How to successfully fund your Kickstarter or IndieGoGo (or other crowdfunding) campaign
Crowdfunding has become an incredible new way to raise capitol for the next big idea you have, and the amazing thing is you can successfully fund a new invention or idea through kickstarter, indiegogo or other crowdsourced platforms virtually over night!
Crowdfunding is a fairly new online technology that allows anyone in the world to post an idea they have (a virtual reality headset, a boardgame, a new type of shoe, the options are limitless) and ask for a target of capitol required to help them launch their business which can be anywhere from $100 to $100 million.
Users and investors of these crowdfunding websites can browse all of the ideas people post and decide if they want to become part of an idea by donating cash towards the posters target capitol goal.
There are 3 ways to donate to an idea:
1. donate money
2. donate money and become a shareholder of the company raising capitol
3. donate money and get a reward from the company raising capitol (for example a free t-shirt with the company’s logo that says “I helped fund company X on Kickstarter 2016!” or pre-launch version of the product being created).
Before crowdfunding existed most people relied on friends and family for capitol and if they had excellent credit they could get a bank loan. Now, with crowdfunding available it’s possible for anyone to raise millions over night if your idea goes viral.
The problem is, about 65% of crowdfunding campaigns are never successfully funded. A large part of these failures is not that the product is bad, but that the people running crowdfunding campaigns are not following a successful, proven process that puts their product idea and campaign in the best possible position to succeed.