Avoiding Crowdfunding Scams-Some Suggestions
There are a lot of things which can go wrong when it comes to crowdfunding. You are not certain that you will get all the money you pledge on a specific campaign like Kickstarter or Indiegogo even if they might seem like the real deal. A lot of the crowdfunding sites only need that the people creating them provide some assurance that they will deliver on their promises. Thus, they cannot face any repercussions if their project does not deliver on time or does not even deliver.
Between the funding of a project and the delivery of the results, there are numerous things which could go wrong. The creator might not have indicated the right time they needed to complete the project. The failure of some projects might be due to some difficulties in manufacturing or the owner mismanaging the lots of funding received. In other cases, things go wrong despite the creator of the project giving their best. Therefore, there is always some risk involved when crowdfunding a project. But, below we discuss some tips that can help you in making smarter choices when supporting crowdfunding projects.
Some ideas are much easier to implement than others. When you see a creator asking for funds online for their project, you have to assess the idea carefully to see if it is easy to implement. Search for real pictures of the actual product. You have to be careful in case all you see are rendering of the product. In case you observe that the project is complicates, it is likely to fail. But, this should not be the only factor you use to assess the validity of a project as the most complex crowdfunding projects are the ones that are most exciting.
Another pointer is researching the creators of the project. You should learn more about the individual you will be supporting if you will be giving them cash. Click on their profile on a social media website like Twitter or Facebook. Do not dare invest any cash in their project, if you do not see any personal or company profiles. If a person is not transparent, it says a lot about them. It is difficult for the creator to be accountable in case they remain anonymous. Conversely, if the project’s creator gives their personal information on the internet, it shows that they are confident and that they are willing to risk their reputation.
After evaluating their details, you ought to learn more about their past successes. This will assist in knowing if the creator can finish the project on time. The likelihood is high that they will succeed on a new project in case they have developed or manufactured something in the past.