Hi :> Long time no see. How ya doing?
I’ve been caught up in tons of family visits and didn’t pump out as much content as I had hoped for but I did stumble upon a rather nice website – Kickstarter – the widely popular website that helps bringing many awesome projects to life. Today we’re gonna take a look to see how it can help you. Oh yes you, my passionate teenage friend, with getting the fund you need for your great business or any of your ideas !
Let’s get started then 🙂
I. What is Kickstarter ?
Let’s take a trip to the imaginary land first, shall we? Imagine you wanted to start a bakery store. You’ll need many things from equipment to ingredients, a rented space,etc,.. To accommodate for all of that, you’re gonna need some serious funding.
Normally, you’ll use your saving or borrowing from other people or the bank. But today it’s technology era. With the sudden popularity of crowdfunding sites, getting the money you need for your project has now been a lot easier.
Currently, one of the best and well-known sites is Kickstarter. Here it is. Their impressive feat:
To be honest, I never thought that crowdfunding can manage to bring in such a huge amount of money. If you click on their stats button, there are more detailed stats on that page. They also have a rather nice looking About Page.
II. Kickstarter Overview
It seems I has chosen a different direction today. Here’s the link to the site: https://www.kickstarter.com
Well, I captured the website homepage in 4 pictures above. Looks rather nice right? The design is minimalist with a view to show visitors (and potential backers) on-going projects that need funding as well as their current progress.
Note: The purpose of Kickstarter is to help you crowdfund your project. When I say earn income, it means from your project after it is done, not from the money from the fund itself.
For example, let’s have a look at “Headphone Project”
They pledge for 100,000$ but got 1,731,848$ as a result. While it’s not wrong to treat the extra money as some kind of reward and use it to make a much better project, it’s definitely not right to treat it as “income”. However, after the project is done, you can sell the headphones and make money from them.
Importantly, you need to NOTICE that I’m not writing about Kickstarter as a method of earning income but as a source of funding to help teenagers start their own business. Supposing you were the one help funding, how sad it would be to see cases of dishonest entrepreneurs using money on their personal purpose.
How possible is it? Isn’t there exist a safety net ? Don’t worry, I’ll help you explain its working system.
Now, let’s talk about how a Kickstarter crowdfunding project actually work and how it can help us teenagers complete our projects and earn income.
III. How Kickstarter Works?
So at its core, Kickstarter operates on an all-or-nothing model. After you’ve pledged for an amount of money, if it got enough fund ( = or > the amount pledged), you will receive the fund. In contrast, if the project doesn’t reach the amount pledged, you get nothing.
Please bear in mind its “operation”, as I said above, since it’s just a line between success and nothing.
Let’s take a look at an actual Kickstarter project.
The overall information will be shown on the top of each project. This will contain:
- The project name
- A sub-heading of the project
- A video and/or a series of images describing the project
- The meta data like Categories and Location
- The number of current backers
- The current amount of money backed
- The amount pledged for
- Other miscellaneous information
And remember to scroll down to reveal the expanded section for the owner to explain the project, the stories behind it and the Kickstarter rewards.
About the Kickstarter reward, it operates on a tier-base system. For example:
I’ll wrap this up here today. Next time we’ll go through how to launch a successful Kickstarter project and discuss tips helping you have a better chance to have your project fully funded. Make a try and tell me what you think k?
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