While crowd funding service is now an interesting option for your business idea, here is how it actually works to collect funds from people.
Start With An Idea
You should start by developing a business idea in a business proposal. Explain comprehensively how your business will work, how it will return profits, and how it is different and unique from other businesses. A unique, brilliant, and innovative idea is the one that people would love, so you have to elaborate this idea with your team.
Pick and Register to A Crowd funding Service
There are so many kinds of crowd funding service. They all have different criteria and eligibilities. Pick one that suits you well. The more popular the service is, the easier for your business to be taken seriously and responsibly. After choosing, register your business proposal and wait until it finishes reviewing your business idea.
Once your proposal approved, you can start campaigning your business idea. Create an interesting campaign for your business. Sell it to as many people as you can. Share your campaign to social media. As people start to pay some of their money for your business campaign, you will start counting to fulfill your crowd funding goal.
Achieve Crowd funding Goals
Weeks after weeks passed and finally, your crowd funding goals are achieved. Congratulations, now you can start your business. You get a list of funders (or also called backers) for your business and the crowd funding service will subtract a small percentage of your funds as the fee. Now you can receive your fund and turn your business idea into an action.
Rewards Your Funders
Don’t forget, you still owe a responsibility to your funders. You either give away some of your business products to them (like in a reward-based crowd funding) or give them other kinds of rewards, depending on the type of crowd funding service you chose earlier.