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Getting your idea funded. Is it easy or difficult?



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Getting your idea funded. Is it easy or difficult?

I've been going over this in my head for the last week or so because I've got an idea that I want to get funded but I'll need anywhere from $6,000 to $10,000 just to get it moving. Yeah, that's a good amount of money that not many people want to part with lol.

Now I haven't acted on any VCs or Private Investors just yet because I want to see if I can raise the capital by using some other sources where people may be willing to help out and I don't have to give up a portion of my company lol Getting your idea funded.  Is it easy or difficult?


Here are a few of my ideas:

  • Forums - Everyone knows what a forum is, if you don't, it's the original online social hangout before there was a facebook or myspace lol. Forums can be a good source to get funding if you are well known there. I myself am pretty well known on a few marketing forums and my new business venture fits into what everyone there would be interested in. The only downside is that most people will want to invest $10 and in return they expect 51% of the company lol.
  • Crowd Funding Platforms - I can start up a crowdfunding campaign on websites like gofundme, indiegogo, and kickstarter but I'm not exactly sure how successful they would be. I've read plenty of books on how to run a successful crowd funding campaign, but I never really see website ideas get funded quickly.
  • Adwords/Bing and Yahoo/Facebooks PPC - After I set up a crowdfunding campaign I would definitely set up a PPC campaign in order to bring people in to help get my idea funded. I wouldn't be spending $100 a day on this because I would be targeting very specific keywords in order to bring in people who are willing to open up their checkbooks because they love my idea. The only downside to this is that I would have it so targeted that I could be missing out on the random people with big hearts that would be willing to help out for a good cause.




What are some of your ideas on how to obtain funding for a good website idea?



Thanks,

Razzy

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Lynne

Razzy have you heard of Patreon yet? I am a member and ok I only have about $5 a month pledged to me but that is a start right?

What they basically do is you state what your mission is and what your content is about and then you add projects where people can pledge their support and each time you reach a goal you have to state what it is that you will be doing with the funding.

People get really creative and fun at Patreon. Of course it does take some time and effort to get going and I have to be honest I have not spent much effort to get support.

I added my recovery from addiction website there so my mission is to spread the word about addiction, it is more of a passion and a hobby than a money making mission though.




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TommyCarey

I've heard of Patreon, but I didn't know what it was about. I'll have to go check it out now Getting your idea funded.  Is it easy or difficult?




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procoder

Crowdfunding platforms are really cool, personally I've never tried them but i've heard good things for them, also I've seen many projects getting funded and completed by those funds, but not only.

I'm not familliar with those platforms, but are they completely free? I mean If I post my project there will they cut something from funds that I'll generate? However, even if they do that it's still a great chance to accomplish things that sounds impossible.

Also I would say that promotion is the key to get your idea funded, it can be "the best idea" in the world, but without promotion it's nothing.




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TommyCarey

I think a lot of them are free to list, or if there is a fee to list it's pretty low. The main way that crowd funding platforms make money is by taking a percentage of the funds that are deposited towards the persons goal. So if they crowd funding platform takes 10% of the funds as a payment and the person obtains $100,000 in pledges/backers then the platform makes an easy $10,000 lol Getting your idea funded.  Is it easy or difficult?

I would think that making the listings cost a few bucks, $3 to $7, would make it so that people who are actually interested will sign up and publish their content in order to get funding. Making it free might get you a flood of traffic from sources where people just want to post 100 funding possibilities that aren't well put together. So by making the listing have a small fee you're actually cleaning up all the spam lol Getting your idea funded.  Is it easy or difficult?




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Lynne

I think most likely it is free to list and then there would be an amount deducted from money that is donated or pledged to the projects Getting your idea funded.  Is it easy or difficult?

Well anyway that is how Patreon works. I can't remember the amount but every time payments are made monthly by patrons there is an a moutn deducted and then the rest is mine.

I know some people moan and complain about this, but I think it is only right. It takes a lot of work to run a website and if the website is not supporting itself or making any money why on earth would they set it up?




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Cristian

Pitch the idea on past clients? As freelancers we all have a good number of past clients and even current clients. Yes sure, most of them won't be interested and some of them don't have the capital for an investment, but I'm sure we all gather enough clients that are capable of investing.
So why not pitch to them? Especially those long term clients you already know and trust and here is the best part, they already most probably trust you!
Webmaster forums is a great place to start, maybe contact directly other popular members you already know and kinds trust.




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Corzhens

There was a time that a friend of ours, who is a film director, started a project with crowd funding as the source of budget for the production of the movie. The plot is about illegal drugs. It has a good story and the tentative cast had already been informed. However, the crowd source funding did not materialize because it was a new idea at the time. In fact, it was not called crowd funding yet but a corporation or syndication.




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