Until a few years ago, what did you do if you had a brilliant business idea and no bank loan? Perhaps you prayed for a miracle. And now? Well now… you simply crowdfund your business.
Known by many names- crowd sourced capital, crowd financing, and fan funding, crowdfunding is the savior of people with extreme talent but no capital. It is the latest buzz in the world of small entrepreneurship.
It is interesting to note that while the buzz is new, the concept itself is very old. One of the greatest musicians of all time, Beethoven, used crowdfunding to procure funds to compose and play. You, as experts will agree, have an obvious advantage over Beethoven- maybe not in terms of talent, but definitely in terms of opportunities available to you to make your sales pitch heard.
Are you still wondering about what Beethoven never had at his disposal, but you do? Well… the answer is: numerous crowdfunding websites.
So, if you have a brilliant business idea and are high on confidence but, unfortunately, low on cash, make use of online crowdfunding platforms to turn your dreams into reality.
Want to know how you can do this? Read on to find out.
Tips for using crowdfunding for business
Ask and thou shall receive. Within this simple idea lies the essence of crowdfunding. We re use t ask family and sometimes friends for advice, favours and sometimes cash and crowd funding has taken this last idea much further. If you are starting a business or creative project and don’t mind giving something in return to those willing to help you get started then crowdfunding is for you.
So where do you start? Well you have actually already started by finding Startme, the South African crowdfunding portal everyone is talking about. Now all you have to do is get your idea and promotional material in order, post your opportunity or project and wait for the funds to start coming in.
The basics of crowdfunding are simple: get a lot of people to each give you a small amount of money, until like a mountain stream filling with melting snow it becomes a torrent of cash. The trick is melting the first bit of snow and starting the stream. In the mountains, spring comes naturally. In crowdfunding, nothing comes naturally and it is all work and persuasion.
You, as a project creator, have developed a great project that everyone you meet agrees is fantastic. The next big step is listing your project and starting to collect the funds.