Crowdfunding Basics and How it Helps Entrepreneurs

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crowdfunding basics

Photo Courtesy of Rocio Lara

6 Jun

Crowdfunding Basics and How it Helps Entrepreneurs

Our honorable leader, Toivo Halvorsen, has built Dharma Home Suites from the ground up. It takes a lot of hard work and dedication to accomplish such a business feat. In can be nearly impossible to accomplish such a feat if you have no investors or backers. However, problems are only the absence of ideas and we wish to share with you the potential solution of crowdfunding and how it can help you create a business!

What is Crowdfunding?

Crowdfunding is how everyday people are becoming entrepreneurs! Crowdfunding is the new business model. With billions of people in the world with great ideas and only a few willing investors out there, everyday inventors are fed up with the antiquated ways of the past. This is the 21st century and to spice things up a bit, crowdfunding sites allow many people to donate small portions to an idea, concept, or invention that they want to see created.

Crowdfunding doesn’t only apply to new inventions, but also travel plans or even big life steps like going to college and having a baby. That’s the beauty of it! Simply put, a person seeking crowdfunding would visit one of the sites below, and then set up a page with all the information regarding the planned project. After that, you just share it with all your friends, family, or potential business associates and go from there.

What are Some Crowdfunding Websites?

  1. GoFundMe: It has raised over 2 billion dollars in individual contributions. The platform allows for personal fundraisers and charity fundraisers. Processing fees are fairly low ranging from 5% to 10%. Some additional benefits to this platform include: no deadlines or goal requirements and no penalties for missing your goal!
  1. IndieGoGo: IndieGoGo has raised 800$ million dollars. This platform is better equipped with tools to help the business professional looking to get into the market. The platform has tools for funding choices, marketing & promotion, integrated analytics, mobile management, and much more!
  1. KickStarter: KickStarter also has a specific targeted audience like GoFundMe and IndieGoGo. KickStarter is the best platform of choice if you are in any sort of creative field, be it artist, musician, writer, etc. You can tell this platform is especially popular by the community’s pledge of 2.3 billion dollars total. Their goal is to simply bring more creativity into the world.

Are There Examples of Successful Crowdfunding?

  • Oculus Rift: Virtual reality head-mount display
  • FORM1: Affordable 3D printing
  • Prom for students with autism
  • Support for San Bernardino shooting victims
  • Amanda Palmer gets a record deal (highest Kickstarter funded music project ever
  • Nikola Tesla Museum
  • And so much more

Final Words

If you’ve got ideas that need some sort of outlet and support then crowdfunding is the way to go. As entrepreneurs ourselves, we at Dharma Home Suites, wish to contribute to the success of our guests and readers alike. Do what you will with this information, and we wish you the best.

From all of us at Dharma Home Suites, thanks for reading!