Using Crowdfunding as a Research Tool for Your Business Idea

Bill Carmody explains how crowdfunding can be a valuable tool for testing the viability of a business idea. It acts as a research project to gauge market interest, helping entrepreneurs determine if their product or service has potential. If people fund the project, it indicates a good idea; if not, it saves time and money. Crowdfunding is not a rescue but a way to validate ideas before investing heavily.

What are the potential outcomes of a crowdfunding project as described in the text?

In what way does Bill Carmody believe crowdfunding can save time and money?