Since its debut in 2009, online funding platform Kickstarter has been giving hope to budding entrepreneurs who are rich in ideas but short on money. But it’s not as simple as just asking people to fund your dream company, then sitting back as the money flows in.
In his new book, “The Kickstarter Handbook,” Don Steinberg talks to veterans of the crowd-funding process.
“That’s what I tried to put into the book: these real people’s experiences,” says Steinberg. “There isn’t really a formula. Generally speaking, it usually requires doing a lot of steps the right way, but plenty of campaigns succeed from one particular area — a really great video or an amazing product.”
According to Steinberg, the real challenge isn’t so much taking off as it is staying afloat after securing your funds.
“Some of the successful campaigners have been surprised by how complex it can actually be afterwards,” he says. “Creative designers in Brooklyn and San Francisco are suddenly becoming large-scale manufacturers and learning a completely different part of the process.”
His ultimate advice for those starting a new business or launching a pet project on Kickstarter? “Think about what you’re doing apart from the money,” he advises. “Think through what your target market is.”