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What is Crowdfunding
What is Crowdfunding
A simple concept which has turned the financial world upside down is crowdfunding. The basic idea is that a number of individuals together, using the internet and put together finances to support a particular cause, project or a business organization. Although the idea seems ordinary, the end result is nothing short of a revolution. But if you are someone who is setting up a new crowdfunding campaign, the common question is what comes next in the process. You need to draw up a strategy to make your campaign well known. Here are a few tips regarding that.
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Give them a story:
It’s not enough to let your donors know for what you need the funding. Give them a detailed story of everything behind the cause. You can consider having the story told in a blog so it can reach out to people who don’t visit your site. Pictures and videos posted along with them prove to be very effective.
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Extend your social media outreach:
Create accounts in various social networks in the name of your campaign. Ask your organization members and its supporters to share your fundraising campaign through their pages. Create online events through your page (for example, help baby Mary raise fund for her operation).
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Giving incentives:
If you are running a crowdfunding campaign as a college student raising money for college expenses, showing your gratitude for their generous donation is a must. It does not have to be an expensive gift. Even a gift basket, self-made card, or a thank you email would suffice. The donors will find it motivating. Also, posting a picture of your latest grades or transcripts to show that people’s hard earned money is going to the right place and not just being blown away.
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Engage with donors in real life:
You can pour in all your efforts on the internet trying to raise funds. But nothing works better than interacting with the donors personally. Don’t forget that your family, friends and neighbors are the very first potential donors to your cause or project. Family gatherings, small backyard parties, inviting your colleagues over for a get together are very good ideas.
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Press coverage is a must:
Although social networks are a huge deal, getting press coverage is necessary. You can get articles published in university and local newspapers. This will have a major impact drawing crowds from the student community.
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Quantitative deadline strategy:
This involves setting up a deadline for the goal (example: $100 away from our $3000 goal and only 5 days to go)
http://myefunder.com is the #1 crowdfunding site and has huge community support and gives crystal and clear idea on crowd funding. Please follow, like and share us and our content on all social media.
Choosing the Right Crowdfunding Site
Choosing the Right Crowdfunding Site
Are you planning to start a crowdfunding campaign to raise money for your cause, upcoming project or convert your concept into a real product? It can be a difficult and sometimes very frustrating to chose the right crowdfunding website because not all crowdfunding websites are created equally. Some of these websites are categorized as “general” where you can raise money for any type of project including asking for donations like you can do on MyEFunder, Indiegog, RocketHub and StartsSomeGood etc. Where there are many websites which are limited to specific types of projects like Appbackr which is designed to raise money for software application design projects etc. So how do you decide which crowdfunding website would be best for you and help you raise the maximum funds.
The following are different ways to choose the right crowdfunding website. This will not just increase your chances to make your campaign successful it will also give the most effective results, for example fan following, product promotion and less fee, to name a few.
Know your project or cause:
The first thing before you start searching a crowdfunding website, you need to know about your project or cause. Is it a local based project or you want to raise money from all part of the world? What type of people would get benefits from it? What is your target market? This will help you to decide the type of crowdfunding website would be best for you.
Know crowdfunding websites
Search engines like Google, Bing and Yahoo will list of many crowdfunding websites. Visiting all of these sites and learning their terms and condition, their process to pay out funds and how to start campaign can take lot of time but this step is necessary and important. If not, you may end up choosing the wrong crowdfunding platform for your project or cause, which might be the most popular site but not the best place for your crowdfunding campaign. It is a very time consuming process to evaluate each and every crowdfunding website but well worth it. To make it easy for you, we have listed the following basic information about some of the top crowdfunding websites:
- MyEFunder.com: Personal causes and any project including both creative and non-creative, equity crowdfunding, micro peer-to-peer lending, and real estate crowdsourcing. Both US and International Crowdfunding. MyEFunder is free to sign up, free to start a campaign and does not charge a fee for it’s services. In addition to being very user friendly and easy to promote and maintain.
- Kickstarter: Only for creative projects and you must be based in Unites States.
- Indiegogo: You can start any type of project here including charity and donation.
- RocketHub: Open to all projects but new ideas are most appreciated.
- StartSomeGood: Website for international users which is opened for any kind of project.
- Lucky Ant: Open to all hyper-local projects; must be locally based.
- Appbackr: Only software and application related projects accepted.
- Wefunder: If you are looking for equity funds, then Wefunder is ideal for you.
- NewJelly: A special crowdfunding website to promote artists around the world
- Cofolio: Looking funds for small business? Cofolio help to raise money for small business.
- Peerbackers: A crowdfunding site for entrepreneurs “and their dreams”.
Explore crowdfunding website:
Once you know about the different websites, the next step is to rank them on the bases of their features, options, fee and business model structure etc. Explore similar projects and what types of projects got the most funding on these websites. You may have your own criteria to rank each of these website. You will also find blogs and commentary about the sites out there that can provide you with some guidance and insight.
Fundraising for Charity
Important facts to consider while fundraising for charity
If you are looking for various ideas that can help you in raising money for charity, this article has some interesting things to offer. It can be your guide, helping you to set up various charity events that are very effective in raising funds.
A Few things to keep in mind
It is important to have certain people in the organization that can successfully run the events planned. Since you will be handling different events, assess them to find their best skills. Leadership qualities, a good attitude and creative mindset are the deal makers. After the evaluation, you have these people put in charge of various sections; you can look into more details. Place someone who is trustworthy to take care of financial accounts. Every donation made to the charity at an event must be recorded. Doing campaign in crowd funding sites will give better result http://myefunder.com is one of the effective site for crowd funding.
When you interact with people for funds, always be thankful and gracious. With economic run down in recent times, many people will restrain on giving money to charity organizations. So, it is important to be outgoing and polite with the potential donors. It will pave you a short route to get on their good sides.
Effective ideas
It does not matter if you are raising money for charity or to fund your business. Using unique ideas for fundraising is important. You can arrange a brunch party in the community with many athletic events for the kids. The events could charge a small pay and at the same you that opportunity to encourage large sum of donations.
Hold a charity concert in the locality. There are several musicians willing to take part in events in order to raise money. Organize games like bingo for a huge group of people. Usually middle aged people are very interested in such events. You can offer small payments for winners that can be easily covered using admittance fee. A rummage is sale something many people look forward. And everyone will have those few things they want to get rid of. Use those donated items to sell in the event.
A new revolution
So, you have burnt out all those charity event ideas. There is no need to fret. Crowdfunding sites on the internet provide assistance to raise money. Find the right website for your need and post your pleas. Of course it takes a lot of hard work and perseverance to convince people to contribute fund for your purposes.
Who Loves Crowdfunding?
Who Loves Crowdfunding? What do you use it most for?
Top Crowdfunding Platforms for Projects
What are the Top Crowdfunding Platforms for Projects?
In short, they are all good. It just depends what you are looking for and what you are trying to get funded.
How exactly does crowdfunding help to carry out projects?
Are you one of those people who had an excellent idea for a new business, but had to give up on it because of financial problems? Funding for projects is the most crucial step. ‘To make money, you need to have money’ is the ubiquitous belief in the business enterprise. But there is good news for you, in case you are worried about where to find investments. Crowd funding platforms through the internet have become the unanimous solutions to small business owners everywhere now.
Here is what you need to know first. They are platforms to fund your business. There are many such portals out in the world today. For instance, kickstarter is one such successful portal that has stood by many small ventures, carving their way to great accomplishments. Crowd sourcing is a way to get money, but not without hard work and persistent passion. Even if it takes a long time and many attempts to finally complete the project, you should have the perseverance to do it. Ultimately, it’s your hard work, confidence and strong belief that will drive the whole venture.
How it works?
You must be familiar with the idea of passing the plate around in a church gathering. The concept of crowdfunding is the same. Many other people who believe in your idea come together and pool out their resources for this cause. Sometimes, the result of these generous donations can be staggering, amounting to over hundreds of thousands dollars even when the aim had been just in the tens of thousands. However, it’s unfortunate that a few projects not at all get funded. They are the best examples as to what changes hard work can bring in.
If you think that putting up your project on a famous crowdfunding website amongst so many out there like indiegogo and http://myefunder.com, will automatically drive people to invest in it, you are hugely mistaken. You will have to drive the search traffic of the site to your project. You require creative crowd funding ideas. So, you need to sit down and draw a complete plan of your activities. Make use of various social networks to spread the word about your project. You can tag pictures, videos and surveys explaining why the project is bound to be a success. Concentrate on different angles of the project which will draw interest. So, go crowd sourcing and make yourself a success story.
What Are Angel Investors?
How to get the best out of your angel investors
When someone has a fresh new idea, and they want to set up a company based on the concept, the first and the foremost thing they need is investment. It really is a tough job trying to find those angel investors who are willing to put down money because of their faith and trust in you. So, if you are one of these entrepreneurs, scheduled for a meeting with a potential investor, there are many things to bear in mind despite the best presentation you have prepared.
Things to bear in mind before the meeting
Know this for a fact. Your angel investors already know most things about you. It becomes your responsibility to change that most into everything. It could take up a positive or a negative path. It all depends on you. It is necessary to have a plan drafted as to where you want to be in the next five years. This shows how firm you are about the success rate of your business. In case the investor was introduced through family or friends, make sure to have a casual meeting at gatherings or parties before the business meeting in order to make a good first impression.
Things to bear in mind during the meeting
You should give him or her clear understanding of what kind of a person you are and about your goal and visions of the company. It is all about presenting the concept effectively. Practice at home in front of your family or friends and ask for an honest feedback. Be prepared for any questions from the investor. If he/she agrees to invest in your company, prepare a letter of intent. But, if it is someone introduced through family/friend, a verbal agreement should suffice.
Other funding sources
So, the investor does not have to be a single individual. One of the best ways in the recent times to find investments is through crowd sourcing. Crowd funding is not only effective to find investors, but it is how generous people pool out their resources for relief during disasters and other such noble causes. It offers a platform for start up business that seeks to learn from the experiences of others and also avail funds by networking through the community. There are many crowdfunding Netherlands sites on the internet that help you gauge customer reactions about various products or services your company is providing, http://myefunder.com is one of the best and reliable sites to find investors.
