The idea of getting any sort of money for any sort of project a few years ago was difficult to say the least. Most of the time it was impossible. Banks and other lending institutions would not look at you unless you had strong credit rating and other money to back you up. You had to be a good risk.
It is still difficult today, but with the advent of Crowdfunding raising money for your dream, your special idea, a need to help others, etc., well has become possible for practically anyone to do this.
So what exactly is Crowdfunding then?
In simple terms Crowdfunding is the raising of funds for your project, by using small donations from a lot of people. This can be for basically anything, yes any idea and any project you can dream up. While most Crowdfunding attempts fail, one third of crowdfunding projects do actually work to some extent and the money needed is yes, raised.
Like anything this will depend of several factors. It is sales and you need the right pitch. You need a solid business plan or at least an idea on how you are going to use the money. If you get the money you wanted, it will be necessary to keep in contact with the people that helped you. You will need to keep them in the picture. After-all it is their money you are using, to make your dream a reality.
So yes it is possible and for the right reasons basically anyone can get the funds they need to start out on their idea or dream.
It can be money raised to help people, help projects that are non-profit and it can also be to start up a business or to create something entirely new. Basically Crowdfunding can be for anything.
You do not have to be a charity for instance, or someone trying to save the world. Crowdfunding can be done for the quest to make money and put money in your pocket.
Some Crowdfunding groups ask that you give something back to the people that helped you, your investors that got you going, or got that idea or dream started for you. So some crowdfunding works on some form of reward program.
Some crowdfunding systems work on an all or nothing basis. That is you set your goal and then reaching your goal, you get all the money you set out to get. Not reaching your goal, means you get nothing. Going over your goal limit, means you have a bonus of that extra money. Most of the Crowdfunding systems that use a set goal also have a time limit to raise that money in.
Other crowdfunding systems work on the idea that you get everything you ask for, even if it is well below what you wanted. Sometimes you will reach your goal and sometimes you will not.
There are some projects out there that far exceeded what they asked for. They might have set a goal of say $10,000 and in actuality they received ten times or more of the amount asked for.
It is all possible and yes will depend on what you're asking people to help you with. It will also depend on whether or not your audience, the givers, feel about your project. Do they like the idea.
So then crowdfunding is run by organizations, that take a percentage of what you earn. There are many different systems out there ranging anywhere from 3 to 8 percent and then taking a fixed amount per transaction (.30 cents per etc) and so on..
Got an idea?
Why not try Crowdfunding.
Ps: I have a couple of ideas... but more on that later...