors that don’t have any text.
Example: Cloud DX
The Cloud DX header has negative space on the left side which is ideal for text and showcases the product on the right.
2. Media Video/Photo
This section is really two parts: a photo in 16x9 aspect ratio (required: this image is pulled into our automatic marketing emails) and a video (optional) that showcases your investment opportunity. Videos don’t have to be highly produced – in fact, investors tell us their favorite videos are ones that show the founder just being themselves. Here are two options: Crooked City Cider and Doughp.
3. Card
Your Card is the first thing investors will see when they’re browsing through Wefunder’s Explore page. The card photo will determine whether any investor decides to view your business at all. There are three elements that determine the success of your card: image, tagline, and milestones. You can choose the image here (it’s a square and we recommend 600x600 to make sure it’s high quality). The tagline and milestones are pulled from the Basics tab (milestones are your first three “most impressive facts”.)
You want to give investors a broad idea of the product you’re providing. Showcase the product. Avoid: text or logos.
Examples: Element Farms
Press & Quotes
- Get a Buzz Going -
Who's talking about you and what are they saying? Investors want to know if a) your business is credible enough to garner media attention and b) how you deal with being in the limelight. The Press and Quotes tab is your opportunity to showcase what people love about what you're doing.
1. Linking Press
All you have to do is copy and paste the article link. You can then edit the press snippet by mousing over the box and clicking “Edit.” For the image, use the source's logo. That way, investors can easily recognize media outlets at a glance. The aspect ratio is 2x1.
2. Adding Quotes
You can either input a quote you already have, or request one. You'll need the person's name, title (are they a loyal customer or an elite investor?) and of course the quote itself. Keep quotes to 1 to 3 sentences long and link websites whenever you can to prove credibility.
You should strive to have the first quote be from an investor in your company which adds some social proof for potential investors. If you don’t have any previous investors, then ask your advisors and brand-name customers. This is not the place for quotes from people in the company.
What's the Big Deal?
Press and testimonials are critical. The key to a successful business is having a product that people love and press and quotes are how you prove to investors you're doing just that.
Story & Numbers
This is the place to showcase your investment opportunity in a little more detail. Think of these two sections as a mini pitch deck. “Add Another Section” lets you choose from a handful of image and text templates.
This is the meat of your profile. You need to convince investors you can execute quickly and effectively. Show off growth, revenue, customer retention, etc.—investors want concrete evidence.
Be wary of making this section too long as our data shows that investors fall off the page the longer these two combined sections are.
Some good rules of thumb:
- Keep blocks of text to 5 lines or less.
- For writing, follow the old adage “Show, not tell.” Keep it concise.
- Select a few choice photos rather than dropping a bunch on the page (which also makes load times long).
- Write like a human. Avoid industry-specific jargon. If your 13-year-old kid wouldn’t understand it, then rewrite it.
- Use high-quality images only. Blurry images irritate people.
- Most people will skim the profile. Make it easy for them to understand what’s going on by utilizing headers. An investor should be able to get an idea of your offering by only reading the headers.
A Sample Profile Layout:
1) State the problem and indicate its scope.
2) Show how your product is the best answer to this big problem.
3) Convey your rapid growth. Graphs are best. In order of preference, the most persuasive graphs are: a) revenue growth b) customer growth c) users/products sold.
4) How do you make money?
5) How you intend to grow -- investors like to know how their money will be used! This is also the section to wrap them into your grand plans to become a $1B company.
Interview
- The Devil's in the Details -
If you've managed to get a potential investor to read this far into the profile, congratulations! You've passed the highest hurdle.
But you're not home free quite yet.
The Q&A dives deeper into the heart and mechanics of your business, giving investors a peek into your motives, reasoning, and long-term plans. It's not an exaggeration to say the Interview can make-or-break an investment.
1. Ask (and answer) the Right Questions
In the Interview tab you'll find our recommended questions, which you should definitely answer. But you'll need to anticipate questions investors may have, not only about your business, but about the market you're tackling.
For instance, if you own a café in Seattle, investors want to know what does success look like for you in particular? What are your greatest obstacles in opening up a second brick-and-mortar location? What's unique about running a coffee shop in Seattle rather than New York City?
2. Keep it Brief
The Interview will definitely be longer than anything else you'll write for the profile, but no one wants to confront a wall of text. Continue to hit key points in as few words as possible without sacrificing valuable information.
You're Not a 'Used-Car' Salesman
Investors know there are risks and challenges. Don’t cherry-pick your questions to glamorize your business. Good founders and owners know there are holes and address those holes. Ask and answer the hardest questions.
If done well, you will have anticipated and clarified potential questions and proved just how strong a hold you have of the market you're charging into.
Team
- Let's See the People Behind the Magic -
Anyone can have a good idea. True power lies in having the people that can turn that idea into reality. Investors want to know if your team has what it takes to go from idea to product to domination. Convince investors that if there’s anyone who’s going to achieve what you plan on doing, it’s your team and no one else. All team bios have a limit of 100 characters.
1. Sell Yourself
Remember the last time you interviewed for a job, the last time you were the one in the hotseat. Take that experience and shrink it down to the ‘Founder’ portion of your profile.
Your photo should show off who you are, balancing professionalism with the personality of your business. Your bio should be the most important parts of your resume shrunk into two sentences or less.
2. Inviting Team Members and Investors
First step is to invite team members and investors, which you can do under the 'Team' tab. When you invite a member, Wefunder will send them an email to sign up and confirm their role.
You then have a choice to add their info yourself or let them take care of it. Regardless of which option you choose, all members should have a photo and brief description of what they do at your business.
3. The Importance of Previous Investors
Before investors choose to commit themselves to your startup, they'll want to know who else is coming to the party. And like a party, you want investors to know all the cool kids are coming. Reveal any prominent previous investors and new investors will feel safer about handing you their money.
4. Sharing Your Story
Graduating from elite schools or success in previous ventures is important information, but the big winner is always a good story. If you have a unique tale behind your startup, shout it from the rooftops—or just right here on your profile. Investors have mad respect for Founders (and so do we!) who hustle and do whatever it takes to get their business going.
Team Who Gives a Damn
Investors should leave the 'Team' portion with more information than a resumé. Sure, they want to know your qualifications, but they also want to know your drive. Let investors peer into heart of your business, and assure them that not only are you skilled, you're damn well passionate.
Misc
- A few final thoughts -
Customer Wefunder URL: Your business will automatically be assigned a url, but if you wish to change it you may do so here. We recommend keeping your url short. This helps when sharing the url on Twitter due to the character limit.
Tags: Group yourself with other businesses in your category and make yourself more discoverable.
Privacy: If you want to pick-and-choose who views your profile, you can make your profile private. Only those with the url will be able to view your business.
Google Analytics: Input your Google Analytics ID to keep tracking of how many hits and visitors your Wefunder profile is getting.
Ad Tracking Pixels: Input Ad Tracking pixels to measure the effectiveness of any ads and see where your profile visitors are coming from.
Annnddd...Done!
You've finished your profile! Good work 👍
You're just about ready to start raising money, but before you do, remember to review your profile several times. Check for clear, concise language and full-proof your profile by having everyone from your employees to your mom check it over. When you think you're ready, it's time to publish!