Tips On Choosing A Beach Wedding Venue. After much debate between your partner and you have settled that a beach wedding is best for you two. How then do you choose the beach that suits your wedding? Whether you plan to have wedding in your locale or even at an exotic beach, there are a […]
FUNDAMENTALS OF CROWDFUNDING. Crowdfunding can be defined as a platform which people use to raise money in large numbers which help them finance their businesses. The internet is one of the platforms that is used by people to raise money. There are so many other platforms that can be used in crowdfunding as long as people understand each other. In the business world, crowdfunding is becoming a thread. In the US, there has been a research that has been conducted and it shows that there are over 600 million dollars that have been collected by business men using these platform. This just a simple indication that crowdfunding is here to stay because it is bound to help people start their businesses. It is also a source of funding for the non- profit who are seeking contributions and for artists who are seeking recognition for the creative efforts they have. There are so many crowdfunding platforms that are used such as Kickstar, Indiegogo, and LandingClub. It is on these platforms that donations are sought in return you get a special compensation. Each and every site have their unique terms but the general concepts in all the platforms is the same. Another use of crowdfunding is it be used to collect loans as well as royalty financing. For example, a site like LendingClub gives its members a chance to directly invest in and borrow money from each other. These platforms are able to benefit because they have been able to eliminate businessmen from their transactions. Businessmen and investors are given a chance of coming together through these platforms. LendingClub also aims at selling the company shares or the ownership stakes in the company on crowdfunding websites. This is a worthy platform because it provides startup or early stage companies an opportunity to launch their products and services without exposing the entrepreneur loan officers who are offering them with the loan. Once a crowdfunding campaign is successful, it offers businesses with the financial support they need and it also creates a base for customers who feel it is their duty to patronize the business for they have a steak to be successful. Some of the advantages of crowdfunding is helping others start up their own businesses. If a crowdfunding platform is not well arranged it can be a waste of resources. Despite the advantages of crowd funding it also have its own disadvantages. Involve family members, friends, and well wishers who will be willing to share your business passion with you in your crowdfunding campaign if you want to be successful. Friends, family members and well wishers will be your number one encouragers and they will encourage others to join the platform on your behalf for you to be successful in the crowdfunding platform.