In the past, getting financing for a venture was next to impossible, you had to have a business degree, connections, a traditional business plan and a thick skin that would allow you to go from bank to venture capitalist, rarely if ever breaking through into the old boys club of financiers.
The Internet and social media have brought us into a brave new world of open borders for creatives, designers and entrepreneurs. Getting your idea from 0-100 is very possible these days. There’s never been so much opportunity to get funding with all the variety of resources, and crowdfunding is one of those tools that can get you there. But what is crowdfunding exactly? And why is it a big deal?
The Internet is a social hub of communities in everything from knitting to social activism. By building these online communities, people are able to feel empowered and have a stronger impact on their world. Whereas in the past, information and products were spoon-fed to the public and dictated by large corporations, now the individual can be in control of what they want to see put out in the world. The Internet and these online communities’ collective power have changed everything about how business is done, from ideas to marketing. Crowdfunding allows individuals to participate in the creation of ideas they believe in and get closer to the creation process, thereby affecting its outcome to their benefit.
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