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http://en.wikipedia.org/wiki/Crowd_funding

From that wikipedia article:

Crowd funding (sometimes called crowd financing or crowd sourced capital), inspired by crowdsourcing, describes the collective cooperation, attention and trust by people who network and pool their money together, usually via the Internet, in order to support efforts initiated by other people or organizations. Crowdfunding occurs for any variety of purposes, from disaster relief to citizen journalism to artists seeking support from fans, to political campaigns.

Essentially, crowd funding is a paradigm where you can present a business plan or project to an online community and if they like it, collectively they will fund it so that you can get that business or project started. A post modern way to finance your business or project!

If you’ve been looking at e-commerce as a means to an other end, if you’re working to raise money do what you really want to do – the concept of crowd funding may change everything for you.

As a rule of thumb, people like to support projects that will help more people than yourself. And really, this is also a key to magical results. When you make your desire large enough to help many people, it can enroll the energy of many people to forward that will magically. Crowd funding translates this magical principle into an economic reality.

And crowd funding isn’t just about money, everyone that contributes has a stake in your getting that project done! So if you’ve a habit of procrastination without a boss or someone else to answer to, a crowd funded project has an entire crowd of people to answer to.

I’m going to share some useful website resources related to crowd funding. If you browse the successful projects on these sites and have a project you love that is what would make your life  better to be pursuing, you can pretty much figure what you need to do and how best to do it by following the example of projects successfully funded this way.

Read the terms of the sites, usually the site takes a small percentage of the donations for their costs and for profit. Some sites will give you the  money raised for your project if it meets your goal or not, others only give money to projects that meet their funding goal (this creates more competition  and often larger amounts are raised for popular projects).

If you want more information than I’m providing here, you can purchase the same course I did here, http://90minutecashadvance.com/1/indexb.html – it costs just $1 (or did when I bought it) and is worth every penny – but you do get signed up for a terribly expensive magazine or newsletter you need to contact their customer service to cancel. So remember to cancel unless you don’t mind recurring monthly payments of $67.77.

So here are some valuable Crowd Funding resources:

http://www.greedyorneedy.com this is a site for making requests for stuff, under $100, that you need or simply want. The Site donates $100 to the 2 most popular requests regularly, one for need and another for greed – but users can make private donations as well. Some of the “need” requests are heartbreaking.

http://www.kickstarter.com This is primarily a creative oriented Crowd funding site, it only pays out to successfully funded projects and is in beta, so you need to have your project approved and be invited to participate.

http://www.quirky.com/ if you are an inventor, this is the site of a manufacturing company that crowd sources ideas for things to manufacture and sell online. If you invent or design a hot selling item, you get paid a percentage of sales.

http://www.indiegogo.com This is the site for crowd funding of independent movies and videos, if you need money to make that movie or video – this is the place to get funding.

http://rockethub.com/ a good grass roots crowd funding site for creative projects. I believe they give you all the money you raise if you meet your goal or not.

http://www.sellaband.com If you are a musician or in a band and need to raise money to publish a recording and/or promote your performances, this is the crowd funding resource for you!

http://www.createafund.com This site give you the resources to create your own fund for others to crowd fund, but you have to supply the crowd, it’s not a community site as the other crowd funding resources are. You get to keep ALL of the money raised this way, the site takes no percentage at all.

http://www.growvc.com This is for attracting venture capital to your online business start-up. Very cool if you’re thinking big.

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