I recently came across this term when searching for a way to help my good friend. Crowd Funding is basically that – utilizing a whole crowd of people to help with funding.
It’s a great idea, it’s always easier for 10 people to come up with $10 to make a hundred bucks than it is for one person to do it alone. And with the site I ended up going with, GoFundMe, they have tools included that make it easy to connect with as many people as possible through social media, mainly Facebook and Twitter.
You can use Crowd Funding for pretty much anything when you think about it: Travel plans, education, personal crisis, charity fundraising, etc. The trick is to get your fundraising plan out to as many people as possible and then you’re good to go.