Monday, 13 January 2014 00:00

Where Should You Turn For Crowdfunding?

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For artists, inventors, and entrepreneurs who have great ideas but not the funds to back and launch them, crowdfunding can be the perfect answer. By putting artists, dreamers, and others needing funding directly in touch with the public, crowdfunding sites create a bridge between new ideas and nontraditional sources of startup capital. 

But, if you’ve come to this page, you're probably wondering which crowdfunding site is right for you, and how you can make the most of the opportunity. Below, you'll find some easy-to-follow tips for turning your inspiration into a working project.


Matching Your Idea to the Right Crowd

As crowdfunding has moved from a small niche market to a $5 billion (and growing) industry, lots of new sites and ideas have popped up along the way. Some allow you to ask for simple donations, while others let you share a piece of your company or product with investors. 

Either way, a key step toward getting the funding you need – and getting your venture off the ground – is choosing the right venue. Here are seven of the top crowdfunding sites you should know about: 


1. Kickstarter. The biggest and best known of all the crowdfunding sites, Kickstarter lets you ask for donations to get started with a product, piece of art, or other inspiration. In return, donors are normally given a discounted version of the finished piece, or exclusive access to a limited edition release.


2. Indiegogo. Geared more toward creative projects, Indiegogo is perfect for getting your novel, album, or movie off the ground. The donation process works in the same way that Kickstarter's does, and allows for interested parties to give money in several different tiers.


3. Crowdfunder. Tilted toward investors and startups (as well as companies that need capital to expand), this site offers a number of investment options, and mainly caters to those looking to earn a return on their money, rather than contribute to artistic creation.


4. RocketHub. Attracting lots of creative projects with a charitable edge, this is the perfect site for those creators who want to see their work come to life while improving the world, or telling an important story, in the process.


5. Angel List. Created with the intention of bringing startups and quick-growing ventures together with "angel investors," the site can be the perfect forum for promoting a technology product or concept. Be prepared to deal with experienced investors who want a meaningful stake in your new company.


6. Grow Venture Community. Like some of the other sites on this list, GVC matches entrepreneurs to inventors. However, it is also built to create relationships between different partners and promoters so that each project can have the highest potential for success.


7. SoMoLend. This site isn't set up for soliciting donations, but taking on micro loans. So, if you don't want to give up part of your company – but still want to see your business or product line expand – then this might be the perfect place to make your pitch and find funding outside of traditional banking.


A Few Tips For Successful Crowdfunding

ü  Outline your project thoroughly before asking for money – potential donors will ask questions, and you have to be ready to answer them.

ü  Keep track of your progress through a dedicated web page or social media profile. People like to give money to a winning idea, and you could see your support multiply quickly.

ü  Get to know a site before you start soliciting donations. You might even give money to a couple of projects on your own to see how the process works. 

ü  Never ask people to donate to a project if you aren't sure you can see it through. You'll wreck your reputation, and might have to return the funds later. 


And don't forget... after your crowdfunding project gets off the ground, the creative team at Knightling will be here, ready to help you take your company's marketing to the next level!


Read 2582 times Last modified on Sunday, 18 May 2014 22:33