Tag: Crowdfunding

Creating a Travel Crowdfunding Campaign That People Want to Support

In recent years, more and more entrepreneurs have turned to alternate funding. One of the biggest methods of alternate funding is crowdfunding — a process that enables people to raise money through the internet, allowing them to reach much larger audiences than ever before. Its success as a funding method is shown in the numbers: in 2014 alone, approximately $16 billion was crowdfunded. Since then, the numbers have only gone up.

Today, crowdfunding is used to support a variety of enterprises, from starting your own business, to new innovations in healthcare. Crowdfunding is also used to raise money for personal endeavors, such as funding a semester at college or supporting a travel experience. For travelers and wanderlusters, this sounds like a dream come true: a bunch of people giving you money to travel the world. Now who wouldn’t want that?

It’s easy to drop everything and choose to crowdfund your next adventure, but not all travel crowdfunding campaigns are successful. Unfortunately, a lot of campaigns end in crushing failure and disappointment, with little to fall back on. It’s important to effectively plan and prepare your crowdfunding campaign, so that it is one that people actually want to support. Here are some tips on how to do just that.

Continue reading

Four Myths of Travel Crowdfunding You Should Know

Are you planning to go around the world, drink wine in Paris, enjoy the vibrant nightlife of Vegas, and finance the whole or part of the trip through crowdfunding? Think again! It is not as easy as it sounds. You need to run a crowdfunding travel campaign to raise funds. And it requires a lot of hard work before, during, and after the funding (fingers crossed) campaign to finance your world trip from strangers. Here are four myths for travel crowdfunding that you must know before you launch your first campaign:

You can Travel the World without Giving Anything Back

Most people will not buy you a trinket and expect nothing in return. With this in mind, you need to create something to give back to your donors. Make travel documentaries, provide free and unique travel tips, or put together images of various travel places in the form of a coffee table book or something useful for other travelers. So, before you ask for money, think of value you are going to provide to your donors.

Continue reading

Fundraising Extraordinaire: Crowdfunding as a Resume-Builder

Your crowdfunding experience should make you shine with pride. It is something that you should be able to list on your resume and discuss with confidence in an interview. Running a successful fundraiser campaign speaks to many valuable skills that can impress future employers. Don’t sell yourself short! These are just some of the marketable skills you will gain by running a crowdfunding campaign.

Financial Analysis

As you plan your campaign, you have to conduct an analysis to plan for expenses. Crowdfunding forces the campaigner to seriously determine how much money he or she needs to fundraise. FundMyTravel users must consider airfare, housing, program fees, travel insurance, and much more. Budgeting plays a role in every company, and if a budget is misjudged, this can cause serious issues. Accurately forecasting costs will earn you points with businesses and organizations who rely on precise reports to run a profitable operation.

Sales

While there may not be a formal exchange of a good or service, crowdfunding absolutely transforms the fundraiser into a salesperson. When you ask potential funders for donations, you are essentially marketing yourself. First, you are making a sales pitch; you are reaching out and asking people to invest in you and your experience. You must earn trust and credibility to prove that what you are doing is meaningful. To make the sale, you have to convince potential donors that you are worthy of their contribution.

Continue reading