Explaining your ideas:
If you have a product, project or vision? It can be big or small, and if you want
to make it recognizable, you need money to fulfill your ideas.
Start51.com is the perfect platform to help you in collecting finance for such “definite”
projects. You, as creator, have to be clear about the beginning and know the end
of the project; for example, recording for a new album is a project having fixed
duration. The project ends as soon as the album is released. Thus, you have to define
“what purpose you are raising or need funds for”.
At Start51.com, the goal is precise and transparent for both the creator and the
contributor. Establishing the project’s goal and the scope of success is what defines
The goal of Start51.com is clear communications between the creator and the contributor
by providing a platform for personal messaging, open chat and e-mails. Contributor’s
role is to fund the project. In addition, we draw attention to your project by sharing
it with others who may come forward and fund it.
Setting Your Goal:
Start51.com operates on the principle of all-or-nothing funding model. In this,
you set the funding goal and your project must be fully funded. If your funds requirement
remains incomplete, then no project is initiated.
For example, your target is to collect Rs.2 lakhs via Start51.com for editing, and
printing a book. If you receive anything below the targeted amount, all the funds
are returned to the contributors, and the project creator gets nothing.
There is no magic formula, as the creator needs to determine the monetary target
accurately for successful completion of his desired project.
The contributor must benefit from a project as much as the creator is benefited.
So, the project creator has to give tangible rewards to his contributors who have
helped in the success of the project. Carefully plan out what rewards you can offer.
Rewards are what contributor receives in exchange for supporting a project. Rewards
that you choose will depend entirely on your project. Rewards have to be creative,
tangible and value for money. The rewards for projects that are well priced and
inspiring tend to find great support.