May 10, 2013

Fan-Funding Lessons

One of the more difficult parts about making a great idea a reality is funding the operation.  There is a need for creativity on all sides, but there is also the need for production – and one of them won’t do well without the other.  Traditionally, a good idea needs to come with a great sales pitch and a financier to get the ball rolling.  The trouble is that good ideas are everywhere, so how are we to know what is worth our investment, and what is simply a cost liability?  We all have those friends who think they have an idea for the next big thing, but nine times out of ten they’ll do nothing about it except talk.

Kickstarter is a great medium to fund these ideas, since it doesn’t require just one person to finance an operation.  If a million people donated a dollar to a campaign then it wouldn’t cost them much collectively, it would only cost them a dollar each.  Plus there are usually incentives to funding an operation – like the promise of first dibs on new gear or the simple satisfaction of knowing that they had their hand in supporting a great idea.