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HOW TO CROWDFUND YOUR BUSINESS IDEA

 STEP 1: HOW DO YOU KNOW IF YOUR IDEA IS RIGHT FOR CROWDFUNDING?

For a crowdfunding campaign to be successful, you typically need a large number of people to be highly invested in the solution that you’re offering.

A backer is a person funding you. Think of it from their perspective.  They’re buying the product knowing that the earliest they’ll see it is in several months. They have to really want your product.

Alternatively, some crowdfunding campaigns are vessels for donations. Again, there needs to be a lot of desire to support your specific cause.

Here are the most important questions that you need to answer at this stage, that all influence how much a potential backer will desire your product:

·         Does a product like yours already exist?

·         What makes your product unique?

·         Are users of similar products hungry for a better solution?

·         Are there enough hungry users to fund your project?

Truly understanding your target market is the only way to have a high degree of confidence in your answers above.

It’s crucial that you do understand your potential backers because you’ll be tailoring your entire campaign around them.

STEP 2: PLANNING YOUR CROWDFUNDING CAMPAIGN PAGE

TITLE: BE CLEAR, NOT CLEVER

Do not approach your title like you’re writing a blog post.

The only people who will see your title are people who are interested in backing projects in your category.

If you try to be clever with a “clickbait” title, most users will skip over you because they’re not sure what your product or project is actually offering.

To write a good title, keep it very simple. There are 3 components to this:

1.   Your product or project name

2.   What is your product or project in plain terms

3.   What’s unique or attractive about it.

Remember that if you’ve identified that there’s a desire for headphones that look like bunny ears, there’s no need to be clever.

Make sure that anyone with that desire will know that you can fulfill it if they read your title.

However, there are a few things you can do to put your pitch quality at a high enough level to get backers on board:

1.   Be transparent: It’s an unwritten rule for successful crowdfunded projects that the creator should be either in the video, or at least providing a voice over. No one’s going to give money to someone in advance if they don’t even know who the creator is.

2.   Be clear: Just like the title, if someone can’t easily identify the 1-3 most attractive features of your product quickly, they won’t continue watching. You can’t count on people watching long videos, make yours as concise as possible.

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Crowdfunding Digital Platforms

Crowdfunding is the practice of funding to unaffordable persons, social project or public oriented non-profitable venture by raising small to huge amounts of money from a large number of people, typically via the Internet platform / digital payments / through bank transactions. Crowdfunding is a form of crowdsourcing, and alternative financial assistance.

  In     2015, over US$ 34 billion was raised worldwide by crowdfunding.

  Crowdfunding     is expected to reach US$ 1 trillion in 2025 via global crowdfunding     initiatives

Crowdfunding concepts can also be executed through donation, money mail-order, subscriptions, benefit events, and other legalized methods as per the laws of our Government of India and Reserve Bank of India.

Crowdfunding has been used to help / fund a wide range of non-profit projects and medical expenses, community-oriented social projects meticulously, use has been deciding after through scrutiny for funding especially costly medical treatments including cancer treatments travel, help, artistic and creative projects.

 Reward-based crowdfunding and in donation-based crowdfunding, funds are raised for pro-social or pro-environmental purposes.

Donors come together to create an online community around a common cause to help fund services and programs to combat a variety of issues including healthcareand community development. We deal ethically and genuinely on the inputs of the individual’s request.

Motivation for consumer participation stems from the feeling of being at least partly responsible for the success of others people’s initiatives (desire for patronage), striving to be a part of a communal social initiative (desire for social participation), and seeking a payoff from monetary contributions (desire for investment). Additionally, individuals participate in crowdfunding to see new and innovative products before the public. Early access often allows funders to participate more directly in the development of the product. Crowdfunding is also particularly attractive to funders who are family and friends of a creator. It helps to mediate the terms of their financial agreement and manage each group's expectations for the project.

 An individual who takes part in crowdfunding initiatives tends to have several distinct traits: innovative orientation, which stimulates the desire to try new modes of interacting with firms and other consumers; social identification with the content, cause or project selected for funding, which sparks the desire to be a part of the initiative; (monetary) exploitation, which motivates the individual to participate by expecting a payoff. Crowdfunding platforms are motivated to generate income by drawing worthwhile projects and generous funders. These sites also seek widespread public attention for their projects and platform.

Curated crowdfunding platforms serve as "network orchestrators" by curating the offerings that are allowed on the platform. They create the necessary organizational systems and conditions for resource integration among other players to take place. Relational mediators act as an intermediary between supply and demand. They replace traditional intermediaries (such as traditional record companies, venture capitalists). These platforms link new artists, designers, project initiators with committed supporters who believe in the persons behind the projects strongly enough to provide monetary support. Growth engines focus on the strong inclusion of investors. They "disintermediate" by eliminating the activity of a service provider previously involved in the network. The platforms that use crowdfunding to seek stakes from a community of high net-worth private investors and match them directly with project initiators.

 Significant Campaigns:

Crowdfunding through the professional contractors group a

·           Trade body

·           Representing Freelancers

·           Online Sales

·           Retail Stores

·           Consultancy

·           Projects

·           Sales

·           Marketing

·           Entrepreneurships

·           Startup Projects Blogging

·           Journalism

·           Publications

·           Sports

·           Productions

·           Animations

·           TV Show Based Programs

·           Interviews

·           Launch Television and

·           Film Projects

·           Quiz Programmers Conferences

have emerged that combine traditional funding for creative work with branded crowdsourcing.. Massolution's Global Crowdfunding Report expects crowdfunding to become a $300 billion industry by 2025 in many ways, the same consulting firms expect the industry to grow at a compound annual rate of 100 percent over the near term.

 Raising Money For

·         Chronic Illness, Life-Saving Medical Treatments And Surgeries

·         Medical Awareness Campaign And Medical Camps

·         Educations, Downtrodden And Underprivileged

·         Child Development And Women Empowerment

·         Senior Citizens

·         Disabled Persons, Autism Children And Orphans

·         Nonprofit Causes, Assets For Social Trust

·         Natural Calamity And Disaster

·         Medical Awareness Campaign And Medical Camps

·         Social Awareness And India’s National Integrity,Creative Projects And Documentary Films.

·         Helping Economically Weaker Artists

·         Chronic Illness, Life-Saving Medical Treatments And Surgeries

·         Upcoming Entrepreneurs Unite With Brands "Without The Need For A Middle Man.

·         Economically Weaker Daily Wagers To Support Their Kids’ Education

 International Medical Tourism Projects

·       Free Medical Camps ·       Medical Awareness Programmes ·       International Medical Tourism Conferences ·       Social Activities ·       Medical Educational Programmes ·       Medical Seminars / Workshops / CME   To know more about crowdfunding , how to donate and how to start a fundraiser kindly visit:  

http://fisamtrust.org/