Has there ever been a passion project or dream you’ve yearned to chase but found yourself doubting whether there is adequate interest? Perhaps you lack the appropriate resources to bring this dream project to fruition, despite being confident about its demand. We all harbor unique dreams, but deciphering the financial aspects can often prove challenging.
Take my case for instance. I’ve always aspired to author a children’s book. My goals were not fame or wealth but the simple joy of holding my creation and reading it to my girls. I used my savings to hire an illustrator after writing and refining my book. The daunting task that lingers is publishing my book in hardcover, an endeavor that requires a hefty investment of $3,500. A garage full of unsold books and mounting debt is definitely an unwelcome thought.
This is where Kickstarter steps in. It has bridged the gap between prospective entrepreneurs and potential consumers for many years. The site’s success, as well as the success it affords others, is truly remarkable. My husband is a testament to this success, never leaving home without his two Kickstarter investments – the HuMn Wallet and the Pebble Watch.
FINDING OUT IF YOUR PROJECT IS KICKSTARTER-READY
Now is the best time to embark on realizing your dream or passion project. I advise initiating a Kickstarter when your project is well-defined. If you are planning to fund a complex gadget, a prototype would be ideal (as per the rules). The key is to have a solid project at hand. Make sure you have a solid vision and foundation for your project before asking people for funding.
ESTABLISHING YOUR FUNDING GOAL
Just as you wouldn’t start to build a house without knowing the costs, it’s important not to kick-start your Kickstarter without a clear budget. Figure out the resources you’ll require to see your project through. Remember, the goal is to cover your expenses to launch your product, not to pay yourself. Eventually, you’ll receive remuneration when sales are generated independent of Kickstarter.
SPREADING THE NEWS
Many Kickstarters have successfully raised several hundred thousand dollars. A majority of them had built a substantial platform before they launched their Kickstarter campaign.
One successful Kickstarter I came across suggested amassing 50% of your funding before starting the Kickstarter. I wish I had known this before I started. Currently, I am working on creating awareness about Kickstarter among my potential readers and marketing my book on social media and via guest posts.
The digital era we live in today comes with added competition, but also a plethora of resources, to help you succeed.
If you’re keen on viewing my Kickstarter campaign for my children’s book, How to Sell Your Sister for Fun and Profit, click here.
Have you ever launched a Kickstarter campaign, or wished to? Have you ever sponsored a Kickstarter? What are your thoughts on its usefulness?
