While crowdfunding on platforms like Kickstarter, Indiegogo, and TILT are seen as ways to bring in money, any good entrepreneur knows that you need to break a few eggs if you want to make an omelet. If you think you have the next great idea , whether it’s a film, album, art project, or tech product, make sure you budget for the following things to make sure you can afford it. While these expenses vary slightly for different project types, this post will focus on making a new product.
“There’s this myth about how crowdfunding is supposed to work,” the researchers say. “The myth is that going viral is the only way to have a successful crowdfunding campaign. So scientists don’t think that they can use it for their research. And that’s just wrong.”
As crowdsourcing has taken off, there have been numerous attempts to try and understand who engages in crowd based activities, what motivates them, and how they go about their work. One area that hasn’t received quite such intense scrutiny is in the crowdfunding market.
As someone who has backed his fair share of Kickstarter projects last year, it's understandable why the platform gained traction. The independent gaming scene is one of the most bustling and, due in part to various services, the creation of unique experiences is made that much more possible.
"Dear Socially Stephanie, I have a great idea, but the problem is I don't have enough money to start my business. I was thinking about doing a crowdfunding campaign. Do you have any tips to help me make my campaign a success?"
Marty Smith, an Internet marketer and startup entrepreneur, turned to the things he knew when he received a diagnosis of cancer: social media and crowdfunding to build a community and raise money for cancer research.
There is a high chance that you haven’t been online lately, if you haven’t already heard about the infamous “Potato Salad” project. Started a few days ago by Zack Brown, the Potato Salad Kickstarter project simply stated “Basically I’m just making potato salad. I haven’t decided what kind yet.” Unfortunately, once someone earns a few bucks with something that went viral, everyone has to get on the “money wagon.”
Over the weekend, I talked to Ross Currie, an established Identity Management consultant from Perth, Australia. But between September to December of last year, Ross did something completely outside his comfort zone. He launched a Kickstarter campaign for his project Squishy Forts – the world’s first Pillow Fort construction kit. Ross’s goal was to reach $25,000 in crowdfunding. Instead, he was able to push the overall funding past $67,000.