Crowd funding is a type of social lending that is increasing in popularity. Basically, imagine someone you know personally asking you for money, with the knowledge that you will get it back. However, the difference is that with crowd funding, you lend to strangers by using the power of social media. That sounds incredibly risky, but it is actually a really safe form of investment, both from the perspective of someone who is trying to get a project of the ground, and from the perspective of someone who has the money available to make an investment. So, if someone has a project they want to have financed, they simply place it on the social media site and hope someone else will be happy to help out. GrowThink is one of the companies that can help you set this sort of thing up. But are they worth investing in? Or is this something that you can simply learn yourself, without wasting your money on a company?
What Is the CrowdFunding Formula?
GrowThink created videos which will show you all the details pertaining to crowd funding. Essentially, these videos are designed to help you create a perfect crowd funding project. You will see where you should create your project, and what the best way of promoting your project is, so that you will get the money you need as quickly as possible. We purchased a copy of the program a few weeks ago, and we have been putting it to full use since.
We found that the video really is the best investment you will ever make if you’re looking for finance. There are 14 steps that you need to take in order to be successful with crowd funding, and the video explains each of these steps in great detail. It reviews the best websites to register with in order to get crowd funding, as well as pitching these against each other, so that you can find out which one will work best for you. There are full descriptions of the types of projects that are able to receiving funding through these various sites and they explain the process in full as well.
The benefits of this program are clear. It provides you with all the information you need in order to make sure that your crowd funding efforts are successful. But why should you try crowd funding at all? There are various very important benefits to this type of finance. This includes:
- It is easy to understand and receive.
- It allows money to be raised through unaccredited investors, meaning you don’t have to go through all the legal red tape that usually comes with an investment.
- Crowd funding allows people with really great ideas to make a go of their plans. No longer will all the best ideas be lost and driven to obscurity forever anymore, because it is now actually possible to get the necessary funds needed.
- Because of the way the system works, crowd funding immediately provides you with word of mouth advertisement and the potential to get new clients for your project.
- There are different ways within crowd funding to actually get hold of some money. The best way is to set a threshold for a pledge, meaning people only have to pay up their pledge if you get sufficient funds together all in all. It is almost risk-free, in other words.
What We Don’t Like
- There are a few things that are perhaps not as good about crowd funding, not in the least that you generally need more than one investor in order to get all the money together. Getting someone to make that first pledge can be very difficult to do. However, once you manage this, you are very likely to be fully successful.
- The CrowdFunding formula teaches you everything you need in order to be successful when you place your proposals on the right websites. A criticism of the program is that the information they provide could also be found simply by searching the internet. Although there is some truth to this, the reality is that everything can already be found on the internet. However, you don’t know which elements are true and which ones are nothing more but false information. By opting for the CrowdFunding formula, you get all the information you need together in one place and you know for a fact that each of the elements is genuine and will work.
The training provided in the video is about as good as it is going to get. Furthermore, because it is available at a very low price (less than $100), we say go for it – what have you got to lose? One of the things we have done is start a network or community of people who are looking to get their projects funded. My goal, at present, is to get 1,000 people in the group, after which we will continue to grow. We focus specifically on people who look for financing for artistic projects, attracting a specific niche. This is something we learned from the CrowdFunding formula itself. So far, so good! We found the program very easy to understand and the video instructions were concise and easy to follow. It didn’t take us long to understand just what crowd funding is and how it could benefit us, and it took no time whatsoever to actually implement all the knowledge we had gained from the formula into a functioning product.
Yes, you should have an idea of a project already germinating before you start with the CrowdFunding Formula. If you don’t, then you will find it difficult to apply the knowledge. After all, the program is not designed to give you project ideas, but rather to give you all the tools you need in order to be successful with your product. It certainly worked for us and we say that if we can do it, so can you. Give this program a shot.