Many of you have already heard of crowd funding – a way for start-up ventures to raise money without going through venture capital firms.
There are several crowd funding sites on the internet where you can explain your business venture, how much money you need, and what the investors will get out of it. Then sit back and wait as people from all over the world contribute, in almost any amount from $1 to hundreds of dollars.
Some very successful projects have come out of this. However since the backers are often regular people and not sophisticated business investors, crazy things can happen such as…
Zack Danger Brown from Columbus, OH decided to seek funding on KickStarter to make… wait for it… potato salad. Yep – his goal was to get $10 to make potato salad.
So many people were amused, that to-date he has raised $49,107 from 5,955 investors!!! Check it out at Zack’s KickStarter page.