The definition if crowdfunding is the practice that allows money to be raised due to a collective effort. Numerous individuals will be able to back projects that they see as interesting or worthwhile. Robert Jain will agree, though, that crowdfunding isn't without its challenges. It can be difficult to raise money, or even create interest in the first place. By following these do's and don'ts, crowdfunding won't be nearly as challenging as it would have been.
DO know what you're raising money for. In order to successfully crowdfund, you must know what you're doing it for. There are many goals associated with this endeavor, according to the likes of Bob Jain, and some are easier to reach than others. Everything from inventions to games is covered under this umbrella. If you don't have an idea of what you're trying to accomplish, don't expect to see results.
DON'T simply speak about your project. You must be able to offer visuals so that the general public has a better understanding of what you're working toward. For example, if you're developing a game, show the progress. Offer rough sketches or even demo shots so that people have a general understanding of what the final product will look like. The more visual evidence you provide, the better your crowdfunding efforts will become.
DO know that marketing goes a long way. Depending on what your crowdfunding project entails, some channels may be more useful to you than others. For example, if your project has more of a local focus, you may get use out of traditional methods. On a national scale, though, social media is where your attention should be focused. With networking platforms like Facebook, Instagram and LinkedIn at your disposal, marketing will be a nonissue.
DON'T forget to exercise patience. One of the most notable characteristics of any crowdfunding effort is that it takes time to build interest. What this means is that if you expect to hit your goal overnight, you'll be disappointed. Instead, allow the project to run its course, obtaining funds and support in the process. By being patient, provided your idea is interesting enough to support, your crowdfunding efforts will be nothing short of remarkable.
DO know what you're raising money for. In order to successfully crowdfund, you must know what you're doing it for. There are many goals associated with this endeavor, according to the likes of Bob Jain, and some are easier to reach than others. Everything from inventions to games is covered under this umbrella. If you don't have an idea of what you're trying to accomplish, don't expect to see results.
DON'T simply speak about your project. You must be able to offer visuals so that the general public has a better understanding of what you're working toward. For example, if you're developing a game, show the progress. Offer rough sketches or even demo shots so that people have a general understanding of what the final product will look like. The more visual evidence you provide, the better your crowdfunding efforts will become.
DO know that marketing goes a long way. Depending on what your crowdfunding project entails, some channels may be more useful to you than others. For example, if your project has more of a local focus, you may get use out of traditional methods. On a national scale, though, social media is where your attention should be focused. With networking platforms like Facebook, Instagram and LinkedIn at your disposal, marketing will be a nonissue.
DON'T forget to exercise patience. One of the most notable characteristics of any crowdfunding effort is that it takes time to build interest. What this means is that if you expect to hit your goal overnight, you'll be disappointed. Instead, allow the project to run its course, obtaining funds and support in the process. By being patient, provided your idea is interesting enough to support, your crowdfunding efforts will be nothing short of remarkable.
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If you'd like additional details about finance in general, consult Bobby Jain today.. This article, Crowdfunding Do's & Don'ts Offered By Robert Jain is released under a creative commons attribution license.
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