Crowdfund better: reduce project risks
How can creators/ startups minimise risks and be better positioned to raise funds
If you were online in 2013, chances are, you would have either come across an amazing idea/ project raising funds on crowdfunding platforms like kickstarter/ indiegogo OR you would have at least heard of this phenomenon called crowdfunding.
Crowdfunding disrupted fund raising in 2013. Numbers are massive. Trends clearly show the crowd funding market gaining further ground in 2014.
Risks and Raising Funds
Q: if you were to give your money to someone who came to you with an interesting idea, will you find it better, if he/ she:
1. actually listed down potential obstacles/ risks
2. got people involved to overcome the obstacles/ risks
Less risk = Better chances of raising funds
If the answer to the above is YES, you’d find reading this post further of immense value!
Minimising risk/ Overcoming obstacles
There’s a large section of the crowd (the informed amateurs/ experts) who are willing to share their expertise and networks, to make amazing things happen!
Obviously they must discover your project/ startup obstacles, for them to help you.
While projects get discovered on crowdfunding sites, they miss the obstacles, which can be detrimental at a later stage in the project.
Leverage the wisdom of crowds to overcome obstacles in your startup/ project, build a tribe of global collaborators who help you and as you close your obstacles, you are better prepared to raise funds.
2014 should really be the year, when project creators/ startups focus on reducing risk, consequently raising funds faster and with more confidence.
