Between 2011 and 2012, the global crowdfunding industry doubled in size. In 2013, it touched the $5 billion mark industry net worth. And since, the industry has only grown, with about 600 crowdfunding platforms operating in North America, Europe, and Asia (and a scattering of them in the other continents). India is one of those countries where the crowdfunding platform has succeeded as a business idea with ambitious young entrepreneurs, and new platforms are mushrooming every week. Not all do well, but given the geography and socio-cultural milieu that is characteristic of our nation, there are reasons why starting a crowdfunding platform makes plenty of entrepreneurial sense.
Low investment venture
First things first, it is less expensive to start your crowdfunding platform venture than it is to go into business in retail, manufacturing, or even setting up a full-fledged NGO/NPO. Aside from your overhead costs, you can start with a small team of marketers, writers, and web developers who will design and improve your website. Since crowdfunding is done online, and most customer interactions are over email, text, or phone, you have the choice of working out of any office that has internet connectivity, including a makeshift home office in your initial months.
Doing good in the world
Next, running a crowdfunding enterprise lets you help a vast body of have-nots in direct ways. You host campaigns on your site (once they pass the due diligence process) and offer people a platform to raise funds for a myriad different causes, ranging from the artistic to medical and a lot of others in between. Had you not been an enabler, and had you not done high-quality social work empowering masses to solve their problems, a lot of your campaigners’ dream projects, or the ones driven by necessity, would never have seen the light of day.
Building strong relationships
Which brings us to another point. As someone who founds and runs a crowdfunding platform, you put yourself in a place that allows you to have relationships of goodwill and amity with both your donors and campaigners. Every campaigner, whether they are expressive about it or no, will have pure gratitude for you in their hearts, and this is of greater human value than any perk a corporate career could offer you. What better job satisfaction can you think of?
Changing lives, changing worlds
With a career as a crowdfunding entrepreneur, you push for and drive social impact, at individual and collective levels. You leverage the combined weights of technology, the internet (particularly social media), and people’s human empathy to make positive change in the world. Through your crowdfunding activity, you support philanthropy and create opportunities for givers to contribute money, labour, time, or a combination of these resources, for the greater good. You are placed in a position that exposes you to stories of tremendous resilience, and the fact that there are still people in this day and age who spend their lives on crusades to change the world.
For these reasons you should consider starting your crowdfunding platform.