How did I miss the concept of crowdfunding?
Thanks to an Entrepreneurial Finance class, I happened upon these wonderful platforms. Now, all I need is an idea. Something wonderful that will solve all the worlds problems. You may be as confused as I was about this. I have reviewed several wonderful sites such as Kickstarter, Indiegogo, and fundly. Each of these sites has backers that are willing to support your endeavor. These endeavors could include a great gadget, social cause, or a new business. The backers are willing to take a chance on you and your ideas. With Indiegogo, you will pitch your idea and possibly have a perk that usually involves your product. The backer will support you in exchange for the chance to be the first to try your product. They want to help start something.
This funding does not come without a price. There is a fee for using the platform. The platform fee for Indiegogo is 5%. There is also a charge to the backer which is a payment fee.
Join me next week for more details on Indiegogo.