Something that you may have heard tossed around in the business world is ‘Kickstarter’, one of the leading funding platforms to date. Although a few of our readers may have an idea of what the platform is, or perhaps they don’t have any idea and are here to find out, we’ve filled this article with what you’ll need to know about Kickstarter.
From what it is, the guidelines, and starting or funding a project, we’ve got you covered.
What Is Kickstarter?
Kickstarter is a funding platform that helps creatives get their ideas, that otherwise may not be able to have a chance, on their feet. Kickstarter is driven by two main groups; creators and backers. Creators will come forward with a creative idea and backers fund the ideas. How do creators present their ideas?
They set up a page that shows backers what their project details are and prototypes through the use of videos, images, and text. Creators create reward levels for backers who decide to pledge a specific amount; the larger the pledge amount the greater the reward. The creator decides on the deadline and funding goal.
Once the creators have the support and funds from the backers, the creator develops and produces their project. Backers will get to see the finished result; however, depending on the project it may take up to months for backers to see the result.
What Are Kickstarter’s Guidelines?
Kickstarter accepts an average of around 75 percent of projects submitted; the other 25 percent is declined. This is usually due to the lack of following Kickstarter’s guidelines. On their site, they give a thorough walkthrough of their guidelines and what is necessary to be accepted.
It’s important to be aware, before deciding to create a project, that Kickstarter is an all or nothing platform. This means that creators must reach their funding goal by the set deadline or else they don’t receive any money that’s already been given by backers. If they don’t reach the funding goal by the time the deadline is met, no money will change hands.
This rule was made to limit complications and minimize risks; creators can have the opportunity to try again at a later date. Some of the other guidelines that Kickstarter has put in place are that creators can not offer equity, must create something that can be shared with others, and can not attempt to fundraise for charity.
Starting a Project, Funding a Project, and Browsing Projects
Starting a Kickstarter project is fairly simple, although getting a guarantee that you’ll be accepted isn’t as easy. A Kickstarter project is a great form of exposure for many people with great ideas, but don’t have the funds to bring their ideas to life. Ensure that, before submitting a project, you’ve examined all rules and guidelines. Creators are most often turned away due to not complying with Kickstarter’s guidelines.
When it comes to pledging money to a specific project, Kickstarter has made the process easy and quick. Simply select the green ‘Back This Project’ button on the specific project that you’re choosing to fund. From there you’ll get to choose a reward and donation amount. If the project doesn’t meet the deadline, your credit card won’t be charged.
If the project meets the deadline, your card will be charged after the project deadline. No matter the outcome, Kickstarter will always send you an informational email after the deadline date.
Anyone is welcome to browse projects, even if they aren’t planning to back a project. Browsing projects is easy; you can simply scroll through the available projects on the Kickstarter site, where you’ll find fresh favorites, recommended projects, and more. If you would like to search for a specific category, you have the option to browse categories or use the search option.