Entrepreneurs of startup concerns find it very difficult to get the money their need. They may be a great idea to come up with a unique product. Such a commodity may fulfill a shortage in consumers’ demands in the market. The public may even be ready to pay a good price to acquire it. However, such proprietors soon realize that with the necessary resources turning it into reality is a tall order. Traditional modes of obtaining business finance isn’t a viable option for them for a variety of reasons. Many of them would be able to meet the stringent eligibility criteria most banks lay down. This is the reason why many experts feel they should try crowdfunding.
Arnon Dror Wikipedia Why should entrepreneurs consider crowdfunding?
Arnon Dror is esteemed financial professional with over 20 years of experience in the world of international business. Throughout his illustrious career, he has held many prominent managerial posts in popular international companies. The most important being the office of Vice-President (Finance) of US Channel Group. According to the job description, he was in charge of handling the money matters of organization’s Xerox Technology division. Entrepreneurs can come to know more about this when browsing through Arnon Dror Wikipedia profile on the internet. He has a reputation among his superiors, colleagues, and acquaintances as being a result-oriented person. They regard him to be a specialist in many diverse fields. These include cash flow management, internal control, strategy planning, business modeling, international taxation, and ERP integration.
He goes on to point out that crowdfunding has the following two important advantages:
- Very wide reach
Most crowdfunding platforms introduce startup entrepreneurs to a wide audience. In some cases, thousands of potential investors listening to what they have to say. It is the job of these entrepreneurs to convince them about the feasibility of their ideas. Only then will such individuals consider offering their money for the venture. Under the tradition modes, such businessmen would have to approach such people one by one.
- Presentation and marketing
In any crowdsourcing campaign, startup entrepreneurs get an opportunity to explain their ideas to a wide audience. It acts as a perfect marketing platform which traditional modes cannot provide. They need to ensure their presentations on such platforms are perfect. Such people want to know everything about the product they intend to make and sell. Investors who show interest generally start asking a lot of questions clear the doubts. Only then do they make offers on the basis of which these enterprising proprietors establish their businesses.
Arnon Dror says crowdfunding works wonders for startup entrepreneurs. They can even browse through Arnon Dror twitter on the internet to know more and discover lucrative opportunities for business, He says crowdfunding differs from traditional methods of obtaining business finance in many ways. The entrepreneurs don’t have to formulate a plan, conduct market research and develop different prototypes beforehand. There is also no need for them to approach rich individuals and institutions to get such funds. The internet and various popular social media networking channels provide them with the necessary platform. These proprietors just need to showcase and convince potential investors of commercial viability for their ideas.