Crowd Funding????

[GypsyGoldAu]

Not the best place for this i guess, but has anyone here ever had anything to do with starting a project/business etc by applying to one of the crowd funding sites?

If so, can you share your experience and success if at all and which are recognized as the "better" sites for this?

Are the raised funds based on repayment or are the funds considered as 'donations' or gifts?

I am sick & tired of trying to get 'work' here and want to start my own thing going instead.

Yeah i know....damn dinosaur dun know nuthin... :lol:

*edit* Thread inspired by the recent 'What Do You Do'? thread...*

GGA

 

[Wolfy]

Interesting, worth a try, you wont lose anything. I had a go at the same thing with zero response but i didnt want to promote too much. If you are prepared to really push it then you might fare better.

 

[GypsyGoldAu]

Thanks for responding Wolfy, can you recall which site you tried? I have no idea how it all works, only heard about it through normal commentary, ie; the term 'crowd funding' and never really looked into it until now....

Cheers

 

[nucopia]

Did it for my son to raise funds to send him over seas to train and compete in competitions.
Set a low goal of $5,000.I think we raised about half of that amount. Mostly from friends and people who knew and suported him in the sporting community.
Thing to remember is you have to promote your idea/goals and spread your appeal far and wide to as many people as possible so as to gain exposure to potentual funders/supporters. We did not push very hard with promoting the appeal, we just posted on Fb and let things develop from there via word of mouth. Most crowd funding sights have tools to help you promote and engage with potentual supporters via emails social media etc.
Go fund me is one site you could look at .. Just Remember the sites may collect a % of funds raised as well so shop around for the best deal before committing to any site.

 

[GypsyGoldAu]

Hi nucopia, and thanks for sharing your experience with the added recommendations.

With crowd funding, is it viewed as a lot of individual loans requiring repayment, or do the donaters view the funds as a 'gift'???

I don't do the social media thing at all, so have no understanding of these things....

Cheers

 

[Ryan27]

I have seen a very successful girl do this.
From my observation her secret was she sold her idea brilliantly via YouTube , social media and other sources.
People just don't give their hard earned away unless they see effort or are entertained first.
You will have to present your idea,concept well to get people interested.
If it's a worthy idea and you are fairdinkum I will tip in a couple of bucks. Or even better I will donate some prospecting equipment to be raffled off on the forum to get others involved.
Now entertain me

 

[nucopia]

Hi nucopia, and thanks for sharing your experience with the added recommendations.

With crowd funding, is it viewed as a lot of individual loans requiring repayment, or do the donaters view the funds as a 'gift'???

I don't do the social media thing at all, so have no understanding of these things....

Cheers

In the case of crowd funding for my sons sporting pursuits the donations were gratis gifts.
Not sure how it works with a start up business . But on most crowd funding platforms you have opptions to give people something who donates a specific amount to you.
Example some one donates $100 you give them something in return. I have seen people offer baby sitting, car washing or offers to wear a company logo or promote their business etc
My son gave some donors inexpensive or gifts he received while over seas, like key chains t-shirts and small nick nacks of a touristy nature from places he travelled to for training and comps.

 

[Wolfy]

Its a gift, it uses social media sites to hunt for donors with your own sad story. Mostly charitable type causes, sick children or need to get a disadvantaged kid to an event, that sort of thing.

I should add, the site takes a percentage.

 

[GypsyGoldAu]

Hi all and thanks for responding, info., and offers.

On reflection, perhaps my business/model, and how i wish to operate, are not so suited to this form of obtaining funds.

More traditional & appropriate means will now be researched & pursued (along with any savings i manage) as well as where i will to post my queries.

Just a footnote for clarification to any whom read this,

* This thread was only designed & started in my own interest to understand this method of raising funds, not, and i do mean NOT, meant to be interpreted or presumed to be an attempt of any description in canvassing for ANY funds at this point in time. It is purely for EDUCATIONAL PURPOSES only. My apologies to the Mods if this material contravenes Site Policy in any way and please remove if inappropriate.*

Thank-you once again to those who shared their experience and assisted in educating me.

I will leave this open for now in the event circumstances/strategies change and for those who may have info. not contained within it so far, that will add to my education of online opportunities (NOT scams please, i already have an identification process in hand for that).



GGA

 

[Pegleg]

Hi nucopia, and thanks for sharing your experience with the added recommendations.

With crowd funding, is it viewed as a lot of individual loans requiring repayment, or do the donaters view the funds as a 'gift'???

I don't do the social media thing at all, so have no understanding of these things....

Cheers

Crowed funding is not seen as an investment it's a gift. plenty of people have taken the money an ran before and there's nothing the backers can do about it.
I'm not 100% sure but a lot of the major crowed funding sites used to require a US bank account, international law and large sums of money get tricky.

 

[GypsyGoldAu]

Thanks Pegleg, if that is the case and applies to ALL of these sites, then this is the 'extra' sort of added info. i was alluding to.

GGA