A total of 64,216 projects have launched on Kickstarter (the largest crowd funding site), sending over $241 million to startup founders. Would you like a piece of that action?
I’ll bet. But not every project gets funded. Here’s a guide to how the successful get funded and which are the best crowd funding platforms for an online business.
How does crowd funding work?
Though there are many different platforms, they all work in broadly the same way.
You post a description of your project, a choice of funding levels ($25, $50, $100, for example), along with the rewards backers receive at each level.
And it works.
As of July 2012, 44.03% of Kickstarter projects raised full funding. Given that includes the 10% or so of projects that are canceled or suspended, that means when you post a project on Kickstarter you have roughly a 50:50 chance of succeeding.
That’s not too bad.
But you can boost those chances by following the common characteristics of successful campaigns.
Read more? Here you go: