Do you have a project in mind that you just can’t get out of your head, but don’t know how to fund it? Then perhaps you should consider creating a Kickstarter campaign and crowdsource the money.
Kickstarter is a great way to make money online if you’re the hands-on creative type. And it allows you to raise the money you need for the entire project before you get started. This ensures your project actually has a fan base before you spend many hours of development time. Let’s call it your Minimum Viable Product.
But there is probably one question you’ve been asking yourself…
How Do I Start a Kickstarter Campaign?
Well first you need an idea, but let’s say you already have that. Next you’ll need to create a working prototype as this is required in Kickstarter’s Term and Conditions. Then you’ll go ahead and create your Kickstarter account.
But before we continue, let’s watch this Kickstarter Review video to take a look around Kickstarter and see what other people are creating…
So as you can see there are a number of ways you can make money online using Kickstarter and not all of them involve complex technology or even a sensible idea. The most successful people on Kickstarter follow a simple plan.
1. Identify a Leader
Every good project needs a leader, and that person should be the one who’s most passionate about the project. If you’re working in a team, then find that person and let them drive the project forward.
2. Give people a reason to help
Crowdfunding isn’t about donations or investments, it’s about finding people who are also passionate about your project. And the way they can help is through supporting your campaign with money. If you aren’t asking for help then you’re unlikely to get the money.
3. Engage your community
Kickstarter is all about community, and it’s the perfect time to find your 1000 true fans. Be prepared to spend as much time in the community as you can because without community, you still just have an idea.
4. Communication is key
Have you heard of Kickstarter scams? Well, usually these begin to grow momentum because of poor communication. When money changes hands and you fail to deliver on time people naturally get suspect as no one want’s to be part of a Scam.
The Newsletter is your friend and you should plan to send regular communications even when you think you have nothing to report. When the communication goes quite, people’s minds will wander.
5. Put yourself out there
Don’t be afraid to put yourself in front of a camera, because people buy from people. Even if you’re an Introvert you’ll need to step up to the plate and record your intro video. Here’s a TED talk that might give you some inspiration – The Power of Introverts
Now if you’re an extrovert, go crazy with your Intro and enjoy.
6. Create enticing rewards for backers
Sometimes the thought of backing a project isn’t enough to get people over the line. Or perhaps they are so excited about the project they want to be the first to have it.
Either way, you’ll need to create enticing rewards for your backers. And don’t forget to structure the rewards in such a way as to accommodate every budget.
Stretch Goals: Once upon a time these use to be a rarity, but now it’s almost a given that you’ll have stretch goals for different funding targets. Think ahead and include them in the initial Kickstarter campaign and add more when you need them.
7. Create Quality Products
Size doesn’t always matter but quality does. Give yourself plenty of time and budget to make something unique and of a high quality. Your attention to detail is important to the early adopters you are trying to attract.
8. Get organized
Finally, you’ll need to be organized. Running a Kickstarter campaign is a long process and you’re likely to face quite a few unexpected hurdles along the way. Before you launch your Kickstarter Campaign make sure you have a plan in place, including development, production and marketing lifecycles.
Creating a Kickstarter Campaign is a pretty solid way to earn a living, but usually, this comes after the campaign is delivered and you continue to produce an ongoing income from sales of the product. However, not everyone can be as successful as Oculus Rift which raised $2.5million on Kickstarter and then later sold the company for $2billion to Facebook.
But you can sure give it a try.
Potential Earnings: 8-Moneybags
Time Required: a lot