Small business owners know better than anyone that getting started on a new project is only getting tougher and tougher. But, doesn’t have to be. Many brands got their big breaks with a Kickstarter campaign. Here’s what you need to know…
Is a Kickstarter campaign right for you?
Kickstarter is a crowdfunding platform that has launched some giant names into the industry. It allows individuals to upload new ideas and projects to be supported by backers.
These backers, a.k.a people who donate funds to startups, have led to many successful businesses.
Famous examples include:
The largest project ever on the site was Brandon Sanderson’s collection of self-published novels, raising over $41 million.
Success on Kickstarter is a very real possibility for small businesses. After all, the giant brands you love started as small.
BUT YOU HAVE TO WORK FOR IT.
This means building a devoted audience…
Promoting and advertising your project concept…
And, observing the feedback on your idea.
Even with all of this valued work, there is still a big risk when it comes to Kickstarter campaigns…
What are the Cons?
One of Kickstarter’s unique policies is its All-or-Nothing Approach.
This means that if your project isn’t fully funded by the expected date, you receive none of the funding. So retaining a loyal following is absolutely essential.
This approach might be intimidating, a big risk for sure.
However, as the company’s co-founder and former CEO, Yancey Strickler put it
“IT IS THE DUTY OF THE MARKET LEADER TO PUSH THE CATEGORY AND THE INDUSTRY FORWARD.”
With that in mind, do you have what it takes to take the risk?
If so, a Kickstarter campaign may be the solution you’re looking for.
Will Kickstarter work for your startup?
Despite its risky approach, Kickstarter is a great way for small businesses to achieve more ambitious goals.
As long as you know it’s not gonna come easy.
Still, if you work through the discomfort and maintain your traction…
Your brand has the potential to become one of Kickstarter’s success stories.
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