Entrepreneurs all over the world face an inherent problem when it comes to attracting funds—it’s difficult. Luckily, crowdfunding is one viable alternative to bank loans, angel investors or venture capitalists. The well known crowdfunding platform, Kickstarter offers its services to anyone who has an idea and wants to get a proof of concept, needs an extra marketing tool, or just needs funds for a first production. In other words, bring a project to life.
Since its funding in 2009, more than 130,000 projects have been successfully funded on Kickstarter. While the majority raised just a little above the funding goal, there are projects that manage to raise millions of dollars and grow into successful companies. But how do they do it?
Overfunding has a general understanding of surpassing the initial funding goal in a determined campaign period. This can can be the best thing that happened to a small business. Yet, it is risky, challenging, and hard to get—but not impossible. One of the ways to look at it is exploring previous successfully funded projects and learning from the creators’ experiences.
Market Inspector has collected primary data from interviews with successful founders from three different continents to present you the most common key steps to get overfunded. It is known among former founders that choosing a smaller funding goal increases the chances to raise the whole amount of money.
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While every experience is different, every project creator mention having entrepreneurial thinking and good communication skills as dominant success factors. Having successful project creators to share their stories on how they got overfunded, is meant to help those who want to skyrocket their funds and build a business out of their Kickstarter campaign.