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Portfolio Center 12/4/13 Crowdfunding Presentation
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Portfolio Center 12/4/13 Crowdfunding Presentation

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  • 1. Career Fridays All Things Funding: Crowd Funding, Scholarships, and Grants
  • 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. 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. 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. 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. 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. Crowdsourcing.org
  • 8. Kickstarter ›  $904 million pledged to date ›  From ›  1.5 5.2 million people million repeat backers ›  Successfully funding over 52,500 projects
  • 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. 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. 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. 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. Who is Funding Your Project? ›  Your Friends ›  Your Family ›  Your Fans ›  Your Internet
  • 14. Project Updates ›  How are you accountable to complete the project? ›  What should you do if things don’t go as planned?
  • 15. Curated Pages www.kickstarter.com/ columbiacollegechicago
  • 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