Crowd Funding Success Code Plr Ebook

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Table of Contents

Table of Contents 2
Introduction .. 3
Getting Started …. 7
Popular Crowdfunding Sites 8
Kickstarter 8
CrowdCube …. 10
IndieGoGo ….. 11
Setting Goals ….. 14
Video Presentations .. 15
Promotions & Generating Buzz . 17
Rewards . 17
Social Media .. 18
Conclusion . 19
Resources . 20

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Getting Started

Different sites have different rules, but the basics of setting up your crowdfunding project are pretty much the same no matter which system you’re using.

Here are the basic steps to setting up a crowdfunding campaign:

• Create your initial project, including a detailed information sheet about yourself and your project and how money you need to complete the project. It’s a good idea to include details about what you’ll use the funding for, being as specific as possible.

• Set a time limit for raising funds. This is usually anywhere from 1 to 90 days. The longer it runs, the better chance you have of meeting your goal, but it will obviously take longer to receive the funds.

• Promote the project in order to receive the most possible backers.

• When backers contribute money, the funds will be placed into a temporary escrow account.

• Once the project has run its time limit, if it has reached its goal, the donations will be released from escrow.

Popular Crowdfunding Sites

The first thing you’ll need to do is decide which site you want to use to generate funding. There are dozens of popular sites these days, and each has its own set of pros and cons you’ll need to weigh.

Let’s take a look at a few of the most popular and interesting crowdfunding sites that are currently available.
Kickstarter

>> http://www.kickstarter.com

Kickstarter is perhaps the most popular crowdfunding website. It launched in 2009 and has since been used by thousands of people, to rise funding from millions of individual backers!

Here are some interesting facts about Kickstarter:

• Creators keep 100% control and ownership. They do not have to give up any ownership of their company, nor any share of their profits. All funds are donated by backers with no expectations of monetary gain.

• Kickstarter accepts pretty much any kind of creative project you can think of.

• Kickstarter charges a 5% success fee, but you’ll only have to pay if your project is fully funded. So keep this in mind and account for the fee when you set your funding goal.

CrowdCube

>> http://www.crowdcube.com

CrowdCube, a UK-based crowdfunding solution, is different from your average crowdfunding system. Rather than offering donation-based funding, CrowdCube works more like traditional investment, where you must either give up a percentage of your equity to backers (Equity Pitch), or pay investors back loan interest (Mini-Bond Pitch).

Here are some facts about CrowdCube:

• You must give up a percentage of equity to investors or pay back bonds.

• You must have a business plan and financial forecasts available in order to be “investment ready”.

CrowdCube is a good place to try if you’ve tried other funding methods and haven’t been able to reach your goal. Because you’re relinquishing some equity in your company or future profits, it may be easier to get funded.

IndieGoGo

>> http://www.indiegogo.com

IndieGoGo is very similar to KickStarter. It’s a bit more geared toward creative pursuits than other sites, but they still accept physical products as well as creative projects like movies and books.

Here are some facts about IndieGoGo:

• You keep 100% ownership of your company.

• The success fee is 5%, which is lower than some others, However, if you don’t meet your goal, the fee is still 5% unless you chose the “Fixed Funded Option” which has no fee – but you do not get to keep any money.

• There is a 3% processing fee for payments from credit card and PayPal.

• Unlike other sites, you still get to keep any money you raise, even if you don’t meet your goal. However, if you opt for the Fixed Funding option, you must reach your goal in order to keep any money.

RocketHub

>> http://www.rockethub.com

RocketHub is a unique system, because it allows you to raise funds without worrying about whether or not you meet your goal or paying huge fees. They are a lot more friendly to smaller ventures.

Here are some facts about RocketHub:

• Free to launch a project.
• You keep all the funds you raise, even if you don’t meet your goal.
• Fastest payouts in the industry. They pay on the first Friday after your project ends. It takes approximately 5-10 business days in most cases.
• Lower fees than most other sites. 4% success fee if you reach your goal, or 8% if you don’t, plus 4% credit card processing fees.
• Potential to have A&R fund your project.

Setting Goals

Setting your goal is a critical element of any crowdfunding campaign, because most sites require you to reach that goal before releasing any money to you. If you don’t meet your goal, you get nothing, and backers receive their money back.

Why do they do this?

The main reason is to ensure that only quality projects get funded. For example, if you ask for $5,000 to publish a short story, they don’t want that to get funded, because there’s no reason anyone should spend that kind of money to publish a short story.

They also want to ensure you don’t ask for more than you really need. You might need to ask for $500 to publish your short story (to hire an editor and cover artist and maybe a bit more for initial marketing), but asking for $5,000 would be completely unnecessary.

When you set your goal, figure out, in detail, how much money you think you will need. You can then add around 25% on top of that to cover any unplanned expenses and to cover success fees, processing fees, etc. If you think you need $1,000 total, you can ask for $1,250. If you think you’ll need $10,000, ask for $12,500.

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- 1 Ebook (PDF, DOC), 19 Pages
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