Crowdfunding seems to be the new buzz word when it comes to fundraising a new business idea or business venture. Have you crossed paths with it yet? Chances are that someone you know has mentioned a friend or a colleague who is crowdfunding their latest venture and shared it for all to see. After all social media is a powerful tool and works well to spread the crowdfunding message.
Whether you are unfamiliar with the variety of crowdfunding websites available, have heard of it but never thought it could or would relate to you, or want to know a little bit more information before you commit to such an unorthodox approach, then take note. Crowdfunding websites are definitely here to stay and should be utilised as much as possible to your advantage regardless of your industry.
Specificity
Before you jump in headfirst you need to understand that while they can do great things in terms of fundraising for your latest project, they will only have a tendency to work best when raising funds for a specific event or project; something measurable or achievable rather than a general “I need money” type of event.
There are an abundance of crowdfunding websites out in the World Wide Web with new sites seemingly popping up every day. You may have heard some of these names being discussed: Pozible, Indiegogo, Kickstarter to name a few.
Create a Compelling Page
For your own purposes firstly you need to find a crowdfunding site that allows you to create a compelling and attractive page in order to maximise its fundraising efficiency. Secondly, you need to use your immediate contacts and social network sites to help spread the word about your newly created campaign. If you don’t talk about it and mention it at every opportunity then chances are your fundraising efforts might never get off the ground. Mention it once and it will be forgotten. Mention it more than once then chances are that someone will remember it and possibly share it with others if they find it worthwhile.
Crowdfunding sites mean that organisations need not rely so heavily on government grants or a bank loan – they are able to go out into their community and ask specifically for the help they need to get their project off the ground. And that can only be a good thing!
Have you given money towards a crowdfunding venture recently?
Michelle Tupy (www.michelletupy.com) is a content writer and copy writer who quite happily spends her time behind the scenes writing Facebook posts, blog posts and articles on behalf of busy managers as well as writing and publishing eBooks.
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Michelle Tupy, Content Writer at Freelance Writer
I have both given and received through crowdfunding but can definitely understand that it might not be to everyone's liking. We successfully raised money for a hostel-type venture and received enough to get the venture off the ground. Likewise a friend of mine raised over 750,000 to create the latest in his adventure game series. And I know of a couple of people who have managed to successfully publish books through this type of fundraising method as well.
Abigail Smith, Manager at Linens 'n Things
Crowdfunding is a great way to start your startup. I know that las vegas upcoming events started from crowdfunding. And now they are all right. So be brave to use networks and different platforms for searching. Kind regards!