The Point is an old idea with a new twist. It’s a website which allows you to establish a “cause” (or reason you’re raising money) and solicit funding for it. The new twist is that, instead of immediately donating, the audience pledges their money towards the project. Once the pledge jar gets to the requested amount, then credit cards are charged. If not enough people rally around the project by the due date, then no funds are raised.
I think this approach has an interesting psychological advantage. There’s no cost to commit to an idea, and you’ll only donate if enough people think the project proposal is a good idea. It’s a bit like a 30 day money back guarantee.
Furthermore, if we can market it well, I think this could be a really effective way to fund certain physical components of a project (the solar panels, for instance). We give as much information as we can about the project, and the funders know exactly where their money is going.
The best example I’ve found is the “Pansenor Water & Electricity Project.” We can do it even better!
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