Many individuals and organizations are now turning to crowdfunding platforms to raise funds for a wide variety of causes and entrepreneurial ideas. There can be a significant upside for using these platforms and tools with different pros and cons associated with each. Crowdfunding serves to not only raise money, but build awareness of your cause or project with individuals who might not otherwise become aware of your efforts. It is an easy, low cost and low risk method for raising funds that can generate a lot of excitement and buzz. However, it can be a frustrating experience as you might have a great idea, but simply aren’t able to generate interest and funding.
Four of the sites are included below, but there are many more. Please comment and share your recommendations for other sites.
In alpha order:
GoFundMe – This site is frequently used for personal charitable projects that might save the home of a loved one, pay for a funeral, or provide medical care for an ill child.
Indiegogo – I was involved in efforts to raise funds for The Artery through this site and found it to be very user-friendly. The option of keeping some of the funds raised if the goal is not met (with a higher administrative cost) is appealing.