People Funding People: BlessABuck Making Dreams a Reality
I’m a stay-at-home mom with an excellent idea but I cannot afford to market it. I’m a youth center that wants to raise money for impoverished kids to go on a field trip. I’m a small start-up company on a shoestring budget which needs additional funding to help grow the business. So what do I do to make it happen? How do I obtain the funds needed in order to see my dreams actualized? Here’s where BlessABuck comes in. Launched by Las Vegas-based creative digital company, ShoutLegacy, BlessABuck is a crowdfunding website designed to assist entrepreneurs, charities, small businesses and start-up companies see their ideas, products and philanthropic aspirations come to fruition. In other words, BlessABuck helps those dreams become a reality.
How does BlessABuck work?
Crowdfunding is an innovative way to receive funds for an idea as the “crowd” determines which idea or campaign to “fund” by contributing a given amount of money. – BlessABuck
BlessABuck allows you to create a fundraising campaign for your charity, business, product or idea. There are no fees to sign up, create a campaign, or contribute to a campaign. Those services are free! There are fees, however, on any money raised, which is 6% if you meet your goal or 8% if you do not meet your goal. BlessABuck does offer discounts to registered non-for-profit organizations. Please see more information on pricing and fees by visiting their website.
Once you’ve signed up and have met BlessABuck’s criteria, you can begin creating your campaign. Not sure about creating a campaign? No worries. You can download Campaigns 101 from their website for free. This will give you great tips and information on how to generate a successful campaign. Once you’ve got that started, BlessABuck’s team of experts will be there to help you build and promote your campaign by using their marketing, business and design acumen.
Why use BlessABuck?
Culminating with the rise of social media and booming start-up ventures over the past decade, the dollars raised from crowdfunding increased from $530 million in 2009 to $2.8 billion last year. – USA Today
According to Michael Durant, Creative Marketing Officer for BlessABuck, there are several advantages to using their website as a gateway for raising funds, one being the popularity of social media marketing. “People are looking for ways to build their ideas and dreams and no longer look to the old ways of doing things, like going to financial institutions,” explains Durant. Knowing that social and digital media connection is more commonplace, Durant understands that there is a greater opportunity for entrepreneurs, charities and small businesses to grow and become financially successful by using those vital social and digital media platforms. “We give them the opportunity to prove themselves and connect with others,” says Durant, “then they look even better to venture capitalists.”
Another benefit to crowdfunding is raising much needed capital without acquiring an investor who will eventually own part of your business. “As an entrepreneur or small business owner, I’d give a chunk of my company away to an investor but through crowdfunding, none of that ownership will go towards whoever funds me,” says Joe Sanchez, Chief Technology Officer for BlessABuck.
Who can request a campaign through BlessABuck?
BlessABuck is a “people funding people” crowdfunding platform focused on innovative ideas, products,and social good. – BlessABuck
Anyone from anywhere can raise money for anything according to BlessABuck. However, Sanchez stressed that their crowdfunding website is all about social good. “If your project has a social good element, you’re on BlessABuck,” stated Sanchez.
How can I contribute to a BlessABuck campaign?
Crowdfunding is sweeping through the bookstore business, the latest tactic for survival in a market that is dominated by Amazon, with its rock-bottom prices, and Barnes & Noble, with its dizzying in-store selection. – The Boston Globe
You can financially contribute to any campaign at BlessABuck but know that your contributions are only tax deductible for those that are designated as a nonprofit campaign. Also, there may be incentives depending your level of contribution. For example, Honor Flights of Southern Nevada currently has a campaign to raise money to send all of the Southern Nevada World War II Veterans to see the monuments in Washington D.C. dedicated in their honor. Depending on the pledge amount, a contributor will receive a personal thank you letter or both a letter and a t-shirt.