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Published on Jul 27, Understand what is crowdfunding, what are the best practices, what to take under consideration when developing a crowdfunding campaign and why is this important! SlideShare Explore Search You. Submit Search. Successfully reported this slideshow.

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Can you clearly and succinctly explain your project and its value in terms that your audience will understand and appreciate? Have you tried it out on friends and strangers to gauge their reaction and readjusted accordingly? Regardless of whether your project is ongoing or just beginning, or you've compiled pre-production assets, do you have something to show potential backers?

Do you have representative images or video to share that illustrate your project and supporting assets? What other audiovisual and copywritten elements concept art, prototypes, sketches, in-development scenes, songs, etc have you arranged to leverage? Perhaps you have notable individuals' testimonials to share or other kinds of support. Line up everything you can and plan how and when to use these materials. Be sure to plan a promotional campaign that incorporates all elements - these materials will serve not only to define your project to the world, but as ammunition in the ongoing battle to promote it.

Plan your Rewards: Know what goods and services you have to offer, what they will cost you and how you will manufacture and distribute each.

The crowdfunding bible: How to Raise Money for Any Startup, Video Game or Project

Be certain that you've created options that suit all pricing tiers, speak to a variety of backers, and have built in at least a handful or unique or eye-catching items and opportunities, if only for purposes of generating discussion. Generate your budget and determine minimum funding levels including any cushions required to complete the project, and use a spreadsheet if necessary to calculate any costs that you may incur.

Be sure to estimate service costs, expenses associated with reward fulfillment and even taxes take time to speak with an accountant or other certified professional so that you fully understand potential financial and legal implications here into your projected budget. Note that delays can have a significant effect on project overhead, shipping dates and funding goals.

Funding Targets: Don't make financial goals too high. Instead, ask for what you need at bare minimum to make a project work - and, in your project's description, describe added content, features, services or events that will be offered only if specific higher target goals are met. If you're successful, you may reach them. Note that it's important to check funding rules for each individual site or service you are using before beginning as policies differ, i.

Ultimately though, the less you're asking for, the likelier you are to incentivize potential backers into taking the plunge, as they'll be more willing to commit to goals that they believe are achievable. Campaign Duration: Determine the optimum length of time to keep projects running. Some sites recommend that you keep the funding period down to as little as a few weeks, while others suggest that programs run for no more than 30 days at maximum.

However, actual timeframes should be discussed and determined based on individual project need, including how much time it will take to raise awareness, how long you can sustain supporting promotional programs, and how important it is to create a sense of urgency act now before funding closes! Run a Systems Check: Besides preparing campaign assets and tactics, ask yourself: Have you identified your target audience, and do you know where they consume news and media?

Have you planned your reward strategies, and run them by friends and associates to affirm that they appeal? Are you confident that your funding target is reasonable, and aimed low as possible to increase chances of success without compromising your budget? Have you identified PR, marketing, media and social media you will need create and utilize to reach your audience?

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Make Initial Outreach: Try to drum up some initial interest from friends, family and colleagues, or any existing support base that you have, and secure their promise to contribute once campaigns initially start - their support and contributions may create a sense of successful forward momentum that spurs others to rally to the cause.

Work hard to get momentum going around the project early, and ensure resources are ready to bring to bear on day one, before you officially launch it. Description Details Customer Reviews Dream of launching a new product, project or startup? Wish granted Thanks to crowdfunding, today's hottest form of investment, suddenly anyone can bring any idea or invention to life on the Internet.

The world's leading guide to raising money online, The Crowdfunding Bible shows you how to launch, market and successfully run a high-tech fundraising campaign, regardless of industry or budget. It reveals the secrets to catching the media and public's eye, and attracting donors, in a language that everyone can understand.

From books to films, albums, events and consumer products and video games, dive in to discover the new world of venture capital waiting at your fingertips. Jennings Moss, Editor, Portfolio. General Imprint: Lulu. Review This Product No reviews yet - be the first to create one! Need help?