What the Heck is “Crowdfunding,” Anyway?
The idea of crowdfunding is simple: many people make small donations to create big change. It’s already been used to fund artists, performers, writers, and journalists as well as provide money for entrepreneurs in developing countries (a la Kickstarter.com, Kiva and many others). It’s the perfect way to support change in someone’s life in a more meaningful way, because you can see their picture, follow their story, and in some cases, see how they actually use your contribution.
Many people feel dissatisfied by writing a check to a mega-charity never knowing exactly who their money helps. Crowdfunding is a different way to give—it’s fundraising on a truly micro level. Individuals ask the online world for help for specific efforts and you can join their story.
Crowdfunding is a way people can fundraise through social media. It relies on friends, networks and other social media communities to make small contributions to projects through specific crowdfunding sites. People can use Facebook, Twitter, and other social media outlets to share campaigns with their entire network of friends and followers, leading more and more people to make contributions. Just think of how many Facebook friends you have; what if each one donated just a dollar when they saw your post? What if their friends did the same, and on and on? Now that’s a powerful donation. Small change can become amazingly big when multiplied via crowdfunding!
Unlike giving to traditional charities, most crowdfunding campaigns have time limits. That means that once a project goes online it might only have a few weeks to get full funded. That’s why harnessing the power of social media is crucial when it comes to crowdfunding—power in numbers means campaigns get funded, and time matters!
Crowdfunding is fairly new, but not so new that there aren’t various different sites out there. There are many with different emphases and rules. Go ahead and Google “crowdfunding” for a topic you’re interested in and most likely you will find a site where you can donate. It works just like shopping online, but instead of buying a material item, you’re helping someone realize their dream!
Check out Housing ONE now! With your support we can end homelessness in our community.
You can also learn more about How to Use Crowdfunding to End Homelessness.
- How to Use Crowdfunding to End Homelessness (housing1000.wordpress.com)
- Crowdfunding, The Great Disruptor! (isellerfinance.wordpress.com)