3:12 pm - Tuesday October 24, 2017

The ‘fundmania’: Crowdfunding

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The ‘fundmania’: Crowdfunding

Ideas- check

Business plan- check

Funding: ummm….confused!

Young minds with all systems go often get confused opting the best option for capitalization of their startup. With abounding financial sources, one can get muddled up while going for the best. Rather than doing akkadbakkad, one must look for the pros and cons in accordance with his business line. One such funding top-drawer, Crowdfunding is the new trend taking over other sources of funding because of:

It’s like taking a loan, pre-order, contribution or investments from more than one person at the same time and at a common platform.

HOW IT WORKS

A crowdfuding platform is a home for a detailed description of an entrepreneur’s business. He will mention the goals of his business, plans for making a profit, how much funding he needs and for what reasons, etc. and then consumers can read about the business and give money if they like the idea. Those giving money will make online pledges with the promise of pre-buying the product or giving a donation. Anyone can contribute money toward helping a business that they really believe in. Crowdfunding cuts out go-between professional investors and brokers.

Consider this also:

Crowdfunding is a competitive place to earn funding, so your business must be sui generis enough to grab the pocket of the consumers with description and images. Dedication, time, right crowdfunding platform and patience are the necessary ingredients to be the master chef among the crowd of entrepreneurs seeking crowdfunding.

Top Crowdfunding Platforms in India:

Kickstarter, Indiegogo, Wishberry, Catapooolt, FuelADream, Bitgivingand many othershave a host of offerings that cater to all kinds of goals.

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