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How to launch on Kickstarter
In this How To, we will tell you all the secrets to run a
Successful Kickstarter campaign. This story is based on Yaroslav
Isniuks, CEO of Petcube, experience on Kickstarter. Petcube
Raised $250,000 on Kickstarter and is a Y Combinator alumni
As usual, a detailed step-by-step project plan comes with each story
Make sure you really need Kickstarter
Kickstarter is, of course, the most widely known platform for
Crowdfunding. It enables you to draw more attention and funds for
Your project than any other tool. But it has its own unique features
Physical objects, devices and games are the most popular. Look
At Kickstarter success stories and assess your idea — will the
Kickstarter audience like it? Will it draw enough attention to be
Distinguished among other projects? The Petcube team decided to
Launch its project on Kickstarter right away because they had a
Gadget related to pets which was incredibly appealing to the media
Moreover, make sure your idea meets Kickstarter's project
Requirements. If your project doesn't meet Kickstarter demands, it
Would be useful to look at some less popular but less limiting
Crowdfunding services, such as Indiegogo or Selfstarter. Lots of
Successful projects based on these resources
Have been implemented. Take for example those
Fancy headphones with ears that raised $2,930,631
Plan your project
Arrange a detailed schedule which includes everything from developing
The idea to sending the product to backers. Think
Over all the details because it often happens that an
Idea that has raised the necessary funds faces issues
Thereafter, when it's time to implement the project
Don't overestimate yourself
The Petcube team had expected to launch the project in 3-
4 Months, but it wound up taking them 14 months. They
Needed that much time to understand how they should mass-
Produce the device for it to suit international standards
Determine the duration of the campaign
A campaign on Kickstarter can last anywhere from 30 to 60 days
It is said that 60 days is too long and it spreads resources too
Thin. On the other hand, a 30-day campaign may be insufficient
Find the best compromise, take seasonality and holidays into account
Evaluate the amount you need
Raise funds until you've got enough to implement the project. Don'
T articulate an amount less than necessary — you will have to follow
Through on the promises you gave. Moreover, a small amount can
Make you look petty. It may seem as though you don't appreciate
The value of your idea. On the other hand, if you set the bar
Too high, you risk coming away with nothing. One of Kickstarter'
S rules — it is always better to exceed your goal. The more
Money your project raises, the more backers want to buy it
Ample funding means the project must be brilliant and will
Definitely pan out. Petcube set their bare minimum goal at $100
000, But their idea was overfunded and wound up raising $251,225
Estimate fees and prices
Consider how much your product will cost and how much compensation
Backers will receive. Estimate prices as thoroughly as possible. On
The one hand, there are your prime costs and margin, and on the
Other, there are buyers' price expectations
You have to strike a balance