Crowdfunding is one way to obtain funding in organizing an activity or opening a business. Funds obtained from crowdfunding are not only from one investor but from several investors. Funding with crowdfunding will increasingly attract the attention of a platform if it moves in a field that is useful for many people, including the country. Investors through the platform will also not object to funding large amounts. That way, the field will quickly develop. Apart from that, we recommend you to check out the 50/50 Crowdfunding review.
Besides having an impact on many people, are there other tips to make the crowdfunding process easier? Here are some tips that you may need:
1. Creating Attractive Products and Benefits
How are investors willing to fund a business if the product is not received by many people at all? The effort to create these products is just as futile. For that, do research first. Know what items the community really needs. After that, do the best production process for the best results too. If a product that is created is good and easily accepted by the public, it’s time for you to expand your business to several regions.
2. Estimate Estimated Funds Needed
After successfully producing a product, take notes regarding the funds needed to produce the product. Estimated funds must be accounted for.
In addition to entering total production costs, don’t forget to enter unexpected cost points. If at any time an unwanted event occurs, you can use unexpected funds to finance unexpected expenses. Estimated unexpected costs are usually 10% of the total production costs. Allocate all funds based on their posts. If the funds provided through residual crowdfunding, you can return the funds to the platform.
3. Getting Feedback from the First Fund Giver
The product you produce is not given to the general public, but also to the first funder. It is better if you give the product that is produced to the platform then ask for the response to the product. The feedback you get from the first funder is very useful. You can make the feedback as a testimony that the funder is satisfied with the product produced. Thus, you will be easier if you want to submit a request for funds to other platforms.