Home – New Forums Starting your journey Kickstarter Anyone?

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  • #982295
    Dee.
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    • Total posts: 17
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    Hi everyone,

    Just wondering if anyone here has used crowd souring platforms such as Kickstarter or Indie Go-Go to test and fund their projects?

    The fund-raising campaign looks like an absolute giant undertaking, let alone the marketing and promo that would be involved with getting eyes on the campaign itself.

    I’m looking to use Kickstarter to test the reception of an upcoming project (still awhile to go before I get into Kickstarter phase) but would love to hear everyone’s thoughts / stories / experiences.

    Cynics and skeptics, you’re welcome too, nothing like a good ol’ devil’s advocate to get a good rounded-off picture of the whole piece.

    Hopefully this post will gain some traction.

    Looking forward to it.

    Dee

    #1136061
    Jodie McLeod
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    • Total posts: 345
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    Hi Dee,

    We have a few articles that will give you a bit more information on crowd funding (as opposed to crowd sourcing – the difference is explained in the article) – here’s an introduction to crowd funding, and here’s how to get started.

    We also have an article coming out soon written by a business owner who has had experience (and success) with it. Stay tuned!

    But I agree it would be great to hear about other people’s experiences.

    Jodie

    #1136062
    Dee.
    Member
    • Total posts: 17
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    Hi Jodie,

    Sorry for the misuse of terms there. Crowd funding was indeed what I was taking about.

    Thank you for pointing me in the right direction, and I eagerly look forward to the article that you’re talking about – can’t wait!

    And yes, it would be nice to hear about everyone else’s stories and their thoughts / opinions about crowd funding.

    Have a great weekend ahead Jodie!

    D

    #1136063
    Meat Lover
    Member
    • Total posts: 32
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    I think the idea of crowd funding is so great, however I have also wondered exactly how much work is required to execute it and have it be a successful avenue. Hopefully someone has had some experience.

    #1136064
    Kate Toon
    Member
    • Total posts: 79
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    Hi

    I ran a successful project on Pozible (read about it here http://www.pozible.com/project/4763) to raise fund to publish a book. My target was $1000, I raised $3000.

    Let me tell you one simple fact about crowd funding – it is not free money.

    > You will work incredibly hard to get whatever you get.
    > You need an inventive mind to think of good rewards, write a good ‘sales pitch’ or ‘begging letter’ or whatever you’d like to call it :-P
    > Projects with videos are much more successful.
    > You will have to work the heck out of your network and not be ashamed of actually asking friends and acquaintances for money.

    In reality I could have earned the money much more quickly than I raised it.

    BUT all that said I would do it again in a heart beat because:
    a) it’s enormous fun, setting it up, watching the donations roll in, writing updates, connecting with complete strangers and of course if you’re successful it’s a total buzz.

    b) it’s great for expanding your network, I made many new connections through the life of the project and some actual real new friends!

    c) it’s different and if you run a small business and have been doing things the same way for a few years, it’s good to shake things up a little.

    One thing to remember…

    Some platforms have an all or nothing approach, while others let you take whatever you earn.

    I prefer all or nothing. I think it shows that you believe if your product and are willing to be brave, that inspires people.

    In most cases around 40% of the funds come in the first few days – friends and family then the rest is a trickle, remember you’ll lose approx 7% of what you earn in fees to the platform (this varies).

    Work out your budget before hand and don’t forget (as I did) to factor in:
    > Cost of rewards
    > Cost of sending out rewards

    So in summary hard work, but worth it:
    Here’s my blog on the subject: http://www.katetoon.com/2012/04/the-secret-to-pozible-success/

    Sorry for the long response but I hope it helps.
    Thanks
    Kate

    #1136065
    Kate Toon
    Member
    • Total posts: 79
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    now can anyone tell me why my head doesn’t appear next to my comment in the forum??

    #1136066
    sansamad
    Member
    • Total posts: 122
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    Hi Dee,

    I believe crowd funding is an awesome platform to help projects gain momentum. While I don’t have first hand experience I have seen the results.

    Louise Hawson’s wonderful project 52 Suburbs Around the World was crowd funded by Kickstarter.
    http://www.kickstarter.com/projects/1638492543/52-suburbs-around-the-world?ref=card

    And a friend’s daughter used Pozible to successfully fund the post-production of her movie Kite which she had both written and directed.
    http://www.pozible.com/project/5878

    Have a great weekend all :)

    Sandra

    #1136067
    Peter – FS Administrator
    Member
    • Total posts: 1,889
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    Kate Toon, post: 155072 wrote:
    now can anyone tell me why my head doesn’t appear next to my comment in the forum??

    Hi Kate,
    You can upload a photo in control panel here: http://www.flyingsolo.com.au/forums/profile.php?do=editavatar

    The forum is on a separate platform which is why your site image doesn’t come across automatically.

    Any probs let me know

    Cheers
    Peter

    #1136068
    Shaukat Adam Khalid
    Participant
    • Total posts: 1,528
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    Crowd funding has been working for ages.

    In regards to the likes of kickstarter, they are but platforms. I think too many people do things like selling, fund raising, marketing, etc without understanding what’s involved and when they get desperate, they seek unqualified advice.

    It’s not free money like some one else said. Nothing is free including free which usually turns out to be very costly – speaking from experience here.

    ultimately, we are talking about influencing others to “buy” your idea which could be a product, service, event, charity, etc.

    Now look at how many courses there are on direct response, influence, persuasion, hypnosis, selling, marketing, story telling, speaking, copywriting, etc.

    If we want a project to be successful, we have to learn to influence others and rarely it’s by way of revelation. Learn it or pay a consultant to find you someone who can get the job done.

    Don’t assume traffic from a platform / media will get you conversion. That would be naive and irresponsible.

    #1136069
    Dee.
    Member
    • Total posts: 17
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    Kate Toon, post: 155066 wrote:
    Hi

    I ran a successful project on Pozible (read about it here http://www.pozible.com/project/4763) to raise fund to publish a book. My target was $1000, I raised $3000.

    Let me tell you one simple fact about crowd funding – it is not free money.

    > You will work incredibly hard to get whatever you get.
    > You need an inventive mind to think of good rewards, write a good ‘sales pitch’ or ‘begging letter’ or whatever you’d like to call it :-P
    > Projects with videos are much more successful.
    > You will have to work the heck out of your network and not be ashamed of actually asking friends and acquaintances for money.

    In reality I could have earned the money much more quickly than I raised it.

    BUT all that said I would do it again in a heart beat because:
    a) it’s enormous fun, setting it up, watching the donations roll in, writing updates, connecting with complete strangers and of course if you’re successful it’s a total buzz.

    b) it’s great for expanding your network, I made many new connections through the life of the project and some actual real new friends!

    c) it’s different and if you run a small business and have been doing things the same way for a few years, it’s good to shake things up a little.

    One thing to remember…

    Some platforms have an all or nothing approach, while others let you take whatever you earn.

    I prefer all or nothing. I think it shows that you believe if your product and are willing to be brave, that inspires people.

    In most cases around 40% of the funds come in the first few days – friends and family then the rest is a trickle, remember you’ll lose approx 7% of what you earn in fees to the platform (this varies).

    Work out your budget before hand and don’t forget (as I did) to factor in:
    > Cost of rewards
    > Cost of sending out rewards

    So in summary hard work, but worth it:
    Here’s my blog on the subject: http://www.katetoon.com/2012/04/the-secret-to-pozible-success/

    Sorry for the long response but I hope it helps.
    Thanks
    Kate

    Wow Kate! Thank you for being so giving with your response!!

    It is absolutely amazing to hear from someone that had gone through a crowd-funding campaign herself!

    Coming from a film-making background, I know how much work goes into the entire campaign – from setting up the foundations and audience before the launch, all the way through to the fulfillment part of it after the fact.
    (Many short-films get have to rely on crowd-funding to come to fruition)

    I look forward to reading through your blog and learning more!

    Thanks so much for dropping in. I’d love to stay in touch if that’s alright with you?

    Dee

    #1136070
    Dee.
    Member
    • Total posts: 17
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    ::
    sansamad, post: 155076 wrote:
    Hi Dee,

    I believe crowd funding is an awesome platform to help projects gain momentum. While I don’t have first hand experience I have seen the results.

    Louise Hawson’s wonderful project 52 Suburbs Around the World was crowd funded by Kickstarter.
    http://www.kickstarter.com/projects/1638492543/52-suburbs-around-the-world?ref=card

    And a friend’s daughter used Pozible to successfully fund the post-production of her movie Kite which she had both written and directed.
    http://www.pozible.com/project/5878

    Have a great weekend all :)

    Sandra

    Thanks for dropping in Sansamad!

    Can’t wait to get through the links that you’ve sent through as case studies!

    Keep in touch!

    #1136071
    Dee.
    Member
    • Total posts: 17
    Up
    0
    ::
    Khalid Adam, post: 155140 wrote:
    Crowd funding has been working for ages.

    In regards to the likes of kickstarter, they are but platforms. I think too many people do things like selling, fund raising, marketing, etc without understanding what’s involved and when they get desperate, they seek unqualified advice.

    It’s not free money like some one else said. Nothing is free including free which usually turns out to be very costly – speaking from experience here.

    ultimately, we are talking about influencing others to “buy” your idea which could be a product, service, event, charity, etc.

    Now look at how many courses there are on direct response, influence, persuasion, hypnosis, selling, marketing, story telling, speaking, copywriting, etc.

    If we want a project to be successful, we have to learn to influence others and rarely it’s by way of revelation. Learn it or pay a consultant to find you someone who can get the job done.

    Don’t assume traffic from a platform / media will get you conversion. That would be naive and irresponsible.

    I’m with you completely Khalid. Nothing is free and I absolutely agree with that.
    And trust me, there is no desperation here, more so a need to get a good rounded-off picture on the task that lies before me.

    thank you so much for tuning in and sharing your wisdom on the matter.

    I’d love to keep in touch and speak more in the near future should you be happy to do so?

    Best,
    Dee

    #1136072
    Kate Toon
    Member
    • Total posts: 79
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    Hi

    Gosh yes getting proper funding for films is even harder! I have a few applications in myself.
    Glad I could be useful, you never know how much to waffle on on this forum, and if it’s helpful or annoying.

    Would love to keep in touch.
    Thanks
    Kate

    #1136073
    Dee.
    Member
    • Total posts: 17
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    0
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    Kate Toon, post: 155223 wrote:
    Hi

    Gosh yes getting proper funding for films is even harder! I have a few applications in myself.
    Glad I could be useful, you never know how much to waffle on on this forum, and if it’s helpful or annoying.

    Would love to keep in touch.
    Thanks
    Kate

    Personally, shedding light on the matter is absolutely never an annoying thing.
    Tends to be that the ones that get annoyed are the ones that think they know too much – and quite honestly, I don’t believe in ever being able to ‘know too much’.

    So thank you, sincerely.

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