When it comes to producing a documentary or putting together a game there are so many expenses before you even get it to market. Now there is a better way to get your creative ideas off the ground.
Imagine a portal where you can tell everyone about your project and then ask them to pledge some money (if they like your idea) in exchange for the chance to be involved, in some way in what you are producing.
I have been following Double Fine Productions on Kickstarter who set out with a goal of achieving $400,000 in pledges to create a new game and a documentary of the game being made. Founder Tim Schafer put together a great pitch video and then subsequent support videos to tell everyone about his project. It was a compelling video, it gave me a great insight into what Tim was wanting to achieve along with loads of personality and an insight into the difference one person could make my contributing financially. Tim and his team at Double Fine Productions achieved a phenomenal result of over 87,142 backers and over $3 million dollars raised when the listing ended on March 13th 2012. Check out the Kickstarter page here.
This is one of the powerful ways the internet opens up many new opportunities for people with creative ideas, and best of all you don’t need experience in looking for the one big backer to get the project off the ground. I love the fact that supporters are global and they can help you taylor the product for the end user, which in many cases is people just like them.
Pozible is the Australian version, not quite as big as Kickstarter just yet.
Pozible have put together 12 tips to a crowd funding success which anyone considering this approach should consider carefully. They can be summarised as:
1. Plan your project and set yourself a goal
2. You’re inviting people to be a part something – so don’t be afraid to ask for the money
3. Collaboration – who can compliment you with additional skills to get the project off the ground?
4. Influencers – who do you know that is well known that can support you with the project with endorsements etc?
5. Learn from others – look how others have been successful in attracting pledges for their project
6. Be Sociable – talk about your project at every opportunity
7. Share and connect online
8. Another day, another dollar – build momentum and stay in contact with your audience so they know you are serious in achieving your project
9. Say thank you
10. Without an audience, you’ve got very little – get to know them
11. Reward your supporters – be creative with what you can offer
12. A story to tell – why is your project unique and why should we believe you will see the project through, how did you come up with the idea in the first place?
If you check out the Double Fine Productions page on Kickstarter, you will see how they have met all of the above points to attract the level of funding they did.
Yours in Crowd Funding.