The Highly Misunderstood Part Of Crowdfunding
The most misunderstood part of crowdfunding is funding itself. Before I get into the why, let’s recite the definition of crowdfunding first.
Crowdfunding is a method of raising capital through the collective effort of friends, family, customers, and individual investors.
It is a very clear and concise definition. Crowdfunding is a collective effort from people you know and their circle and so forth. But why do people misinterpret the funding in crowdfunding?
It is because of how the crowdfunding platforms market themselves. If you look into platforms like Kickstarter or Indiegogo, which I completely adore, you will see in their website that X amount of dollars were raised and X amount of projects were successfully funded.
A lot of people tend to misapprehend this information and that’s where people fall for the trap. They think publishing a project in a crowdfunding platform will automagically bring funding to their campaign. And when they fail to raise money, they play the blame game. No sir, you have to work your ass off like every other successful crowdfunding campaign out there.
Let me repeat it again, publishing a campaign in a crowdfunding platform will not bring you free money. Unless you work your ass off to market the campaign, publishing your campaign in Kickstarter or Indiegogo wont help much. The job of a crowdfunding platform is to centralize and monitor online fund raising. Your job as a campaign owner is to raise the funding.
So how do you raise the funding?
Before even starting a campaign, you have to generate some hype around your idea. You tell your friends, co-workers and everybody you can think of about that idea. Create a google sheet where you write down name of your potential donors and on the left of it estimate how much they will donate. You get my point right?
After you publish your campaign, you email, message friends in your social media. Basically, you have to whore the fuck out. Why am I saying this???
Because I whore`d the fuck out to make Manjushree Trail successful.
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