I recently advised a new crowdfunding platform by AppsGenius, GetFunded.com, was anticipated to go live within a few weeks. That day has come and the GetFunded.com crowdfunding site is now available to the public.
Each and every week, millions of dollars are contributed to crowdfunding projects and you now have one more resource to get involved. Similar to other crowdfunding websites, GetFunded.com will allow you to raise money by submitting a project, or you can contribute money to an an existing project.
Unlike other crowdfunding sites, GetFunded.com does offer a few advantages over their competition:
- They allow you to create any type of crowd fundraiser, the way you want to. You are not limited to artistic or business related endeavors.
- They offer you assistance with your crowd funding project request. Need help creating a business plan? No problem, GetFunded.com has you covered!
- They offer you a crowdfunding specialist whos forte is helping you reach your goals and ultimately making your project a success.
- They offer you an option most of the other crowdfunding platforms have taken a stance against. GetFunded.com will give you the option to keep any amount you raise through their crowdfunding platform. Many of the existing crowdfunding sites make you forfeit any money raised, which is returned to the contributors, if your goal is not reached.
If you are new to crowdfunding, why not give it a shot? Crowdfunding will surely gain popularity over the coming months, especially if the JOBS Act is passed early next year. Involvement with crowdfunding projects can be very rewarding. You can personally contribute to the success of a business, product, invention, artist, or charitable cause. You only need to decide whether you want to give to crowdfunding projects, or start your own crowdfunding project and receive contributions from others who desire to see your vision become a reality.
Start a Crowdfunding Project – Request Contributions
Anyone in the world who requires money to deliver their product or idea can establish a new Get Funded account and start a project. The first thing you want to do is create a video to introduce your fund worthy project to the world. Make sure you explain your project in enough detail to gain your audience’s trust, but don’t take it overboard or you may loose their attention… and money. Walk your potential contributors logically through your project and tell your story along the way. When closing a sales deal, most people forget to ask for the sale. Don’t make this mistake. Ensure you ask for support and explain to your audience why they should contribute to your project and what rewards they will receive in return. Be natural, stay relaxed, and create a genuine connection with your audience.
Once your video is complete, you should now create a project page. Include details surrounding what it is you are trying to accomplish, how you intend to do it, how the money raised will be used, and any information about you, your company, or other players involved in your project. Remember, your goal is to establish a connection and trust with your audience. Add pictures to make your project pop.
Next you will need to set a financial crowdfunding goal, timeline, and list your crowd fundraising contribution rewards. Note you have a maximum of 60 days to reach your goal before the project will be closed. Rewards are optional, but they are highly recommended. Is your project a documentary about the wonderful life of French-Canadians? Offer a free copy of your DVD. Are you starting a band? Offer free passes to your next gig. Are you an artist? Offer a signed print of your latest creation. You can relate your rewards to the amount being contributed. For example, $1-$25 may get a contributor a simple thank you letter, $26-$50 results in a t-shirt, and $50+ gets you the DVD, concert passes, or signed print mentioned above. The only thing you cannot offer your contributors is equity, revenue share, or investment opportunities within your company, or entrance into lotteries, raffles, or sweepstakes.
Lastly, you will need to socialize, market, and promote your crowdfunding project to the world. Start by inviting your friends, family, and business colleagues to make a crowdfunding pledge. Ask them to plug your project with a mention in their social networks. You should do the same. Reach out and ask for support from websites, blogs, and online communities who align with your projects theme. Speak with people in person by passing out flyers or hosting a crowdfunding project welcoming event. You can even attempt to create something that goes viral and attracts TV or radio media attention.
Contribute to a Crowdfunding Project – Make an Idea a Reality
Giving money is much easier than receiving it. To make a crowdfunding pledge, simply access the project page and browse through various categories such as art, design, fashion, film, technology, and even theater. Find a project that interests you, click the “Fund This Project” button, select your reward, and finalize the pledge by making payment through Amazon. No worries if you do not have an Amazon account; you can pay with a debit or credit card without having to signup with Amazon. You have the ability to increase, decrease, or cancel your pledge at any time until the deadline is reached.
Remember to apply “buyer beware” due diligence before forking over your hard-earned cash. Research and do your best to validate any information provided by the crowdfunding project requester. Fraudsters are always attracted to easy money and crowdfunding sites are no exception.
Fees and Services
- 5% GetFunded.com fee on money raised for fixed-funding
- 9% GetFunded.com fee on money raised for flexible-funding
- 1.4% to 4% Amazon fee for receiving money
- No fees are charged to fund or contribute to a project
- A small fee is charged to feature your GetFunded.com project. Small fees may also be accrued if you require assistance from the GetFunded.com team to help setup, manage, or market your project.
If you would like to learn more about GetFunded.com or how to create or fund a crowdfunding project, check out their help page. You can also take a look at their parent company site AppsGenius.com. AppsGenius also trades on the OTC (Over the Counter stock exchange) under the symbol “APGS” if you like equity more than pledges and the potential to earn cash over rewards.
What are your thoughts about this new crowdfunding website? Please leave your comments below.
Disclaimer: No information in this post should interpreted as financial, tax, or legal related advice. Please consult a professional for these services.