Crowdsourcing king Kickstarter.com might not be the best bet for aspiring entrepreneurs to raise funds.
You’ve got a great, unique idea for a product and know that somewhere, there is a need. You must raise money quickly for surgery bills insurance does not cover. Maybe you lack the cash required to get that one-of-a-kind film into production.
Ordinary folks and entrepreneurs alike are flocking to crowdfunding sites to try and raise money and generate the interest that will bring their projects to life. With hard work, ingenuity, and help from crowdsourcing companies, people are donating – or not — to help decide which projects come to fruition.
All crowdfunding sites operate on a similar model. A person/group submits a project idea, complete with a written description, funding needed, deadline for donations, and pictures or a video. If accepted, they create a project webpage that is listed on the crowdfunding site. By being a part of the site’s integrated social media network, the product creator also gets back-end support. Additionally, they receive not only money, but interest, word-of-mouth advertising, and even technical assistance from their backers.