Skillful 4 L&S Unit 1 Reading 1

What is crowdfunding mainly used for?

• Buying stocks

• Raising money for personal or creative projects

• Saving money in a bank

• Paying off debts

According to Thomas Kerr, what is the first step in launching a crowdfunding campaign?

• Creating a website

• Asking friends for money

• Choosing a platform and setting a goal

• Hiring a marketing team

Why is it important to tell a good story in a crowdfunding campaign?

• It entertains the audience

• It helps people understand the project and feel connected

• It makes the campaign longer

• It avoids having to show a budget

What does Thomas say about offering rewards?

• They are not necessary

• They should be expensive

• They should be creative and match the project

• They should be the same for everyone

What is one reason campaigns fail, according to the interview?

• Lack of a website

• Too many rewards

• Poor planning and weak communication

• Asking for too little money

What is one advantage of crowdfunding compared to traditional fundraising methods?

• It requires less effort

• It allows people from anywhere to contribute

• It guarantees success for all projects

• It eliminates the need for rewards

Why is it important to set a realistic fundraising goal?

• To avoid paying taxes

• To ensure the campaign looks professional

• To increase the chances of reaching the goal

• To attract more investors

What role does social media play in crowdfunding campaigns?

• It helps manage the campaign's finances

• It spreads awareness and attracts more supporters

• It replaces the need for rewards

• It guarantees the campaign's success

What should campaign creators do to maintain supporters' interest during the campaign?

• Offer daily rewards

• Post regular updates and show progress

• Lower the fundraising goal

• Create new platforms for the campaign

What is one characteristic of a successful crowdfunding campaign?

• It has a large team managing it

• It offers rewards that match the project

• It avoids using social media

• It sets a very high fundraising goal