Project Reports

Vol. 14 Preparations Before Launch

Before launching your project there is a variety of things that need to be done before you’re ready to have that launch button pressed! 

We want to take the time to introduce these things so that you know what you need to do before you proceed!。

(1)Does the content of the project appeal to the crowdfunding crowd?

At a glance, crowdfunding might look like a really easy way to start a business or product. But it is actually very difficult and only works with certain types of products and projects. You need to be able to gauge if the project would be appealing to the population that knows or understands crowdfunding. 

(2)Creating returns that are appealing and worth your backers time

Crowdfunding is separate from charity in a variety of ways, and this is something that needs to be kept in the project creators mind at all times. By creating returns that are both appealing and worth potential backers time, they would be more willing to both back the product and share with people around them. An important step is to reach out to potential backers and find returns that might be best for you target audience.

(3)Creating the lowest target you can

What is the lowest backing you can receive and fulfill the project aims? You may feel that having a high target it is best but actually the reverse is true.

The reasoning behind this is that for backers, giving money to a project is a risk. This is especially true in All In projects. It’s hard for a backer to see a project coming to life if the target is too high, so by keeping things simple and adding second goals afterwards, it makes the project easier to understand and back.

(4)Create a video! 

By creating a short 3 minute video, you can simply introduce both yourself and the project, you can convey what the money will be used for and how you plan to make your project a reality. Also it is both more personable for the backers as well as giving the potential backers the option of not having to read a whole project page. The quality of the video doesn’t need to be movie studio quality, just quality enough that shows that you’re committed to the project!

(5)Creating a second goal and having it in mind for after your project is successful

We touched on this in point 3 but by having a second goal (or stretch goal) it shows that you are both excited and engaged in the project and forward thinking. By also thinking about a second goal, you can break the original project into the base idea and the ideas around it, making it so that if the project is successful you can make it a reality, and then after you can start adding parts that would make the product better using the second goal. It also makes creating project updates easier!

By thinking about all these things, you can start your crowdfunding project successfully! 

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