Crowdfunding: Startups and Growing Small Businesses, it’s Time to Get in the Game!
Hey small business owners and those looking to get started, have you heard of crowdfunding? Maybe you’re asking yourselves, ‘What is crowdfunding?’ Crowdfunding is a fairly new fundraising method where monetary contributions are made by a large group of people to a cause, project or the like, usually on the Internet. Ok, so maybe your next thought is, ‘How will this work for my small business?’ Crowdfunding is an undiscovered gem for small businesses, and a great way to build and sustain your business. Recovering from the recession, maybe your business was hit hard. This winter was especially tough with periods of extreme weather. Everyone needs a boost now and then, and if you’re looking to launch your small business you may have sought the traditional route: investors. Seeking investors is a great thing, and living in a technology-filled world, it’s time you and your small business take advantage of the funding available to you.
In this article, Wejungo will explore a few avenues that can be of great resource for small businesses and those seeking to start their small businesses. No matter your size, you need the bankroll to support your small business, or your idea that will one day blossom into your small business. There are some pretty popular crowdfunding resources out and some that are less well known. We’ll visit Kickstarter, Gofundme and Indiegogo.
Right now, Kickstarter is one of the most popular crowdfunding internet sources. Kickstarter launched in 2009, and is a space where those desiring to get their projects up and running use. Kickstarter is used to describe your project (or idea) and express why it would benefit people/society. Project creators set a deadline of when funds are needed, and backers begin to support. Their website states that 44% of all projects have reached their goal. And creators keep 100% ownership of their work. Visit them at www.kickstarter.com.
How does this benefit my small business? Not only do you get to keep ownership of your business, but it is an amazing opportunity to MARKET your product or service. It’s a free marketing investment! Tell the world how your small business makes it better.
Gofundme is another extremely popular internet fundraising resource that allows people to showcase their projects, ideas and causes to the world. It’s slightly different from Kickstarter in that there are no deadlines or goal requirements users must set, but it does require email registration. There is no fee to get started, but Gofundme does keep a percentage of each donation. Visit www.gofundme.com for more info.
How does this benefit my small business? Gofundme gives users more freedom in pitching and describing their projects and causes. There is a broader landscape for small businesses to take advantage of when looking for investors for their business in cyberspace. The types of small businesses that exist seem endless, and Gofundme absolutely caters to the magnitude of variances.
Indiegogo is international in their crowdfunding scope. And they were one of the first in the game. Indiegogo is the largest crowdfunding online source and is very detailed in providing step-by-step guidance in how to start your campaign and see it through until completion. Similar to Gofundme, but larger in scope, Indiegogo displays a multitude of categories to choose from when beginning the fundraising process. And best of all for small businesses, there’s an entire section just for you!
How does this benefit my small business? Depending on the type of small business you are running, or desire to start, your platform instantly becomes international. Indiegogo caters to a wide variety of causes, ideas and projects; take advantage small businesses that you have a space to call your own.
Don’t waste any more time if you are looking to get your small business off the ground, or if you’re simply looking for more resources to steady your small business. Crowdfunding is an opportunity all small businesses should at least examine, and hey, even if you end up taking another route, you’ve learned something new in the process. But don’t knock it ‘til you try it!
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Anna joined Wejungo after 10 years of recruiting high school students to go to college. Throughout her career, Anna found that she loved talking with people and learning about their life and accomplishments. She wanted to find a career where she could learn from inspiring and accomplished business owners and leaders as well as impressive candidates with unique background, interests and successful careers that span 20+ years!
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