Crowd Funding New Ideas

0524131158

In recent years, receiving a small business loan from a financial institution has become difficult to obtain. Tighter lending standards, additional asset qualifications, and tougher scrutiny over business plans have cause some to seek alternative options. One of those options is to seek financial help from the potential audience of the project.

To help get the funding he needed to transform a product idea into reality, a high school student in Utah enlisted the aid of Kickstarter.com. With the help of generous donors, he was able to produce his outdoor game made with wooden blocks. More than 300 games have been sold to date, and his shipping provider of choice is the U.S. Postal Service using Priority Mail Large Flat Rate Boxes.

When traditional funding sources aren’t within reach, a well-crafted pitch to potential backers on a crowd funding website could generate the needed resources to turn a dream into a reality.

What are some of your experiences with crowd funding projects?

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