What Can Crowdfunding Learn From The NBA Season?

Crowd Funding. Internet Concept.
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Crowdfunding is still in its infancy stage especially in Southeast Asia but there are a lot of ways people can strengthen their projects. One of them is looking at the global phenomenon NBA which is actually starting a new conference with the pre-season games happening this month. The pre-season games helps players and the coaching staff get a feel of how other teams prepared for the games.

The NBA has been the global benchmark of how basketball should be and would make James Naismith proud of his invention. There are also other global basketball leagues such as the Fédération Internationale de Basketball or commonly referred to as FIBA but the NBA seems to trump all the rest when it comes to popularity and to a point, talent.

With the stature of the NBA, crowdfunding can learn a lot of things from it and how the individual teams prepare to be a success on the league and around the world. Crowdfunding is just starting to penetrate the region but the potential is massive that governments are beginning to look at how they can regulate some platforms.

Social funding learning from a basketball league

One of the things that social funding can take away from the NBA league is that the teams put in a lot of effort to prepare for the season. The players individually prepare their bodies for the rigors of a full season. The team’s coaching staff will chalk up great offensive plays and defensive strategies that will fit into the team’s strength and weaknesses.

The same goes for project initiators where work will start even before the project goes live. They need to get everyone on the same page and doing what they need to do. They also need to put together a comprehensive marketing plan that will help propel the idea to greater heights with crowdfunding at the center of it all.

It is also great to see the players when they are already in the game and they know what to do exactly with any given situation because they prepared for it. The same goes for crowdfunding where project initiators need to put their preparations to work. The team needs to know what they need to do to get the job done.

The NBA league, players and the team goes out of their way to thank their fans who continuously supports the game. They go out to the community to make sure that they connect to the people. Crowdfunding can follow the same route when it comes to their donors and investors. They need to understand the important role these investors play in their quest to get their business idea off the ground and running.

It is also inspiring to see how the team puts in teamwork before their own personal gains. They are all talented individuals but they ascribe to something bigger than themselves – the team. Social funding can follow the same concept and look for ideas that does not only benefit themselves but the society in general.

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This article is written by the Crowdfunders Editorial Team. Crowdfunders.Asia is Asia’s leading portal on crowdfunding, property, start-up and business related news operated by CoAssets.com. CoAssets.com is South East Asia’s first real estate crowdfunding site. If you have any Crowdfunding news or stories to share, please email [email protected]

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