Starting any business will inevitably incur start up costs. In recent years, crowdfunding has become an incredibly popular way to cover these expenses whilst promoting your product to hundreds or thousands of potential investors.

The idea is that you can post pictures and video of your prototype or finished product online, as well as some detailed information about what it is and why it's great, with the intention of attracting customers and backers to fund your project.

Many successful products have started as Kickstarter or Crowdfunder projects, with some great ideas "going viral" and receiving many times the amount of funding that they originally asked for. What could be better than a brand new business, already with an enormous and engaged customer base who is throwing money at them?

By the same token, a lot of crowdfunding projects don't even come close to achieving their funding goal and this is great too! If your crowdfunding project doesn't attract any attention or backers then there's a good chance that the product's not right or that there's no market for it, in which case you know to go back to the drawing board before wasting any more time or money on it.