Crowdfunding Musings

(Image: kazembelaw.com)

Crowdfunding is a new technology
Having been to a range of startup events, I’ve realized many entrepreneurs and those from the innovation ecosystem often construe crowdfunding to be an innovative technology. Crowdfunding isn’t a technological marvel or pioneer but instead it’s a futuristic vehicle for innovators to realize their goals.

Crowdfunding revolves only around funds
The world of crowdfunding opens up various avenues and more unique ways to do business. A project on a crowdfunding platform can be used to gage audience reaction to a certain product or service. It can also be used to plan production and delivery of sales.

Crowdfunding isn’t for serious businesses
Another opinion doing the rounds is crowdfunding involves little funds from ordinary people and it all together cannot help establish a sustainable activity or business. Well, a lot of this emanates from ways some crowdfunding platforms have been pitching themselves. But with equity crowdfunding truly on its way, large investments in business and ideas could become the norm.

Crowds and a community are very different
People when they get together form a crowd, and this crowd when it has a shared goal forms a community. Building a community isn’t easy but when realized and sustained, there is no end to what the community working together can achieve.