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The internet and social media have brought the whole world to our fist. Among online businesses, education, socializing, marketing, crowdfunding, and fundraising systems utilize this opportunity. Helping others who are in distress is the motto of this noble initiative. Helping friends or a community is the main principle of fund collection. Good to see others overcoming hardships and making their dreams come true. Finance is the major constraint when we try to make ends meet. It offers support to those who need emergency financial assistance. It is a breakthrough among other traditional fundraising concepts. 

Challenges in Crowdfunding 

Clients’ fulfillment

•  Offering too many options
•  Delayed delivery
•  No budget for freight
•  No budget for incentives
•  Untimely rewards

 Platform selection

•  Judging terms/ conditions
•  Estimating campaigning cost
•  Analyzing number/ types of visitors

 Miscellaneous

•   Copyright issues
  • Ideas got stolen
•   Managing Compliances
•   Accounting & Bookkeeping

Trust

•  Fails to meet target
•  losing investors’ interest in campaign
•  Poor/ no brand credibility

Targets/ Deadline

•  Goal-seeking/ achieving time
•  Setup right targets

Clients’ interest

•  Incorrect campaign/ interest building sequence

This fishbone shares knowledge about some challenges in crowdfunding. It is a simple template that provides information on the various problems related to raising funds.

Who should use the Challenges in Crowdfunding template?

• This analysis is advantageous to anyone who wants to understand the different issues faced by people going for crowdfunding.

Why use this template?

• Understand the different challenges in crowdfunding.
• Review, modify and reuse this template using smartQED to analyze the problem.
• Design your templates for any problem analysis in smartQED.

 Curated from community experience and public sources:

• Problems With Crowdfunding: 7 Hazards to Watch Out For | by Floship | Medium
• The Five Hidden Challenges Of Crowdfunding (forbes.com)