Why Crowdfunding Might Be the Best Option for You
If you are looking to launch a new product or open up an online shop, crowdfunding might be the best option for you to get started! Not sure what crowdfunding is? It is funding a project by raising money through a number of people usually through the internet, but can also be sourced from other places. Check out some reasons why crowdfunding is the way to go.
You can validate your business idea before you waste anything. Through crowdfunding, you are able to test out your idea to see if it is viable or not. If no one funds it or buys into the idea, you probably know that it is not a good one after all. If you are getting a ton of backers, you know you have a money maker on your hands.
You can communicate directly with your consumers. Waiting for an investor to come along can be a long and confusing process. You may come up against a lot of red tape and closed doors. Skip all of that and get your funding straight from your customers. No need to wait for an opinion from one investor when you can hear back from hundreds of customers who will actually be purchasing what you are selling.
You will get ideas and feedback by going the crowdfunding route. This will give you a direct platform to chatting with potential consumers. Talk with them about what they like and don’t like about your offering. Maybe see what additional perks you can incorporate or variations of your product that you can present. Ask them what they would like to see.
You can build awareness. Nothing better than exposure, right? Crowdfunding is a great excuse to share your idea with the masses to engage with your audience and add backers to your idea. Share on social media or with a friend. Make your idea known!
You can move forward risk free. If you don’t meet your goal, you don’t have to deal with any debt or wasted products. Consider extending your crowdfunding deadline or connect with others to help you spread the word to reach your goal. At the end of the day what you may lose is a little bit of time, but that is way better than going into a huge amount of debt.
You can also crowdfund on this amazing platform, iFundWomen. Check them out if you’re looking to fund your big idea.
What idea do you have stirring up that you could crowdfund? Start thinking today and implement a strategy to make it happen!
At Mavenly + Co., we focus on helping women work for themselves. From free resources and podcasts to private coaching and events, our team is here to help you take your career + business to the next level. Whether you are a freelancer, side hustler, or full-time business owner, we want to help you succeed in your work. Want to learn more? Click here!