Here Are 5 Non-Financial Aspects Of Crowdfunding You Might Overlook

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Crowdfunding is always seen as a financial means to raise a physical amount for either a business, a social cause or to simply make a difference. The platform is synonymous to money and funds and for a long time now, it is what other people perceive it to be. An ingenious way to reach out and connect with other people to raise the money they need.

But if you look at the bigger picture, crowdfunding is more than just the money and the funds that people have been conveniently using it for. If you look outside the box, there are a few non-financial aspects crowdfunding has been giving society for quite some time now. It might take a little more introspection but the exercise can be rewarding and help you understand the platform even more.

In whatever you do in life, it is always better to understand what you are pursuing so you can make the most out of it. If you are buying a car, it is not enough that you know how to drive but you also need to have an idea on what you need and what the car you are buying can offer. Same with a smartphone or a laptop and even a camera – you need to have a good understanding of what you are getting yourself into to make the most of it.

Crowdfunding is more than just money

That being said, it could be quite surprising from some people to read that social funding is not entirely about funds. Here are a few non-financial aspects that makes up the platform.

  • Nurturing relationship. One of the things that people often overlook is how the platform helps stakeholders nurture relationship with each other. Project initiators and investors are able to talk to each other even before they formally start their business relationship. This gives each side the chance to start off early and on the right foot and be able to nurture a professional relationship.
  • Connecting  with people. Crowdfunding helps people connect with one another regardless of boundaries. When you start a social funding campaign, you might be able to speak to someone in another country and get insights on how your business might fare in another market. It could also connect you with like-minded individuals which you can later work with to bring your idea to the next level.
  • Chasing dreams. The industry allows startups to finally chase their dreams and not be limited with their financial need. It is not always an assurance that the platform will yield the results they are looking for but it is better than not having any option at all. This hope can be enough to fuel their desire to make it big and make a difference.
  • Making a stand. There are instances when crowdfunding helps people commit to a particular cause or belief. There are social issues or events that shape the world and people are known to take sides. Crowdfunding is like a giant banner that people take up and wave around as they choose to support particular projects close to their hearts and belief.
  • Making things better. There are projects that simply wants to make this world a better place to live in. There are those that are looking to find a cure for a disease, give a community the access to livelihood projects and even give farmers the water they need. 

 

 

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

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