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Is Crowdfunding Right for You?

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Crowdfunding is a popular and increasingly accessible way to put your prospective product or business in front of millions of people. And, thanks to the visibility of massive success stories, there's a public perception that most crowdfunding campaigns end up being successful.

Unfortunately, it's not true: The reality is, less than a third of all crowdfunding campaigns end up reaching their financial goals. Why? Some campaigns aren’t right for crowdfunding. Some aren’t properly planned. Some aren’t properly supported.

So...Is Crowdfunding Right for You?

Do you have any comments or answers that you’d love to share with us? Then please do by using the comment box below.  Remember that your comments and answers are highly welcomed and appreciated.

asked Oct 18, 2016 in Mentorship/Training by ebest IBO Specialist (80,610 points)

1 Answer

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Hey Anne, at one point I thought crowdfunding was an easy way out that many up coming entrepreneur started out who had not financial backing or capital to kick start their intended project. As such, they would then turn to crowd funding as a means to accumulate the needed funds. Over the years I have even seen many movie makers/producer for example Spike Lee who have done independent films/movies which were also successful through the crowd funding.

Can you point me to a source online that can verify the claim of failure via the use of crowdfunding?
answered Oct 18, 2016 by garywelsh IBO Specialist (72,490 points)


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