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Showing posts with label Crowding funding. Show all posts
Showing posts with label Crowding funding. Show all posts

Crowdfunding, it's a Game Changer


By Carl Weiss
Courtesy of Flickr

Back in the bad-old days, entrepreneurs searching for funding had three choices: 

1. Friends and Family 
2. Banks 
3. Angel and/or Venture Capitalists

For many this meant that starting a business was nearly a mission impossible.  Then in 2007, all that changed when Prosper.com launched the first peer-to-peer lending service in the US.  Since that time a number of other Crowdfunding sites have popped up, including Kickstarter, which in 2012 raised more than $10 million for the Pebble Watch.

Before you decide to quit your day job, understand that not all projects get funded.  Some pitches are flawed, while others are deemed unfundable due to the rules of various Crowdsourcing portals. But for a staggering number of well thought out and executed proposals, the world wide web can your oyster when it comes to jumpstarting a business.  However, as you will soon find out, Crowdfunding comes in a number of different flavors.