What’s over the Horizon for Crowdfunding
Published December 20, 2011 | By Russ Altman
Crowdfunding Continues to Grow
If you’re not very familiar with
searching for funding.Crowdfunding is a comparativelynew method to obtain capital byreceiving small amounts of moneyfrom a relatively large number of people. Crowdfunding typically can be found at online communities andwebsites includingIndieGoGo, Kickstarter andSoKap just to name a
few sites.So if you have a startup or company ready to expand you can use thesites to pitch your business idea or cause for seeking the funding. The
“crowd” is made up of members that have the chance to invest whatever they decide. So essentially, the “crowd” votes with their dollars, thereby
funding the businesses and ideas that they deem as having the mostpotential.There are several uses crowdfunding may have for your business, even if
you’re not seeking financing. The reason being, these type sites serve as
sort of a judging platform on viable ideas, they make it possible to viewnot only new business ideas in action, but just how the crowd actuallyresponds to them.
By being able to check out both
what investors think is, and isn’t
fundable, you can acquire a prettygood idea of, and dial in on whatproducts, services and activemarkets are exhibiting growth
potential as hot future trends. Let’s
look at the rapidly growing marketfor smartphone apps, as one youcould have easily identified by closely examining crowdfunding trends just a few years ago.If your business markets to other businesses (B2B), keeping a watchfuleye on the crowdfunding sites is becoming a great way to find potentialcustomers. Crowdfunding sites provide you an approach to contact topeople who are, or are going to develop into entrepreneurs, and whatbetter time for you to access them, than right at the moment when
they’re beginning or experiencing growth. Of course, bothcircumstances are times when they’re most likely to
need new productsand services, and certainly be more open to making strategic changes tonew vendors.If your company is part of a high-tech industry or other field thatspecializes in working with andaccommodating youngentrepreneurs, crowdfunding sitescan very well be of particular valueto you.
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