Is crowdfunding the best way to start a certain project?

Crowdfunding has become a popular method for businesses to raise funds, and it’s widely used across various industries. Many businesses successfully leverage crowdfunding to bring their projects to life.

However, my approach has always been to fund projects with my own money, avoiding loans from third parties or financial institutions. This path is undeniably more challenging, requiring a significant boost in my sales skills and continuous personal outreach. Despite the difficulties, I find the dependence on other people’s money through crowdfunding somewhat uncomfortable.

It’s important to note that relying on external funding doesn’t preclude the success of a project or business. Many renowned companies, like Google and Facebook, as well as numerous small businesses, have thrived thanks to external investments. However, the reality is that most crowdfunding campaigns fail to reach their initial goals, leaving many backers disappointed and without the promised product or service. This underscores the risks associated with crowdfunding.

As billionaire businessman Mark Cuban famously said, “sweat equity is the best equity.” The effort and dedication you invest in your project are invaluable and often more reliable than external funding.

Ultimately, you should choose the funding strategy that works best for you. If crowdfunding aligns with your goals and you achieve success through it, that’s fantastic. I genuinely wish you all the success and happiness in the world. My intention is to offer an alternative perspective on funding a project or business, highlighting that it’s possible to achieve success without relying on crowdfunding platforms.