Follow The Crowd

Is Crowfunding really a viable option to fund your ideas and possibly your next startup.

- Arnab Mukherjee

Let’s face it - when it comes to realising your dreams, money is almost always a big deal. Even if you’ve had the best idea ever – one that is going to help the entire world and make you eternally famous – if you don’t have the moolah to put behind it, consider it doomed in the age of distractions and short attention spans. Hence, when crowd funding was touched by technology, it got a lot of attention. Today, we have successful projects like the Oculus, Pebble and many more that have hit mainstream popularity, all thanks to widely successful crowd funding campaigns.

Hence, it is natural for people to look up to crowd funding as this magical solution to all money problems when it comes to launching your own product or business idea. It’s not as if crowd funding does not work today, but gone are the days when all you needed was a Kick starter campaign to get media attention and widespread demand that initial projects experienced. Simply having an ongoing campaign won’t work anymore. “I built it, but they did not come” is a very common, and heavily misused excuse from rapidly failing campaigns these days. And why are they failing? Because none of those campaigners really know how crowd funding works any more.