BizSugar.com › Raising Capital › What’s Your Crowdfunding Contingency Plan?

The chance of failure should not deter businesses from crowdfunding, but rather inspire them to plan thoroughly enough as to trudge through the worst scenarios. We know that not all campaigns succeed and that lack of foresight is a reason why, so project creators need sound marketing more than ever. Enter the crowdfunding contingency plan, a strategy used to predict and brace for secondary outcomes. It is an essential risk management component, most often used by businesses and governments; but the idea fits the crowdfunding mold too. Implement a crowdfunding contingency plan by covering the bases listed below.