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Sunday, May 10, 2015

Crowdfunding For Women Owned Products And Services

By Alta Alexander


Men and women alike often have great ideas for a product or service. Crowdfunding for women websites now offer women the ability to support one another through establishing various campaigns oriented toward funding a product or service. Generally, these small business applications, products and services sit on shelves and never see the light of day. So, while men often succeed through more traditional channels, women now have a chance at establishing a business, product or service without discrimination or degradation from businesses who only support men in these areas.

Unless all individuals associated with a campaign understand the process, success may be quite limited. Generally, individuals can post a plan to establish a product or service which needs financial support. Once posted, others interested in supporting the project then donate an unspecified amount of money through a secure networked website.

Many of these women oriented sites have now seen twice the success as others in the industry. While others have seen success, one of the most successful related to women in business is that of Pine Alley. Most likely because it is one of a kind in its funding, development and deployment of products and services established by and for women but in which men can also provide funding.

While men are allowed to contribute, these sites only accept campaigns established by women. In addition, while men can and often do provide funding, the main focus continues to be in relation supporting other women. Still, as all donations are appreciated the women behind these projects appreciate all the support regardless of gender.

Most women oriented funding sites create an easy path to setting up a campaign. In fact, most provide step-by-step instructions on set-up through completion. Whereas, some even provide business consultants which can provide ideas and services either free or for a nominal fee. The best of which provide this opportunity of counseling on an ongoing basis when it comes to questions or issues which may arise over the course of the campaign.

As these sites also benefit financially, most are happy to share information. A number offer tips and tricks on how to raise money by using the best tools available. These tools generally assist in set-up, management and completion. One important aspect of any campaign or project is that the individual have a great deal of knowledge related to the product or service to be funded.

If not, the project may never make it past the initial start-up phase. When this is the case, those having donated funds generally expect to have monies refunded. That is, unless there is an upfront agreement which states the individual forfeits such funding even if the project is canceled over time.

While this type funding is now quite popular with those whom work online, others without online access still have other options. Some of these include applying to shows like Shark Tank, talking with a Small Business Bureau representative or borrowing money from a private investor. Of course, the better presentation, credit and reputation one has upon requesting this type funding, the more likely one will be to obtain the monies needed for the development of a product or service oriented business.




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