August 2016 - MyeFunder

Let us go back to the Crowdfunding Basics

August 31, 2016August 31, 2016 CustomerHelp Leave a comment

What does Crowdfunding mean?

Let us get our concepts clear as we go back to crowdfunding basics. Crowdfunding. The word is quite self explanatory. It means raising funds with the contributions of the masses. It is just like any other fund raising method. Though, it is used majorly online.

How does Crowdfunding work?

To understand the crowdfunding basics, we need to know its working.

Crowdfunding is done through various websites. It works like the other fundraising spectrum. But here, the crowdfunding websites work as an online mediator. They connect entrepreneurs to the public or the masses. It is driven by different motives like charity or rewards. And people donate or invest some amount of money.

Types of Crowdfunding

Crowdfunding is categorized into three types namely:

Donation Based Crowdfunding
Reward Based Crowdfunding
Equity Crowdfunding

Donation based crowdfunding

According to the crowdfunding basics, crowdfunding can even be donation based. When an organisation is working for a noble cause, they tend to rely upon donation based crowdfunding. Here, the masses donate some amount of money. While they don’t expect anything in return.

Reward Based Crowdfunding

Some crowdfunding projects provide rewards to the investors. Crowdfunding basics term it as reward based crowdfunding. Here, the business owners send some rewards to their investors. The amount of investments determine the rewards. They can be a sample product, or a voucher. An e-mail subscription or a small amount of shares.

Equity Crowdfunding

Equity crowdfunding, in a broad sense can be considered an actual investments. According to crowdfunding basics, it is the one which reaps profits in the future. In equity crowdfunding, people invest on ideas or projects. In return, they receive a share in the company. Equity crowdfunding is the most profitable of all. Though, the investor might even end up losing everything. Since, there is an equal chance of the failure of the idea. However, it is not so widely popular. As the legislation is quite unstable at the moment.

Pros of Crowdfunding

#Easy Fund raising

According to crowdfunding basics, it is the simplest of the fund raising techniques. As it is easier than bank loans or individual investments. Therefore, an individual can save a lot of time and effort.

#Prior Customer Base

During the crowdfunding process, your product or service finds some popularity. You get a preset customer base. As people have already attached with your product.

#The Rewards are with you!

As you get to choose the rewards for your investors, crowdfunding becomes a simpler job. Though, you have to be reasonable with them. But there are no fixed rules which you need to abide by.

Cons of Crowdfunding

#Doesn’t work for large capital!

Crowdfunding basics clarify the fact that crowdfunding cannot raise large capital amount. Though, they can raise a lot of fund, complex and large projects cannot be handled by crowdfunding.

#Incorporates inflexibility in the project

Once released, your project cannot be changed drastically. As you are answerable to your investors, you lose the flexibility.

#Chances of repute damage!

Though, you can raise good amounts from it, you lose your reputation if the project doesn’t fair nice. You might end up losing it all.

Detailed Guide to Crowdfunding for Schools

August 28, 2016August 28, 2016 CustomerHelp Leave a comment

As we all know, education in today’s world costs money, a lot of money. So, to save a student from getting broke before even getting a job someone has come up with the idea of crowdfunding for schools. As the name suggest crowdfunding for schools is a way to fund the school fee and other fees with the help of the general public. Crowdfunding for schools is a unique way in which students are helped out of sheer joy and respect without getting anything in return except happiness.

Crowdfunding for schools seems like begging to some of the students but it is not. Every human being owes the planet. And to leave this planet in the hands of better human beings every child should be educated and taught properly. This is where crowd funding for schools comes in the picture. Crowdfunding for schools helps many children in the world by raising money for their trips, books and tuition fee.

How does crowdfunding for schools work?

The first step for crowdfunding for schools is to set up a donation page for the student. Interested people are then asked to donate money in favor of the student. So that he could do what he is not able to do. Crowdfunding for schools is a very transparent process. And all the money raised and used can be seen on the page itself.

Crowdfunding for schools program is totally safe for the student. As all the money raised is looked upon so that it’s not used wrongly. Also, the progress of the student is shown on the page. So that people could donate even more when the need arises. Since the student does not have to sell or create anything as in the case of general crowdfunding, the student is able to keep almost 90% of the money.

How is crowdfunding for schools beneficial?

Many students throughout the world have been able to complete their education with the help of crowdfunding for schools program. If it wasn’t for crowd funding for schools they’d be still uneducated and probably living a very miserable life.

This program has been a boon to the students who are from very poor family. Through crowdfunding for school, some of the students have started donation pages for schools and colleges. In order to give back to the society that has made them what they are.

Some students are stuck with loans after completing their education and spend the rest of their time returning the money to bank and paying the interest but with the help of crowd funding for schools students are not only being able to stay away from the banks but also focus more on the job at hand, that is their studies and perform better than the others.

So Crowdfunding for schools is in a way second guardians for the students as they are able to get a good education through it. Although not launched in many countries crowdfunding for schools program is expanding at a very high rate and could soon reach to the poor countries and help the unprivileged students soon.

Crowdfunding for Teachers – Power to Education

August 27, 2016August 27, 2016 CustomerHelp Leave a comment

Crowdfunding has spilled upon almost all the professions. It is helping them raise money without having to pay back. The ease at which crowdfunding works has caught the eye of many teachers as well. Crowdfunding for teachers is a fairly new idea compared to that of startups. Crowd funding for teachers does not actually raise money for the teachers. Instead, it raises money for their students. Teachers use the platform of Crowdfunding for teachers to raise money for their unprivileged students. Crowd funding for teachers is a boon in today’s society.

How does crowdfunding for teachers actually work?

Crowdfunding for teachers works the same way as all the other crowdfunding do. The concerned teacher has to go to a crowdfunding website and raise the money needed for their students. As we know there are many poor and unprivileged student out there in the world with no or very less money for a proper education. This is where crowd funding for teachers comes into effect. Although there are many government education institutes that teach students for free. But those institutes do not provide all the books and devices needed for a proper education.

The first process for crowdfunding for teachers is to go to a crowdfunding website. There all the details and the amount needed are filled in and submitted for the people to see. Different targets are set in order to get the idea of how much money could be raised. Crowdfunding for teachers helps the students on behalf of their teachers so crowd funding for teachers is basically crowdfunding for students but it is managed by their teachers.

The second step involves buying the needed product for students after the money is raised and submitting all the details about how and when the money is used on the website created for thecrowdfunding for teachers. This way the people who have helped to raise the money could get the idea of how their hard earned money is being spent.

Why is crowdfunding for teachers necessary?

To make everything available to the students crowdfunding for teachers is needed. Take for instance a scenario in which students are given Chromebooks to use for their study. But since playing a video in a classroom on each and every student’s laptop would make the whole class very noisy, students can’t do that. Students hence need headphones to watch the video properly. But that is not provided by the school. So, in this case, crowd funding for teachers is needed. The teacher, in this case, could go to a crowdfunding website and raise money for the students to buy headphones.

Crowdfunding for teachers plays a very vital role in today’s society where money is needed for almost everything. If it is left to the students and their parents they won’t be able to educate their kids properly and this is where crowdfunding for teachers comes in as an angel of hope for the children. Today many students around the world are getting their education with the help of their teachers and building a greater future thanks to crowdfunding for teachers. Crowdfunding for teachers can prove to be really effective in the development of any country.

Crowdfunding Hacks – Succeed like never before

August 26, 2016August 26, 2016 CustomerHelp Leave a comment

Crowdfunding has become a powerful tool for raising funds for almost any product or project. With the rise in its popularity, it is becoming more and more difficult to get crowdfunded. Everyone is searching for the ways to devise the perfect plan for the campaign. And most of them are looking for some kind of crowdfunding hacks which can make a campaign effective.

Without some good crowdfunding hacks, the campaign might not be able to go anywhere fast. These crowdfunding hacks are important to come up with a plan for the campaign. These crowdfunding hacks also act as a step-by-step guide to the whole process. It makes the work easy for an individual.

What are some of the crowdfunding hacks?

There are many crowdfunding hacks which can help any campaign reach the intended goal if they are followed efficiently.

#Keep your people happy

The most important one out of these crowd funding hacks is that one should always keep their investors happy. It is really necessary to keep the contributors in the loop and show gratitude towards them time-to-time. This will ensure that they become a loyal audience for the campaign. And they can eventually help in marketing and publicize the campaign further.

#Find your inspiration!

Another important crowdfunding hacks will be to look for inspiration from other successful campaigns. There is a lot which an individual can learn just by analyzing the positive and negative points of some other crowdfunding campaigns. To make these crowdfunding hacks more effective, an individual can even have a conversation with a successful crowdfunder. He can gain insights about the various struggles related to crowdfunding.

#Work on your connections.

Another great one from the several crowdfunding hacks is trying to make a personalized connection with the investors. Providing some details about the company and the staff can help the investors to relate with the campaign. One of the most important crowd funding hacks is to make proper use of the social media sites. Making a list of all the sites which can most effectively promote and market the campaign is one of the very important crowd funding hacks.

#Its time for some Rewards!

Another crowdfunding hacks that many experts advocate are offering some kind of reward or gift in return for the investment made by the contributors. According to the experts, these crowdfunding hacks can attract many investors towards a campaign as several people get attracted towards something offering exclusive rewards or gifts.

#Basics: Right Platform, Right Audience

Choosing the right platform carefully and targeting the right audience is also one of the important crowdfunding hacks. The choice of the right platform gives the required visibility to the campaign and selection of the right crowd helps to make it more popular without much hard work.

Even though crowdfunding offers various perks, but it doesn’t come without any risks. Every campaign that is up for crowdfunding is different from one another. There is no sure shot way to replicate the success story of another campaign. With these crowd funding hacks, an individual can prepare a plan to create a good campaign, but an entrepreneur needs to be ready for any type of failure. It is important to stay alert and flexible during the campaign and give all the time and hard work to it.

Crowdfunding Mortgage – Fulfilling every dream

August 23, 2016August 23, 2016 CustomerHelp Leave a comment

Crowdfunding has seen many changes in the past few years with more and more individuals turning towards crowdfunding to raise funds for various things. Crowdfunding has found its application in several fields and the newest addition to this list is crowdfunding mortgage.

Yes, there is now a way to opt for crowd funding mortgage. Crowdfunding mortgage seems a better alternative to taking a loan from a bank to buy a house. It also helps to avoid all the hassles faced because of these traditional methods. Crowdfunding mortgage has seen a huge rise in the last few years. As many people are opting for crowd funding mortgage to purchase a house.

Is crowdfunding mortgage beneficial?

There are many areas where people are opting for crowdfunding. From people trying to crowdfund their businesses to their wedding, almost everything can be crowdfunded nowadays. In the light of all these, crowdfunding mortgage doesn’t seem to be a bad idea. Helping individuals in purchasing their home through crowdfunding mortgage can prove to the best gift that anyone can give. Although, crowd funding mortgage seems like an intriguing idea, it also has some of the drawbacks.

The hardest thing to do while going for crowd funding mortgage is to convince the crowd about why the people should give money to buy a house. It is very essential to make them see that crowd funding mortgage is not a bad idea. And one should have a really good backstory to support their crowd funding mortgage campaign.

Crowdfunding mortgage can only work if the crowd feels that there is a need to go for crowdfunding. And the campaign is not just an attempt to avoid the hassles of taking a loan from the bank. There is another thing to think about while going for crowdfunding mortgage. Most of the crowdfunding platforms are not free. They charge some amount of the money raised by the campaign. It is important to analyze the goal to be reached by the crowdfunding mortgage campaign carefully. And even take into account the fees of the crowdfunding platforms.

Investing in crowdfunding mortgage is not like crowdfunding other things. While opting for equity-based crowdfunding, an investor gets some tax relief, but this is not the case in crowd funding mortgage. Investing in a crowd funding mortgage campaign is not going to get the investors a relief in the tax payment. Crowdfunding mortgage is more like gifting some money to someone to help them purchase a house.

Although, opting for crowdfunding while purchasing a house is growing popularity day-by-day, but even today many people still like to take the traditional way to get the funds for buying a house. Taking loans from banks is still more popular than crowdfunding, but in the future, even this sector of crowdfunding seems to rise.

Even though, crowdfunding mortgage might pose some problems and seem complicated, it can also prove to be very beneficial if it is done right. Proper planning and marketing can help an individual to raise the funds for buying a house and save them from the hassles of taking a loan.

What are Crowdfunding Legal Issues?

August 22, 2016August 22, 2016 CustomerHelp Leave a comment

There has been a lot of changes in the way funds are being raised for launching a business or startups. One of the best innovation in this field has been crowdfunding. Crowdfunding basically allows an entrepreneur to get funds from peers through online platforms for a project or business plan. There have also been many changes in the way crowdfunding is being done. With the enactment of the JOBS Act in 2012, there are many crowdfunding legal issues which surround the way money is being raised online.

After the SEC approval of the JOBS Act, there have been some major crowdfunding legal issues. It has brought some important changes for people trying to launch their business through crowdfunding. These crowdfunding legal issues mostly affect the equity-based crowdfunding. With the advent of these crowd funding legal issues, even small investors will now be able to invest in big companies.

What are some of the crowdfunding legal issues?

After the rules of the JOBS Act was released, there have been many questions about what will be new the crowd funding legal issues. How will these crowdfunding legal issues affect the entrepreneurs? Will these be helpful in launching new businesses or startups? If the new rules are analyzed carefully, one can find all the answers.

#Facilitating the investment by the non-accredited investors

The first change which the JOBS Act brought in the crowd funding legal issues is: Facilitating the investment by the non-accredited investors. Before this, only the individuals with an income of $200,000 annually, called the accredited investors were allowed to invest in equity crowdfunding. This change brought in the crowdfunding legal issues gives more opportunities to the people to invest in startups.

#Raising the Amount

Other crowdfunding legal issues which were addressed in the JOBS Act were: Raising the amount a company can raise to $5 Million from $1 million. Despite many people hoping for this new change, SEC did not approve this raise. Another change in the crowdfunding legal issues is that the need for a financial audit has been dropped. And now the companies can use reviewed financials to raise money.

#Security of Investments

Crowdfunding legal issues dealing with the security of these investments have also changed. The company is supposed to disclose all the costs before going for crowdfunding. And also the goal which needs to be raised and the time required to reach it.

#Disclosing Financial status and Tax relief

The company is also required to disclose the financial status of the company to the SEC. These new crowdfunding legal issues also offer a relief in the tax. This in turn increase the investments in the businesses and startups.

Equity crowdfunding has seen most of the changes in the legal issues. And it doesn’t affect the legal issues of the other types of crowdfunding. The usability of these new laws and rules can only be determined in the future but for now, these changes have at least created opportunities for new companies and startups to raise funds.

Crowdfunding Journalists – Voice of People

August 21, 2016August 21, 2016 CustomerHelp Leave a comment

Crowdfunding is not a new idea anymore. With the advancement in technology, crowdfunding has become in reach of everyone. Journalists, however, did not have the luck of every other profession. And it was very difficult to raise funds unlike teachers, students or startups. This changed with the introduction of crowd funding journalists. Crowdfunding journalists are the idea of raising money for the journalists to carry out their respective journalism.

How do Crowdfunding Journalists help journalism?

Journalism is a very costly profession to begin with. To add to that, the cost of different devices and machines. Therefore, journalists have to shell out big sums of money to carry out journalism. By Crowdfunding journalists it is ensured that all the burden of news and other information is not imposed upon the journalists.

Crowdfunding journalists is a fairly easy process. And one csn get the money in a small period of time.

Tips for Crowdfunding Journalists

#Find the right website

For Crowd funding Journalists, one has to go to a proper site which raises funds for journalism. An extensive research should be done before selecting a site. A Crowdfunding journalist’s site should be chosen based on the personal style of journalism.

#Be clear about the funds!

Next, the person should post the required funds and the plans for using those funds. Crowdfunding journalists are Successful only if the journalists are totally transparent to their financial backers.People go for Crowd funding journalists only if they think that the said journalist is credible and could be trusted with their money.

#You need to be transparent!

To avail the money for Crowdfunding journalists a person should be very transparent about the kind of journalism he/she is going to carry out. And later stick to the commitment made.

#Set your targets.

The third step for Crowdfunding journalists involves setting the targets for raising money. If the crowdfunding is able to meet all those targets then it is thought to be successful. If not then alternatives should be worked upon.

It is REALLY Popular

Crowdfunding Journalists is a fairly new idea. And as other new ideas, it also needs some time to make people get used to it. However, the rate at which crowd funding journalists is moving is very convincing. It has grown four-fold in the past 3 years.

It seems as though the people who raise money have nothing to get from this. But it is not true. The people who raise money get the free access to any work that the journalist does and also to many other journalists linked to that specific website.

Crowdfunding journalists are here to stay and make lives of journalists a little less dangerous financially as well as emotionally. There are no visible downsides of Crowdfunding journalists, however, some people don’t like the ideas of raising money for another profession.

Crowdfunding journalists are the next step in making journalism free from the hands of the wealthy few. If journalism can’t be availed by the less financially fortunate then the whole point of journalism will be shadowed by the opinions of the wealthy people and that in any sense is not journalism at all. So it can be said that the idea of crowdfunding journalists is a boon for journalism as a whole.

What is Crowdfunding Marketing?

August 20, 2016August 20, 2016 CustomerHelp Leave a comment

Starting a new business or startup is not an easy task. There are many problems which need to be tackled. The most basic one of these is to get the funding. It is quite difficult for a new business or project to get funds from traditional sources. Hence it becomes necessary to think out of the box.

Crowdfunding has emerged as the new and alternative way of getting funds for a business or startup. This method is getting popular day by day. With increasing popularity, the competition to get crowdfunded is getting fierce. A campaign needs to be interesting as well as unique to pique the interest of the investors.

Along with being interesting, it should also be able to reach a wider audience and have high visibility. This is where a crowdfunding marketing strategy comes into the picture. In order to let the campaign visible to a larger crowd, it becomes necessary to come up with a good crowd funding marketing plan.

This crowdfunding marketing plan can help to publicize the campaign and make sure that it become a success. There are various things to consider while coming up with a good crowd funding marketing strategy, but it is necessary to do a great deal of research about it.

How are the crowdfunding marketing strategies beneficial?

Crowdfunding marketing strategies can prove to be very beneficial for a campaign. Since it is the primary key for the success of a project. If an individual comes up with an idea, it is necessary to share it with the world to get it funded. Crowdfunding marketing strategies help an individual in publicizing their idea.This ensures that more people invest in your project.

Various crowdfunding marketing strategies can help to publicize the campaign. But an individual needs to start working on these crowd funding marketing strategies even before the launch of the campaign.

The most basic crowdfunding marketing strategy is to make sure that a loyal audience is already constructed. This loyal audience can be the network of friends, family, acquaintances, etc. who will be the first investors of the campaign. The next crowd funding marketing strategy is to set up a crowdfunding campaign.

A good crowdfunding marketing strategy is necessary. Since it ensures to make the campaign interesting enough to attract a lot of investors. It can be done by offering unique rewards or Gifts, showing promotional video, sharing updates about the project, etc.

After the launch of the campaign, the next important crowd funding marketing strategy is to publicize the campaign through various social media platforms and engage the audience. The best crowdfunding marketing strategy is to publicize it on sites like Facebook, Twitter, LinkedIn, etc. Blogging and emailing an outreach list are also good crowd funding marketing strategies.

Another important crowdfunding marketing strategy is to monitor the status of the campaign. This would make sure that the campaign is reaching its goal. Although, these crowdfunding marketing strategy may be time-consuming and require a lot of work, but they can prove to be very beneficial for any business or startups.

Different Crowdfunding Questions

August 19, 2016August 19, 2016 CustomerHelp Leave a comment

After the enactment of the JOBS Act, crowdfunding has gained popularity all over the world. Many people are now turning towards crowdfunding for funding their projects or startups. With many people opting for crowdfunding, the competition has been on a rise. It becomes very important to make the crowdfunding campaign interesting for the investors as well as increase its visibility. There are many crowdfunding questions that individuals get confused about before starting the campaign.

It is necessary to get proper answers to all the crowdfunding questions before the start of the campaign. The answer to these crowd funding questions can ensure that the campaign is planned efficiently and properly.

What are the most common crowdfunding questions?

Entrepreneurs across the globe have several crowdfunding questions before starting their campaign. The most common topics to which these crowd funding questions are related to are about:

The crowdfunding platform.
Type of crowdfunding.
It’s marketing, etc.

#What type of crowdfunding do I need?

First of all, we need to know about the type of crowdfunding to opt for, for the campaign. It is advisable to analyze the project or business plan carefully. And then choose the type which suits it best. Each type of crowdfunding caters the need of specific business type. And then choose the type which suits your business the best.

#What is the best crowdfunding platform for my business?

The next important crowdfunding questions are, the selection of crowdfunding platform. These crowdfunding platforms are the sites on which an individual makes the campaign and which further helps to make it interesting and makes sure that it reaches a wider audience. Hence, choosing the crowdfunding platform becomes important in order to reach the investors.

#What goal needs to be raised through the campaign?

The next question is to find the goal which needs to be raised through the campaign. It is necessary to think thoroughly about this crowd funding questions and choose a goal which is neither too low nor too large for the project.

#How can the campaign be made interesting?

The next among the many crowdfunding questions is how to make the campaign interesting for the investors. Creating a campaign which shares the details about the project, photos, videos, etc. can help to attract a lot of investors. Posting regular updates on the progress of the project also help to keep the investors in the loop.

#Should the campaign be linked to something tangible?

One crowdfunding questions which most of the individuals ask is that is it necessary to link the campaign with something tangible. The answer is, it is not at all necessary. But giving some rewards or gifts in return for the money invested by the contributors can attract more and more people towards the campaign.

#How to do the marketing of the campaign?

The next important query out of these crowdfunding questions is how to do the marketing of the campaign. It is necessary to publicize the campaign as much as possible.

Devoting time to the campaign can help to make it a success. It is also possible that different individuals can have different crowdfunding questions related to their campaign. There are many websites available which focus primarily on helping entrepreneurs find the answers to their crowdfunding questions.While looking for all the crowdfunding questions, it is necessary to think thoroughly about the answers.

Crowdfunding Jobs – Employment for all

August 18, 2016August 18, 2016 CustomerHelp Leave a comment

Crowdfunding is an ever expanding bubble of opportunities. It has found a new place in the hearts of job seekers. Crowdfunding jobs are the new genre of jobs which are as the name suggests, crowdfunded. These jobs are paid for by the people who raise money for the person doing the job.

Understanding Crowdfunding Jobs

A job needs basically two parties, a person doing the job and the other paying for it. In the case of crowdfunding jobs both of these conditions are met. Therefore, it is not an unstable system. In crowd funding jobs, the salary amount to be paid is raised by the online community through crowd funding jobs’ website.

How to go about crowdfunding jobs?

The first step for crowd funding jobs is to find a suitable and well-trusted website. The person is then required to select the job profile which best suits his talent. Crowdfunding jobs are spread across all the professions from engineer to doctor and from plumber to the electrician. Thus, it should be fairly easy for a person to select the jobs which suit them the best. The next step in crowd funding jobs is to fill out all the details regarding the person’s experiences and the qualifications.

Websites for crowdfunding Jobs

There are many websites which work as a platform for crowdfunding jobs and freelancing. The person just needs to post his jobs profile on the website and get hired by the different people online. People go online to that website and could hire a suitable job seeking person and then pay the money online. The money could be paid by a single person or a group of persons. Crowdfunding jobs have opened up many doors for the qualified people who couldn’t get a job due to some reasons.

Crowdfunding jobs are currently available in developed countries but is expected to reach the other parts of the world soon. Many people who were unemployed earlier are now able to get a well-paying job due to crowdfunding jobs. It also helps the people who hire them in many ways. Like for instance, they don’t have to open an office to hire professionals, as it can be done on a computer from home.

Payments and Transactions for crowdfunding.

All the payments and other transactions are done over the internet as well so it saves a lot of time in the process. Crowdfunding jobs have truly changed the employment market for the better. It is now just a matter of hours when a person could get a job online whereas it took days if not months earlier to land a decent job. This is all possible due to the platform of crowdfunding jobs.

The time is not far when people won’t have to walk miles holding their resumes in hand under the hot sun to get a job. Crowdfunding jobs have made people realize that if they have enough talent and qualification they could choose their own job and not the other way around.

The impact of crowdfunding jobs will be even more positive when it is introduced in the developing countries where there are many talented people who are currently unemployed and have to do a job which is below their talent and interest.