Crowdfunding is no longer that strange and abstract concept that people used to catch a drift of. A layman who has the barest knowledge of finance will definitely know something, however little about crowdfunding.
For most persons, crowdfunding is a means of raising money from investors or a select crowd of persons. This money raised is mostly for use of execution of projects or for start-ups to take flight. Unfortunately, this surface knowledge is what most people know about crowdfunding.
This is the sole reason why we met with Ideazon. This organization has deep insights as to what crowdfunding is and is more than glad to share with us the best ideas for crowdfunding in 2021.
There is absolutely no need to fret over the changes or harm done by the pandemic to the crowdfunding sector. The best alternative now is to make do with the current situation and maneuver it into a favorable result.
In our interview with Ideazon, their representatives shared with us the best crowdfunding ideas of 2021.
What is Crowdfunding and when is the best time for one to crowdfund?
Put succinctly, crowdfunding is the means of gathering funds or raising money for a project, usually by investors and entrepreneurs. It is usually raised from a relatively large number of persons.
From experience, the best time to have either prize-based or equity-based crowdfund is when you have substantially built a solid network and have had time to organize a crowdfunding campaign.
What do you believe is the foremost step to take in crowdfunding?
To be honest, there is no step that takes precedence over the other, but we think in every step, you should always carry out due diligence. This is because they are numerous platforms for crowdfunding, and these platforms all have their distinct terms and conditions including payment cuts they require.
Hence, it is advisable to thoroughly research these things before deciding which crowdfunding platform to engage in. After that, you may decide to embark on a campaign.
How important is the need to have Crowdfunding Campaigns?
Having a crowdfunding campaign is no doubt quite important. As such, it requires great preparation before launching. It could be in form of a live event or an auction or even a gala etc.
You would have to take a series of steps before the campaign launch, such as having a one-on-one session with people that have past experiences in campaign launch. Also, getting into a crowdfunding group to get important tips needed for you is advised.
What other ideas do you think are suitable for crowdfunding in 2021?
For starters, you need to involve your supporters in the campaign by offering their services at an auction, that is, the highest bidder wins. This way undoubtedly helps to empower those supporting you while also serving as a cheap means of rewarding them.
Moving forward, what are the plans you advise people to take in pooling in resources through crowdfunding?
Well, there are quite a lot. But to mention a few, have your staff make a commitment towards executing the challenges requested by your donors. Also, make a video to encourage support from the public or investors.