The following guest post is by David Drake, founder and chairman of LDJ Capital, a New York City private-equity firm, and of The Soho Loft Capital Creation Events series, a global events and media company.

In a video interview at the South By Southwest festival in Austin, Steve Case, the AOL cofounder and Startup America chairman who advocated for the bill’s passage, says he’s hopeful the agency will finish rulemaking and begin to implement the law by the end of this year. Given that the SEC currently doesn’t have a permanent chairperson and still hasn’t finished fleshing out the Dodd-Frank reforms passed nearly three year ago, this seems a bit optimistic.

Since launching our own crowdfunding platform, Rock The Post, in 2011, we have seen many small businesses and entrepreneurs flourish and benefit from the aid of this industry. However, being successful in crowdfunding is not as easy as it seems. It comes with a lot of effort and dedication, but if one puts in the necessary work, they can realize fortunes that go far beyond just the raising of money.

In April 2012, President Obama signed the JOBS (Jumpstart Our Business Startups) Act, aiming to revitalize opportunities for entrepreneurs, startups, and small businesses; e.g. America’s main job creators. Briefly, main benefits of the JOBS Act as it is now are as follows.