Wednesday, December 8, 2010

Fan-Funding and Donations

Typically I write about how small to medium businesses can raise capital. That's my area of expertise. I don't typically help business start-ups. I know how to take something that's already in existence with at least some customers and operations and think creatively and strategically to access funding.

However, every once in awhile I come across something I find interesting that may actually help start-ups. This is one. If you are a creativity-based business start-up, a concept called fan funding may be just what you need to tap into to get your enterprise up and running. There are websites now available that go far beyond the MySpace era.

If your idea or business start-up is related to fashion and design, check out Designers can go here and upload their collections along with their funding needs for production. Customers or others can "invest" (my quotation marks) $50 - $500 in the design(s) that appeal to them.

If your business is music-related (i.e., you are an artist or a producer of artists), check out Sellaband. Fans or wannabe fans can support their favorite artist(s) by investing in the music project. Fans can actually remove their funding commitment at any time BEFORE the funding goal is reached. After the goal is reached, the project is a go, so the money cannot be returned. Any return will be due to record sales (i.e., record royalties, live performances, etc.)

Happy fan-funding!

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