How Crowdfunding Works: Made Simpler

What is crowdfunding?

Crowdfunding is the process of getting a large number of people to fund your requirements. With the advent of the internet, crowdfunding has never been easier before in India. True, the gap between the rich and the poor is increasing each day. But crowdfunding is an efficient way to counter that. Patrons can donate as per their convenience for the fundraisers they like and benefit the needy in the process.

Types of crowdfunding:

  • Donation-based: This is the most common type of crowdfunding and is based on the charity model.
  • Investment-based: This is where the investors put in money expecting some stake in the project, often in the form of shares. Such fundraisers demand wise investors.
  • Reward-based: The donor usually gets an immediate reward for his contribution.
  • Loan-based: Again, this calls for careful inspection. In such investments, the donor is expected to return the money, with or without interest, after a fixed period of time.

Wise words:

Here are some things you need to keep in mind before starting your fundraiser.

  • Plan in advance. Try to get an estimate of the amount your project would need. Don’t put up an amount that does not match your requirements. Categorise. Plan exactly how you would be spending the money, and what you would do in case of shortages.
  • Reign in your expectations. It is usually difficult to have a prior estimate in case of medical emergencies. But if you are raising funds for your debut music album, have an honest evaluation of your talents. You may be already planning your concert at Madison Square. And you would not be the only one.
  • Be convincing. Because that is the only thing that is going to get you funds.

How to get started with fundraising:

Once you have armed yourself with these, fundraising is a cakewalk. Crowdfunding India is here to help you with the best platforms in India to get your project funded.

  1. Start your fundraiser.

Invest a lot of time and attention to the headline. Because that it what will drive in potential donors. Write a story that will help convince people. Add relevant pictures and videos wherever necessary. Remember that the key to fundraising lies in striking a chord with the patrons.

  1. Put it out.

The next step is reaching out to as many people as possible. In addition to sharing it on all your social media accounts, feel free to create groups on more stable platforms like Whatsapp and email. Ask your friends to share the message as widely as possible.

  1. Raise your money.

A common mistake people make in fundraising is not having enough payment options. Keep as many as possible, and do not forget to include international transfer options. Enable Quick Fund Transfer.

ImpactGuru has fast emerged to be among the leading fundraising platforms in India, and its medical fundraising success is indeed commendable.  With ImpactGuru, you can start a fundraiser in just 5 minutes. Not only that, it has the lowest platform fees, a 24*7 fundraising support, is fully mobile responsive and ensures quick money movement. So why wait? Just visit their website and get going.

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