Crowdfunding 101: The Basics

U Posted by brent rovner
\ January 17, 2014
z Blog

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So you’ve decided to start a business and need some financial help to keep things going and get the ball rolling. You might be pondering what financing options you have – maybe a bank loan, ask family for some cash or to use the rest of the money in your personal savings account. Those three options can be a little challenging for numerous reasons, but what if you could utilize a popular crowdfunding website that could get you the financial resources you need?

Crowdfunding has helped over a million startups raise billions of dollars that gives them the capital they need to fund their new business. As an entrepreneur, it can be a little challenging to get all your eggs in a basket, but with help from Crowdfunding, you can possible achieve your goals faster and quicker than doing it alone. Crowdfunding campaigns put you in the driver’s seat by letting you tell your business story and having it reach hundreds of potential backers who will help support your startup. ‘With the right platform, you can tell your business’s story, produce a quick video, set up some enticing rewards and benefit from having everything in one centralized location where potential backers can find you.’

One of the benefits of crowdsourcing is free advice and brainstorming from backers. If they are interested, they will pose questions, do some research and try to figure out what other things could work for your startup. You have the ability to seize any opportunity for customer feedback and consider it in your business plan. It’s not uncommon for a startup to ‘pivot’ and all that means is a reorganization of your business plan which will benefit you and your potential customers.

Crowdfunding through Fundable has had numerous success stories from business owners just like you. Take for example Atlas, they were able to reach their $1 million goal and receive over 625,000 pre-orders for their product. They tapped into the booming market of fitness activity monitors where consumers can wear a device that is designed to track and identify different exercises. They developed technology that can figure out what exercise a user is engaging in and tracks that information with no user input. Current activity trackers require manual input for specific exercises, and Atlas eliminates that step.

Just from that one example, you can get the understanding of how powerful Crowdfunding can be and how it can be an extremely useful tool for your startup. All it takes is three easy steps to begin your way at raising capital, so get started today!

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