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Crowdfunding is a process in which a large number of people contribute small amounts of money to raise a large sum. The rudiments of crowdfunding have existed in India for a long time. However, organized and effective online crowdfunding in India came into being in the last decade.

Crowdfunding can help raise money for a lot of things. You can use crowdfunding to raise money for someone’s medical treatment, for social causes and for business ideas. There are four kinds of crowdfunding: donations based crowdfunding, rewards-based crowdfunding, debt crowdfunding, and equity crowdfunding.

Depending on the reason for your crowdfunding campaign and the type of campaign you choose, your strategy for the campaign will differ. Here I have tried to write down some tips for medical, social and business campaigns.

Medical Campaigns

If your fundraising in India project is for medical reasons, there are certain things that you can do:

  1. Find a crowdfunding platform that has experience in dealing with cases of medical crowdfunding. Impact Guru is one platform that does this.
  2. Write a fundraiser which is clear and short explaining why you need to crowdsource your medical treatment. Explain your financial condition and the nature of the illness.
  3. In your fundraiser, you should use text, image and video to explain your situation. Post pictures of medical documents in order to build credibility.
  4. Post a video of the patient delivering a message if they are in a condition to. Otherwise, find a way to talk about the illness yourself.
  5. Use social media and a team to campaign for publicity.

Social change is often possible through crowdfunding. Many NGOs have taken to crowdfunding in order to raise money for their various projects. This has become quite common after the recent government crackdown on foreign funding to NGOs.

  1. Choose a crowdfunding platform experienced with the kind of campaign you want to do.
  2. Write a fundraiser effectively detailing your project and what you want to do.
  3. If you have done projects like this before, provide links and other evidence to them.
  4. Fully use images and videos for your campaign.
  5. Make a campaign video that summarizes the goals of the campaign and post it with links everywhere.
  6. In order to make the campaign video, you can use professional help. This might require money but the returns you get on this will be far more.
  7. Use social media to the highest degree in order to raise money.
  8. Know the people who are likely to donate to your cause. If you are working for child rights, other child rights activists are likely to donate to your cause.

Things differ a little bit for business crowdfunding. Business crowdfunding is done with a profit motive and is very helpful for startups. If you want to raise funds for business crowdfunding, you should be able to write an effective crowdfunding pitch. You could go for equity crowdfunding or for rewards based crowdfunding, if you are not based in India. In India however, equity crowdfunding has been put on hold by SEBI.

  1. Find a website that is willing to host your crowdfunding campaign. Some websites are selective and some are not. Choose the ones you like and then select the one which likes you.
  2. Write a good pitch. Explain exactly what your product is going to be and why you think it has a market.
  3. If you are going for rewards based crowdfunding, explain why your product is unique and better than its competitors.
  4. If you are going for debt crowdfunding, explain clearly why you think you will be willing to return the loan with interest.
  5. Use social media to raise as much money as possible. However, do not exclude conventional forms of communication, when you go into campaign mode.

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Finance

Crowdfunding for leukemia

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Crowdfunding for leukemia

Cancer is one of the most dreaded diseases that human beings deal with now-a days. Although medical science has been able to come up with very early detection methods of cancer, it has not found a cure. There are various treatments that doctors use for cancer and these treatments are all improving day by day as more research is done on the disease. But medical science is nowhere close to removing the mortality risk from cancer.

At the same time, treating cancer is very expensive. Those who do not have medical insurance find it extremely difficult to fund treatment for cancer. They may try to take bank loans which they will pay back for years. Depletion of savings is another option that people who do not have medical insurance try. However, the advent of cyber culture and the explosion of online commerce has presented them with a new option: crowdfunding or medical fundraising.

Crowdfunding is the process by which many people contribute small amounts to a cause and achieve a large target amount. Crowdfunding has been a common method of funding treatment for a long time but has reached new levels of popularity thanks to the internet. There are plenty of crowdfunding platforms offering their services. Some of these ask for a service fee and some do not. The kind of platform you choose depends on your requirement. Since treating cancer is expensive, cancer crowdfunding has become very popular.

Leukemia is one of several blood cancers. It is essentially a cancer of the bone marrow that disturbs the production and lifespan of the red blood cells of the body due to the excess of white blood cells. Leukemia is likely to affect people over the age of 55 however, it can affect children too. In fact, leukemia is one of the most common cancer found in children. Children with leukemia need special treatment and care. People at risk of developing leukemia include smokers, carriers of HIV and HTLV-1, people who have been exposed to chemotherapy before. A common household product that has been correlated with incidences of leukemia is hair dye.

If you have been diagnosed with leukemia, your treatment would be decided by your doctor after a thorough examination. Depending on where you are being treated, your treatments costs can vary. Costs can range from anything between 2.5 lakhs and 20 lakhs. However, you need not shell the entire amount out of your own pockets. Similarly, if you do not have this amount, you can start crowdfunding for cancer treatment. It is easy and relatively simple. However, it will require a certain degree of persistence:

  1. Start a fundraiser on a crowdfunding site of your choice. Make sure that your chosen platform provides you with a campaign manager. We recommend Impact Guru because of their diverse range of experience with cancer crowdfunding.

  2. Once you have chosen your platform, you have to write your fundraiser. Make sure your fundraiser is clearly written and explains your problem to your audience. To substantiate your fundraiser, upload pictures of your medical documents and if possible a photograph of the patient. This gives credibility to your claims.

  3. Have a team ready to back you up. These people will help you with publicizing your campaign. Your team will also help you with the day to day work of the campaign. Hence, they need to be dedicated.

  4. If you think one fundraiser is not enough to raise the kind of money you are looking at, you might consider starting support fundraisers and asking others to share them. This way, you reach a greater number of people and have access to people from different social circles.

  5. You should contact other survivors of the illness who are financially stable and hence, can contribute to your cause.

There are other ways to raise money for medical crowdfunding. However, this is a basic list with which you should begin. Remember that despite all the hard work, medical fundraising is still low risk and zero investment and therefore a good option.

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Finance

All You Want to Know About Scottish Pension

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pension advice Scotland

Retirement is one of the most discussed and important aspects of one’s life. It is always better to secure your future before it is too late, so having a right kind of pension plan is very necessary. Scottish pension guide is the right source where you can learn about the right plans to secure your retirement time. As per the experts, it is always better to contribute sooner towards pension. There are many ways you can secure your retirement life through good pension as mentioned below.

Contribution Towards Pension

Nobody can set a limit of contribution from your side towards your pension but in simple words, you should invest how much ever you can afford, after all, it is for your retirement life when you will not having much income sources. Financial advisors, who are the experts of giving pension advice Scotland, always suggest that your money should not be invested in just one plan or scheme. Investing in different schemes meant for the long run will always give you a cushion of financial security.

Pension Scheme at Work Place

Most of the companies will have pension schemes in place, these schemes are one of the best ways to have good savings for your retirement. The best part of the work related pensions schemes is you will never feel the pinch of the contribution made from your side and your company will also be making a good share of contribution towards it. There are also options where you can increase the contribution towards the pension.

At the young age, you can handle pressure and stress given by the jobs and other circumstances, but you may not be having same strength when you are old. So, it is always to have financial security for your older age to have strength on your side.

Self Invested Personal Pension Scheme

Most of the people who don’t have the option of joining a pension scheme at the workplace or people who like to have an alternative source of financial security opt for private pension schemes or investment options. The main agenda of these different investment schemes is to provide you tension free time during your retirement time.

You can search the internet to get free pension guide and then choose the right scheme for your retirement.  There are many people who don’t take pension schemes so seriously, but they regret later, so instead of regretting later it is better to contribute towards your pension at the earliest.

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