Should You Crowdfund Your Business?

by / ⠀Startup Advice / March 27, 2012

A recent article on MSNs Business on Main goes over the idea of crowdfunding to raise money for your company. Crowdfunding is still a relatively new concept but has made a lot of noise in the past year. You may have heard of sites like Kickstarter which started the whole idea and now companies like IndieGoGo and many more have jumped into the mix.

Crowdfunding is the basic idea that you can raise money from anyone without getting a loan or giving up equity. You just have to be creative and come up with some things you can offer everyone who chooses to fund you.

Some examples from the article:

Let’s say you want to fund a sandwich shop. You’d list your business on one of the various crowdfunding sites (see below) and offer to name a sandwich after someone for a month in exchange for, say, $100. Do that 50 times, and you’ve got $5,000.

A filmmaker looking to finance his movie might offer a credit at the end in exchange for an investment of, say, $250.

One woman in need of a new boat hull for a trip around the world promised investors a postcard from each of her many stops, and even that worked.

Learn more about crowdfunding and how people are using it.

This article was brought to you by MSNs Business on Main

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About The Author

Matt Wilson

Matt Wilson is Co-Founder of Under30Experiences, a travel company for young people ages 21-35. He is the original Co-founder of Under30CEO (Acquired 2016). Matt is the Host of the Live Different Podcast and has 50+ Five Star iTunes Ratings on Health, Fitness, Business and Travel. He brings a unique, uncensored approach to his interviews and writing. His work is published on Under30CEO.com, Forbes, Inc. Magazine, Huffington Post, Reuters, and many others. Matt hosts yoga and fitness retreats in his free time and buys all his food from an organic farm in the jungle of Costa Rica where he lives. He is a shareholder of the Green Bay Packers.

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