Does and don’ts while crowdfunding
Over the past few years, there has been a lot of talking regarding crowdfunding for entrepreneurs who are interested in acquiring and expanding their business. Crowdfunding can be defined as a way and process of funding or raising money for venture or by raising money from the large or small number of people via the internet. The people who benefit and have gained success the most out of it are the charitable organizations. Here are some of the run down on the Do’s and Don’ts of crowd funding:
· Keep your campaigns short. A 30-40 day campaign will be the best for your ideal work and will fulfill your goal.
· Plan your campaign well ahead of time. If you know it will stretch long then plan the timeline as in when will you post the details on Facebook or when will you send out e-mails etc? Plan the timings with press release and finance as well.
· Communicate with people who want to be a part of it by donating some part of their share. And to keep them updated with some special gestures like a thank you note.
· Create a video for your campaign and make sure the video isn’t long so that it may bore away the audience.
· Planning for crowdfunding is not an easy task. Putting up a great show will not fetch you, donors. So a great planning is required in advance before you start your campaign. Planning a crowdfunding is exactly like planning a great mega event.
· Keep your supporters in the dark: Being transparent with your work will fetch you more trust and loyalty of your supporters. Informing them at every level where their money is being used is the best way to keep your donors.
· Release your ideas unprotected: Today’s era has everything has copyrighted. So it is better to keep your ideas up to you before you plan to get it updated or implemented.
· Worry if you haven’t met your goal yet: When it comes to crowdfunding a lot of things gets wandering in your head and it’s the most crucial part of the campaigning and the worst crucial part Is the first week and the last week where your hard work starts paying off.
So these points clearly state the dos and don’ts of crowd funding. It is believed that crowd funding is the ideal future for start-ups and small-scale projects. The plus point with this campaign is that anyone can be a part of it just by lending a hand of support because one broadens the base for investment support for the other.