What is Kickstarter & How Does it Work?
TLDRKickstarter is an online crowdfunding platform where creators can post their projects and raise funds from the public. It operates by setting monetary goals with deadlines, and if not met, no funds are collected. The platform is known for its diverse project categories, creator accountability, and incentives for higher donations, making it a popular choice for bringing creative ideas to life.
Takeaways
- π‘ Kickstarter is an online platform for creative project funding.
- π It allows creators to post their projects and ideas for public funding.
- π― Creators set a monetary goal and a deadline for their projects on Kickstarter.
- π€ Crowdfunding reduces the financial burden on individual donors by spreading it across many supporters.
- π« If a project doesn't reach its funding goal by the deadline, no money is collected and supporters are not charged.
- π Kickstarter features a wide range of project categories, including music, technology, food, and design.
- π Creators are encouraged to maintain transparency with supporters by providing detailed project specs and updates.
- π Accountability is a key feature, with creators expected to address potential challenges and feedback from backers.
- π Incentives are often offered to backers who donate above certain amounts, such as exclusive rewards or products.
- π An example given is a cookbook project offering digital and physical copies as rewards for different donation tiers.
- π Techboomers offers a free course for those interested in learning more about Kickstarter.
Q & A
What is Kickstarter?
-Kickstarter is an online fundraising platform where creators can post their projects and ideas, along with specifications for their finished product, potential risks, and progress updates. It is often referred to as a crowdfunding platform.
How does the crowdfunding model on Kickstarter work?
-On Kickstarter, creators set a monetary goal and a deadline to meet it. Supporters can pledge money towards the completion of the project. If the project doesn't meet its funding goal by the set deadline, the creator receives no money and the supporters are not charged for their pledges.
What are the three key features of Kickstarter mentioned in the script?
-The three key features are: 1) Kickstarter is full of diverse ideas and inventions across 15 different project categories. 2) Creators are encouraged to be accountable to their supporters by being open about their projects. 3) Many projects offer incentives for donations above a certain amount.
How does Kickstarter ensure that creators are accountable to their supporters?
-Creators on Kickstarter are encouraged to be as open as possible about their projects, which can include writing project specs, submitting proofs, identifying potential challenges, providing progress updates, and responding to feedback from supporters.
What kind of incentives do projects on Kickstarter offer for donations?
-Projects on Kickstarter often offer incentives for people who make donations above a certain amount. For example, a cookbook project might offer a desktop wallpaper for donations over $10, a digital copy of the book for donations over $25, and a hard copy of the book for donations over $65.
What are some of the project categories available on Kickstarter?
-Kickstarter has 15 different project categories, including music, technology, food, and design.
What happens if a Kickstarter project does not meet its funding goal by the deadline?
-If a project does not meet its funding goal by the set deadline, the creator receives no money and the supporters are not charged for their pledges.
How does the internet facilitate the Kickstarter business model?
-The nature of the internet makes the Kickstarter business model easy to implement by allowing creators to reach a larger number of potential donors at once, reducing the amount of money that each donor has to put in.
What is the role of supporters in a Kickstarter project?
-Supporters play a crucial role in Kickstarter projects by pledging money towards the completion of the project. Their donations help bring the creators' ideas to life and they also receive updates and sometimes incentives for their contributions.
Where can one learn more about Kickstarter and its workings?
-To learn more about Kickstarter, one can check out the free Kickstarter course on techboomers.com, which provides detailed information on how to use the platform effectively.
Outlines
π Introduction to Kickstarter
Kickstarter is an online fundraising platform where creators can post their projects and ideas, seeking financial support from the public. It operates as a crowdfunding platform, enabling creators to receive donations from a large number of individuals, thus reducing the financial burden on each donor. Creators set monetary goals and deadlines for their projects, and if the funding goal is not met by the deadline, no money is collected, and supporters are not charged. The platform is known for its diverse range of project categories, including music, technology, food, and design. It also emphasizes accountability, encouraging creators to be transparent about their projects by providing detailed specifications, potential risks, and progress updates. Additionally, many projects offer incentives for supporters who donate above a certain amount, such as rewards like digital or physical copies of a product.
Mindmap
Keywords
π‘Kickstarter
π‘Crowdfunding
π‘Project
π‘Monetary Goal
π‘Deadline
π‘Supporters
π‘Rewards
π‘Accountability
π‘Innovation
π‘Techboomers
Highlights
Kickstarter is an online fundraising platform where creators can post their projects and ideas.
It is often referred to as a crowdfunding platform, allowing creators to get donations from a larger number of people at once.
Creators set a monetary goal and a deadline to meet it by, and supporters can pledge money towards the completion of the project.
If the project doesn't meet its funding goal by the set deadline, the creator receives no money and supporters are not charged.
Kickstarter has 15 different project categories including music, technology, food, and design.
Creators are encouraged to be open about their projects, including writing project specs and identifying potential challenges.
Supporters can receive incentives for donations above a certain amount, such as rewards for a cookbook project.
Rewards can include digital or physical items, such as a desktop wallpaper, a digital copy of a book, or a hard copy of a book.
The nature of the internet makes the Kickstarter business model easy to implement.
Creators stay accountable to their supporters by providing progress updates and responding to feedback.
Kickstarter enables people with creative ideas to get the funding they need to bring their ideas to life.
The platform is popular for helping turn ideas into reality with the help of the internet and its global reach.
Supporters can pledge money towards projects they believe in and help bring them to fruition.
Kickstarter provides a platform for creators to share their vision and engage with a community of potential supporters.
The platform's success relies on the trust and engagement between creators and supporters.
Kickstarter offers a unique opportunity for creators to test the market viability of their ideas before full-scale production.
The platform has been instrumental in launching many successful projects and products.
Transcripts
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