Innovation is often described as a new idea that can solve new or existing problems. One thing is certain: whatever the innovation is, it has to be both original and to serve a practical purpose, either by solving a problem or by fulfilling a need that has not yet been addressed. Since innovative ideas are, by nature, unfamiliar, they are
The clue is in the title: crowdfunding relies upon persuading your crowd to part with their hard-earned money in support of your project. Although in rewards-based crowdfunding they may be incentivised to donate by the promise of an attractive reward of some kind, the process still relies on your ability to persuade them to contribute. Asking yourself why your potential
Winston Churchill famously once said, ‘Success is not final, failure is not fatal: it is the courage to continue that counts.’ His wise words are applicable to many areas of life, but none more so than to the world of crowdfunding. You have a great idea and launch a crowdfunding campaign to help it become a reality. But, unfortunately, it
Put simply, crowdfunding involves setting a funding goal and persuading your project’s target audience to contribute money in order to reach it. But have you heard of stretch goals? Stretch goals create an extra funding target beyond your campaign’s original funding goal, to give the project an added boost. Like the sound of that? Well, here’s how you can use
It’s super important to send project updates to your backers. Here’s why. By its nature, crowdfunding relies upon inspiring the interest of a project’s target audience and persuading them to financially support it. How well you engage and communicate with your crowd before, during and after your crowdfunding campaign could thereby make all the difference to its success. Project updates
Crowdfunding has, in recent years, become one of the most popular and accessible forms of alternative finance, relying on a project’s target audience for funding rather than on large lump sums from banks or angel investors. ‘Donation-based’ and ‘rewards-based’ are currently the only crowdfunding models available in Malta, whereby supporters contribute small amounts of money with no expectation of anything
According to the proverb, ‘a good beginning makes a good ending’ – and this is especially true in the world of crowdfunding. While there are many factors that will determine whether your crowdfunding campaign will ultimately be a success, one of the most important is how well it starts, right from the moment it is launched. To help kick off
In recent years, crowdfunding has grown from simply being a means to raise funds, into a vital tool for businesses and causes across a variety of sectors to gauge their target audience’s interests and needs. In this third and final part of our series exploring the sectors that fit most comfortably into the crowdfunding arena, we present a further six
As the name would suggest, successful crowdfunding depends on one thing: the crowd. Persuading your ‘crowd’ – or the target audience for your product, cause or idea, in other words – to donate their cash towards your crowdfunding campaign is key if you are to hit your funding goal. How you present your idea to your crowd is thereby of
Crowdfunding has grown into one of the most popular forms of alternative finance in the world – and for good reason. Offering not only a means of raising funds but also a way to engage directly with a project’s target audience and garner valuable feedback, crowdfunding has attracted ideas and causes across a variety of diverse sectors. Continuing our series
Learn why the pre-launch phase in crowdfunding is as important as the campaign itself. It’s easy to see why crowdfunding is fast becoming one of the world’s most popular forms of alternative finance. While sidestepping the risks and difficulties associated with traditional funding methods such as bank loans, crowdfunding also immediately presents a cause, idea or project to its intended
For any project, start-up or idea, building an interested audience of supporters – and potentially future customers – is as important in crowdfunding as in any business venture. As with all essential steps to growing a business, however, building an audience early is anything but easy or straightforward but, in the long run, it may make all the difference. The
