We’ve heard a lot about crowdfunding. It’s been a hot topic for several years, with its fits and starts. It took a long time to get Securities and Exchange Commission approval and the regulations in place to allow crowdfunding. But crowdfunding isn’t the only way to raise money.
Crowdfunding –raising monetary contributions from a large number of people to fund a project or venture – is one of the tools in the tool chest, and it may be a great tool in many cases, but in some other cases, it may not be. You need to look around and think about it as one of the tools available in your tool chest.
If you’re working on an automobile like I enjoy doing, you’re going to get the right tool for a particular job. Sometimes you need a wrench. Sometimes you need a set of pliers. Sometimes you need a screwdriver, and sometimes you need more than one tool. Sometimes a wrench that will work for one project may not fit in a particular location or work in a different place. You need to think about crowdfunding as one of the tools in your tool chest. It’s not the only way to get money. It’s one of the ways to get money. Think about your overall plans and objectives, and then tailor a solution to your needs.
What’s your experience? Have you focused on one way to get money? How would you raise money in the future? How are you assessing all the tools in your chest? Join us in the comments below.
Each case is unique. Past results do not guarantee future outcomes. This posting is intended to be a tool to familiarize readers with some of the issues discussed herein. This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique. Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity. FreeImages Photographer Goran Anicic.
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Posted In: Business ManagementAbout the AuthorR. Shawn McBride — is the Managing Member of The R. Shawn McBride Law Firm, PLLC. Shawn works successful, private business owners in their growth and missions to make a company that stands the test of time. You can email R. Shawn McBride Law Firm or call (214) 418-0258.