Crowdfunding Success Secrets
Different sites have different rules, but the basics of setting up your crowdfunding project are pretty much the same no matter which system you’re using.
Here are the basic steps to setting up a crowdfunding campaign:
- Create your initial project, including a detailed information sheet about yourself and your project and how money you need to complete the project. It’s a good idea to include details about what you’ll use the funding for, being as specific as possible.
- Set a time limit for raising funds. This is usually anywhere from 1 to 90 days. The longer it runs, the better chance you have of meeting your goal, but it will obviously take longer to receive the funds.
- Promote the project in order to receive the most possible backers.
- When backers contribute money, the funds will be placed into a temporary escrow account.
- Once the project has run its time limit, if it has reached its goal, the donations will be released from escrow.