Crowdfunding is a very straight forward way of raising funds that you need to get your business off the ground. It is also a way to raise awareness and support for your concept and ideas. It allows you to make your ideas into reality with support from a broad base of investors. The public backs up ideas with pledges of cash and project owners can appreciate the supporters with rewards that reflect cash contributed. It also allows you do detach the negative association with the funds that you would have if you borrowed on your house, from friends or family or any other way where there is an emotional attachment or undue pressure. Investors through crowdfunding schemes know the risks involved and rarely invest enough on an individual basis to exert influence over how you run your business.
Much of the crowdfunding relating to spiritual endeavours are centred around charitable fundraising. You will find another blog post with my opinion about making money from your spirituality, but the fact is that if you cannot pursue your soul purpose because you cannot support yourself and you have to stay in a job that does not serve you anymore; the universe is not going to be pleased, is it? Hence, I think more spiritual businesses that need to raise start-up capital need to view crowdfunding as a viable option.
Below is some recommended reading material and below that a number of crowdfunding platforms for you to discover.
Crowdcue was founded by two entrepreneurs Darren Westlake and Luke Lang, who were fed up with the inefficiencies faced by small and startup companies and envisioned a technology solution.
Seedrs was conceived by the lawyer and tech savvy duo of Jeff Lynn and Carlos Silva, saw an incredible opportunity to disintermediate the corporate finance model at the small deal size.
This kind of project tends to be creative in nature, raising funds for ideas like creative art books and balance bike made of wood. Other categories can include technology and food, but by far its focus is on art, music, design and crafts. It should be noted that it funds projects, hence you must have deliverable like a play or book, instead of nebulous as just “starting a business”
This is more industry-based unlike the others that cater for product investors and creative types. Its target industries include biotechnology, health care, computer hardware and software and industrial and manufacturing.
The approach is unique unlike the ‘all or nothing’ requirement but it penalizes a higher fee if your goal and objectives aren’t attained. Fixed financial support is pumped if you only continue to raise the agreed amount of money. Every business is covered from small business to environment
It’s ideal for local entrepreneurs struggling to rally a community to help them grow or launch. Some current ideal situations include a man looking to open a northern fusion restaurant and a woman looking to expand her baking enterprise. Its approach is “all or nothing”. Its fee is 6 percent, plus payment processors charge between 3 and 4 percent.
Crowd funder (http://www.crowdfunder.co.uk/)
Aims at providing investors with an opportunity to get a chance for investing what has typically been exclusive to industry insiders and Silicon Valley venture capitalists. The platform helps investors to raise fund and also to connect entrepreneurs with investors.