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Crowdfunding Still Working Like a Charm

posted May 29, 2013, 11:43 AM by   [ updated Jun 5, 2013, 9:41 AM ]
I predicted that Crowdfunding would be big, and I love to see that more and more new ventures are using it to quickly and easily raise funding.

My favorite recent example is Glif. 

Glif's founders came up with an idea - a simple iPhone 4 accessory with two primary functions: mounting your iPhone to a standard tripod, and acting as a kickstand to prop your iPhone up at an angle.

Next, they created a prototype. But they had no money to actually build it and distribute it.

So, they turned to Crowdfunding. They posted their company on one of the several Crowdfunding platforms (Kickstarter). They set it up so that donators receive, among other things, a Glif when they are eventually manufactured (after the company has raised enough money to allow them to manufacture).

The result: within just 5 days, Glif raised over $80,000. 

Now, before you rush to post your venture on Kickstarter, note that the vast majority of those that do so fail to raise any money.

Because there is a specific strategy you must follow in order to successfully raise money from Crowdfunding.