Hello Beautiful Thinkers,
I’ve been aware of the site Kickstarter for a while now, but it wasn’t until recently that I really thought about looking into the rules behind this fundraising phenomenon. And not just because the Veronica Mars movie is being funded through this site, but that certainly didn’t send me running in the other direction. Just in case you’re not familiar with Kickstarter, it’s “a funding platform of creative projects.” As a user you can contribute either as the person funding or the person creating.
The site launched in April of 2009 and has helped find funding for over 35,000 creative projects. For more complete stats the site has a page that breaks everything down from larger stats like successful and unsuccessful to specific categories of projects like film, art, publishing and many more. They even have a success rate percentage for each category to give you an idea of what chances your project has. The current overall success rate is 43.64%, which seems pretty high when you consider that it’s practically free money.
I bet that perked up some ears, didn’t it Beautiful Thinkers. Free money? I like the sound of it too. There are a few catches though like the all-or-nothing policy, but when you hear their reasoning it all seems pretty fair. As you can probably guess from the name “all-or-nothing,” when you propose a project on Kickstarter, if you don’t successfully raise your full budget then you don’t get any of the money. This is the best way to decrease risk of disappointment. As they put it on the site, “if you need $5,000, it’s tough having only $1,000 and a bunch of people expecting you to complete a $5,000 project.”
Those people expecting you to complete a project might not be getting any cut of the profit, but they are still your investors. They still get something in return for their funds toward the project, which can vary from project to project. If the project is to mass-produce something, often times they get a copy of whatever was produced, be it a game, CD, book, etc. Kickstarter offers some suggestions as to what to offer as a project reward but ultimately it’s up to the project creator to decide what the rewards is.
Alright so having to give a reward kind of makes it seem less like “free money,” but if the project is successful the profits are all yours. If you have the right idea and the means to do it with just a little financial help, Kickstarter might be the place for you. Check out the project guidelines to make sure your project is right for this platform. If it’s a fit for you then good luck and have fun with your video. If there’s anything that’s going to attract more funding to a project it’s that the creators show their passion and are entertaining. And if you’re one of those generous enough to help fund a project, maybe we should talk some time. I’m only kidding. Maybe.
The Boy In the Heart Shades