How Procrastination Figures In Crowdfunding

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Crowdfunding is in its early stages in Southeast Asia as evidenced by various government agencies in the region just starting to take notice and action. They are now conducting talks and consultations with different stakeholders to come up with regulations and legal framework to oversee and promote the idea of social funding.

People across the region are also just starting to realize the enormous potential of the industry when it comes to reaching their target funding for business ideas or services. There are a few industry leading companies such as CoAssets who serve as an inspiration to up and coming companies that crowdfunding works for almost all kinds of business ideas even real estate.

But one of the biggest obstacles for all stakeholders of a crowdfunding is procrastination. Simply defined, this is postponing or delaying an act that can be done, started or accomplished today for another day. Just like how you put off that household chore because you just don’t feel like it and you leave it hanging for a few days.

The next thing you know, those pipes that you were just supposed to tighten up are already bursting under the sink or that lightbulb already died out at a time where all the stores are already closed. And then for others, there are family meetings or reconciliations that were put off for a few months only to miss the opportunity all together when that family member passes away.

Procrastination does not have a place in life, society and even business especially when you are trying to use crowdfunding to raise funds. You are appealing for other people’s financial support to help put together the amount you need and you need swift and decisive actions and decisions with it. You cannot just sit all day thinking of what if.

Crowdfunding converts those “what ifs” to “could be’s” but only with prompt action and well thought of project proposal. You will not realize the potential financial benefits of crowdfunding if you just sit in your couch the whole day surfing channels or the web looking at insignificant pieces of news or shows that would not help contribute to your goal.

Even after you have launched your crowdfunding project, you cannot expect to just put the minimum information needed and play the waiting game promising yourself that you will fix it later or tomorrow or get in touch with your friends day after tomorrow to let them know about the campaign you are running using crowdfunding.

You need to persist through this and act on the things you can accomplish today. There are some people who would say that you should not rest when you are tired but rather take a breather when you are already done with your objective. This does not mean that you should stay and manage your campaign 24 hours a day but have a plan on how to manage one of your biggest assets – your time.

Procrastination can lead to project initiators losing out on potential donors because they launched their project a week later and the backers chose another one that was launched earlier. The same with donors where choosing to invest their funds at a later time could result to lose of possible returns on their money as they wait.

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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 wish to contribute your story, you may write to [email protected]

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