It’s entirely driven by crowdfunding, so donations from the general public fuel these dynamic new ideas.
Here’s a look at what’s involved with creating and backing a Kickstarter project.
How Kickstarter Works
Kickstarter is driven by creators and backers.
Creators present creative project ideas, and backers fund those projects.
Project creators set a funding goal and a deadline.
The creators also create reward levels for backers who pledge specific amounts.
The more a backer pledges, the bigger the reward.
When enough backers have funded the project, the creator can develop and produce their vision.
Depending on the project’s complexity, backers may have to wait months to see the finished product.
Creators cannot promise backers any stake in the business, such as revenue sharing and equity.
Every creator must first review the KickstarterProject Guidelinesbefore submitting a project.
Kickstarter accepts about 80 percent of submitted projects.
The remaining 20 percent are turned away, usually due to non-compliance with the guidelines.
If they don’t reach the goal in time, no money changes hands.
Kickstarter put this rule in place to minimize risk.
Creators can always hit it one more time at a later time.
When people fund a project, they choose one of the predetermined awards the creators present.
All Kickstarter pages have an Estimated Delivery Date section to specify when backers will receive their rewards.
It may take several months before anything is delivered, especially if the reward is the product itself.
Backing a Project
Pledging money to a project is easy.
snag the greenBack this Projectbutton on any project page you choose.
Select a donation amount and a reward.
Amazon’s checkout system processes your information.
Credit cards aren’t charged until after the project deadline passes.
If the project doesn’t reach its funding goal, your credit card is never charged.
Whatever the outcome, Kickstarter sends all backers an informational email after the project end date.
Browsing Projects
Browsing through projects is easy.
If Kickstarter doesn’t offer you the creative category you need, check out Patreon.
