Crowdfunding platforms are online portals which facilitate the feasibility of any crowdfunding event. These websites allow petty investors to fund large projects. In this manner these website play a vital role in the success journey of crowdfunding projects as well as investors. Crowdfunding platforms are basically centred on the aspects of crowdfunding projects, their each and every move is identified to be an outcome of the requirements of crowdfunding projects and investors. Talking about facts and figures, Kickstarter is known for raising money for over 35000 projects and around 20000 classroom projects. Crowdfunding projects has gained much momentum and popularity in recent years but the main challenge lies in completing the project. Most of the projects reach the completion but are not able to do so.
Basics of crowdfunding projects:
Crowdfunding projects could simply be understood as a branch of famous fund collection process: crowdfunding. It is a call of funding from the public by showcasing your project over a crowdfunding website. The showcasing is done in a manner so that the page could attract more and more investors for crowd funding projects. There can also be offline methods to go for crowd funding projects but it observed that crowd funding projects going on online crowdfunding platforms are more likely to be successful.
Setting goals and achieving them
For crowdfunding projects, setting goals is an important thing to do. Fixing a fundraising goal has its own advantage. It not only gives the people attached to the crowd funding projects a visible goal to work for but also instils them with new zeal and enthusiasm to work for it. They find new ways to make the crowdfunding projects a success by spreading them to more and more public view. However, there are two kinds of goals involved in crowdfunding projects: Individual Goals and Team goals. It is further noticed that while completing these in crowd funding projects, people with individual goals perform much better. The reason behind this s human psychology.
Choice of crowdfunding projects by donors
Donors are the most important part of crowd funding projects. They have to be lured in a manner in which they feel themselves as an important part of the projects. Also the idea of crowd funding projects should be such that it might impact a major portion of the masses. The people around must be able to visualize the positivity that would come to their lives after the project is complete. Emotional manipulation is also a major agent in attaching the public to crowd funding projects.
Both the project creators and donors are an essential part of crowd funding projects. The donor, however must be treated above the creator as they are the ones who make crowdfunding projects feasible with their funds flowing in it. Crowdfunding projects is the demand of today’s age and time. It is treated as more viable and feasible options above other kinds of funding sources for projects. This notion is more opted by people who have lesser connections in the finance market and still dream of their own venture.
