Last week saw the release of the IPCC's latest report, confirming that climate change is 'widespread, rapid, and intensifying'. And humans have already made some irreversible changes - 'some of the changes already set in motion—such as continued sea level rise—are irreversible over hundreds to thousands of years'. With over 200 authors and over 500…
There are two main models of consumer crowdfunding - flexible funding (keep whatever you make) and fixed funding or all-or-nothing (keep everything if you hit your target - but get nothing if you don't). Both models have advantages, but lots of people new to crowdfunding think flexible funding is less risky. I strongly advise most…
Huge thanks to Ingrid Fernandez at All The Business Bits podcast, with whom I chatted about all things crowdfunding - why your audiences are so crucial, what creators get out of running a crowdfunding campaign (other than money!), and why it's really about community and connection. https://videopress.com/v/JBJLQFv5?preloadContent=metadata Listen/download All The Business Bits at the podcast…
I've had a couple of conversations recently about what counts as 'success' on Patreon, and something that's maybe not obvious from the outside is that creators who earn over $1k a month there are pretty rare. From February 2020, a paper from Tobias Regner in the Journal of Cultural Economics says: Our data show that…
Most crowdfunding campaigns start with a person or team who've got three things: 1) a brilliant idea, 2) no money to make it happen, and 3) willingness to put in the time and hard work. Sounds great - what else do you need? For crowdfunding, you need a crowd - you need backers. You can't…
What's the difference between product and project crowdfunding - and which type is your campaign? It's worth thinking about ahead of time, as it can really help you pin down who you're talking to and why they'll care about your work. When you're running a rewards-based crowdfunding campaign, both product and project campaigns share a…
There are plenty of good reasons to decide against running a crowdfunding campaign - but a few that might not be so great. If you're having second thoughts about your campaign, and you've done your research, it might be a great business decision to delay it. But how do you know if you're being realistic,…
Over the last five years, 130 community-led crowdfunding projects in London have received crucial support from the Mayor of London, raising in total £4.85 million - and now Nesta have released a report looking at the impact this has had. Crowdfund London has offered local groups the opportunity to receive up to £50,000 from the…
Your launch day is a big deal, but why does everyone keep talking about the importance of the first 24 hours of your crowdfunding campaign? Show your potential backers they can trust you Crowdfunding relies, at its heart, on the idea of the wisdom of the crowd. If enough people agree that a project is…
Platforms like Indiegogo, Kickstarter and Crowdfunder have been around for a while now. Their model is reasonably simple to understand: set a target and a deadline, launch the crowdfunding campaign, and try to hit the target in time. But some creators are now considering longer-term options that offer recurring funding, or something closer to a…
