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If you have a passion project or great business idea, kickstarter may be exactly what you need to get it off the ground. All you need is a dream, a goal, a budget, and a great pitch so people can donate to your campaign.
Last updated: April 9, 2014
Kickstarter is one of the most popular of crowd funding platforms for raising funds from the public. Project creators choose a deadline and a minimum amount of money that needs to be raised. If the minimal amount is not raised by the deadline, no funds are collected. Money pledged by donors is collected using Amazon Payments
The platform is open to backers from anywhere in the world. But to launch a project, you must be within the United States, United Kingdom, Canada, Australia, or New Zealand and your project must meet Kickstarter's Project Guidelines.
Kickstarter takes 5% of the funds raised and Amazon charges an additional 3–5%. Unlike traditional investment schemes, Kickstarter claims no ownership over the projects and the final thing they produce. However offering rewards is usually expected and crucial in the funding project.
On the fishy side there is absolutely no guarantee that project creators will deliver on their projects, use the money for project, or the completed project will meet the expectations. Kickstarter advises backers to use their own judgment before supporting a project. They also warn project creators that they could be liable for legal damages from supporters if they fail to deliver their promises.
Projects are categorized in 13 main and 36 sub categories. From all these categories and subcategories almost half of the kickstarter funding goes to Film & Video, Music and Games.
In order to start project on Kickstarter you need to register, fill out the project information and wait for Kick Starter to review your application. In normal circumstances you should hear from them within two days. If your project is accepted you will be notified and it will come online just after you setup your goal. Kickstarter features “The all-or-nothing” system which means that you need to collect your goal within fundraising period (90 days max) . Kicksatrer collects pledges which will be not released until the goal amount is accumulated. Or in simple words if you need 10K and have collected 7K the money will stay with kickstarter until you collect 10K.
It is very important that your presentation and idea be perceptive, pointed and insightful for Kick Starter to include in their list of projects. Many good ideas don’t get accepted, so be aware that you need to focus, define and explain the project well, because you usually get only one chance.
Also note that even if your project is accepted. Unless your project is chosen to appear on their main page, it is very hard the potential donors to actually see your project. You will get no or very little pledges unless you promote your campaign. This can be done by making video, writing about your project, and providing regular updates about why you want to raise the funds.
There are many other alternative crowd funding websites like kickstarter, but we will mention here IndieGogo and GoFundMe.
If you plan to start kickstarter campaign, make sure you read our Kickstarter Tutorial
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