Avoiding Crowdfunding Scams-Some Suggestions
When it comes to crowdfunding, there is no such thing as certainty. 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. Most of the crowdfunding websites only require that the ones creating them offer some certainty 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.
There are many things which might go wrong between a project getting funded and the delivery of outfits. The person creating the project might have underestimated the right time they require to finish the project. Manufacturing problems might lead to long delays while a few projects might fail because their owners got a lot of funding which they mismanage. In spite of the project’s creator giving their best, some things still go wrong. Thus there is always a risk element involved in any crowdfunding 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 come across a creator asking for money online for their project; you should assess them well to see if they can carry out their idea well. Seek for real images of the actual item. If all you observe is the rendering of the product, you should take caution. If you note that the project is complex, there is a higher likelihood that it might fail. Nonetheless, this must not be only thing you employ to assess how valid a project is since several of the complex crowdfunding projects are the most exciting ones.
Another pointer is researching the creators of the project. If you will be giving someone your hard-earned money, you should find out more about them. Read their profile on sites such as Twitter or Facebook. Do not dare invest any cash in their project, if you do not see any personal or company profiles. You will know a lot about an individual in case they are not transparent. It is hard for them to be accountable in case the project fails if they are 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 assessing their personal information you must then find out more about what they achieved in the past. You can learn if the creator will finish the project promptly if you learn about their past successes. If they have successfully developed or manufactured something before, the possibility is high that they will succeed on a new project.