It's a Shareable LIfe: A Practical Guide on Sharing by Rustrum Chelsea & Stempinski Gabriel & Liss Alexandra

Author:Rustrum, Chelsea & Stempinski, Gabriel & Liss, Alexandra [Rustrum, Chelsea]
Language: eng
Format: epub
Published: 2014-12-30T22:00:00+00:00

HOW TO CROWDFUND YOUR DREAMS

KICKSTARTER.COM / INDIEGOGO.COM

Did you know that, according to the Small Business Administration, 65% of all jobs in the U.S. are created by small businesses? In fact, 50% of our Gross Domestic Product is produced by small businesses – yet only 17% of these businesses ever receive financing! In the current economy, banks are turning down anyone who doesn’t have at least a two-year track record. And even if a small business did manage to get conventional funding, the burden of paying back sky-high interest rates for credit could sink the ship. So, a lot of dreams have fallen by the wayside or have been left to only well-heeled entrepreneurs. That is, until crowdfunding.

Pioneering crowdfunding platforms like Kickstarter and Indiegogo are disrupting the traditional lending system by enabling companies to get a “crowd” of investors who each contribute small amounts of capital to fund a project or even a start up. A study from Crowdsourcing.org reports that in 2012 $2.7 billion was raised by more than a million individuals and businesses.

With crowdfunding, you bypass the middlemen and connect your fabulous ideas directly with willing donors and investors.

Besides the obvious monetary benefits, your crowdfunding campaign also allows you to:

Test your market strategy

Prove there is pre-sales interest

Establish online presence and generate buzz

Connect you with unforeseen partners

Obtain a network of marketing evangelists (i.e., your backers)

Raise more money than your target

With the savvy, tried-and-true tips below, you literally have nothing to lose. The only risks you take are the relatively small investments of time and energy it takes to create and launch your crowdfunding campaign, and perhaps the tiny dent to your public image if it doesn’t reach its goal. Tim Ferris, author of “The 4-Hour Workweek,” says, “I look at my network as my net worth.” That has never been more true than in today’s new gold rush of crowdfunding.

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