We’ve all heard the words “If I had a nickel for every time” to go along with something happening over and over again, but what if that could be reality? Once all those nickels have added up, you’d probably end up with a large sum of money. That’s the beauty behind micro funding. There are many online sites that draw a mass audience through various social networks in order to attract many small donors. The point of micro funding is to add up many smaller funds rather than search out for a few large funds in order to reach your desired monetary goal. The outstanding popularity and use of different social networks make micro funding possible for many different people, organizations, and businesses.
Micro funding has changed the way people see donations or support one’s entrepreneurial endeavors. Don’t feel guilty if your contribution doesn’t seem like much. Micro funding relies on the collective efforts of small donors to make a big impact together. Obviously sizable donations aren’t turned down, but there’s usually not a set minimum. Donors come in all shapes and sizes so being creative about reaching all possible donors is one of the keys.
In order to fully benefit from the practice of micro funding, you need to understand how to market yourself. Exercise your brand by blogging, being active on social media, strategic partnerships, anything that will help you target your audience. If you can sell your idea to a large audience for a buck or two, here and there, you’ll be pleasantly surprised when all of that starts to add up. It also feels incredibly rewarding to know that despite the small donations, your business or endeavor was fueled by many supporters. Collect those small rewards and run with it!
By: Laurel Mintz