What is crowdfunding?

[Terence]

And what successful platforms do you know for the startups and projects?

[John]

The process of crowdfunding platform’s working is pretty much simple. All you need to do is to publish your idea on the concrete platform, where all entrepreneurs with the idea gather around to engage the community.

After the little sign up you should provide a particular pitch, which will help you to describe your project, give the central idea and goals as well as underline why your community needs to fund your idea. Remember that the more you tell about yourself and your idea – the more people will help you to receive a particular amount of money.

[adamjonesvv]

There are different success stories around entrepreneurs who did an excellent job of presenting their idea to the international community. There are various formats of pitching, which usually helps to achieve more audience and engage the community. For instance, more and more entrepreneurs are looking forward to recording the videos with the interesting visual materials and talks. So, basically you can go to kickstarter.com to see some great examples of how they are doing crowdfunding. One of my best examples is Petcube.

[Yorkie11]

If you are looking for the Kickstarter or other platforms for getting the funding from crowds for your business, you should maintain a complete planning of the budget and investments as well.

Do not consider it as a plan of activities but think about it as an opportunity to investigate the future opportunities and learn more to succeed. Besides a comprehensive budget planning, you should also have a particular plan for your overall project strategy and goals. Think about the future of your business, objectives and tasks as well as concrete KPIs you want to achieve.

[Terence]

Yes, I know Kickstarter and love its idea overall. They are doing a great job and there are so many great startups with their stories and plans. Thanks for mentioning it here.

[John]

Also, it is all about the people but not for the plan of activities. According to the statistics, more and more people are looking for the right business team to conduct a perspective idea, and less investor is searching for the plan of activities. If you have an inspired and motivated team to deliver the comprehensive business approach to the society, you have more chances to get investments through the funding from a crowd for enterprises.

[Yotamion]

The other great example of the crowdfunding platform is Indiegogo. Good for charity projects besides business ideas. You should try it. It is also popular in the US.

[John]

I know Indiego and love it so much. A friend of mine used to donate for some coworking hub in LA and their video was awesome. And I sometimes go to Kickstarter for an inspiration. These websites are very similar. And, if I remember correctly, they both charge 5% for the successful project.

[Terence]

Never heard about Indiegogo – will go and look at it now. Thank you.

[John]

If you are planning to go to the crowdfunding platform with your project – remember that you should not spend a lot of money on advertising. Be yourself and always shop around for the opportunities, which meet your business needs and goals.

Financial analysts have different pieces of advice on the effectiveness of the team, which is planning to get the funding from crowds. But an essential advice is to be productive during the overall pitch and crowd funding process. The best idea to provide a current buzz around your project is to tell a story.

[Author]

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