3 tips on crowdfunding

Guest blogger: Kristoffer Olsson from StartDevelUp

I remember finding Kickstarter for the first time (the project: Revolights). I was blown away! The fact that small, as well as big, creative projects now are able to receive funding and feedback etc from its world wide (!) audience has been proven over and over, and over, again by Kickstarter and its fellow platforms.

While there are many highly successful projects making the headlines (perhaps most famous in Sweden right now: Kung Fury), since Kickstarter launched in the Nordic region I’ve seen a number of projects destined not to meet their set goals. I think it’s a learning process for all of us, but there’s a lot of good lessons available out there both from successful and those (so far) less successful. You’ll find interesting links about this at the bottom of this post.

Some of the examples I’ve found over the last couple of years (that many seem to overlook):

  1. A lot of projects probably would benefit from setting their goals lower and using stretch goals to push the backing further (related to your original product). Here’s a current example of a creative project hugely exceeding its ‘original’ goal of $10.000, by about 2600%.
  2. Prepare for a lot of hard (but rewarding) work! The amount of work that goes into a successful campaign (before, during, and after) is probably more than most initially expect.
  3. Attract support/backers before you launch. People you know or people you don’t know. Try getting as many as you can to commit to backing or boosting your project, before you launch. People seem to be more interested in a project with ‘wind in its sails’. Most people’s eyes, mine included, are drawn to the projects that seem to have traction (i.e. the ones that seem popular and already likely to succeed).

Would love to hear your thoughts and if you have some feedback, don’t be shy: kristoffer@startdevelup.com.

Resources:

Here are some nice sources, in case you want to dig deeper into today’s topic:

About the author:

kristofferolssonKristoffer Olsson does consultancy assignments for  Science Park Jönköping within business development and runs his own start-up, StartDevelUp based in Malmö.

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