Introduction To CrowdFunding
Crowdfund is the practice of raising funds from a large number of people who each contribute a relatively small amount, typically through the internet for an upcoming projects or ventures.
Everyone has a big thing that they know will change the world. These are the same people who think that their product or service is a good idea for a business. There are several ways to look at this thing, but nowadays, if you do not have the money, then it may not get beyond an idea.
The good news is that there is now a way to fund your idea. It is called crowdfunding. What it does is to crowdsource the funds required for your idea. You can start a campaign in any of the crowdfunding websites, and people who believe your idea can buy the product before you even make it. They pay for it up front, allowing you the time and the money to create the products which have already been ordered and paid for.
One of the most popular of the crowdfunding websites are Kickstarter and Indiegogo. Each of these has its own strengths and weaknesses. There are still a lot of other crowdfunding websites which have different approaches, methods and appeal to different audiences.
The secret to crowdfunding is not just to put the product or idea out there. First of all, it should be well thought out. Secondly, it should already have a working prototype, and better yet if you already have working products for sale.
However, the most important thing you must do before you go into crowdfunding is that you should already have followers. Count on less than one percent of those followers to buy your product. Only about 1 in 1,000 followers ever buy the product, either before or after the crowd funding campaign. Take a look at the infographic below for more ideas you should consider before crowdfunding.
Thanks a lot for reading my article about best-established ways to crowdfund your projects or ventures.
If anything else is missing from my side or if you have any new suggestion please let us know by commenting below. Also feel free to comment your opinions.
- How To CrowdFund Your Big Ideas – Easy Steps[INFOGRAPHIC] - January 18, 2017