Portfolio Center 12/4/13 Crowdfunding Presentation

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Portfolio Center 12/4/13 Crowdfunding Presentation

  1. 1. Career Fridays All Things Funding: Crowd Funding, Scholarships, and Grants
  2. 2. Crowdfunding ›  What’s the deal with the crowd stuff? ›  Crowdfunding ›  Crowdsourcing ›  Why is this currently one of the most viable ways to fund or source projects? ›  Is this only a passing fad?
  3. 3. Crowdfunding for Everyone ›  ›  ›  ›  ›  ›  ›  ›  ›  ›  ›  RocketHub – Art, Science, Business, Social Cause based projects GoFundMe – this one you can also use for personal non creative projects and situations Indiegogo – started out as tech, web and app development, indie gaming. Now pretty much anything ArtistShare – Music PledgeMusic - Music Fundable – Businesses, Startups Fundly – Charitable and cause based funding. Nonprofits, mission trips, etc. Louder – Social and cause based campaigns for media space, marketing and advertising Mobcaster – TV Weeve – Nonprofits Spot.us – community funded journalism
  4. 4. Other Crowdfunding Platforms ›  ›  ›  ›  ›  ›  ›  ›  ›  ›  ›  ›  http://www.newjelly.com/ http://startsomegood.com/ http://www.pozible.com/ http://www.causes.com/ http://www.pledgemusic.com/ https://www.sellaband.com/ http://www.artisteconnect.com/ https://www.oocto.com/ http://www.feedthemuse.net/ http://www.tunefund.com/ http://www.artistshare.com/v4/ http://www.hitrecord.org/
  5. 5. Which Crowdfunding Site is Right? ›  What kind of projects does the site support and promote? ›  How many users have profiles? ›  What is the success rate of funding? ›  Is it all or nothing or keep it all? ›  How does the site get paid? How do you get paid? ›  How easy is the site to use and how connect is it? ›  How long or short can a campaign be?
  6. 6. 5 Important Crowdfunding Principles ›  From 1.  2.  3.  4.  5.  Victoria Wescott’s Ted Talk Make Something Awesome Sell Directly To Your Audience Don’t Ask For Charity Follow Through You might get tips
  7. 7. Crowdsourcing.org
  8. 8. Kickstarter ›  $904 million pledged to date ›  From ›  1.5 5.2 million people million repeat backers ›  Successfully funding over 52,500 projects
  9. 9. Kickstarter’s Rules ›  Funding for projects only. ›  Projects must fit Kickstarter’s categories › Art, Comics, Dance, Design, Fashion, Film, Food, Games, Music, Photography, Publishing, Technology, and Theater. ›  Projects, ›  projects, projects. Prohibited uses: No charity or cause funding. ›  Prohibited content. There are some things just NOT allowed on Kickstarter.
  10. 10. Join  Kickstarter   Develop  your  project  scope   and  story   Set  a  Funding  Goal   Set  a  Funding  Deadline   Create  Reward  and  Pledge   Tiers   Create  a  video  to  tell  your  story  
  11. 11. Facts ›  10% of projects finish having never received a single pledge ›  1 in 4 prospective projects are rejected ›  56% Failure rate ›  However, 82% of projects that raised more than 20% of their goal were successfully funded. Thus, this acts as a tipping point ›  Warp and Weft example
  12. 12. The Money ›  How much money do I ask for? ›  How much do your really need? What makes sense for your project? ›  You can always raise more than your goal, but never less. ›  Average Goal on Kickstarter: $4,500. More than half of the projects on Kickstarter are in the $1000 to $5000 range. Statistically projects are overfunded by around 130%, which would actually make that $4,500 project = $6,100 ›  ›  The really interesting equation: ›  Average Backers: 86 x Average Pledge Amount: $71 = $6,106 ›  What was the average funding amount of a project? ›  Can you scope or segment your project?
  13. 13. Who is Funding Your Project? ›  Your Friends ›  Your Family ›  Your Fans ›  Your Internet
  14. 14. Project Updates ›  How are you accountable to complete the project? ›  What should you do if things don’t go as planned?
  15. 15. Curated Pages www.kickstarter.com/ columbiacollegechicago
  16. 16. Other Things to Think About ›  Crowdfunding is an alternative to traditional revenue streams – what can you combine it with? ›  Saturated or shall we say “crowded” marketplace ›  Perfect Pitch ›  It’s a hustle

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