This post by Ben Tedore
What is Crowdfunding?
Crowdfunding is essentially a donation funded venture from many donors generally via the Internet. The way it works is that the individual or group seeking funding puts together a “pitch” for donations. These pitches are usually in the form of a video or written description of the requestor’s plan. Detailed plans describe what it is that will be developed or produced along with how the funds will be used. As an incentive to attract donors, requestors will offer “rewards” for various denomination levels. An example of this may be an artist’s signed CD for a donation of $20. As the donation value becomes larger the gifts get more elaborate. The requestor is then obligated to fulfill these rewards if the venture is fully funded.
So how do you start?
Take a look at this document produced by the Nevada Small Business Development Center which compares many of the top crowdfunding sites.
See which one best fits your needs as well as provides the best opportunity to get funded and give it a shot. Let us know how your experience went.