Tech Reviews

Why Crowd Funding ?

Crowd Funding and you – A world of infinite possibilities

For the people – The thing that is foremost in the minds of those selling their wares offline or on the web, be it in the form of a product or service is to make it a profitable venture that yields plenty of moolah. Whether the product is a practical necessity or adds value to the daily lives of people is not always an immediate concern. In fact, advertising and promotion is designed to entice a customer by creating a need for a product. Crowd funding platforms on the internet are set to change all this and in the process are rewriting the rules of the game. Here the customer is king in the truest sense of the phrase. From the start of a project to the finally launching the product in the market, the people play an integral part at every step of the way. Thanks to crowd funding platforms, business which has always been centred around profits has finally become people-centric. Or at least started to. There is a long way to go still but at least the beginning has been made. And what a bright one too.

Of the people – We are all aware of how products on sale at a local retail store have been manufactured at a fraction of the price that they are being sold for. The question that automatically comes to mind is, what if you could bypass the middleman or the retailer and buy the product directly from the makers? Will this result in making the same product that much more affordable for people? That is exactly what has happened due to these new avenues that crowd funding has opened up. What would have perhaps sounded far-fetched a few years ago has become reality today thanks to crowd funding platforms. And it is not just virtual reality that one is speaking of. By backing a particular project right from the outset, it is the people who are indirectly controlling the price at which it is finally sold. If they do not see intrinsic merit in a product, they are less likely to back it. Let alone fund it. The people hold all the aces.

By the people – It is said that all men are born equal. But soon after you are born, things change. Quickly and quite drastically, one must add. If you are born into a family that is well to do, chances are that more opportunities will come your way than if you were from a less affluent background. To make it big becomes that much easier. As does risk taking. On the other hand, you might have a great idea but without the requisite resources to be able to pursue your passion or the right forum to showcase your creations, it is an uphill task to get noticed. And if you do somehow get an investor to bankroll your dream project, you might still have to make some amount of compromise on your vision. To make the product commercially viable. But with crowd funding, you can do exactly what you want. Take the people for whom it is anyway meant into confidence and make a product that gives you enough reason to be proud of. And gives the end user enough reasons to smile about.