Money come money go

Apart from banks, crowdfunding platforms like Gofundme, Kickstarter, FundRazr, Slated, Experiment and VentureCrowd are options that provide financial help to individuals, charities and start-up business owners worldwide.

Crowdfunding for individuals:

When doing online fundraising, setting up a page is pretty effortless. You answer some questions, write a few sentences, add a photo or video, and explain your purpose. Since you can edit your fundraising page later, it does not have to be the final version. Normally you can keep all donations regardless of your goal (your goal is not fixed, feel free to change it).

Sharing on social networks is vital. Where are your donors? Facebook, Instagram or any social media posts are the way to connect to potential donors locally and globally(Do not forget Medium! The statistics tool tells you a lot ! ). Try to impress your followers and beyond. Find out how appealing your story is. It is similar to marketing your story as a product, even if you are not directly “selling” anything to people. If you feel very uncomfortable asking for money from someone face to face, do it on the internet with ease. No Man Is an Island. Do not be sorry about seeking help from other people but to develop your personal skills.

On the other hand, if you are interested in helping people in need, you can show your kindness. A small amount of money can make the world a better place. The payment process is as easy as online shopping, but it enriches your spirit.

Crowdfunding for business owners:

You should prepare reward-based options(your products or services ) in addition to the donations to raise capital on the platform usually. This kind of crowdfunding often applies an all-or-nothing fundraising model, which means you can not get your fund if you do not meet your goal. Apparently, it is necessary to make full preparations before you start, and you must set a realistic goal, or it will be no more than a waste of time and energy. A business plan is essential to convince your potential investors, explain how you will manage and use the money, as well as what are the benefits for consumers. In the meantime, your investors are also your first customers.

From the other aspect, this is your opportunity if you are willing to invest in start-up companies, properties or projects. There are a number of innovative ideas to support. Without investors like you, they will not be possible. But you may prepare more money to join this kind of crowdfunding as you must exceed the “Minimum Investment”. But investing in companies is seen as a game only wealthy people can afford conventionally. The capital you need to join is still more budget-friendly than ever commonly. Although new prototypes seem fun and modern, finished products are not exactly what you want somewhile. Therefore, you tend to carry higher risks than in traditional projects.

After your fundraising(some platforms allow you to withdraw donations automatically and regularly during the process), you must pay fees before the withdraw of money,

There are 2 main types of crowdfunding platform fees:

Platform Fee: This is the cost associated with using the platform; generally taken as a percentage of the money raised.

Payment Processing Fee: This is what you pay the credit card payment processor to securely process and complete credit card transactions. The fee is typically charged per transaction.

I’m running fundraising on Gofundme myself currently. In terms of the performance of the platform, I feel rather smooth so far. It offers me inspirations to write my new story and read relevant content from different sources.