What is crowdfunding?
Crowd means crowd and Funding refers to collecting money. So crowd + funding simply means collecting money from a crowd or a lot of people.

This is not a new thing, people have been donating small amounts for centuries to build temples and roads. You may have collected funds for Ganesh Chaturthi, Durga Puja, Holika Dahan, or any such festival in your area at some time or you may have collected funds for an NGO during schooling! It was all kinds of offline crowdfunding.

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An example of India's most successful crowdfunding is the 1977 film Manthan. 500000 farmers contributed Rs 2-2 to make it.

You may wonder what this good thing has to do with digitization?

So let me tell you that with the help of the internet today people are raising money from people all over the world for various initiatives or personal benefits. And the process of crowdfunding or collecting funds was limited to a village or locality or city, it has now become a global phenomenon.

If you want to raise money for some work, instead of going door-to-door to everyone, you can put your talk in front of thousands of people on social media and motivate them to contribute to your project.

And are making this task easy worldwide web i.e. hundreds of crowdfunding platforms on the internet.

What are the Crowdfunding Platforms?
Basically, this is a website where money givers and money givers can connect to each other. On these platforms, you can raise funds by running a campaign for your or someone else's needs.

What kind of work can we raise money from Crowdfunding Platforms?
Through these platforms you can raise money for things of different nature, for example:

For social work
To implement a business idea (see some practical business ideas here)
To treat someone in need
To help someone in studies
You can even collect money to travel abroad or to launch your album.
So they must be thinking that those who built such platforms on the Internet where you can raise money for your needs
What steps need to be taken to raise money?
Step 1: Decide which work you have to collect, how much money, for how long. And make its story around it. How you keep your point in crowdfunding is very important because on this basis people decide whether they are ready to help you or not!

Step 2: Select the right crowdfunding platform according to your purpose.

For this, you can visit the website of different crowdfunding platforms and analyze how many schemes have been supported there. Has anyone raised money there for a similar purpose? If yes, then your chances of being successful increase.

Step 3: Some information related to you and your fundraising goal will be asked on the website. Here you should be completely genuine and give correct information. Never give money for false information and for some hidden purpose. Good crowdfunding platforms investigate people running campaigns and can also take legal action against fraudsters.

Step 4: Create photos, videos, website and other promotional content related to your campaign and promote it through Facebook, blog posts and other ways.

Step 5: Monitor the campaign continuously and if any questions related to it arise, answer it immediately.

Step 6: And last but not the least, do not forget to say helpers THANK YOU.

What to do if I want to pay for a project?
If you are among those who want to give their support for a cause, then crowdfunding is a good solution for you. You can simply go to any crowdfunding website and pay for your favorite project by debit card, credit card or other ways. Some websites ask you to register before making a payment, while on some you can pay without registering.

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Author's Bio: 

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