- Branding at the same time: Not only are you raising money for your company, but you are also branding and promoting your product. Can you say free marketing?
- Not restricted by location: Your team can be based in Boston, MA, and your backers can be from across the nation and world.
- People will notice you: While there are thousands of projects on IndieGoGo, Kickstarter, etc., people do take notice of good ideas. With crowdfunding, backers also feel they’ve had a helping hand in getting your product off the ground.
- Easy and efficient: Crowdfunding sites make it easy for teams to easily track their progress and see who they are getting funding from.
- Eliminates going to an investor: Sometimes funding a startup can be the toughest part of launching a product. Crowdfunding essentially eliminates pitching to investors and lets your friends, family and other backers help decide if you should get the funding you are asking for.
Adapted from this Tech Cocktail article by @AmandaLQuick.
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