Exam 12: Bootstrapping and Crowdfunding for Resources

You would like to raise funds for a foodbank in your local community.Kickstarter would be an excellent source for the initial funds.

When borrowing from friends and family,it is better to treat the arrangement as a formal loan.

According to the text,a disadvantage of bootstrapping and building up a business piece by piece is that you're less likely to generate a larger customer base.

What made equity crowdfunding in the United States possible?

The most successful crowdfunding efforts are a result of testing,refining,and planning.

What is the most effective reward to offer to Kickstarter contributors?

Crowdfunding backers invest solely on the merits of a product rather than their impression of the entrepreneur involved with the product.

Identify a project that could use crowdfunding and crowdsourcing.Identify the many opportunities that would benefit from these online sourcing and funding options.

As described in the text,one of the problems with the Coolest Cooler and its Kickstarter campaign was that ______.

SuLin is setting up a small construction shop and uses his personal credit card to purchase the company's basic equipment.This process is referred to as which of the following?

Imagine that you have developed a concept for a wood chipper that will provide more safety features than current products.You have some rough designs but would like to use Internet-based sources to develop these ideas into a prototype that can be tested.What resources would you use,and how would you use them?

You are ready to start your crowdfunding campaign.Describe what you should do to ensure a successful campaign.

If you cannot convey your product or service idea to your audience of prospective financial backers in a few short sentences,you should ______.

Crowdsourcing would be the fastest way of raising financial capital for your business.

Hard work an entrepreneur personally puts in to get a business up and running is known as ______.

What is characteristic of the investor model of crowdfunders?

What are "the 3 Fs" for financial assistance?

In the patronage model,investors will contribute to your project with no expectation of direct return.

As recent studies have shown,projects with spelling mistakes are how much less likely to be successful than projects without?

Imagine that you have just written a book on urban farming.You need money in order to print and distribute your first printing.How would you use Internet-based resources for this purpose?