ENTREPRENEURSHIP / AUG. 11, 2014
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How to Crowdfund Your Creative Project

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devianart

If you are looking to fund a creative project, you may find yourself hitting several roadblocks before you even attempt to get your idea off the ground. This is in part due to intangibility. Potential investors have no concrete evidence your project will sell since marketing analysis, income reports, and projected sales data are not readily available. Funding a creative project can be tedious, but with the growing popularity of website driven crowdfunding your financial goals are attainable. 

Get the Facts

In 2011, crowdfunding sites successfully raised over $66 million for various creative projects. In 2012, that number jumped to over $1 billion. Currently sites that solely provide platforms for creative projects, like Kickstarter, have raised over $2.5 billion. These numbers are expected to steadily climb in the coming years. If you are ready to get out there and start your campaign, now is the time.

Get it Together

Your vision for your creative project must be clear, well defined, and communicable. The only thing you have to show investors is an idea, make it solid. Use whatever media you have at your disposal to bring your project to life including graphic designs, beginning stage prototypes, and reports regarding potential production costs. Don’t forget to also include some type of information regarding why your creative project is meaningful to the masses.

Make Your Pitch Platform Unique

Since crowdfunding is the "new thing," the platforms are becoming increasingly saturated with up-and-coming artists, entrepreneurs, and inventors. Your campaign platform has to stand out from the crowd. If you are an artist, have a friend shoot a video of you in your creative space hard at work. Musicians can post fan videos of shows, links to show reviews, and provide audio link song clips.

Prepare Your Social Networks

Prime your Facebook by posting teasers, use your Twitter to create a buzz. Let people know you are out there and are ready to begin chasing cash for financing. Build a buzz before you even launch your crowdfunding campaign.

Give Them Cake

Kickstarter and other creative project crowdfunding sites allow you to offer rewards or perks to those who pledge significant donations. While you are working on your social media, find out from your current supporters what they would find to be a great perk or reward for donations like first looks, gallery shows, or excusive studio listen-ins. 

Get Your Goal in Check

Even though this is a creative project, you still need to think like an entrepreneur. Get all of your costs in order before setting your goal donation amount. Some crowdfunding platforms will relinquish ALL of your donations even if you are just a few dollars off from your goal amount. Calculate cost, calculate them again, then choose your goal limit.

Big or Small, Take it All

Allow multiple points of entry for all types of investors. Set your donation amounts low so that every investor can participate. Provide investors the option to pledge as little as $1 this will allow even fledgling investors the chance to help you reach your goal.

Put Yourself Out There

Your platform should be professional, but it must command attention through your passion and dedication to the project. Thoreau once said, "The world is but a canvas to our imagination." Show the potential investors your world through your work. Putting your true self out there cannot be denied by investors, keep it simple and honest - you will reach your financing goal.

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