By now, I’m certain you’ve heard of crowdfunding and how it has changed the face of business. Thanks to websites like Kickstarter, angel investors and VC firms are no longer the only means of securing funding for a startup. With a good enough pitch and the right marketing, a brand can fund itself directly through its future customers.
In theory, that seems like a dream come true for consumers and businesses alike. In addition to funding, startups get a ton of (theoretically) free marketing, and the opportunity to connect with customers. On the other side of the coin, the consumer gets to feel like they’ve a personal stake in the brand, making them significantly more loyal.
But is it really all it’s cracked up to be? Can a business really fund itself solely through platforms like Kickstarter? More importantly…can your business do so? Continue Reading →