Moonpreneur
Having a creative idea alone cannot help to make something real. How often have you encountered situations where you have an amazing and inspiring idea but cannot execute it due to being short of funds?
Reaching out to someone who is interested in your idea and can take care of the funds is great. But how do you find such people out of the blue? Is there a convenient way to do this?
Well, that’s where crowdfunding platforms like Kickstarter come into the picture. If you have a dream project in mind which could use financial assistance, this blog will introduce you to all that you need to know about Kickstarter, one of the top online crowdfunding platforms today.
What Is Kickstarter?
Kickstarter is a platform where there are two types of people who interact with each other for their respective profit.
The first category is that of the creators. These people develop original and influential ideas and present them on the platform. The second category is that of the backers. Backers browse through different ideas from several creators, find something that excites them, and fund the same.
The creators use different kinds of media like images, text, and videos to present their ideas. They also offer reward levels for backers interested in pledging a certain amount for the project. Naturally, the higher the pledge amount, the higher the rewards.
How Can a Creator Start a Project?
A creator can present their idea on the Kickstarter platform and set a specific deadline and a funding goal for the same. It is to be noted that to be approved on the platform; there are certain Kickstarter guidelines they must follow. Considering these terms, only 75% of the projects submitted on the platform get approved. Creators can present ideas in different fields, such as tech, writing, designing, illustrations, art, etc.
Also, it is necessary that the creators have to reach the funding goal before the deadline set by them. If this fails, no money will be received from the backers. If the goal is achieved, the money gets transferred, and the creators can start working on the project. The backers might have to wait for several months, at times, to see the result.
How Can a Backer Fund a Project?
Backers can browse different projects on their homepage to find an idea and corresponding reward that suits them. There would be different categories, such as fresh ideas, ideas recommended because of previous choices, and more. You can go to a certain category and browse for projects under it. Once you find an interesting project, you simply have to click on the ‘Back this project’ button. There will be a list of amounts and rewards set up by the creator, and you can choose one of your conveniences.
You can go to the Estimated Delivery Date section on the page to find out when you will receive the rewards. Once the creator gets the necessary funding by the deadline, they can reach out to you to discuss further on the delivery of the rewards. Note here that if you are paying through a credit card, it doesn’t get charged until the deadline set by the creator passes.
What Are Kickstarter’s Guidelines?
As mentioned earlier, there are a certain set of guidelines that the creators should know about before submitting a project on Kickstarter. These include:
- A creator can only receive the funds if they achieve the funding goal before the deadline they have set for the project. This all-or-nothing rule minimizes risks.
- If you don’t reach your funding goal on time, you will not receive the funds, but you can always try again in the future.
- You are not allowed to fundraise for a charity on Kickstarter.
- You are not allowed to offer equity on the platform.
- The idea you create should be something that can be shared with prospective clients.
- The presentation of your idea should be clear and precise.
- You are not allowed to raise funds for political or other contests.
- You are not allowed to involve prohibited items such as weapons, drugs, etc.
Some Ideas for A Successful Kickstarter Campaign
1. Keep Your Presentation Short Yet to The Point.
Nobody has time or patience to go through long content today. If you want to impress backers to get funds, always keep the presentation easily legible and short.
2. Make It Customer-Centric.
The endpoint is always the customer or client using your product or idea. So, it is important to show why your idea benefits the customer.
3. Choose A Favorable Launch Time.
Again, this has everything to do with the customer and the market. Launching your idea when it best meets market needs will naturally double your chances of getting funded.
Conclusion
Kickstarter is one of the best and most popular crowdfunding platforms online through which you can make your dreams a reality. As a creator, you can reach out to the right group of people who share a similar mindset. As a backer, you can earn profit by funding a creator’s idea and helping its launch in the global market. At the same time, it’s necessary to understand the Kickstarter guidelines and abide by them so that you can make the best out of the platform. Hope this helps!
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Not only this, Moonprenur has a special crowdfunding platform for young entrepreneurs, known as MoonFunded, that helps them to raise capital for their projects. Start a project on MoonFunded Today!
