1. It can be faster to raise funds than other types of traditional funding as it comes with little scrutiny.
2. It’s a very good way to test your idea among potential customers.
3. It helps with marketing your product way before it hits the market and thereby acquiring customers already.
1. You may get frustrated if your project does not do well on the crowdfunding platform which may not mean your idea is not viable.
2. It takes a lot of effort, resources, and funds to put together the materials you need to launch your project on the crowdfunding platform.
3. You risk someone else with funds stealing your idea.
The advantages are varieties of helpful feedback, open mentorship, and networks, opportunity to raise more funds that are required.
The disadvantages are delays in getting the right crowd, too many feedbacks that may confuse the system, funds being aggressive, and too many conditions to consider for growth
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