Published: 2016-12-10   Views: 264
Author: jericaqueen
Published in: Entrepreneurs
How Crowd Funding Can Save Your Life?

How Crowd Funding can save your life?

There are many times you come across in life when you have a brilliant idea but you don’t have the money to make it happen. Many businesses just die in their early years because of low budgets not enough to survive. Instead of looking for a job it is much better to start your own work. If you don’t have enough money to spend on your idea it is not necessary to drop the idea but you need to streamline it properly.

Crowd Funding

 

Crowd funding is not a new concept but most of the people are unaware of its usefulness. It means getting funds from the public for your business. You need to start with putting an effort to create something according to your idea like a basic product. Once you have a basic product you can show it to people around you and ask them for funds. When asking for money you have to be really smart. Look for what the other person wants. Obviously nobody wants to invest money in something that is not going to give them any kind of profit, so keep this fact in mind.

Talk to Friends and Family

Friends and family are the people you need to start with. As these are the people who know you better than anybody else and they are close to you. So there are huge chances that they would listen to you and spend their money on your idea. Even if you are not successful in getting an investment from your friends and family you don’t have to worry. People are hungry for getting a chance at earning big time without even having to make an effort. These kind of people can be your future investors.

Research

Research is extremely important in every field of life. You need to know everything about what you are going to do. For example if you want to start a small company giving carpet cleaning services you have to look at the market size of this business in your area. In the same context if you are thinking of starting a technology based startup you need to look for its market prospects too. The most important part of any kind of business or startup is the customers. Try to know the customers as much as possible. Conduct surveys, gather the weaknesses in the companies with similar expertise as you are going to provide and exploit them in an innovative way.

The Final Push

Once you have done all the research and gathered the facts you can create a better product. In addition to this you can get your potential investors on board with the help of stating these facts and figures along with the problem you are going to solve. If your solution would have the potential of making profit quite likely you will find some investor. Once you get the starting boost it would depend upon how much effort you make to make your company better every day. Although there are chances that you may have many sleepless nights but surely you would be making enough money then white collar job holding graduates in a few months.

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