Tag: crowdfunding websites

Crowdfunding websites

Fundraising projects through crowdfunding websites and Frequent Mistakes

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Fundraising for projects especially start-ups are going through crowdfunding websites to raise capital funds. However, data from significant crowdfunding websites like Myefunder and KickStarter reveal that a lesser percentage of the budding companies which apply for funds through these crowdfunding websites are able to reach their goal.

A start-up is dream of its owner, a flop show of the project on the crowdfunding websites might pierce the dream to its core. Hence, a campaign should be fool proof and well planned enough to get the project going.

Here, we glance through the most common mistakes which should be avoided when fundraising through crowdfunding websites.

Mistakes while raising funds through crowdfunding websites

  1. Being Slow and steady:

Slow and steady might be a good strategy to work but not good enough to reach the goal of a fundraiser on crowdfunding websites. The strategy should be such that more than a quarter of funds should be accumulated within the first three days. For this, it is important to increase the donor support on your project during the initial days. Hence, one should try to get contribution on crowdfunding websites from family, relatives, friends and acquaintances. This keeps your project trending and under the limelight attracting other donors.

  1. Assuming online world as a genie:

This notion, though developed amongst a lot, is a myth. Your project being online through the crowdfunding websites is not a potion for your project to work; you have to put ample efforts to get your project going. There has to be a spark in the project idea which connects it with the masses and deals with something that people would like to add to their real world.Also you have to be attentive while promoting your project to a particular community based on interest on the crowdfunding website.

  1. Not paying heed to asking:

Asking a donation for your project would never harm it in any manner. People spend a lot of time and mind over ways to advertise their project on crowdfunding website, but while doing so they forget one of the most basic aspects of fundraising which is asking for donation. However, on crowdfunding websites the donations are simply not collected using a virtual basket, but by explaining the need of your project to the society and surroundings.

  1. Thinking that the start is all :

No it is not so; it is important to keep track of all happenings of fundraising process through the crowdfunding website. This not only helps to check progress level of your goal amount but also lets you redefine your strategies to raise funds on crowdfunding website.

These are some mistakes to avoid while raising funds through crowdfunding websites, lest the online show of the project might be a flop in garnering funds.

Gofundme

Crowd funding and fundraising for a cause using Gofundme

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Crowd funding and fundraising for a cause has gathered hype over the recent years. Fundraising for a cause can be performed in more ways than one. But online platforms like Gofundme, have grown into prominence quite magnificently over the years. Fundraising for a cause is one of the most popular ideas amongst people with new ideas to garner funds in supporting a noble cause. Online platforms like Gofundme are very efficient in helping fundraisers gather funds. Fundraising for a cause and innovative ideas for fund raising, can act as a startup for a noble and charitable cause altogether. We present some creative ideas for fundraising for a cause which can be started over Gofundme platform. Crowd funding ideas on Gofundme

  1. Auctioning: Auctioning can be a good way to garner funds for a cause. We are all have items laying around the house that we no longer use or need, why not auction them off for a good cause? Auctioning these items for a price can help gather many charitable funds. Gofundme is a good platform to orient such an auction. An auction can be advertised well on Gofundme and large sales can be expected due to a wide reach of this online platform in varied regions. This can help generate large sums of money as funds for the cause.
  2. Meal Seller: Preparing and selling off meals and food items like cakes, pastries and sweets can be a good way to raise funds. Organizing a meal seller event and launching it over Gofundme to reach the masses can be a certain hit. As internet has a wide reach nowadays, online platform like Gofundme can surely help support a fundraising cause in a big way.
  3. Community Service: Identifying and performing unique community jobs like car washes and the like can be organized and advertised over platforms like Gofundme. Volunteers can be urged to join hands to the fore for engaging themselves and being a part of the fundraising cause. Schedules and list of services can be properly advertised and awareness can be readily spread far and wide.
  4. Cultural events: Fun and cultural events like dances, concerts and talent shows can be a good means for gathering funds for a cause. Entry fees to these events, although nominal in stature can be an instant fundraiser. Advertisements over platforms like Gofundme can generate instant attention amongst people. Generating funds from fun events and cultural events can surely help generate the requisite funds for a cause.
  5. Match Skills: Organizing a charity event like a football or a cricket match can help generate good amounts of funds for a cause. Tickets for the viewers can be sold over platforms like Gofundme to maximize reach amongst the people. The cause for the charity event can also be advertised over the platform to generate greater impact amongst interested people and generate maximized funds.

These are some of the events which can be started over crowd funding platforms like Gofundme and greater returns in terms of funds raised can be achieved and garnered.

Crowdfunder

Fundraising companies with Crowdfunder

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Crowdfunding has changed the way of financing budding companies; in fact the ease of gathering funds online has simplified this financing. In lieu of sites like MyEfunder and Crowdfunder, entrepreneurs turning to Venture capital firms , banks and angel investors for gathering financial for their idea is soon going to be a thing of past.

The crowdfunding platforms like Crowdfunder and MyEfunder gaining momentum in the arena of financing start-ups  is the result of the ease these platforms provide to their clients. Crowdfunding is a way to raise finance for the company, through group funds. The concept of crowdfunding can be easily understood by studying sites like Crowdfunder and Kickstarter on a closer note.

The concept of crowdfunding is basically sectionalised in two kinds; equity based crowdfunding and rewards based crowdfunding. The former gives the funders shares in the start-up, while the later gives them rewards from the start-up in the form of products, services or even cash.

What do sites like MyEfunder and Crowdfunder do in this regard?

With the concept of crowdfunding, well-known crowdfunding platforms like Crowdfunder build the bridge in between the Start-up and the funders. There is no dearth of ideas nor of the people who are ready to fund them, but one finding the other is definitely a problem. Sites like Crowdfunder know the address of both, thereby help promote the budding idea to various funders. Top breed sites in this regard like Crowdfunder and Indiegogo have a sound and user-friendly online platforms to support funding for companies. Websites of Crowdfunder and MyEfunder are easy to understand and handle.

Taking things altogether

Another advantage of Crowdfunder and MyEfunder is that they are they gateway to not only crowdfunding but also to other fundraising sources such as angel investors and venture capital firms. This facility on Crowdfunder ensures that the start-up would get exposure to all kinds of funding sources and might end up gaining funds from one or more sources of funds.

Earning of crowdfunding sites

These crowdfunding sites are themselves registered companies and earning for them is through the commission from the people who campaign for their start-ups. With variety of sites in this field there is more than one method of earning from this commission. In particular, Crowdfunder allows you to create a free user profile, but for displaying the idea to gather funds it mandates you to have a membership plan and pay for it.

Platforms like Crowd funder and MyEfunder are not only ways to garner funds, but also a way to research about latest trends going on in the market, thereby shaping way for future ideas to evolve. They give a live view of the market, right on your computer screen and wings to your budding company without much toiling.

crowdfunding websites

Fundraising for a Cause and the role of crowdfunding websites in it.

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When it comes to helping a cause, the name Non-Profit organization is the first which comes to your mind. It is well known to us that a good NGO devoted for a particular cause would leave no stone unturned to help realize a cause- be it in terms of financial assistance or any other assistance. However, when it comes to gathering funds for the cause, crowdfunding websites play an important role.

Other than NGO operation, fundraising for a cause can also be for a personal cause of illness, or need. However, common to both can be a crowdfund facilitated via crowdfunding websites.

Fundraising for a cause demands the person to get emotionally attached to the cause for all positive reasons. Let’s have a look at the common aspects of accumulating funds for a cause, both individual and for an organization, more precisely with the involvement of crowdfunding websites

Preparation for the fundraising

As an individual it is you who has to decide whether you want to work for the cause or not, but in order to gather funds for a non-profit organization, discussion with the organization on the course to be followed while fundraising is important. The course includes everything from the fundraising ideas, staff involved, inclusion of crowdfunding websites and the procedure followed for the transference of funds. Another important aspect is the taxation involved on the collected sum. Last but not the least, whether it is an individual cause or NGO, it is important to keep a written record of all the processes and funds involved.

Formulation of core plan

The core fundraising plan is the part on which you have to sweat the most. From coming up with a fundraising idea to giving it a proper track, gathering resources and advertising for the day everything requires both your mental and physical hard work. Your fundraising plan should be planned with preparations of public survey such that it connects to the masses, resulting in making the most out of your effort. It should be further kept in mind that if the next is enacted then personnel from crowdfunding websites can also help in making the core plan

Involvement of crowdfunding websites

To make your ‘fundraising for the cause’ a success to the fullest, it is important to attach the idea with crowdfunding websites. The crowdfunding websites offer your fundraising plan an elevated platform which helps it to garner more popularity amongst the masses, thereby, generating fund for your cause like never before.

Motivation for the fundraising

Above all mentioned aspects, is the motivational conscience for the cause. Belief in your cause is the inspiration behind the whole setup of ‘fundraising for a cause’. In the course of fundraising you could take help from external agents like crowdfunding websites, but the successful accumulation of crowdfund in the whole process defines how closely you feel for the cause and how far would you go to see it flourish?

A successful fundraising brings to light a person’s innate qualities that he can bring positive changes to the society, he can or cannot take the help of crowdfunding websites in this process An individual, accomplished in fundraising for a cause can think of taking a step forward by setting up a NGO for a cause for which he feels from the core of his heart.

He is a gentle soul who spends self for the sake of others, and it is crowdfunding websites which assist him in raising the count of his good deeds.

Indiegogo

Why go for Crowdfunding?

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Today, a lot of people think to launch their own indigenous project, but only quite a few are successful in doing so ; most of them are trolled back to drop the idea in lieu of lack of funds. The traditional funding of businesses is the story of past; here we bring to you why an alternative approach of funding a business, project, venture or social cause.

The idea known by the name of crowdfunding is not an alien to people today, but why it stands out of the alternative funding herd is the point of interest in this article. A lot of crowdfunding platforms like Indiegogo, Myefunder.com have raised the bar of funding by introducing the idea of online fundraising. Let’s have a look on why the project initiators are all going gaga over the mechanism of crowdfunding.

  1. Two in one job: The online fundraising via Indiegogo or Myefunder.com is not a mere collection of funds for your project, but the interest of funders gives you an insight of how your product is going to fair in a live market.
  2. Easy to go with: Sweating involved in getting funding through loans and other means is known to all interested and a major portions of it comes from the paperwork involved. In case of an online fundraising through crowdfunding platforms like Indiegogo and Myefunder.com it is a hassle free process.
  3. Getting yourself identified: Once, your projects starts getting positive reviews from the funding fraternity, get ready to handle your fan following. Website like Indiegogo, involved in online fundraising offer facilities to build a community consisting of people supporting the idea and having similar interests.
  4. Minimizing the risks involved: Since the crowdfunding platforms like Indiegogo are easy ways to predict the validity of the project, hence it could be deemed that online fundraising gives an informal certificate of reduced risk in the venture. This scrutiny allows you to take a deep breadth and play safe.
  5. Increase in the number of success: The increase in the number of supports to the project follows with the revelation that a number of people feel attached to the venture and are keen on knowing its each and every update. It is the after effect of the online fundraising that two persons sitting at different geographical locations might feel elated at the success of a common project.
  6. Inherent nature: One of the main reasons to opt for online fundraising through Indiegogo and Myefunder.com is the concept of crowdfunding itself. Being different from traditional methods, crowdfunding gives you an upper hand owing to the fact that here you can target the audience specific to your requirement. You get a survey platform, a testing environment and a bunch of supporters’ right in front of your computer screen.

Crowdfunding platforms like Indiegogo, through their online fundraising concepts have brought revolution in the field of start-ups and fund collection for charity. They have vested the power in the hands of user itself; to be the maker or breaker of their concept. The stronger, the better the idea, more chances of it to get successful!!!

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

Top Crowdfunding Benefits for Investors

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4 Ways Crowdfunding Benefits Investors

Crowdfunding is a relatively new phenomenon, and a way to help entrepreneurs and startup business owners gather the funds that they need as initial capital or investment funds. It is well-known that this process works with some strategizing, but many people wonder how this business model actually works out for the investors. In other words, what benefits do the investors get out of investing in startups who may not be able to pay them back in terms of money? Read on to know 4 benefits of crowd funding for investors.

Ability to spot new opportunities

Inventing a new business idea that can work is not always possible. If you are into business, you must already have a fair idea of how difficult coming up with a sound business idea can be. On crowd funding sites, investors can readily get business ideas along with owners or entrepreneurs who would be responsible for the success or failure of the business. Thus, they do not have to manage the business alone. The business idea is developed by somebody else, and even the management aspect is taken care of by that person.

Ability to share the investment cost

Crowdfunding websites such as Indiegogo or Kick Starter allows investors to share the cost of investment. In simple terms, they do not need to invest alone. They can simply invest a part of the money that is needed by the startup owner and encourage others to do the same. Crowdfunding takes care of the fact that the entrepreneur gets the necessary funds for starting his or her business. However, the entire burden of investment does not fall on a single investor.

Ability to get good rewards

Although the crowd funding rewards might not be as profitable as real cash, they can come in handy at times. For instance, a food store might offer rewards to its backers in the form of discounted foods during office parties, holiday events or special family events. A photography business might offer to cover a wedding or birthday party for free or at great discounts. Investors can come across such businesses easily on crowd funding sites like Kick Starter.

Ability to know which businesses work

On crowdfunding websites like Indiegogo, investors can also get the chance to put their money on different businesses and track their success of failure. This helps them to understand which businesses work, and imitate the success strategy of those enterprises.

Keywords: crowdfunding, crowd funding, crowd funding sites, Kick Starter, Indiegogo, crowdfunding websites

Creating Community Awareness and Support thru Crowdfunding

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How to Use Crowdfunding to Obtain Community Support?

You must have heard about how crowdfunding has become one of the newer ways of funding, and is even being considered as a viable alternative to traditional lending institutions such as banks. This is actually one of the ways to raise money from many supporters for a single goal or project. It takes online fundraising to the next level, and helps people and organizations to get the support from a community of likeminded individuals in order to get finances for a project. Read on and know how you should use crowdfund to get support from the community.

Express yourself well

There are lots of crowdfunding websites, such as Kickstarter and IndieGoGo, which can help gather the necessary funds for a project. With these platforms, you can get a prominent position from which you will be able to run a fundraising campaign. These offer some of the best fundraising ideas, and you have to offer a small amount of money as fees. But it is important to express your ideas well to the crowd of potential crowdfunder investors and customers that you are trying to reach out to. Clear expression and articulation can help you to get people crowdfund your business. You can easily get the capital required and get your project started.

Mention the idea and the business plan

Some people hesitate to come clear about their business models and plans on crowdfunding websites, for fear of imitation and concept thefts. But you need to realize that without a proper idea about your business plan and your background, crowdfunder individuals will hardly feel enthusiastic about supporting you and get your venture off the ground. It is essential to tell them where and how you intend to go with your proposed venture. Be real, honest and transparent on the crowd funding sites and you can get the trust of people. You can make them crowdfund your project with less insecurities and greater amount of confidence. As the concept of fundraising online revolves around gathering community support, it is important for you to be serious in your efforts and make sure that you leave no stone unturned.

Mention the results and end goals

You also need to come clear about the kind of results that contributors can expect to witness and the time frame that they can see it in. You should tell them about your business model and the type of revenues or rewards that you expect from the venture. You need to tell them the reasons why they should feel the urge to be interested in your campaign, and prefer to invest on you instead of others. Keep in mind that crowdfunding is one of the best ways to raise money based on trust. Naturally, the more that you can get people on crowd funding sites to trust you, the better you will be able to get their support. The kind of support that you can get may go beyond simply monetary contributions. Your investors can spread word about your campaign and enhance your online fundraising efforts.

Keywords: Crowdfunding, fundraising ideas, crowdfunding websites, crowd funding sites, crowdfunder, crowdfund, ways to raise money, online fundraising

Crowdfunding Websites – 5 Tips to Compare Them

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Crowdfunding Websites – 5 Tips to Compare Them

You can find many crowdfunding websites on the internet, with each of them coming with a unique set of features. Some of these target particular niches, like filmmaking, music or journalism. Others serve any type of projects. Various crowdfunding platforms present various types of projects, and you can use the following 5 tips to compare them.

Check out various sites

First of all, you should browse through various online fundraising sites. Find out how they allow setting up of crowdfunding profiles. Check which elements are allowed – blog, present contributors, rewards for contributors, progress for funding, goal for funding, videos, images, descriptions, project titles etc. With these parameters, you can also evaluate other sites of this type.

Compare them depending on your requirements

Next, you should compare the crowdfunding websites on the basis of your project requirements. For instance, if your venture can be understood only in a visual manner, it is best to go for a fundraising website which can help you post videos and images. If you can describe your project only in words, you have to choose a website that allows you the same. If your venture is in a specific niche, you need to go for a crowdfunding site which allows you to target that particular niche.

Go through the terms and conditions

You should also properly go through all the terms and conditions of the online fundraising sites that you intend to use for online fundraising for your project. You can find two primary forms funding structures – however-much-you-raise or all-or-nothing. The second model lets you get finances only when your funding goal meets a particular deadline. If the deadline is not met, the funds are returned to the backers. Although this can seem a little odd to you if you are new to the concept, this model inspires a lot of confidence in potential investors and is quite successful. But if you do not like it, you can go for the first model.

Check out the fees

You should also check the type of fees that are charged by the crowdfunding website that you choose. It is better to go for one that charges lower fees, especially if you have a tight budget.

Test varied platforms

You should also do some amount of experiment. A lot of crowdfunding websites let you test them before actually making a pitch. You should try out 3 – 4 varied crowdfunding platforms in order to find the one that suits you the best.

Keywords: crowdfunding, crowdfunding websites, online fundraising sites, crowdfunding platforms, fundraising website

Kickstarter, Indiegogo or MyEFunder

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Kickstarter or Indiegogo – Which One Should You Go With for Crowdfunding?

Crowdfunding has become extremely popular with new entrepreneurs, especially in these tough economic times when it has become tougher to gather funds for even small investments. Luckily, there are crowdfunding websites available today that have been set up to provide entrepreneurs and potential investors with the ideal launchpad to release their products or establish their ventures. Kickstarter and Indiegogo are two of the best crowdfunding sites out there which promote crowd-funding that is donation-based. There is a long-standing debate on which one is the better site, and the following points can be helpful for you to know which one you should go for.

Acceptance of Projects

Kickstarter only finances projects that are creative in nature, such as videos, music, films, journalism, comics, stage shows etc. On the other hand, Indiegogo does not have any preferences with the projects. It accepts every type of project without any type of restriction. It offers a lot of flexibility in terms of accepting and releasing various project ideas.

Project Fees

Kick Starter tends to charge a fee of 5% for projects which receive funds successfully. But entrepreneurs do not get anything in case their funding fails to meet the specified limit by even a few bucks. Indie Go Go charges a fee of 4% for projects which receive funds successfully and a higher fee of 9% for those that fail to meet the limit.

All or nothing model

Kick Starter maintains it security by following an ‘all or nothing’ business model. This means you cannot get any funds if you fail to meet the deadline. But Indie Go Go proves to be of the best crowdfunding sites as it does not follow such a model. Although this measure bypasses the urgency to gather funds, it proves to be useful in some cases.

Success rate

Of the two crowdfunding websites, Kick Starter enjoys a higher success rate of around 43%. But it has less total number of campaigns, slightly more than 46,000. Indiegogo has a reported success rate of about 10% but it has more than 92,000 campaigns due to its flexible policies in project funding.

User Traffic

Kickstarter has better traffic and more number of users than Indie Go Go. The moderate user traffic of the latter is believed to be a result of its financing strategies.

Considered from varied angles, Kickstarter seems to be more dependable, secure and popular. However, Indiegogo is also beneficial due to its better strategies, features, special algorithms and easier accessibility across the globe.

Keywords: Kickstarter, Indiegogo, Crowdfunding, crowdfunding websites, best crowdfunding sites