How crowdfunding has come to be a major business move

Michael Giuffrida believes that for a business to succeed, it should be open to new avenues of growth. Many budding entrepreneurs who have worked under experienced business owners find themselves adhering too much to traditional ways. While tradition isn’t really a bad thing since most of the old methods have been tried and tested, as Michael Giuffrida notes, the paths of businesses are seldom the same. Some encounter more financial problems than others.

On that note, Michael Giuffrida explores another option, one that has been gaining momentum over the past decades, mainly due to the rising popularity of social media. This option is crowdfunding.

Michael Giuffrida has noticed how many small business owners have resorted to crowdfunding, which is by no means a traditional way of securing funding for a business. And although this might be an effective way to beef up finances, Giuffrida suggests this after other avenues (such as securing bank loans or looking for investors) have been exhausted.

For those who are unfamiliar with the process, crowdfunding involves going online (preferably on social media) and reaching out to other people who believe in your idea and want for it to come to fruition. While traditionalists balk at the idea of crowdfunding, likening it to ‘begging,’ the process has produced a number of impressive results. Many films and events that would have never seen the light of day have been produced thanks to crowdfunding. Innovative products as well have been manufactured thanks to crowdfunding.

And for Michael Giuffrida, if there’s a chance that it’ll help a business succeed, business owners should look into it.

Michael Giuffrida has been working as a managing partner at Titan Strategic Partners based in Hartford, Connecticut. The company’s expertise is in building and improving organizations from startups to established businesses. If you are interested in reading similar posts, visit this blog.