Crowdfunding

Many things make it successful, keeping the momentum going, making sure people know about the crowdfunding, on the upside it is a very easy way to donate to projects that fall by the wayside in central government or grant aid funding priorities.ive seen that its been useful in quickly getting money in after vandalism spates at heritage railways where time is of the essence, as with fast news social media and viral headlines, the money will flow only as long as the headlines are running the vandalism story or that it's on the trending page. On the downside of crowdfunding, there's no guarantee that the money will be used for the stated purpose, the crowdfunding could shutdown and no explanation is required to be given, as you have donated that money freely and crowdfunding is outside of the majority of charity laws I believe. In the product market crowdfunding is a little more controversial than in the heritage railways sector, you often have large businesses that already have the capital but are still crowdfunding anyway as a marketing tool and to create hype for a product. And the product doesn't often live up to expectations. googles juicero is one of these products

 

What appeals to me to contribute to an appeal:
A rational, objective, comprehensively researched and well presented business case for the project, demonstrating that it is likely to succeed.
A clear gap / need in the preservation market for the project.
Evidence that its promoters have had the conviction to put their own financial balls firmly on the line before trying to fleece anyone else.
Evidence of back-up from established, knowledgeable preservationists that the project is worth pursuing.
A clearly explained strategy of what will happen to the money.
Not regarding setting up a Facebook page as a vital part of the process.

What doesn't:
People who clearly want to use other people's money to set up their fantasy 12":1ft scale train set where they will be The Big Boss.
Tactics that attempt to 'guilt' people into contributing.
The phrase "the possibilities are almost endless" without any hard, objective evidence to back up the assertion.
The dreaded phrase "community railway".
'Facts' plucked from thin air about how much good it would do / how desirable it is.
Drivel.
Lack of clarity and accountability about exactly what happens to the funds, whether the appeal is successful or not.

 

Couldn't have put it better - absolutely spot on.

If only certain people would actually listen to this kind of advice.....Stu*cough cough*

Keith