1. The idea is presented on the BBNOMICS site, If the idea is approved, then the person presenting the idea will be prompted to set up a project page and get the ball rolling.

2. The category is chosen; project must fit into the following category, specifically located in predominantly black neighborhoods (Globally) & (100% Black/African Owned); in manufacturing, logistics, retail industry. This will make it easier for potential funders to find you based on interests.

3. Money is raised; project owner must set a goal for the amount of money he/she would like to raise and deadline for reaching the goal. If the goal is not met by the set date, then none of the crowdfunders will be charged and the project owner will not receive the money.

4. Rewards are set; project holder sets rewards for various pledge levels in order to entice funders. For example, many new tech devices set a price to “pre-order” their idea. This means that the funder will pay that amount, and in return, they will receive the product once it is developed and produced (if it meets the goal).

5. The concept is showcased; a video that showcases the idea is created by the project owner in order to show off the idea and prove that it is really something they are working on and that they are how they say they are.

6. The project launches; project is now ready to enter the crowdsourcing community and will hopefully intrigue investors and become a reality.

7. Investors are updated; investors must be updated on the progress of the project so they can see how things are going. It wouldn’t be right to keep them in the dark – they paid for it!

8. Funds are received; if the project meets or exceeds its crowdfunding goal, then the money will be given to the project holder (minus fees for posting on the site).

Crowdsourcing is the practice of obtaining needed services, ideas, or content by soliciting contributions from a large group of people, and especially from an online community, rather than from traditional employees or suppliers.


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