FREE! "Invention Crowdfunding System Reveals The Most Effective Invention Funding Model, plus how to get started today without breaking the bank..."
1. What is crowdfunding?
Crowdfunding is a collective effort by people who pool their money to support a project they believe in, such as bringing an invention from concept to marketplace, that is initiated by another person such as an inventor like yourself. Crowdfunding makes it possible for you to achieve your invention goal of selling, licensing, or manufacturing products based on your invention that you otherwise might not be able to do using equity or debt financing. And most importantly, with crowdfunding you do not give up any ownership stake in your invention.
2. Problems with Crowdfunding
The first major problem with crowdfunding is that inventors usually do not know whether their invention is suitable for crowdfunding. Only certain types of inventions have the "sex appeal" to draw enough interest from the general public so as to get funded. If you try to fund an invention that is not suitable for crowdfunding, you are wasting your time, effort, and money.
The second major problem with crowdfunding is that inventors typically have no strategic plan with specific steps to achieve their invention goal. Therefore, they do not know how much money is required, so their funding goal is often insufficient to reach their invention goal.