Do you think you have an idea that’s the next biggest craze? Whether you want to open a restaurant, found a charity, or fund an artistic venture, crowdfunding can help you get off the ground. Websites like Kickstarter, GoFundMe, and Patreon make it possible for anyone with the motivation to find the means to launch a startup or small business. These platforms allow great ideas to find funds and flourish — and the next one could be yours.
Crowdfunding is a way for many different people to contribute small amounts towards a project they believe in. Though it comes in relatively small portions, projects can raise hundreds of thousands of dollars in just a few weeks to months. What motivates people to give their money? The funders can reap special rewards like insider content, future products, or equity in the company. And because there is such a huge market for crowdfunded ideas, there’s a platform out there specifically for anything you could come up with.
A huge benefit to crowdfunding is that it allows you to connect directly with your audience. This allows you to get a sense of who your audience is and what needs they have. Early on, your idea will be either validated or reworked to fit your consumers. This increases your chances of continued success because you understand both your product and target audience more fully.
To reap the full benefits of this funding technique, make sure your campaign is professionally communicated, has rewards, and is easily shared. To help even more with funding your business and get started on your campaign, Fundera created this useful infographic guide on how to get started crowdfunding. Keep reading below to learn more about the benefits and types of crowdfunding.