Tag: crowdfunding

Crowdfunding

Crowdfunding – The need of the hour for Entrepreneurs

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With more and more alternative ideas for financing projects, entrepreneurship is scaling new heights. Crowdfunding is one such alternative scheme for raising funds for indigenous projects, in fact it is termed as one of the best available option in the market. This article gives a brief introduction to the concept of crowdfunding followed by why crowdfunding should be a preferred way to finance projects?

Crowdfunding – A Quick Introduction

Crowdfunding- as evident from its name,means funds from a crowd or a group of people. These people fund the projects in some trade-off. This Trade-off classifies crowdfunding in to two kinds: Rewards based crowd funding and Equity based crowdfunding.

A Rewards based crowd funding is the one in which the funder enjoys the products and services of the company in return for the funds offered.

An Equity based crowd funding is the one in which the investors gets shares of the company in return to the invested sum of money.

The terms and conditions could be well settled by the parties in any way they find best suited. It could be either of the two categories or a mix of both.

Crowdfunding – A wise option for funding

The idea of crowdfunding is simple but the complex part is to propagate the idea of the start-up amongst the lot of potential funders. The latter is facilitated by mediators known by the name of crowd funding platforms. Working through these platforms for crowd funding,the project could be one of the wisest decisions in the course and following points will elaborate the idea.

  1. Funding projects made easy: A budding entrepreneur might be well aware of the tedious processes followed and conditions applied when dealing with bank loans. In crowdfunding through platforms, there are very minimal processes involved and that too in a paperless, time saving manner.
  2. A self-introspection tool: A crowd funding idea implemented vide platforms provide popularity index of the idea implemented in the start-up and gives a vague picture of its future performance. Owing to the performance of the project in gathering support over the platform it can be reshaped.
  3. Lower are the risks involved: The kind of response over a crowd funding platform can be deemed as market survey and hence, can be considered as an indicator of risks involved with project. This helps to prepare better, well before the launch.
  4. Worldwide Success: Since there is a vast propagation of idea through a crowd funding platform, a lot of people get connected to it as they become a part by funding the project. The success of the project thus becomes a success for many.

This articles definitely clears some air about the roundabouts of crowdfunding thereby giving a deeper insight to the concept and its more than one functionality.

crowd source funding

Mistakes during charity fundraising through crowd source funding

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Charity can done by anyone at any time and by any means. Crowd source funding can be just another way to raise funds for charity. A crowd source funding can raise funds for the cause in a manner comparable to no other means.

Requisites of charity fundraising

Motivation is the basis of all fundraising whether personal cause or other. Until and unless the fundraiser is excited about the cause, he could not gather funds by any means including crowd source funding.Another requisite for crowd source funding for charity is an event idea; some of the ideas might be Angel hug, Treasure hunt, Talking puppets, Block Party, Darts Tournament, Collection Boxes, Hiking, Musical Recital, Xmas Ball etc. Entry fees on these crowd source funding events are the main source of funds collected.

Common mistakes while crowd source funding

Mistakes are always unwanted, be it any field. An error in the field of crowd source funding takes you away from your targeted monetary goal of fundraising charity. Hence it is very important to know about the most common blunders which might be preventing you from reaching your target.

  1. Uneven use of potential: An underutilised potential of the people involved in organising the crowd source funding event is the biggest threat to a successful charity fundraising. On a general note a charity event organising group is a small one; hence the members should stretch their efforts up to end limits in terms of both time and skills. This also leads to easy functioning of the group without overburdening a particular member or staff, thereby creating a relaxed atmosphere resulting in ample productivity.
  2. The portfolio missing organisation: Like any other organisation it is of utmost importance to create your portfolio. A genuine, to the point portfolio is a necessary element for crowd source funding It gives the supporters of the cause a lasting impression of your charity fundraising, thereby increasing inputs.
  3. Catching only the big fish:Definitely there should be a dedicated person for the funds collection from the high profile donors, but the whole organisation running after them is a fool’s behaviour. The target audience for a modest charity organisation would be of course a modest one. Smaller donations on huge scale lead to a vast range of supporters. However, if the charity organisation is itself a high profile one , then high profile donation are sure to flow in,
  4. Impersonal behaviour: Giving a personal touch to the crowd source funding activity can do wonders for your fundraiser. The personal touch should also reflect in your way of asking for funds from the crowd. Note that they are more likely to donate if they take you as a friend in need.
  5. Improper planning: ‘There is nothing like on the spot performance’, this is a fact. Whether partial or whole, some planning is must for any occasion. For crowd source funding events, beforehand planning and preparation are a must; otherwise you would end up making a mockery of yourself and of the cause at the venue. To stick to the plan it is important to jolt down the plan points and distribute copies of it to the members of the organisation.
What is Crowdfunding

What is Crowdfunding

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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.

  • 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.

  • 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).

  • 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.

  • 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.

  • 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.

  • 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.

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Choosing the Right Crowdfunding Site

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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.

Top Crowdfunding Platforms for Projects

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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?

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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.

Raising Money for Charity from Crowdfunding

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How to raise money for charity through online sites


Long gone are the times when blogging, articles and banners were simply used as marketing tools to earn money. They now form a sturdy platform for crowd source funding. They can be put to the use of noble causes like raising money for charities. Since the internet is something millions of people has access to, you can raise a large amount of money in a short period for a particular cause. So, if you are planning to set up one of these online fundraising sites, here are some pointers on how to run a successful charity site.

Effective tips for charity blogging sites

The basic rule for websites which are dedicated to raising money for charity is maintaining a good relationship with bloggers and other main streamers on the internet. Their opinion about you is most important. They need to trust you and have faith in your motto, because any kind of news spreads like a virus online. These main bloggers and writers will act the part of carriers. So, try to make them understand your goals and the charitable causes you are affiliated with. If they believe and respect your work, you might wake up the next morning to your website trending on the search engine with all the traffic generated by those popular blogs that you never knew existed until now.

Many creative ideas can be used to draw the focus of people to crowd funding sites. For instance, making videos of the charitable cause which you are promoting is a good idea. You can post these videos on the website and share the link of the video with popular bloggers and writers. Before making videos, cause should be always motivating. People who have donated before will continue to do and the newcomers will be impressed with the changes their money is making. You can soon expect the news to travel through various social media portals like wild fire.

Another interesting concept would be to hold auctions on your website. Raising money for charity just by convincing people can be tricky. When times are hard, you can opt for auctioning various items which were also donated by generous people. Jewelry, clothes, hard to find novels, classic furniture’s, sports gears, every item that was given away in an act of donation. You can create accounts in the website’s name and as the administrator, personally engage in interactions with the donors, even can find the website like http://myefunder.com to get bunch of investors.

Type of Crowdfunding Platform to Choose

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Type of Crowdfunding Platform to Choose

In the 21st century, crowdfunding platforms are becoming more and more popular among businesses, entrepreneurs and professionals. Crowdfunding is regarded as a viable alternative to conventional loans and borrowings and it is opted for by many startups and new businesses. This is a type of online fundraising which can help you gather funds quickly, and without a lot of hassles. However, it is important for you to choose the right crowdfunding platform, and the following tips will assist you in finding the best one for your needs.

Check the user traffic

Find out whether or not the crowdfunding platform enjoys high user traffic from search engines and referrals. Check the reviews and various sites that inform about the traffic count of such platforms. You will need a platform that is visited by lots of people, so that your marketing pitch is able to grab lots of eyeballs. Crowd funding sites that have high traffic are generally more successful, for obvious reasons.

Check the acceptance of projects

You should also check whether the crowd funding sites you are going for accepts the type of project that you would like to raise money for. Not all crowdfunding websites allow every type of project, and the least that you can make sure is whether the platform you are signing up with accepts your kind of project. A lot about online fundraising is choosing the right type of platform.

Check the success rate

It is also important for you to check the rate of success that is enjoyed by the platform. Evaluate the total number of campaigns on the crowdfunding websites that you pick. Sites like IndieGoGo and Kick Starter have lots of campaigns – many of which are successful. These have flexible policies in financing projects.

Check the fees

Crowdfunding platforms are one of the best ways to raise money, but you should check the project fees. For successful projects, most platforms charge a specific fee. However, some platforms charge a higher fee for pitches that fail to make the cut. You should check the percentage of fees and decide which one you would wish to go for.

Crowdfunding is undoubtedly one of the best ways to raise money for startup businesses. However, the platform needs to be chosen carefully – as it is one of the most important factors that can decide the success of a marketing pitch. You need a platform that justifies the time, energy and effort that you invest into it.

Keyword: crowdfunding, crowdfunding platforms, crowdfunding websites, online fundraising, ways to raise money, crowd funding sites, crowdfunding platform

How to Make Your Online Fundraising Campaign Successful

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How to Make Your Online Fundraising Campaign Successful?

When you are short on funds, starting an online fundraising campaign is undoubtedly one of the best ways to try and gather the finances that you need. If you boast of a well-accomplished follower network, you will be able to use them to make your crowdfunding campaign grow and hopefully realize your monetary objectives once your marketing pitch is able to meet its deadline.

Grow your reach

You can hire partners to assist you in the creation of photos and videos for your crowd funding campaigns. In case your company is sponsored by some organizations, you can ask them to build a fundraising website for you that look professional. You can also get access to the supporter network of your sponsors, if you can make your sponsors add a personal appeal to your campaign.

Add a sense of urgency

On the fundraising website, you should also set a deadline for your campaign – and preferably keep it minimal. With an extended deadline, your potential backers may not feel the urgency to contribute and put off the donations for a later date – forgetting it all in the process or ending up spending on some things that they personally need. Try to keep the deadline for the campaign restricted to a week or slightly more to make your donors on online fundraising sites feel the need to contribute quickly.

Use varied channels and platforms

Do not rely only on online fundraising sites to do the trick for you. You should coordinate your crowdfunding sites with your own fundraising website as well as social media platforms such as LinkedIn, Twitter and Facebook. These platforms will help you communicate frequently with your audience and keep them hooked. These will help you to leverage support from your friends as well as other people whom you may not even be familiar with. Share the progress of your campaign with your followers, attract them with rewards, offer interesting information about your offerings etc.

Arrange easy donation facility

You have to make it easy for your crowd funding contributors to donate money for your project. You can use simple payment modules such as PayPal or Amazon Payment. No matter which module you utilize, remember to store the email ids and other important information of your contributors. This will help you to thank them for their donations and keep the information stored for using in online fundraising campaigns in future.

Keywords: Crowdfunding, crowd funding, online fundraising, fundraising website, online fundraising sites