Kickstarter 101

inset_3What exactly is Kickstarter?

Kickstarter is a funding platform for creative projects. Everything from films, games, and music to art, design, and technology. Kickstarter is full of ambitious, innovative, and imaginative projects that are brought to life through the direct support of backers that believe in the creative project,

Since Kickstarter’s launch in 2009, over $2 billion has been pledged by more than 10 million people, funding more than 100,000 creative projects. Draw The Plane is now part of this history.

What are the basics?

  • A project is a finite work with a clear goal that a person or group brings to life. Think albums, books, or films.
  • The funding goal is the amount of money that a creator like me needs to complete their project. Funding on Kickstarter is all-or-nothing (Why?  See below).
  • Payment. This is the important point: No one will be charged for a pledge towards a project unless it reaches its funding goal. This way, creators must form a solid budget before moving forward. So you are not charged any money at the time of the pledge, only if the project is 100% funded,
  • A creator (Me) is the person or team behind the project idea, working to bring it to life.
  • Backers (You) are folks who pledge money to join creators in bringing projects to life.
  • Rewards are my chance to share a piece of my project with my backer community. Typically, these are one-of-a-kind experiences, limited editions, or copies of the creative work being produced. In my case it’s travel postcards, luggage stickers, bookmarks and limited edition prints.
  • A project is a finite work with a clear goal that you’d like to bring to life. Such as Draw The Plane.

Why is funding all-or-nothing?

All-or-nothing funding is a core part of Kickstarter and it has a number of advantages:

  • It’s less risk for everyone. If you need $5,000, it’s tough having $1,000 and a bunch of people expecting you to complete a $5,000 project.
  • It motivates. If people want to see a project come to life, they’re going to spread the word.
  • It works. Of the projects that have reached 20% of their funding goal, 81% were successfully funded. Of the projects that have reached 60% of their funding goal, 98% were successfully funded. Projects either make their goal or find little support. There’s little in-between.

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