With the majority of crowdfunding occurring through an online platform, you CAN launch your campaign on some platforms without too much thought or preparation. Just because you can, doesn’t mean you should and lack of preparation is usually evident as soon as you view a project page. Before doing anything you should spend a few minutes considering if you are ready for the rigours of a crowdfunding campaign.
Here are some of the questions you should ask yourself before considering this form of funding:
Do I have an existing network to share my crowdfunding campaign with?
A lot of promotion is needed to run a successful campaign and if you are not active on social media, perhaps you need to delay your campaign until you have organically grown a network. Most of the funding will come from your network and their network so this is crucial. Another method that can be successful is direct email communication so don’t despair if you’re not on social media although as crowdfunding is conducted online, social media is perfect for sharing of your campaign.
Have I scheduled time for my crowdfunding campaign?
During the preparation for launching your crowdfunding campaign you can usually juggle with other activities in your life. However, once you have sent your project live you need to think of this time as having a second job. You will need to devote time and energy to promoting your campaign, answering questions, networking and trying to obtain media coverage. There are sadly many crowdfunding projects that launch and have no activity and only a few pledges of support. Some of these may be as a result of poorly thought out projects but some are the result of the assumption on behalf of the creator that all they need to do is publish their campaign and the funds will roll in.
Am I prepared to promote my crowdfunding project?
The concept of crowdfunding can be intimidating for those who feel shy about asking for support. The creator may need to put aside their shyness for the duration of the campaign. If you need some inspiration check out the Amanda Palmer Ted talk – The Art of Asking.
“And through the very act of asking people, I connected with them. And when you connect with them, people want to help you.” Amanda Palmer, TedTalk, 2013.
Am I ready for the crowdfunding rollercoaster?
Have you thought through the emotional impacts of running a crowdfunding campaign? Are you prepared for the emotional highs and lows of running a campaign? There can be a huge rush when you see people pledging to your project, and there can equally be times of concern and fear of failure when you hit the dreaded ‘mid-way slump’. It’s also sensible to do an ego check before you launch your campaign to assess how you will feel and deal with the potential of not making your funding target.
Sorry, this offer below is no longer available! Thanks to all who responded through the survey – I hope I’ve been able to offer some valuable feedback.
If you would like to assess more of your readiness for crowdfunding, then please fill out the Crowdfund it! survey. The questions I ask will help you understand some of what you will need to think about. Remember, if you would like the Crowdfund it! FREE Five Minute Feedback to see if you are ready to crowdfund, please include your email address. I will email you back within five working days!