ll archives: Crowdfunding 101
Whether you’re a lady in the beginning phase of launching your business, or have been it at for some time, you most likely have something in common – funding. Let’s face it, running a business is not cheap. Even if your overhead is low, there are still resources that you need in order to successfully launch your business and continue to run it. And, since not all of us are lucky enough to have an endless stack of trust fund cash, we’re left to find other ways to fund our budding businesses.
There are oodles of resources and tips and tricks for huslin’ up cash, but today I want to focus on crowdfunding. Unless you’ve been under a rock for the last year or so, you probably have heard of, and maybe even tried, crowdfunding. Thank you, Baby Jesus, for Title III of the JOBS Act that opened the gates of cash from the general population. I mean, seriously, this revolutionized the way start-ups, charities and small businesses receive capital. The fact is, small businesses fuel the economy and the average person loves having the opportunity to support the start-ups they believe in. But with so many options out there, where do you start and which one is right for you?
Kickstarter is the largest crowdfunding option available. With categories from arts to photography to theater, this platform is a community of supporters working together to bring creative arts projects to life. It utilizes an all-or-nothing model--you set a goal and either raise the full amount or you get nothing.
Indiegogo is not exclusive to the arts and tech industries, opening up their model to any type of business venture. Like Kickstarter, it has an all-or-nothing model, but it also includes a keep-what-you-earn model – at a higher fee-of course.
Do you have a 501(c)(3) registered nonprofit? Causes may be right for you. All donor contributions are tax deductions (cha-ching!) and targeted at people that truly want to make a difference.
Razoo is also a crowdfunding option for philanthropic ventures, however, it is not exclusive to 501(c)(3) registered organizations. It is also uses a keep-what-you-earn model and boasts low fees.
Go Fund Me
Go Fund Me is the largest crowdfunding site on the interwebs. With no deadlines, goal requirements, penalties for missing goals and a keep-what-you-earn model, it has helped raise more than $530 million for businesses, creative arts, individuals, faith-based organizations, and much more.
If you’re in the market for funding for your business or organization, crowdfunding may be an option for you. The resources are endless, so make sure you do your research and find the option that is the best fit for you.
Have you tried crowdfunding? Are there other sites out there that you would like to share and recommend to your fellow ladypreneurs? Let us know in the comments below. We are always looking for the next best thing to share with the community!