Crowd funding: 10 tips for making it work
Want to set up a business or start a campaign but haven't got the money? Or maybe you're an artist desperate to put on an exhibition but you can't find the funds. Whatever your project or passion, there is an answer, and it's called....crowd funding!
Crowd funding, or crowd sourcing as it's also known, is a way of raising funds from strangers, fans and friends for whatever it is that you want to do. It was originally used when a band was asked to tour by its fans but didn't have the money. The fans got together and raised the money needed, meaning they got to see their favourite band perform live.
Unlike normal investments, people who invest in crowd funding don't get a financial return. They normally donate because they really like the idea and in return they get a range of perks, which can be anything from a small gift to the chance to be part of the business somehow.
Crowd funding is getting really popular at the moment and we can see why. It's easy to upload your idea in the morning and already have investments by the evening.
But as anyone who has raised money for charity before will know, getting funds isn't always easy. That's why we spoke to Danae Ringelmann, co-founder of Indiegogo
. It's the world's largest crowd funding platform so we thought she'd know a thing or two.
She's given us some quick, simple and effective crowd funding tips that will make a real difference to your campaign.