About Crowdfunding Basics In 30 Minutes

Just a few short years ago, if you wanted to produce a new gadget or raise money to make an independent film, you had no choice but to scrape together funding on your own … or hope a generous friend or relative might put up seed capital. These days, there’s a new approach: crowdfunding. Sites such as Kickstarter, Indiegogo, and GoFundMe can not only help you raise money to fund your idea or cause, they can also help you establish a community of enthusiastic supporters.

In Crowdfunding Basics In 30 Minutes, author and crowdfunding expert Michael J. Epstein explains how to plan and execute a successful crowdfunding campaign. In a single sitting, you will learn about the different types of crowdfunding projects that are possible, including entrepreneurial startups, creative or artistic projects, charities and community causes, individual support campaigns, and patronage funding.

This crowdfunding guide covers budgeting basics as well as goal-setting, not to mention the importance of preparing professional-looking campaign assets such as video clips, photographs, and calls-to-action. The author explains how to design reward tiers that not only attract backers, but also won’t bankrupt your budget. Other topics include:

  • Determining how much money you can raise
  • Pros and cons of platforms including Kickstarter, Indiegogo, GoFundMe, Patreon, and more
  • All-or-nothing campaigns vs. partial funding campaigns vs. patronage systems
  • How to plan and budget a crowdfunding campaign
  • Time requirements for organizers
  • Hidden costs, from shipping to backer melt
  • Taxes and legal requirements
  • Best practices for tiered rewards
  • Telling your story with images, video, and text
  • Ten top tips for creating a great campaign video
  • Six tips for an effective text pitch
  • Nine best practices for tiered rewards
  • Why campaigns fail: 10 pitfalls to avoid
  • How to keep momentum going in a lagging campaign
  • The art of communicating with crowdfunding backers

Throughout Crowdfunding Basics In 30 Minutes, Epstein cites his extensive experience organizing crowdfunding campaigns as well examples from some of the hundreds of other campaigns he has backed. If you have been dreaming about launching your own crowdfunding project, this crowdfunding book will be an invaluable guide. Order it today!

Each chapter contains lots of Crowdfunding examples. Buy it today!

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Excerpt: Introduction to Crowdfunding Basics In 30 Minutes

While crowdfunding has become popular with celebrities and founders with significant fan and financial bases, the stories presented here will focus on creators with more modest resources. These examples serve as models for connecting enthusiastic niche communities with campaigns based on bold ideas or important needs. Crowdfunding is truly available to just about anyone with a great idea and a willingness to work hard to get it out there.

Consider the following examples:

  • Maxwell Bogue, Peter Dilworth, and Daniel Cowen created 3Doodler®, a 3D pen allowing artists to hand draw 3D objects. Their two crowdfunding campaigns helped test the public’s interest in their unique tool, leading not only to nearly $4 million in pledges, but the launch of a successful business.
  • Alice’s dog Pepper has a serious, but treatable, medical condition that would result in a shortened lifespan without expensive surgery. Alice’s friends and family helped organize a crowdfunding campaign to raise the $5,000 necessary to cover Pepper’s medical bills.
  • Jonathan wanted to create a large-scale, interactive art installation. He crowdfunded Visualize Somerville, a multisensory, attendee-controlled art installation. This ephemeral experience allowed backers to not only support his project, but to also actively engage and become part of the creation itself.

  • Catherine, a songwriter and bandleader, had created a concept album celebrating historical and mythical women, but the project was incomplete. She wanted to add a visual component to the project and had come up with the idea of producing a film anthology to accompany the songs. She raised money to hire 14 filmmakers from around the world to create the Bring Us Your Women film.
  • Every year, FamilyAid Boston sets up a crowdfunding campaign for volunteer runners taking part in the Boston Marathon. Runners and their supporters solicit pledges that are used by the organization to help homeless families find housing. Last year, the campaign raised more than $100,000. 
  • Alexandria turned to a crowdfunding patronage system to support her projects. Backers pay a small amount of money at a regular interval, or when she creates something new. This allows her to focus on doing video and photo shoots to showcase her costume creations.
  • Roger was a journalist looking to write a historical piece about the use of certain technologies in Cold-War-era espionage. There was great interest in the story from several publications and from the public, but his budget was too limited to thoroughly investigate without additional support. Roger raised money via crowdfunding to file Freedom of Information Act requests and to travel to primary sources to gather information for his story.

The scope and goals of these projects may have been different, but each one attracted a group of backers to help overcome financial and logistical hurdles to transform an otherwise impossible dream into a successful reality. Moreover, backers were empowered to be part of bringing the creator’s ideas to fruition.

How can crowdfunding work for you?

Now that you have read a few success stories, you may be wondering if crowdfunding could work for your concept. This book will not only explain how crowdfunding works, it will also show the practical steps involved in running a campaign:

  • In Chapter 1, we will examine the philosophical and logistical differences between crowdfunding and traditional funding, before breaking down the types of projects well-suited for crowdfunding efforts.
  • Chapter 2 is all about planning, from choosing the right platform to setting up a realistic budget.
  • Chapter 3 explores the preparation of promotional materials and discusses how to set up reward tiers for backers.
  • In Chapter 4, we will explore communication tactics, including press outreach and methods for keeping backers engaged.
  • Chapter 5 covers post-campaign activities, from keeping backers informed about the progress of your project to distributing rewards.

By the time we finish, you will be well on your way to running your own crowdfunding campaign. We only have 30 minutes, so let’s get started!

i30 Media Corporation and IN 30 MINUTES guides are not associated with other brand names, product names, or trademarks cited in this book. Crowdfunding In 30 Minutes is an independent publication and has not been authorized, sponsored, or otherwise approved by any of the companies, projects, or platforms listed in this guide. Crowdfunding Basics In 30 Minutes is not affiliated with Crowdfunding for Dummies or similar titles published by other firms.