We all love to dream and feel passionate about our ideas, but most of us struggle with the execution.

How does crowdfunding work?

How does Crowdfunding Work?Meet Bob, Shilpa, Paul and Laura, they all have great ideas. Bob is a software developer, he has built a software which uses a smartphone to check a car’s health. Shilpa is a fashion designer, she wants to start her own business. Paul runs a charity Institute for impoverished children in Africa, he wants to expand to more countries. Laura is a housewife, she wants to start a music school.

There are many others like Bob, Shilpa, Paul and Laura, who have great ideas they want to execute.

What do they need? They need money!

Also, wouldn’t it be great if they got early feedback from people? They could find out whether their ideas or products are really exciting. What do they do, use bank loans or credit cards? But they have to pay that money back with interest. They could ask for voluntary donations but not many people feel comfortable asking for charity. They could go to angel investors or venture capitalists, but would lose control of their product at a very early stage.

What do they do then?

Well, there’s been something waiting just around the corner for the last decade and in the last few years, it has raised more than five billion dollars.

It’s generating more interest every day with budding entrepreneurs and small business owners who want to take it to the next level.

It’s called crowdfunding.

Where crowds come to support you in return for some unique rewards and experiences. Through this you generate the fund and also get the early buyers who believe in your product and would wait eagerly for its launch.

How does crowdfunding work? A closer look.

How does Crowdfunding Work

Look at Emma, she is a teacher, she’s always had a great inclination about fashion design, but never had the chance to pursue it professionally. She would like to support Shilpa, because she’s ready to share some of her exclusive designs with Emma and has also invited her to visit her studio to share suggestions. Like Emma there are many others whom Chopin knows personally or who might see her campaign online and want to support it in exchange for some unique rewards, like custom-made designer shirts or being able to name a product Shilpa is launching. They all fund Shilpa’s campaign, someone gives $10 someone else gives $20.

She provides different kinds of rewards for different donations. She keeps everyone updated about its progress. Once she gets the money she had asked for, she starts the clothing factory and gives the rewards to everyone just as she had promised through her campaign. She has already built a fan base who has sponsored her and might buy your products in the future as well.

How does crowdfunding work on the Crowdfunding Bum platform?

How does Crowdfunding Work? Crowdfunding Bum is the platform where people like Shilpa, Bob, Paul and Laura and many more can come and run campaigns for their projects. Crowdfunding Bum helps them to build the campaign, run it, promotes it and enable the creators to collaborate with like-minded people.

Crowdfunding Bum is an intuitive platform. We have built it with lots of passion and tried to make it as user-friendly as possible, unlike other crowdfunding websites where you have to be an expert to build, run and promote your campaign and do the market research to reach out to your particular client base.

How does Crowdfunding Work? Crowdfunding Bum is here to help you at each step. By the way, Crowdfunding Bum is the first and only self-funding crowdfunding platform.

It offers seed based crowdfunding and keeps your personal data safe.  Furthermore, the utilization of industry-leading payment gateway Stripe is 100% PCI compliant.

Crowdfunding Bum, collaborate and get rewarded.

I hope that I have adequately explained and answered the question of how does crowdfunding work.

Final thoughts.

We hope you stick around a while to find out more about all that Crowdfunding Bum has to offer. You will find ample reasons to choose us as your funding source.

How does Crowdfunding Work? Fresh out of excuses? Click the link below.

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or see our frequently asked questions page

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