Business and Finance

What is Kickstarter and How can Startups get funds From it

Kickstarter Crowdfunding Website

What is Kickstarter?

Nowadays, startups by young people and even old have started to evolve. If the entrepreneur in You wants to start a business, you must go ahead with your idea and be the change. Generally, the ideas are suppressed or don’t get implemented because of lack of funds. Kickstarter is a platform which can provide you funds to get started for such startups. But, there are some rules you must fulfil to become eligible to acquire it.

Eligibility For Funding

The rules are as follows:

A proper plan

Your project must have a proper plan which can actually be implemented and finished. You should be able to actually create something out of it.

Honest and Proper Presentation

The projects presented should not mislead people in any way and should be honest. You must showcase what have you done to implement the project or how much it has been completed. Photorealistic Renderings are not permitted.

Doesn’t raise funds for charity

Non profit organisations can present their projects here but there is no such promise to provide them with funds for charity or donation cause.

No Investment

Investments are not allowed on Kickstarter. Benefits like Revenue sharing, investment opportunities or equity are not provided.

Online Freelancing Vs. Traditional Jobs

Prohibited items

Projects which involve something illegal,dangerous or offering something as reward which doesn’t belong to the creator of the project in any way are prohibited. Use of weapons is not allowed. It must involve a creation of your own and not modification of already made items. Anything claiming to cure a disease is prohibited. Discrimination towards any group is not allowed. Kickstarter supports projects under different categories which include Art, Crafts, Design, dance, ,Film & Video, Games, food , Journalism,  Photography, music, Technology, Theatre,etc It is a community which will help in bringing your innovative ideas to life. Engineers , Doctors or scientists are indeed working hard and slaying in their respective fields. On the other hand, young minds are coming up with creative and innovative ideas to start something of their own. They somehow lack support and love they deserve. Many of the ideas are not implemented due to lack of support. This is one of the reason why we are not able to progress. Keeping this in mind, Kickstarter was started to provide such talented people with the support they need. The creators need to  set a goal for themselves: i.e. completing it in a certain amount of money in a specific time period. It is necessary to complete it in your goal time period. Otherwise, you will end up getting no funds and support. It is a great way to connect with people who think in a similar way as you do and have similar goals.

Work Hard

You must dedicate sufficient time and efforts to work on your project. If you are getting a platform to express your ideas, you must utilise it wisely. You must check that all the rules provided by them are fulfilled so that your project gets approval easily and as early as possible.

Proper Description

Your project must be properly presented and described. The main motive of the project must be properly explained. It should be presented in such that the backers are motivated to support you.

Wide reach

You should try to get a wide reach by promoting your project on Social Media networks. If you have a huge fan following or followers, it will really help you in a great way in starting a successful Kickstarter campaign.

Attractive reward-based crowdfunding

More Backers will want to invest in your project if attractive rewards are offered. You must give them the required credits while introducing your project and motivate them enough to share your project on other platforms.

Be responsible

Once you start such a campaign, you need to remain really active and responsible. You must complete your project on time and create something out of the box. You must take your responsibility seriously and work with full dedication towards your project.

Funding All or Nothing

Kickstarter follows Funding All or nothing concept. You need to meet the funding goal before starting up with your project. Funding goal implies that you need to set a goal of how much money is required by you to complete your project. If the creator is not able to set up a funding goal, funds are not provided. It helps in proper execution of the plan and motivate you to work better.

Fees

Kickstarter keeps a 5% fee from the funds which are collected by the creators along with processing fees of around 3 to 5 % charged by payment processors. If you are not able to meet the funding goal, no fee is charged as funds are not provided in such a case.

However, the ownership of the project remains with the creator.

You must go ahead if you really want to go ahead with a startup. Work on your idea with proper research and try to make a proper plan which can be actually implemented and not just ideas which seem to be unreal. After you are confident enough to proceed with your idea, choose the platform such as Kickstarter which will help support you in accomplishing your goal. It is also recommended to work with a good team rather than working individually. When you work with people with same interests, you’ll tend to reach your goals more effectively and timely. So, if you think you really have those entrepreneurship  skills, you must work on it and excel. Just work hard and success will not be so far. Failures are a part of everyone’s journey. Nobody is born perfect. You must learn from your mistakes and try to improve every time. A lot of success stories include a lot of failures. You must see the positive side to everything and get motivated to get started. If you are being provided with a platform to chase your dreams, you must go ahead. Be the change you want to see in the world and you will surely reach heights.

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