Make sure you are familiar with crowdfunding terms and features such as:Īll or nothing funding – where a project must be fully funded before its fundraising period expires or no money changes handsįees and charges – fees and charges will usually be applied by both the crowdfunding website and the payment service provider Yes it is boring, but like any contract you enter, you should always fully read the terms and conditions of a crowdfunding website. Many crowdfunding sites have rules about the minimum amount of time before you finish you campaign and your project happening. This may be your busiest period, and having time to dedicate to an intense online campaign too isn’t likely. There is no point going through a campaign immediately before your event, performance, exhibition etc. Try to time your crowdfunding campaign appropriately. To help you decide whether crowdfunding is for you, here are some considerations.Ĭrowdfunding, like most forms of fundraising, is a full time job while you are doing it. Crowdfunding takes time and effort, no matter what anyone tells you. There are many examples of artists and creatives that have found it relatively easy to attract money for their crowdfunding campaign, but this isn’t always the norm, nor should you expect this for your project. Crowdfunding works best if you are prepared for some hard work, you have an engaged audience and you have a well prepared idea that you can communicate effectively. With the meteoric rise of crowdfunding websites around the world, you might presume people are waiting in line, chomping-at-the-bit to fund projects. But as is true with most situations in life, you shouldn’t take things at face value.
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