Indiegogo is a popular crowdfunding platform that enables entrepreneurs, creators, and innovators to bring their projects to life by raising funds from a community of backers.
Yet, if you’ve ever explored Indiegogo, you may have come across the checkout warning on their website that crowdfunding is not shopping.
Let’s explore what it means for both project creators and backers.
The Essence of Crowdfunding
We must first recognize the core principle of crowdfunding. It’s not about buying a finished product off the shelf. Crowdfunding is a unique journey where backers are more than customers; they’re champions of innovation. When you back a project on Indiegogo, you’re not shopping; you’re investing in a dream. Your contribution is more than a transaction; it’s a pledge of support for innovation.
Embracing the Unknown
Unlike shopping, where you expect a predictable outcome, crowdfunding invites you to embrace the unknown. Creative projects can be unpredictable, filled with challenges, changes, and even the occasional hiccup. Indiegogo’s stance underscores this dynamic nature, reminding backers that they are part of an evolving journey.
Project Funding
Indiegogo projects can set funding goals as a minimum requirement for the project to proceed (known as ‘Fixed Funding’). If the goal isn’t met, the project may not happen, and backers will be refunded. This is an important note that early backers (those who fund the project before it hits its goal) ought to be aware of.
Managing Expectations
Indiegogo’s assertion that crowdfunding isn’t shopping serves a purpose – it manages expectations. It reminds both creators and backers that creative projects have their unique timeline and set of challenges. It encourages patience, understanding, and a shared commitment to the project’s success.
Crowdfunding may not offer the instant gratification of shopping, but it offers something that many crowdfunding supporters believe to be more profound – the chance to be at the forefront of innovative, game-changing creations. It’s not shopping and your product isn’t guaranteed, but that’s why most Indiegogo campaigns offer significant discounts versus the price their product will sell for once on the market. In exchange for the risk, you’re getting a sweet deal.
