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.
Tina,
Crowdfuding is an amazing way for people to “back” your idea/business. I never knew about crowdfunding prior to the entrepreneurship program. While I researched various crowdfunding sites, I found that depending on circumstances entrepreneurs have multiple choices. Using crowdfunding is a great alternative instead of having to get a loan. Great post!
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Audrey,
I had no idea that there were so many opportunities with crowdfunding. I am currently researching Indiegogo and I have seen some great ideas. I am hoping to be a backer at some point. Thank you for your comment.
Tina
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Tina,
I never even knew about crowdfunding until this course and I find it amazing that people are willing to invest in companies.
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