What is crowdfunding?

crowdfunding

Crowdfunding is an online way of raising capital (and a crowd) to realise exceptional ideas.

Thundafund allows a large number of people to each pledge small amounts of money into a project or idea. They are paid back with a project related reward produced through the project itself.  These small amounts soon add up to the capital required, simply due to the crowd factor.

 

The benefits of crowdfunding:

Crowdfunding is about more than just funds…

You can test your idea; build a base of supporters and it is about the crowd helping the entrepreneur and their idea grow from strength to strength. Backers want ‘their’ projects to succeed and will offer advice and assistance to get them there.

Crowdfunding is debt-free, low-risk – and you can potentially be funded far more than you intended. If your product or service has a strong crowd appeal and you’ve got the gears to market, you can easily exceed your target!

You, the owner of your grand idea, retains 100% full control over it all – your creative vision and idea execution, your costs, your timing, your delivery, your marketing and your own interactions with your customers. You also get to present your project in your personal style, because the crowd likes ‘you to be you’.

“It’s a risk-free model, allowing project creators to raise awareness within their market or audience by pre-selling the product before engaging in significant resources,”

Andrea Morgan – Co Founder of Thundafund.com

With Thundafund, crowdfunding works this way: 

Step 1: The Thundafund team works with the project creator to understand the idea | project; its funding needs, crowdfunding targets and what the money will be used for; rewards and project copy, as well as marketing advice.

Step 2: Each project devises a variety of backer levels, known as project-related rewards, in return for backers’ support. These rewards are retail; recognition and experience | access. Items such as unique events; goods and services; money-can’t-buy experiences or objects. The type of reward that a backer receives corresponds with the amount of money they give.

Step 3: Let the crowdfunding commence! A project has a defined target time period of 30-90 days and 3 different monetary Milestones within which to raise the necessary funds. If the financial target of Milestone 1 is not met within the projects duration, funds pledged by backers are returned to them. Why is this important? This ensures that backers only commit their funds towards projects that have sufficient financial backing from the crowd.

Step 4: Create some noise, because the more attention you attract to your project on Thundafund the greater your chance of getting those backers.