What is crowdfunding?
I googled it (as you do) and this is what Wiki had to say about it. “Crowdfunding is the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet.” Thank you google.
So let’s imagine you had a great idea, you’ve spent days, months and years of your time along with every single cent you own on prototypes, sourcing, trademarks, domains… really I should stop here, the list does go on. Now your idea is ready to be shown to the world and they’re screaming for it! How are you going to scale your business with no funding? A bank loan? Investors? Unfortunately the bank flat out refused your application, you can’t find an investor and the people are still screaming at you!!!
Crowdfunding turns those screaming fans into backers, usually online via a site like Kickstarter. They each pledge X amount of money and then as if it was magic, your dreams become reality. Now I should point out not all crowdfunding projects are successful. You really need a kick arse campaign and a product or service that people want.
Kickstarter is one of many crowdfunding platforms available today and by far the most known. Below is a short video of their humble beginnings.
How do I “pledge”?
Ok, so you’ve identified yourself as one of the screaming mob. Making a donation/pledge is easy. You can either give an amount of your choosing and/or claim one of the rewards/perks on offer. All projects have different reward levels from as little as $1 to thousands. If however the campaign doesn’t reach its goal, no money is withdrawn from your account and the campaigner goes back to the drawing board.
Why did you choose crowdfunding?
I’ve been working for a long time to bring Gold Scout to life, and the reality is, I would never be able to launch without an investor or a platform such as Kickstarter. It enables creatives the opportunity to bring their ideas to life thanks to the support of others.
If you have more questions about crowdfunding or Kickstarter head to their FAQ or shoot me a comment, I’ll try my best to answer it for you, I may resort to google.
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