Comparison of Online Crowdfunding Platforms

Crowdfunding is certainly creating buzz in the field of project funding. The buzz is such far and widespread that a lot of people are finding ways to get successful through the crowdfunding business. This has led to the rise of a large number of crowdfunding platforms and with increase in the flock comes crowdfunding comparison.

A lot of people who want to taste the flavour of crowdfunding are often confused with the choice of crowdfunding platforms, hence arises the necessity of crowdfunding comparison. A crowdfunding comparison in between top notch crowdfunding platforms is a way to help people decide about the platform they use to set up a crowdfunding campaign. A campaigner could be anyone from creative people like musicians, painters to innovators and entrepreneurs.

Crowdfunding comparison between famous crowdfunding sites

1. KickStarter: Conceived in the year 2009, Kickstarter was primarily associated with people with artistic capabilities. A crowdfunding comparison shows that it is the site that has set up more successful campaigns than any. It is the best option for projects with creative ideas. A fundraising page is what gives a kick-start to the projects and further helps in the crowdfunding process through its blogs and tutorials. However, another crowdfunding comparison fact is that with every project on Kickstarter comes a strict deadline of 60 days, until which if the projected funds are not raised, the collected funds are reverted to the investors.


2. MyEfunder: Although younger than most of the platforms present in crowdfunding comparison circle, MyEfunder has not left any stone unturned to be in this list. The crowdfunding comparison shows that this crowdfunding platform is an option for all kinds of fundraising be it charity or innovation or creative. It provides a fundraising page and that too for a reasonable price. The platform has within less tie given ample numbers of successful projects.


3. Microventures: Launched in the year next to Kickstarter, Microventures gives a high probability of success to crowdfunding projects campaigning on the platform. Crowdfunding comparison shows that it is a sturdy bridge in between budding small businesses and investing parties like venture capitalist and angel investors. The drawback however is same as that of KickStarter.


4. Indiegogo: Indiegogo is a treat for any project till it lies within the law and is ethical. Crowdfunding comparison shows that fundraising on the site is for a period of 120 days. Another advantage of Indiegogo which the crowdfunding comparison shows that it allows to keep the funds raised even if it didn’t reach the deadline. Indiegogo is one of those top notch crowdfunding platforms which are at par with Kickstarter in the crowd funding comparison Anyone with some fruitful idea can find its way on Indiegogo and with correct efforts it might lead to win-win situation for them.

Crowdfunding comparison is helpful tool while assessing the correct crowdfunding site for your project and this correct decision would definitely be the correct step turning your dreams to reality. Happy Crowdfunding for your project!

Comparison of Online Crowdfunding Platforms

Launching your company with the help of crowdfunding companies

The next big start-up phenomena might be grooming inside your mind waiting for you to unleash it in reality, but in soothe only an idea cannot make the flesh and bones of a company. The finance part in an obvious backbone of any project and it is for this part crowdfunding companies come in the picture. There are traditional ways to get finance for the start-up but owing to their complications and requirements, entrepreneurs find peace of getting finance through crowd funding companies. The rise of funding through crowdfunding companies is on the rise and year 2016 is predicted to rank it above the venture capital’s option of getting funds.

Crowdfunding companies setting up strong roots for start-ups

It is true that getting funds for the start-up is a prime necessity but there are other necessities of a start-up which when ignored could doom it. Crowdfunding has been in the society since ages and people have practised it without the crowdfunding companies in picture. However, the chances of success were quite low in lack of guidance. The present scenario is bit different, these crowd funding companies are not only act as source of crowdfunding but also guide the start-ups through the process. These crowdfunding companies are available right on the computer screen and are often termed as online crowdfunding platform. These crowdfunding companies not only provide easy setting of crowdfunding campaigns, but also give tutorial and provide blogs on successful campaign launch and follow-up. These crowdfunding companies help at every step of a crowdfunding campaign. Building successful relationships with your partners and project investors is other aspect in which crowdfunding companies help.

All above could lead to a successfully crowdfunded project only if one chooses crowd funding companies related to their field. Crowdfunding companies could be of various types depending on the type of project they support and with correct one associated with the project, chances of being successful gets elevated.

Crowdfunding companies offers the way you like it

The choice between fixed and flexible funding is a very interesting feature which some of the crowdfunding companies offer. Before starting a crowdfunding campaign over a crowdfunding platform the monetary goal of collection has to be fixed. If the collection doesn’t reach the fixed amount, funds of investors are returned and the campaign is termed as unsuccessful. To ease these some crowd funding companies offer the perk of flexible funding. The project owner is asked to choose from fixed or flexible funding right at the start of setting a crowdfunding campaign. If opted for a flexible option, they are not compelled to return the investors’ money even if they do not reach their funding goals.

Crowdfunding companies offer more than one can think of. Anyone in search of easy and reliable funding could move to crowd funding companies. Interestingly when one is campaigning over one of those worthy crowd funding companies like MyEfunder and Indiegogo, one comes to know and explore the fact fat that they can offer much more to them apart from cash inflow.

Launching your company with the help of crowdfunding companies

Crowdfunding best practices to indulge in

Entrepreneurs and start-up owners are going all gaga over the crowdfunding phenomena. Almost everyone is into practising crowdfunding whether naïve or experienced. However, a very few of them try to pay attention to crowdfunding best practices. Crowdfunding best practices are the ones which could raise the chances of collection of funds through the crowd. With evolving crowdfunding websites, setting up of a crowdfunding campaign is not much of a problem but not following crowdfunding best practices could definitely raise the bar for it. This article brings to forth the crowdfunding industry’s crowdfunding best practices as advised by top experts of the field.

Some of crowdfunding best practices

1. The preparation work: Ample preparation time before the launch of any crowdfunding campaign is too much important for its success. This is one of the crowdfunding best practices which leads to collection of leads and planning a proper track to follow it. The preparation is a vital part.The fact is that banking on the marketing departing is more fruitful before launching the crowdfunding campaign than afterwards. Other crowdfunding best practices follow this very first step. The time of crowdfunding preparation must at least two months prior to its launch. This gives an initial boost to the crowdfunding campaign.


2. Videos/Photos work better: This is one of the crowdfunding best practices which could make the crowdfunding campaign stand aloof the crowd. This also comes within the preparation of the crowdfunding campaign. Videos and photos are what help fundraisers raise more than an average.


3. Perks get it going: One of the crowdfunding best practices which never fails to impress the investors’ is offering freebies and products with perks. This could be anything like a free sample or a product offered below the marked price. It is quite a possibility that your crowdfunding page might have traction, but it is the conversion that matters. Offering extras for your crowdfunding campaign will surely increase the conversion rate of your crowdfunding campaign.


4. Product description: A convincing yet short description of the product is one of the favourite crowdfunding best practices. Such a description could easily grab public attention when displayed on social networking sites like twitter and Facebook.


5. Grabbing media attention: Every crowdfunding planner involves getting published. Giving time to choose the publication wisely is yet again one of the crowdfunding best practices. Doing so brings media attention for the crowdfunding campaign.


6. Find those few supporters: Get some of those enthusiastic project supporters from the crowd and bring them on stage. Inviting them in your base camp and giving them an opportunity to work for their support is not only one of the crowdfunding best practices but also gives the sense of satisfaction to the supporter.


7. Attaching Emotions: Attaching the originator’s emotion of the project to the promotions could be one of the crowdfunding best practices. These emotions could be well displayed in videos, tweets, pictures etc., and actually get the audiences to attach to the project

Project initiators following crowdfunding best practices are surely one step ahead of others.

Crowdfunding best practices to indulge in

Crowdfunding Business Model: The Scenario

Funding from the crowd is the talk of the town these days. Crowdfunding in itself is a blooming business which is helping other start-ups get popular and raise funds from every nook and corner of the globe. A crowdfunding business model is such that it is not effected by geographical borders and political turbulences. This article brings forth the crowdfunding business model in all its beauty and serves as an opportunity for readers to reap the benefits of a crowdfunding business model. Apart from looking into the crowd funding business model this article gives an insight into the business models which have been emerging through crowdfunding.

Emerging crowdfunding markets

The downfall of the credit market in the year 2008 was a major breakthrough in bringing crowdfunding into the scene. The first of its kind Kickstarter, a crowdfunding platform emerged amidst this and so did a crowdfunding business model. The inception of Kickstarter worked well, three of its initially successful projects were the Belo Monte-Announcement of War, Pebble and #CowdfundPaRato. The concept of crowdfunding has already marked its legal footsteps in the UK and the US and slowly it is being legally accepted in the other parts of the world.

Emerging Crowdfunding business model

A crowdfunding business model was born with the birth of Kickstarter back in the year 2009. With more and more crowdfunding platforms coming in the picture the sector has undergone transformation to reach what it is today. First thing to know here is that crowdfunding is a commission based business therefore the commission has an important part in forming the crowdfunding business model. The commission part varies from platform to platform and project type to type. The range is somewhere in between 4% to 8%.

Crowdfunding platforms have to be alluring to drive projects to let them showcase on their platform as the crowdfunding business model tells that the more projects end up being on the platform more is the income of the platforms. A crowdfunding business model also has a customer relationships arm which sorts out of the grievances of the projects if there are any. However, the CRM is also responsible to make the crowdfunding process easy for the start-up owners. Other things involved in crowdfunding business model are blogs and tutorials which are knowledge resources on which the start-ups could grow and flourish. The crowdfunding business model offers much more than what is seen. As the crowdfunding industry is thriving, its magnetism keeps on augmenting.

The recent crowd funding business model also show that crowdfunding platforms have evolved from being a fundraising platform to a platform for lending and borrowing funds. Now a days it also gives space for other investors to get close to the crowd. These investors include angel investors and venture capitalists. Other essential parts of the crowdfunding business model include media production, legal services and advisory groups.

The crowd funding business model is growing with more and more people and services finding it useful. The augmentation will surely impact the world in a more positive way.

Crowdfunding Business Model: The Scenario

Crowdfunding a Restaurant

Restaurant business is one which could be easily banked upon. Food is the basic necessity of human life. This fact raises the survivability index of the restaurant business. However, starting a restaurant includes huge capital investments. Crowdfunding a restaurant is one way to gather funds for establishing a restaurant business. However, there are other sources of investments which work, but the procedures involved in those are quite tangling and tedious.

So more and more people are banking on the concept of crowdfunding a restaurant. Crowdfunding is a way of funding in from the crowd and these days it is widely promoted and facilitated by online platforms like MyEfunder and Indiegogo. Crowdfunding a restaurant is a concept which has been originated lately out of the crowdfunding kitty.

Points to consider while crowdfunding a restaurant

1. The basics: Preparation is what holds journey of crowdfunding a restaurant from its inception to its closure. Crowdfunding a restaurant is not an individual’s work, rather it requires a bunch of skilled people to look into all aspects of the crowdfunding campaign. A proper preparation time is nearly of two to three months and giving that time to crowd funding a restaurant is worth it.


2. The aim must be fixed: A proper goal has to be establish and for crowdfunding a restaurant it must be a step by step process. No doubt building a restaurant requires a lot of money but keeping the goal to that sum is not good. It has to be done in phases. Setting up goals also comes from the survey if the area in which the crowdfunding campaign has to be run. The total sum of required should be calculated precisely while keeping all costs in mind.


3. Giving Momentum: Crowdfunding a restaurant needs boost up of all kinds. A wide popularity is foremost required for crowdfunding a restaurant. Hence, a Launch party seems to be a lucrative way to lure foodie people from all around. An online crowdfunding platform is the right place to announce your launch party.


4. The promotions: A promotional strategy is the utmost requirement of achieving success when crowdfunding a restaurant. Grabbing the attention of the masses lies in the art of making the promotions sense grabbing rather than begging funds of the project. A promotion on regular basis should be the strategy to be followed here. The crowd must be able to perceive the sense of taste that the restaurant would bring upon its inception.


5. Work on the data metrics: A proper planned campaign for crowd funding a restaurant must be well analysed. The easiest way to achieve it is Goggle Analytics. It helps to get you know that the campaign is on the right track and it also helps to anticipate the success rate of the crowdfunding a restaurant.

As evident from above,crowdfunding a restaurant requires a lot of perseverance and time and if the conversion rates are to be believed, it really works. If crowdfunding a restaurant brings one person to the restaurant, then mouth publicity by a satisfied customer brings in more foodies.

Crowdfunding a Restaurant

Crowdfunding and Crowdsourcing: Understanding them right

Crowdfunding and crowdsourcing are two different words often confused and misused. Crowdfunding and crowdsourcing both are powerful tools used to strike the right chord of the public so that they lend out financial support. This financial support can be used to nurture talents, bring innovation, growth and prosperity of an individual, a group or society as a whole. Recent years have been flooding with innovators, entrepreneurs, people with artistic capabilities and even charities.

No doubt all require funds. Most of the people involved in these endeavours find the act of gathering funds from the crowd alluring and they try for it. However, they fail to devise the difference between the terms crowdfunding and crowdsourcing. They do fall in a similar category of funding but actually are two poles apart when it comes to their real meaning. This blog utilises itself in explaining the key differences between crowdfunding and crowdsourcing.

Difference between crowdfunding and crowdsourcing

Crowdfunding

Crowdfunding is the right tool to raise capital for the endeavour of your choice. It is nourished by the strength of crowd, tapping into the potential of micro-financing from a number of people. This fundamental is known by most of the people but they fail to draw the line between crowdfunding and crowdsourcing. Crowdfunding gets help in financing from people who are interested in the project. This taps into the philanthropic attitude of people worldwide.

Crowdfunding project has the following advantages apart from raising capital:

1. Project is automatically marketed while it gets advertised for crowdfunding


2. A much easy process of gathering funds as compared to other sources like banks etc.


3. Pre-launch admirers and followers which get attached to the project.

Crowdsourcing

Crowdsourcing deals with fact of getting resources from the crowd. These resources can be of any type, skilled labour, infrastructure, etc. crowdfunding and crowdsourcing both bank on the fact that many sources are far better than one. However, the latter gets skilled workforce for the project. A budding project requires attention of the masses. For which its skin has to be presentable. Crowdsourcing means getting help from people who have the talent to copy write SEO content for your project, design brochures, help getting connections and a lot more.

Benefits of crowdsourcing a project:

1. Building the project within a reasonable cost.


2. Better connections for better business opportunities.


3. Less extra efforts required for marketing and advertising.

Crowdfunding and crowdsourcing together make a great pair which help in evolution of a business. There is nothing like choosing between crowdfunding and crowdsourcing. The process of implementing crowdfunding and crowdsourcing often go through similar bridges called crowdfunding platforms. Crowdfunding and crowdsourcing could also be achieved with the same crowdfunding campaign. Both crowdfunding and crowdsourcing could be implemented for a project or the project creator could choose any one from crowdfunding and crowdsourcing. A wise thought would be to make both of them feasible through the same crowdfunding project. However, it all depends upon the requirement of the project.

Crowdfunding and Crowdsourcing: Understanding them right

Crowdfunding a Book: Getting in its Skin

Crowdfunding, as a matter of fact is a widely accepted phenomena. However, crowdfunding a book is a rare one. One of the famous instances of crowdfunding a book was by Seth Godwin in the year 2012 for his book ‘The Icarus Deception.’ The crowdfunding proceeded through KickStarter.com, and attained wide popularity resulting to a pre-release loyal fan base and a collection of nearly 200 thousand USD in a duration of 30 days. This was a glimpse of perks arising out of the field of crowdfunding a book. This glimpse also reveals the power of crowdfunding a book.

Crowdfunding: Basic ingredients

Crowdfunding including crowdfunding a book is a puzzle which is incomplete in lack of any of the following piece

1. The initiator: Crowdfunding needs a creator. In case of crowdfunding books, it has to be author of the book or any person he choose on his behalf. The incoming funds are directed to this person.


2. The money bank: Money bank in case of crowdfunding is not one source, but a mass of people interested in the project. For crowdfunding books, they like the concept of the book and are interested in funding it.


3. The mediator: The mediator is something that bridges the above two and facilitates smooth communication in between them. While crowdfunding a book, online crowdfunding platforms like MyEfunder and KickStarter could be the mediator.

Why go for crowdfunding a book?

Crowdfunding a book is not all about money, it might be called a success if it is able to generate rows of supporters who are looking forward to get a copy of the book when it is published. The concept of crowdfunding a book can impact hard into the minds of audiences and reach as far and wide as we can think. Let us explore the reasons to opt for crowdfunding a book.

1. Gather Public support: Crowdfunding books can help you find biggest followers of your work, which gives the author satisfaction. There is support and sharing which encourages the author and gives a mental satisfaction for acceptance of their work. And as it is well known that any encouragement is good encouragement, therefore this stuff could morally boosts the author like never before.


2. Passing the first level: Crowdfunding a book has the power to validate your writing. It gives you a sense of the popularity which you could gain in the field of writing and finally helps you decide whether going for it is worth your time and hard work or not.


3. Instils enthusiasm in the masses: While the process of crowd funding a book is in progress, eager masses which support the book wait with zeal for the book to get released. This is one reason, everyone must go for crowdfunding a book even if they do not require financial back-up.


4. Authenticates the self-published work: A major back-up from the audience not only gives acceptance to your work but also shows you the way to self-publish your book. Crowdfunding books successfully leads you in a favourable situation where for publishing your book you does not need to go door to door. You could do it very much by yourself.

Crowdfunding a book is what every author must give some space.

Crowdfunding a Book: Getting in its Skin