Disadvantages of Crowdfunding

 In CrowdFunding Top Four Home Pg

1) Failure.

This is everyone’s most hated fear about anything we try.  The fear of failure can inhibit us from taking chances in life, in general.  Once we get past that threshold of the unknown, we break into the boundary of hope and resolution.  Resolve is required in Crowdfunding just as much as any career opportunity that involves public interaction.  Having a backup plan is keen.  Not having a backup plan is detrimental to any conquest that you may encounter.  It’s all about the individual.  No one can predict the outcome of an unknown adventure any more than you could recite tomorrow’s winning lottery numbers tonight.

 

2) Trying to come up with the perfect idea that enough people will catch on to.

Things can be frustrating for someone who has not fully developed an idea for the right business model.  This may not concern you personally if you already have everything in place as far as the full concept itself, but for everyone else who doesn’t, they may find it very difficult to finally settle on one “perfect” idea.

Contrarily, there probably isn’t a perfect idea.  I would suggest diving in headfirst with what you already have, just as long as it is presentable enough so that you don’t embarrass yourself or your brand name, and then making adjustments accordingly.

You should never hold your entire business back for the lack confidence.

3) Competition.

As the scope of Crowdfunding becomes more focused and visible to the world, the opportunity for other business owners to get funding for their ideas becomes a reality too.  Depending upon what you are providing, you may encounter lots of competition from people in the same field as you.  It is also possible to find yourself waiting in the same lines, while trying to get affection from the same backers that everyone else in your niche is.

Be creative.

4) Pitching to a diversified audience.

In general, people like different things.  What one person likes in the southern part of the United states could be totally different from what someone of the same age, nationality, and gender likes in the another part.  In fact, it is almost certain.  It is impossible to predict what backers will enjoy.

That’s why reaching out to as many potential supporters you can, through Crowdfunding, is a great idea.  Eventually someone will catch on and tell someone else about it.  Never give up.

Would you like to learn how to build a successful crowdfunding campaign? We’ve a 16 module online video training that covers all aspects of building your campaign, to sign up for access to the training please click here.

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