Posted on November 12th, 2013 in Financial Services
You might be thinking how can I start my great negosyo idea without much money? I don’t have enough funds to start it, or I am not qualified to get a loan in a bank. There is actually an alternative and its a new kind of funding your business, its called crowdfunding.
One of the most successful one on the social funding services is Kickstarter.com which connect innovators to grassroots supporters. Here’s how to play the game.
• Write up a script that describes yourself and your project. Hint: Kickstarters like to hear of some expertise.
• Target a funding goal and a deadline to reach it. Hint: Modest requests (under $10,000 or P450,000) with a looming deadline (less than a month) achieve the most success.
• Devise a reward to offer supporters in exchange for their donation. Hint: Kickstarters like something tangible, like the finished product.
• Make a video that presents your pitch and asks for support. Hint: You don’t have to go multi-media, but a slick video increases your chance of success.
• Submit your project proposal to kickstarter.com, which promises a quick review to insure it meets guidelines spelled out on the website. Hint: Kickstarter entertains only commercial projects, no causes or crusades. You can’t use it to pay tuition.
• Once accepted on Kickstarter, email the news to everyone you know with the link to your kickstarter project page. Hint: The more Facebook likes and Twitter mentions, the better your chances of success.
• To support a project, go to kickstarter.com and click the green “Back This Project” button on any project page. Your credit card gets charged when and if the project reaches its funding goal. Hint: Scan the reward options, which often grow interesting at higher levels.