Crowdfunding has really picked up steam in the last few years. According to reports, it is set to overtake venture capital investment soon. If you are looking for funds to launch a small business, then crowdfunding is an option you should give serious consideration.
Many successful companies have come up the crowdsourcing way be it Cloud Imperium’s Star Citizen games or others that may have never seen the light of the day otherwise. Successful crowdfunding campaigns are usually from businesses in technology, design, film, travel, restaurants – cafes, bakeries, food trucks, design firms, craft businesses or eco-friendly businesses.
Giants such as Microsoft and Redditt have used crowdfunding with good results. Female entrepreneurs benefit from crowdfunding sites as they have launched very successful campaigns. Less well connected entrepreneurs can also take advantage of the access offered by crowdfunding.
Crowdfunding for business can be:
- Rewards based, where you can give your backers a tangible item or service in return for their money.
- Equity based, where you give the backers a stake in your company.
- Lending based, where investors will be lending your company their money for interest, rather than for a piece of the company.
As a crowdfunded company, you can also convert your backers into customers and advocates. By getting their buy-in you can get a vast customer base who give feedback/spread word about your product. You can create a campaign here to obtain crowdfunding for business. With
- an easy to use interface,
- built-in social networking,
- Campaign short code (WeCode) which makes it convenient to share in digital and analog world
- “Video-ask” video share concept with viral potential
- peer-to-peer fundraising goal sharing
- mobile-ready WonderWe apps
and other innovative features it will help you - whether you are an individual or a group - reach out to enough backers that you could launch that small business.