Choosing the right raise amount is a balance of two factors - setting a number that is high enough to achieve your stated goals but low enough that you are confident that you can reach your target.
Most campaigns that fall short of their goal fail because they ask for too much. Fundable is an "all or nothing" funding platform, which means you need to meet or surpass your stated goal or you cannot collect any of your funds. Instead of trying to raise one round of capital to cover every conceivable cost, it's better to focus on just enough capital to reach your next major milestone.
Remember you can always raise more than your fundraising goal - but if you raise even a dollar less than your goal you will be unable to collect any contributions.
Setting the appropriate timeframe is about giving yourself enough time to build up your campaign. There are very few campaigns that can be successfully completed in 30 days. The average campaign lasts 60 - 90 days.
Startups tend to be eager to collect funds, which leads to short fundraise terms, but its important to give yourself enough time to build momentum around your campaign, a process which inherently takes a few months.
Fundraising takes a lot of effort. It's not about just posting a profile and waiting for the money to roll in. Your fundraising goal should take into account how big your network is, how much time you can put into marketing your deal, and how much people will be willing to contribute for each reward. Smaller, achievable goals, with plenty of time to execute are always your best bet.
Fundable is a software as a service funding platform. Fundable is not a registered broker-dealer and does not offer investment advice or advise on the raising of capital through securities offerings. Fundable does not recommend or otherwise suggest that any investor make an investment in a particular company, or that any company offer securities to a particular investor. Fundable takes no part in the negotiation or execution of transactions for the purchase or sale of securities, and at no time has possession of funds or securities. No securities transactions are executed or negotiated on or through the Fundable platform. Fundable receives no compensation in connection with the purchase or sale of securities.