Financing a project -website, in the case

Hi!

First of all, I'm well aware that this isn't exactly the scope of WPMU, but since you guys work in the area, I'm failry sure you can provide me with valuable information on how to get a site financed.

I myself have some experience with getting cash through affiliate programs and such, but I wouldn't say that's exactly "project financing". I'm talking about things like crowdfunding. The best companies I know in the field are Kickstarter and Indiegogo. Kickstarter doesn't accept projects from Brazil (even though my site, including the domain name, is fully hosted by GoDaddy in the US, I'm a Brazilian citizen) and, if you don't meet the financial goal you've set, they keep all the money, which in my opinion is just absurd, to say the least. Indiegogo, on the other hand, accepts projects from Brazil (my site isn't meant for any specific region, but anyway) and keeps just 9% of what you managed to get if your project doesn't meet the goal you've set for it. That being said, I'm very interested in knowing more information on the whole "getting your project financed" field. If people from the WPMU staff and/or just WPMU members could share their experiences about it here, that would be really great, and I'd deeply appreciate it. :slight_smile:

Regarding what my website is: putting it as simple and straightforward as possible, it's a social network for e-commerce, for free -users don't pay anything to sell their products/services, there's absolutely no percentage deducted from the sales. The site offers its user the ability to create his/her own store (obviously), open auctions, create groups to bring together other users with a common interest for a specific type of product, it has group and individual live chats available, users can build and connect with a network of vendors/customers, among many other things.

That's it. I'll be happy to know your experiences with financing a project. :slight_smile:

  • Tyler Postle

    Hey Gabriel,

    Hope you're doing well! As you mentioned, not exactly the scope of our support and not something I have a ton of experience with myself. However, in a past business that I did need funding for, I went to my bank and got a small business loan. Perhaps that could be an option?

    Pitch your idea to friends and family, perhaps they would be interested in investing in you :slight_smile:

    A service like Indiegogo as you mentioned, is another option you can try.

    I'm not sure about in Brazil but you could see if there are any government run small business loan programs.

    You've probably already searched, but there will be a ton of articles online about this sort of stuff too that could give you some ideas :slight_smile:

    Hope that helps Gabriel!

    Cheers,
    Tyler

  • Wheel of Commerce

    Thanks for answering, man!

    I'm aware of bank investments on small businesses, but I'd be taking the risk of ending up in debt with the bank, so I'm really not considering this option -same goes for the programs backed by the government here in Brazil.

    I'm thinking on setting up a page for donations on my site, and keep it available while the coming soon mode is on, this way I can get the money I need without having to wait for any dates stipulated by Indiegogo or any other crowdfunding site, as I'm not sure if I could take the cash from these sites as it comes, contrary to what happens with a simple donation system built on my site itself. I know you guys have a fundraising plugin, I've looked it up and it seems pretty good. I know this sounds like a nonsensical, but as I've been surprised with this sort of thing before (and I didn't find that info at the plugin's page), I have to ask: with WPMU Fundraising, can I get the cash directly into my bank account, or does it only work with Paypal and credit cards?

    If you, or anybody reading this, have experience with advertising in the internet, I'd be glad to know more about it. Like I've said, I myself have experience in getting cash from affiliate programs, and I'm also aware that people even use sites like Reddit to advertise their projects, but then again the more information I have on this whole fundraising part, the better.

    Thanks again, man! :slight_smile:

  • Tyler Postle

    Hey Gabriel,

    Right now Fundraiser supports PayPal and a Manual gateway(cash or cheque).

    So there isn't a gateway where the money goes directly into your bank, you would need to use PayPal and have it go into your PayPal account where you could then transfer it to your bank.

    As for advertising, perhaps some of our members will be able to chime in on that, many of them likely have more experience in advertising than our support team does. That's another one you could search for around the interwebs as well, will be tons of information available. Not that I want to direct you away from us, but you will be able to find more specific information as far as the marketing/advertising side of things go :slight_smile:

    If you have any further questions just let us know.

    Cheers,
    Tyler

  • Wheel of Commerce

    You're absolutely right about Paypal, I've just checked it with them. I've been using wire transfer to get deposits for so long now (it's cheaper than Paypal here in Brazil) that I completely forgot I can send the money from my account with Paypal to my bank account. Don't know why I remembered the cash could only be sent to a credit card.

    Anyway, thanks for the help, man. :slight_smile:

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