CrowdFunding Tips for Turning Inspiration Into Reality

Wired

Wired


By KATE MURPHYM, MIKE WHITEHEAD’S big idea was to design a better cast-iron skillet. Stephanie Turenko’s big idea was to make an animated short film about her Ukrainian grandmother. Colin Owen’s big idea was to manufacture a hard-to-steal bike light.

Many of us have ideas like that, hatched while staring out the window or doodling on a cocktail napkin. And that’s where the dream ends, stunted by a lack of capital, credibility and confidence.

Not anymore. Online crowdfunding is helping better cast-iron skillets and other big ideas become reality.

What started as a handful of websites promoting people’s pet projects has turned into hundreds of platforms that serve as vehicles for not only fund-raising — the record is $10.2 million — but also product development and market research.

ucceeding at crowdfunding isn’t as easy as raising your hand and saying you need money. It demands strategy and stamina, though a sincere appeal can still trump the slickest competitor.

“A lot of people think if they just put their project on Kickstarter, money will start rolling in,” said Mr. Whitehead, who used the popular Kickstarter crowdfunding platform last fall to raise $211,027. “It’s not as easy as it looks.”

Successful crowdfunding campaigns, most often 30 days long, take several months of preparation. With the help of an industrial designer, Mr. Whitehead first spent six months developing a prototype skillet in his Portland, Ore., basement so he’d have something to show potential backers. He then spent another four months reaching out to friends and family as well as culinary, technology and design publications, alerting them to his coming Kickstarter campaign.
.

Source and read more
http://www.nytimes.com/2014/01/23/technology/personaltech/crowdfunding-tips-for-turning-inspiration-into-reality.html?_r=0

Tags: , , , , , ,

HEADLINE NEWS

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news [...]

NPRAfter Outcry, Crowdfunding Site Patreon Backs Off Plan To Raise FeesNPRThe popular crowdfunding service Patreon has backed off plans to change its payment structure, after widespread, vocal and passionate opposition from creators and their fans. Last week, the site announced it wou [...]

CoinDeskKickstarter ICO? Don't Count On It Says Crowdfunding Leader ...CoinDeskThe company most widely associated with crowdfunding, Brooklyn-based Kickstarter, has no plans to get into the initial coin offering (ICO) business. Coming in response to the news yesterday that compet [...]

TechCrunchHow hate speech crowdfunding outfit Hatreon crept back online ...TechCrunchIf you want to make a living creating white supremacist content, you're probably not going to do it via sites like Kickstarter and Patreon, which prohibit hate speech. Fortunately there's Ha [...]

Bitcoin News (press release)Crowdfunding Giant Indiegogo Joins the ICO BandwagonBitcoin News (press release)Crowdfunding Giant Indiegogo Joins the ICO Bandwagon Indiegogo is a popular crowdfunding platform headquartered in San Francisco that was founded in 2008 by Eric Schell, Slava R [...]

HuffPostIs Crowdfunding Really a Good Idea for Innovation?HuffPostHere's a head-scratcher for you: according to new research, if you refer to your product or idea as both “novel” and “useful” in your crowdfunding campaign, your funding will be lower than it would if you just decl [...]

Coindesk (press release) (blog)Crowdfunding Giant Indiegogo Opens to ICOs - CoinDeskCoindesk (press release) (blog)The startup revealed today that, through an existing partnership with MicroVentures, it will begin offering services to projects seek to use the blockchain funding model. [...]

FortuneWant to Hold Your Own ICO? Indiegogo Can Help You With ThatFortuneCrowdfunding sites like Kickstarter (kickstarter, +0.00%) and Indiegogo raised start-up cash for a generation of online entrepreneurs, but one increasingly visible method of internet-sourced financing seemed to h [...]

ForbesCrowdfunding Do's And Dont's From iFundWomen's Karen CahnForbesDuring our conversation, she was transparent in sharing that her first software company, VProud, failed because she “did everything backwards” and spent too much time trying to perfect the product. “Pe [...]

TechCrunchFormer Gawker employees are crowdfunding an effort to buy Gawker.comTechCrunchWhile Univision acquired most of Gawker Media's sites last year (and renamed them as the Gizmodo Media Group), the deal didn't include Gawker itself. In fact, BuzzFeed reported last month [...]

CFB Finance

Marketwired

  • Crowdfunding
  • Crowdfund
  • Peer to Peer Lending
  • FinTech
  • Reg A+
  • Reg CF
  • Crowdfunding USA

Press Release

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |