So you started your business and it’s soaring, just as you knew it would!
Now comes the hard part: keeping it airborne. The first place that you, the entrepreneur, will feel the nip of potential failure is in financing. You’re not big enough, or well enough known, for a bank loan—and you know because you have tried. But you can avert disaster by using crowdfunding.
What is crowdfunding? Taking its cue from what most people call crowdsourcing (i.e., outsourcing many small, business-related tasks to a large group of interested parties), crowdfunding is the use of small donations from many entities to finance a specific product or enterprise.