{"id":7837,"date":"2018-07-24T18:44:44","date_gmt":"2018-07-25T01:44:44","guid":{"rendered":"https:\/\/onewestmagazine.com\/magazine\/?p=7837"},"modified":"2018-07-24T18:44:44","modified_gmt":"2018-07-25T01:44:44","slug":"crowdfunding-the-financial-alternative-to-starting-a-business","status":"publish","type":"post","link":"https:\/\/onewestmagazine.com\/magazine\/crowdfunding-the-financial-alternative-to-starting-a-business\/","title":{"rendered":"Crowdfunding: The Financial Alternative to Starting a Business"},"content":{"rendered":"<p>Crowdfunding\u00a0is a form of fundraising where an entrepreneur\u00a0attempts to raise\u00a0small amounts of money ideally from\u00a0a large number of people and\u00a0is typically done over the internet. With funding being one of the main challenges for any entrepreneurial endeavor, crowdfunding has become the increasing alternative for projects in various stages of development. With traditional loans not always being\u00a0an option,\u00a0entrepreneurs often seek financial support\u00a0through this method. If considering starting an entertainment-based venture including music or film, crowdfunding can be a great source to get started. In addition, available to for-profits and non-profits crowdfunding can represent a professional image to any business and\u00a0brand.<\/p>\n<p>Crowdfunding\u00a0platforms are centralized allowing business owners to monitor incoming contributions and\u00a0keep\u00a0donors informed of status. For example, once a donation is made, the donor may want to know upcoming developments of the venture they\u2019ve contributed funds to. For transparency, it is best to be clear with donors upfront with regards to how contributed funds will be used and managed and their role as a contributor. Fees and requirements vary based on the platform, therefore, it is recommended to research and compare companies that may fit your business needs.<\/p>\n<p>Below are three most commonly used crowdfunding platforms:<\/p>\n<ul>\n<li>GoFundMe<\/li>\n<li>Patreon<\/li>\n<li>Indiegogo<\/li>\n<\/ul>\n<p><strong>GoFundMe <\/strong><a href=\"https:\/\/www.gofundme.com\/\"><strong>https:\/\/www.gofundme.com\/<\/strong><\/a><\/p>\n<p>GoFundMe is a leading fundraiser\u00a0for individuals, groups, and\u00a0organizations. Campaign donations can be withdrawn at any time,\u00a0there is donor protection guarantee,\u00a0and a mobile app.\u00a0\u00a0The site\u00a0also helps with social reach\u00a0and exposure to all social media platforms. To ensure a positive customer experience, agents are available 24\/7 for guidance and expert advice.<\/p>\n<p><a href=\"https:\/\/onewestmagazine.com\/magazine\/wp-content\/uploads\/2018\/07\/kal-gofundpic.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-7838\" src=\"https:\/\/onewestmagazine.com\/magazine\/wp-content\/uploads\/2018\/07\/kal-gofundpic-300x158.jpg\" alt=\"\" width=\"300\" height=\"158\" \/><\/a><\/p>\n<p><strong>Patreon\u00a0 <\/strong><a href=\"https:\/\/www.patreon.com\/\"><strong>https:\/\/www.patreon.com\/<\/strong><\/a><\/p>\n<p>Patreon is\u00a0membership-based designed to help\u00a0artists and\u00a0creators\u00a0get paid on\u00a0work they have\u00a0already created.\u00a0For example, fans can pay a few dollars per month or per\u00a0post allowing fans to become a patron of the arts.<\/p>\n<p><a href=\"https:\/\/onewestmagazine.com\/magazine\/wp-content\/uploads\/2018\/07\/kal-patreon.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7839\" src=\"https:\/\/onewestmagazine.com\/magazine\/wp-content\/uploads\/2018\/07\/kal-patreon.jpg\" alt=\"\" width=\"296\" height=\"170\" \/><\/a><\/p>\n<p><strong>Indiegogo <\/strong><a href=\"https:\/\/www.indiegogo.com\/\"><strong>https:\/\/www.indiegogo.com\/<\/strong><\/a><\/p>\n<p>Indiegogo is a\u00a0platform which allows crowdfunding campaigns for projects in various stages of development and the ability to purchase\u00a0products through the Marketplace.\u00a0Flexible Funding is offered which allows entrepreneurs to keep\u00a0funds even if the desired\u00a0goal\u00a0wasn&#8217;t met. In the Marketplace, the company offers a sellers guarantee.<\/p>\n<p><a href=\"https:\/\/onewestmagazine.com\/magazine\/wp-content\/uploads\/2018\/07\/kal-indiegogo.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-7840\" src=\"https:\/\/onewestmagazine.com\/magazine\/wp-content\/uploads\/2018\/07\/kal-indiegogo-300x225.jpg\" alt=\"\" width=\"300\" height=\"225\" \/><\/a><\/p>\n<p><strong>Crowdfunding Best Practices<\/strong><\/p>\n<p>Continuing to gain positive traction, crowdfunding platforms are\u00a0increasing every year. It is highly recommended that entrepreneurs have a good understanding about\u00a0their business, set realistic goals, and research the best methods\u00a0to accomplish\u00a0goals.\u00a0It is best to work with one platform\u00a0at a time to prevent confusion for donors\u00a0and\u00a0potential investor. Crowdfunding is becoming a leader for fundraising by making asking for money more obtainable.<\/p>\n<span class=\"et_bloom_bottom_trigger\"><\/span>","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>Crowdfunding\u00a0is a form of fundraising where an entrepreneur\u00a0attempts to raise\u00a0small amounts of money ideally from\u00a0a large number of people and\u00a0is typically done over the internet. With funding being one of the main challenges for any <a class=\"mh-excerpt-more\" href=\"https:\/\/onewestmagazine.com\/magazine\/crowdfunding-the-financial-alternative-to-starting-a-business\/\" title=\"Crowdfunding: The Financial Alternative to Starting a Business\">[&#8230;]<\/a><\/p>\n<\/div>","protected":false},"author":49,"featured_media":7841,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[11,2,3,1,5,6,1617],"tags":[3179,1387,1615,1033,586,3199,3200,9],"class_list":["post-7837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-advertising","category-entertainment","category-fashion","category-home","category-lifestyle","category-music","category-news","tag-crowdfunding","tag-entertainment","tag-film","tag-finance","tag-hiphop","tag-invest","tag-movies","tag-music"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crowdfunding: The Financial Alternative to Starting a Business - One West Magazine<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/onewestmagazine.com\/magazine\/crowdfunding-the-financial-alternative-to-starting-a-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crowdfunding: The Financial Alternative to Starting a Business - One West Magazine\" \/>\n<meta property=\"og:description\" content=\"Crowdfunding\u00a0is a form of fundraising where an entrepreneur\u00a0attempts to raise\u00a0small amounts of money ideally from\u00a0a large number of people and\u00a0is typically done over the internet. With funding being one of the main challenges for any [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/onewestmagazine.com\/magazine\/crowdfunding-the-financial-alternative-to-starting-a-business\/\" \/>\n<meta property=\"og:site_name\" content=\"One West Magazine\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/onewestmagazine\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-25T01:44:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/onewestmagazine.com\/magazine\/wp-content\/uploads\/2018\/07\/kal-feature.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"275\" \/>\n\t<meta property=\"og:image:height\" content=\"183\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kalandra Robinson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@onewestmagazine\" \/>\n<meta name=\"twitter:site\" content=\"@onewestmagazine\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kalandra Robinson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/onewestmagazine.com\/magazine\/crowdfunding-the-financial-alternative-to-starting-a-business\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/onewestmagazine.com\/magazine\/crowdfunding-the-financial-alternative-to-starting-a-business\/\"},\"author\":{\"name\":\"Kalandra Robinson\",\"@id\":\"https:\/\/onewestmagazine.com\/magazine\/#\/schema\/person\/633651eee8bda1cb0dfdce13363d1309\"},\"headline\":\"Crowdfunding: The Financial Alternative to Starting a Business\",\"datePublished\":\"2018-07-25T01:44:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/onewestmagazine.com\/magazine\/crowdfunding-the-financial-alternative-to-starting-a-business\/\"},\"wordCount\":448,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/onewestmagazine.com\/magazine\/#organization\"},\"image\":{\"@id\":\"https:\/\/onewestmagazine.com\/magazine\/crowdfunding-the-financial-alternative-to-starting-a-business\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/onewestmagazine.com\/magazine\/wp-content\/uploads\/2018\/07\/kal-feature.jpg\",\"keywords\":[\"crowdfunding\",\"entertainment\",\"film\",\"FINANCE\",\"HipHop\",\"invest\",\"movies\",\"music\"],\"articleSection\":[\"Digital Advertising\",\"Entertainment\",\"FASHION\",\"HOME\",\"LIFESTYLE\",\"MUSIC\",\"NEWS\"],\"inLanguage\":\"en\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/onewestmagazine.com\/magazine\/crowdfunding-the-financial-alternative-to-starting-a-business\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/onewestmagazine.com\/magazine\/crowdfunding-the-financial-alternative-to-starting-a-business\/\",\"url\":\"https:\/\/onewestmagazine.com\/magazine\/crowdfunding-the-financial-alternative-to-starting-a-business\/\",\"name\":\"Crowdfunding: The Financial Alternative to Starting a Business - 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