Using Social Media to Crowd Fund

What is crowd funding?

Crowdfunding is a term used to describe a collective of people who lend their attention and trust to cooperate and network.  They contribute money into a pool, usually online, in order to support the efforts of a person or organization.  It can be used for a variety of purposes including raising funds for medical expenses, student tuition, memorial funds, and political campaigns.  


It has been used in a non-technological way in communities for thousands of years.  It is people chipping in what they can affort to help a person or a cause they trust and believe in.  The old version was "pass the hat" and was often done at local churches and community centers. 


 Crowdfunding is the technological way to pass the hat to your online community.  It has benefits and downfalls.  One benefit is that you can reach everyone in your network at the click of a button.  The network is infinite, and as long as people keep sharing your cause with their networks, the possibility of reaching your funding goal is high.  The downfall is that the word doesn't spread itself.  You need to be committed to sharing your cause, and encouraging others to share it too.


This is the manifesto of Crowd Funding, written by Alberto Falossi, February 2010

Crowdfunding is based on the following principles:

1. Your Friends Are Your Capital

Your social network friends and contacts can help you to raise capital.

2. Your Friends Make Your Dreams Come True

Any of your contacts can make a contribution, no matter how small.
Together they will help in achieving your every wish, project, and dream.

3. Your Capital Depends on the Number of Friends

Many contributions can build big capital.
The more contacts you have, the greater your chances of reaching the amount you need.

4. Your Capital Depends on Trust

Contribution doesn't happen automatically. Even if you contact a large number of people,
you must still gain their trust, especially if you don't know them personally.

5. Your Capital Grows by Word Of Mouth

Your friends can contribute by giving money, but also by spreading the word.
This will help your social network grow, and increase the probability of reaching your goal.

by Alberto Falossi, February 2010

Start crowdfunding now.


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