What You Need to Know About Kickstarter

Kickstarter is a funding platform or space for numerous creative projects ranging from games, films, technology, art, music and design.

Kickstarter consist of imaginative, innovative and ambitious projects that are book or brought to reality through the direct support, pledges and donations of people.

Kickstarter has been since launched on April 28, 2009 as over 1.5 billion dollars has been donated by more than eight million individuals providing funds to more than 80,000 creative and innovative project.

How Kickstarter Works?

How Kickstarter Works

There are thousands of projects funded on Kickstarter at any stated or given period. Each project is crafted and solely produced by the person or individual behind it. Most of the designers, film makers, artists and musicians one sees on Kickstarter have total control and responsibility over their projects. They most of their time shoots their videos, build their project pages and thinking of the types of rewards to be appropriated to sponsors and backers. When they are fully ready, a creator can book or launch their project on the site and distribute it with their environs or community.

Every project creator determines their projects deadline and funding goal. If individuals or people are interested on the project, they can donate and pledge funds so as ensure the project is executed. If the project finally reaches it funding goal, all backer’s credit cards are debited when the time lapses. If the project falls short, no one is billed or charged. You must note that funding on Kickstarter is all-or-nothing.

Basics about Kickstarter

A project can be defined as a finite work with distinct goal that will be brought to life or accomplished. Just like films, books or albums.

The funding goal is the sum or amount of fund that a creators requires to finish or complete the project. No one can be charged for a pledge towards a project unless if it reaches or gets to its funding goal. Funding on Kickstarter is all-or-nothing, this way creators will have the estimates or budget they planned out before advancing.

A creator is an individual or a person or probably a team behind the project idea, ensuring to bring it to reality. Backers are folks, individuals or people who pledge money to associate with creators in ensuring that the projects is successful.

Rewards: This is a creator’s advantage to distribute a piece of their project with their supporter or backer community. Basically, there are one-of-a kind experiences, copies or limited editions of the creative work being produced or created.

What Kickstarter is for?

What Kickstarter is for?

Everything on Kickstarter must have to be a project. A project must have a distinct goal such as writing a book or a work of art or probably making or creating an album. A project will totally be completed and something will be created by it.

Note: Kickstarter prohibits projects to generate or fundraise for charity or ensure financial incentives.

What Funding all-or-nothing stands for?

All-or-nothing funding is a major aspect of Kickstarter and it has numerous benefits which include:

  • It motivates: if people or individuals intends to see or view a project come to reality, they are going to spread or share it to the world.
  • Low Risk for everyone: If you demand $3000, it is difficult having $1000 as a lot of people expects you to complete a $3000 project.
  • It ensures that projects meet its funding goal and successfully funded. Projects could either find little support or make their goal. There is little in between.
Reasons why people or individuals back projects:

Reasons why people or individuals back projects

Various Backers rallies around their friend’s projects. Some supports or encourage new efforts from individuals or someone they have fewer or long wanted or admired. Some are just touched or moved by a new idea or concepts while others are moved to pledge by a project’s award-a limited edition, a copy of what is being produced or a custom experience in relation to the project. Backing a project is not just pledging or donating funds to creator but pledging a support to creative and innovative idea that you need the world to know it exists.

Where Projects do come from

Projects on Kickstarter come or arise from writers, designers, artists and creative people all over. They could be ambitious or zealous or modest, classic or new ideas with a twist. Every projects is vital and it is something that someone or executor wishes to exist or come to reality in the world.

What you need to give in returns to your backers

What you need to give in returns to your backers

Backers that funds or supports a project on Kickstarter must have an insider or inner look at the creative process or its creativity as they assist the project come to reality. They also need to select from a bountiful of special or unique rewards affected or granted by the projector creator. This rewards can varies from project to project and also involve a copy of what is being manufactured or produced (book, DVD, CD, etc.) or a special encounter on the project. Project creators must ensure hundred percent (100%) possession of their work and Kickstarter cannot be used to grant financial returns, equity or to solicit loans.

How to get backers for your projects

Most of the initial or previous funding usually spring up from friends and fans of a particular project. If they are in love with it, they will share the word to the friends and more. Facebook, Twitter, Blogs, Press and Kickstarter itself are also great sources and links of pledges and traffic. Although a lot of people (millions) visits Kickstarter every week.

What you need to understand about Kickstarter

Kickstarter is a sole company which comprises of 122 people who are based in Brooklyn, Green point. They spend most of their time enhancing their website, providing solutions and answers to questions from creators and backers and exploring amazing new projects to share with others. Everyday has its adventure as they gather experienced projects as they occur.

Necessary fees on Kickstarter

If a project is effectively or efficiently funded, Kickstarter charges a five percent (5%) fee to the money or funds received. Payment processors will also add payment processing fees, though estimated between (3-5%). If funding is not successful, there will be no charges or fees.

How Backers will know or determine if a project will follow through

How Backers will know or determine if a project will follow through

Booking or launching a Kickstarter is a good public act and creators ensure their reputation at risk when they try it. Backers should trace or find creators who have a distinct plan in how their project will be finished or completed and who possess a history of ensuring their creative ventures and other projects yield faithful results.

Creators are advised to distribute links and a lot of background information as possible and backers need to organize an informal decision about the projects they support. If a creator possesses no showcased experience in carrying out their project or does not distribute key information, backers must take that into recognition. A creator can also include links to any websites that exhibits works that relates to the projects or past projects. The creator can also try to appear in the video, get connected to twitter or Facebook and lastly do not hesitate or feel reluctant to gather or request information from a creator.

The responsibility of completing a project as promised

The sole responsibility of a project creator is to finish or complete their project, it is important to note that Kickstarter is not responsible in the development of the project themselves. Kickstarter does not monitor creator’s willingness to complete their projects or guarantee projects. On Kickstarter, backers can ultimately determine or reduce the worthiness and validity of a project by whether it will be funded or not.

What Creator is meant to do once their project is funded

What Creator is meant to do once their project is funded

If a project is successfully funded, the creator is in charge of finishing the project and accomplishing their reward. The basic obligation to backers is to complete all the work that was promised.

If a creator has done this, they have accomplished their duties and obligations to their backers and at the same time, backers need to understand and comprehend that Kickstarter is not a store. When one supports a project, he or she helps to establish something new-not demanding something that already exists. There is probability that something could occur that stops the creator from being able to complete the projects as promised. If a creator is totally unable to finish the projects and accomplish rewards, they must ensure every reasonable ways or means of carrying out the project to a total conclusion for their backers.

What Creators must do if they encounter problems while ensuring or completing their project?

If problem arises, creators should post a project update detailing the situation. Creating awareness of the story through sharing it, speed bumps and all is very important. Majority of the backer’s supports projects just because they want to view something occurs and they will like to partake on it. Creators who are transparent and honest sometimes find backers to be easy going and understanding.

It is sometimes not unfamiliar for things to take longer than required. Sometimes in executing the project, it can prove more difficult that the creator has anticipated. If a creator is carrying out a solid faith effort in completing their project and is honest and transparent about it, backers will thrive their best in remaining patient, confidence and understanding while demanding or asking continued accountability from the angle of the creator.

If the problems are serious enough that the creator cannot handle their project, creators must find or look for a resolution. Steps should involve recording or detailing how funds were spent, offering refunds and other actions and steps to please backers.

Reason why Kickstarter cannot guarantee projects

Reason why Kickstarter cannot guarantee projects

Kickstarter is a modern way for audiences and creators to perform together so as to make things happen. Most traditional funding systems are profit-focused, risk-adverse and thousands of innovative and great ideas never get a chances or privilege.

Kickstarter ensures a world that is full of creative responsibilities, that is one where anyone assist or aid in deciding what bright idea will becomes tomorrow reality. Kickstarter comprises of innovative, ambitious, zealous and imaginative ideas. Most of the projects on Kickstarter are in their infant stages of development and are seeking for a community that will bring them to reality. The main fact Kickstarter ensures creators to accept risk and ensures to create a new, modern thing is a characteristic and not a bug.

Kickstarter refunding the money if a project is unable to fulfill

A Kickstarter cannot or does not issue refunds. Transactions are between creators and backers directly. Creators collect all funds or money (minimal fees) immediately after the campaign finishes.

What Kickstarter must do to protect its community?

Kickstarter have a lot of dedicated, focused integrity team that regulates and monitors the system for dubious or suspicious act.

This team evaluates reports that are forwarded to them by their community and they carry out action if they signal something that does not tally with their rules. It is vital to know that Kickstarter is developed and built on all-or-nothing funding system. No one is billed until a project accomplishes its funding goal and the funding period duration or ending. This allows backers to judiciously use their time in evaluating a project and also give integrity team some time to watch into any matter generated by backers.

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