What is Crowdfunding?
What is Crowdfunding?
Crowdfunding is an increasingly common way to either donate or raise funds via various internet platforms.
Whether sourcing funds for a personal venture or starting a campaign as a philanthropic endeavor, crowdfunding has been proven to be a great way to raise capital.
- Personal Ventures – The opportunity for personal ventures are limitless and can include a wide range of goals. From the inventor who wants to finance his latest and greatest prototype to the newly engaged couple that would like to book a destination wedding to share their day with family and friends living overseas that are unable to travel.
- Charity and Community Contributions – For philanthropist groups and the like, crowdfunding is an amazing tool to promote the welfare of others. The right system can be doubly impactful, generating funds for a particular cause, but also by raising awareness of a particular campaign.
What Types of Crowdfunding Systems are There?
Crowdfunding systems are all propriety in nature – meaning each has its own unique platform. Many are even tailored to different niches – entrepreneurs, charities, small and large funding projects, for example. Many are even industry or cause-specific.
Some systems allow fund seekers to set a goal amount, but the platform adds a caveat that if that goal is not reached by a certain time frame, in which at that time none of the funds are paid out.
Another type of system allows the fund seeker to layout rewards for donation levels – the bigger the donation, the bigger the reward for the giver.
One innovative example of a crowdfunding system is 50/50 Crowdfunding – this platform’s approach is to reward both givers and receivers.
Who is the Founder of 50/50 Crowdfunding?
I am an accomplished entrepreneur with almost two decades of experience in assisting people to become their own success stories using the internet as their medium, lest resulting in me, being the founder of 50/50 crowdfunding.
My passion for helping people resonates in everything that I do – from the ease and simplicity of my crowdfunding platform to the sage and altruistic advice that I offer readily on both my business and social media profiles.
How Much Does it Cost to Start a Crowdfunding Webpage?
Depending on the platform, there are several different costs that can be incurred by both givers and receivers – even very simple items like sign up fees and payment processing fees. Sadly, the general public is misinformed about the cost of starting a campaign and it is a widespread belief that if a crowdfunding platform costs money then it must be a scam.
In reality, the cost to start a crowdfunding webpage is based on the system that is chosen.
What Type of Crowdfunding System Should a Person Choose?
As mentioned above, there are many different types of crowdfunding platforms but common sense would dictate that one would evaluate the system based on what it can offer and how it relates to ones goals. How is money generated? Does the platform offer a guarantee policy? Is funding limited to certain varieties or genres? How simple is the process to sign up? Who is the founder of the crowdfunding platform – are they experienced and successful?
An increasingly common way to generate or provide funds to a global community, crowdfunding has the potential to do a lot of good on both an individual and societal level.