There are plenty of options to choose from when launching a new website: build from scratch? Have CrowdEngine build and host it? Unfortunately, there is no perfect answer and what you choose will depend on a handful of factors. Many of CrowdEngine’s prospective customers have surveyed the market for months before choosing us, so we thought we’d take some of the pain out for…
There are several ways to make money with a crowdfunding portal. What you choose depends on your overall business’s mission, whether crowdfunding is the sole focus or part of a bigger idea, as well as what kind of value you want to create.
Commissions on funds raised
A commissions model is the most common in the crowdfunding space because it’s easy for fundraisers to…
As you work on your platform, you will most likely encounter this use case at some point: a project has raised money but not enough to achieve its funding goal by its deadline. Should you add more time to let it raise more money and potentially be successful?
In most cases, don’t. Constraints are there for a reason and playing around with them might break the trust your users have in you. Only extend the time if there’s a 99% chance the campaign will be successful. That’s difficult to assess, but it’s more likely if it meets the following conditions:
- Project is at least 80% funded
- Campaign manager is serious and committed
- Campaign manager’s network isn’t tapped out
- Campaign manger knows exactly who in her network is still due to contribute
- You like this project and specifically want it to succeed
Don’t make extending the crowdfunding deadline a habit. If you ever extend the duration of a campaign, find out what happened that forced you to do so, and apply that learning so it doesn’t happen again.Someone famous Source Title
One of the toughest things with any business is getting started. When everything is to be done, where do you start?
Luckily, crowdfunding platforms can borrow a few rules from other online businesses. We’ve launched quite a few websites and accompanied many crowdfunding platforms on their road to success, and here’s our six-step guide.
1. No online business without a website
Whether you want…
The average success rate for crowdfunding projects evolves somewhere below 50%. Kickstarter’s success rate is 44% as of July 2013. Sound easy to reach? Far from it! Here are a few tips to help your improve your luck and beat the stats.
In the beginning when you have no or few projects, it might be tempting to accept any campaign on your crowdfunding…