The only catch is that starting your own business usually takes money, and that can easily throw a wrench in your plans. After all, these days, it can be difficult for young entrepreneurs to secure a loan from the bank. But don’t despair: if you’re in need of starting capital, banks are not your only option. Instead, try crowdfunding.
Crowdfunding is an idea that started in the United States and has caught on big everywhere. Performers, musicians and artists were its pioneers, posting their products on the Internet in order to get other people interested and excited about their work. If you’re a musician, for example, and can get enough fans who like your songs so much that they’re all willing to contribute some money, you can record and release a CD. In return, the people who backed you get a copy of your brand new CD, making it a classic win-win situation, and crowdfunding a stroke of genius!
You can also use crowdfunding to start up your own business. Have you got an interesting idea for a service or product? Ask the crowd whether they agree with you! The basic idea is the same: rather than get a lump sum from the bank, you get lots of smaller contributions from people who believe in your plan. In fact, that also makes crowdfunding a good test of whether there is actually a demand for your service – if people are willing to pay for it, it’s likely to be a good idea.
So the question is, are you man or woman enough to present your plan to the crowd? Find the right crowdfunding platform and before you know it you may be running your own company.