What is a Funding Goal?

 

The Funding Goal is the amount of money that a the Entrepreneur needs to complete their project.

We have both Flexible or All-or-nothing funding options.

What is an All-or-Nothing funding option?

 

No one will be charged for a pledge towards a project unless it reaches its Funding Goal. This way, Entrepreneurs always have the budget they scoped out before moving forward. It reduces a risk and motivates the crowd to take part. If people want to see a project come to life, they need to participate in early stage product adoption and spread the word to create crowd velocity.

It's important to remember that Crowd Velocity is built on integrity and rewards based funding system. No one is charged until a project meets its funding goal and the funding period ends. This gives backers time to fully evaluate a project, and it also gives our Integrity team some time to look into any concerns raised by backers.

What is the Flexible funding option?

 

Funds being taken out from the backer at the time of commitment, but is not distributed to the fundraiser until certain minimum amount it reached. This function can be used to raise money in tranches. This feature is also useful to collect donations for social projects or to be able to distribute ready available products to the backers.

What are rewards?

 

These are a creator's chance to share a piece of their project with their backer community. Typically, these are one-of-a-kind experiences, limited editions, or copies of the creative work being produced.

How do I make a pledge to the community members?

 

Making a pledge should be your core focus to pitch to the specific user of our community. Make few level of pledges for basic and premium version of your product or service. Early adopters will focus mainly on your product or value add of your service. Make it attractive for Early Adopters to commit funds to your project and make it easy for your message to spread.

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