Have you ever seen an advertisement or segment on the TV showcasing a product developed by a mom (usually out of necessity) and thoughts “Hey, I could have come up with that!” I know that sometimes my husband or boys will say “Why don’t you come up with something incredible that people want?” But, I find myself like other moms out there with awesome ideas and faced with the obstacle of how to finance your dreams, not to forget you also have to find the time to work on them. Unless you happen to be independently wealthy and just looking for something to do, you need to raise funds to see your dream come to fruition. That’s where sites like www.mumzy.com come into play.
I believe in supporting women to find the best way to contribute to the financial health of their families as well as the community at large in the manner best suited for their current stage of life. Even though many companies have become more family friendly in recent years, working for someone else makes it a challenge to balance other aspects of a mom’s life. Being an entrepreneur offers an alternative which can combine your passion and experience into a rewarding life. Given my beliefs, I was thrilled to learn more about crowdsource funding with MUMZY as a way to finance your dreams as an entrepreneur and just had to share with my readers.
Crowdsource Funding with MUMZY Help to Finance Your Dreams as an Entrepreneur
MUMZY is a community and site where moms can post a project to raise funds and also work with the MUMZY team to help map out next steps and resources to launch their ideas. Whether you have a new invention, an idea for a small business or want to start a nonprofit, MUMZY is the place where you can make it happen. Or, if you already have an idea started, but could use some help and capital to take it to the next level, MUMZY is the solution to get her there.
MUMZY offers a place for you to post your project. Once posted, share your idea with your friends and family over the campaign duration to get them excited about what you’re working on. After you’ve reached your funding goal you can work with the MUMZY team to develop what the next steps and resources are in taking your idea and turning it into a reality. You can also browse MUMZY and contribute to other moms’ projects that you love.
Catherine Merritt is the founder of MUMZY. A mom to 2 boys, she once experienced having an awesome idea that never came to fruition due to insufficient financial backing. What could be considered a setback by many became the seed for her launching MUMZY with the goal of helping other mothers find a way to fund their ideas. After all, those of us who are moms know that problem solving can lead to some innovative ideas.
If you look around the site, you’ll see a wide variety of project categories where a mom can place her dream. Ideas include things for particular ages of children (e.g. infants, babies, and preschooler.) Others have a focus on the home including DIY, fashion and organizational. And, you can find ideas for charitable causes or work related. So far, there is just a handful of projects already entered and waiting for funding.
How To Get Started with MUMZY for Crowdsource Funding to Finance Your Dreams as an Entrepreneur
Getting set up on MUMZY is quite simple. Once your reach the site, you start by clicking Create. You’ll be asked to sign up with your name, email and password for the website.
After your account is generated, you arrive at a page to enter information about your project. Here’s all the information you’ll need to get started raising those funds.
- A meaningful project name
- A description of your project that conveys what you want to do and why people should support it
- A video of you talking about the project (hosted on YouTube with the link input here)
- End date for the fundraising period
- Categories on MUMZY that best describe the project
- Project Fundraising Goal
Once you’ve entered everything, your project goes into the system for approval before it is launched on the site. It doesn’t get any easier than that!
Keep in mind that MUMZY is new platform and therefore in its own infancy stage. The founders welcome any and all feedback to this platform can do what it was intended to do ~ help moms bring their ideas to life. I should note that this is an all or nothing approach to funding, so if you do not reach your goal the project isn’t funded. You can then regroup and try again later as you are allowed to post up to 3 projects a year with a maximum 90 day window for each. Additionally, there is a 5% service charge on successfully funded projects (so keep that in mind when setting your goal.)
Do you have an awesome idea you want to see funded, but aren’t sure about starting on it? MUMZY is offering a great incentive to take action now rather than wait for the perfect time. One of the first 100 people who post a project to MUMZY will win $1,000 back towards their project’s funding goal.
Have you done any fundraising for a dream project or charitable cause? Did you use crowdsource funding for it?
What’s holding you back from developing and launching a product or service which would benefit other families?
I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.