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© 2017 by Počni, ba

This is the website of the Počni, ba: Crowdfunding u Bosni i Hercegovini initiative. It is a location where all information intended to be public can be published and promoted. Počni, ba is an Initiative driven by young staffers of the United Nations (UN) agencies in BiH who contribute with their time and energy on a voluntary basis. It is supported and financed by the UN agencies in BiH, but the views expressed herein are those of the Počni, ba and do NOT necessarily reflect the views of the UN or any other agency of the UN BiH.

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September 2, 2017

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Crowdfunding Glossary.

September 2, 2017

 

 

A new vocabulary has built up around crowdfunding. In order to read about crowdfunding and to understand what you are doing you need to understand the language that is used. Additionally, different people sometimes use slightly different terms when talking about crowdfunding - for example, some people say ‘backers’ others say ‘funders’. Počni, ba! created this glossary to help.

 

¤  All or nothing funding:

 

This is sometimes the only option on some crowdfunding platforms. With this option you only get the money if you reach your goal. If you don’t reach the goal you will get no money and none of the people who backed your campaign will pay anything. For example, if your target is $10,000 and you reach $9,897, you will get $0 and your backers will pay $0. Choose this option when there is an absolute minimum amount of money that you need to complete your project. This is sometimes also called fixed funding.

 

¤  Backer:

 

A backer is someone that contributes funding to your campaign. They are sometimes called contributors or funders.

 

¤  Crowdfunding campaign:

 

A specific instance of utilizing crowdfunding to seek funding for a particular project, business, idea, event, etc. A crowdfunding campaign will usually have a set start and end date. This is typically between 30 and 60 days, but can be longer or shorter.

 

¤  Campaign owner:

 

The person raising funds through a crowdfunding campaign is a campaign owner.

 

¤  Campaign update:

 

This is a message sent directly to all of your funders/backers/contributors simultaneously to inform them of progress in the campaign. You should aim to update at least once a week so that your backers stay informed.

 

¤  Crowdfunding: 

 

Crowdfunding is the practice of raising money for an idea, project, startup, or initiative from a large number of people who typically each give a small amount of money. Crowdfunding is frequently facilitated by crowdfunding platforms.

 

¤  Contributors:

 

A contributor is someone that contributes funding to your campaign. They are sometimes called backers or funders.

 

¤  Crowdfunding platform:

 

A crowdfunding platform is a space for campaign owners to present crowdfunding campaigns to a large number of people who can choose to contribute or not. A crowdfunding platform facilitates the exchange of information and money between campaign owners and potential contributors and contributors. This is often in exchange for a fee. 

 

¤  Donation based crowdfunding:

 

A form of crowdfunding whereby people are invited to donate money to a project - this form of crowdfunding is often used when the campaign is launched by a non-profit organization or charity and the main goal is often to help an individual, cause, or a group of people.

 

¤  Equity based crowdfunding:

 

This is a more intricate form of crowdfunding, which is often not supported or even considered by the legal framework in many countries. It allows contributors to receive a stake in the company to which they contribute.

 

¤  FFF: 

 

Friends, family, and followers. These people are crucial to help your crowdfunding campaign get off to a good start.

 

¤  Fixed funding:

 

This is sometimes the only option on some crowdfunding platforms. With this option you only get the money if you reach your goal. If you don’t reach the goal you will get no money and none of the people who backed your campaign will pay anything. For example, if your target is $10,000 and you reach $9,897, you will get $0 and your backers will pay $0. Choose this option when there is an absolute minimum amount of money that you need to complete your project. This is sometimes called all or nothing funding.

 

¤  Flexible funding:

 

Flexible funding is different to fixed/all or nothing funding. With this option, you keep however much money is raised, even if you don’t reach your target. You also need to deliver on your campaign promises even if you don’t reach your target. This option is useful if you are able to scale up or down your project, business, initiative, etc.

 

¤  Funders:

 

A funder is someone that contributes funding to your campaign. They are sometimes called backers or contributors.

 

¤  Lending based crowdfunding:

 

This model of crowdfunding functions much like a loan. These agreements generally promise a predetermined repayment schedule, and often, an interest payment also.

 

¤  Perk:

 

A perk is something which is offered by campaign owners to potential contributors in exchange for their money. There are a hugely diverse range of perks on offer. A perk is often referred to as a reward.

 

¤  Reward:

 

A reward is something which is offered by a campaign owner to potential contributors in exchange for their money. There are a hugely diverse range of perks on offer. A reward is often referred to as a perk.

 

¤  Reward based crowdfunding:

 

This is a form of crowdfunding where the backers are offered a perk or reward in return for their investments.

 

¤  Stretch goal:

 

A stretch goal is activated when a campaign reaches its initial goal. It adds a new larger target. Not all platforms offer stretch goals as an option.

 

 

 

 

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