A huge number of entrepreneurs from all fields are now turning to crowdfunding to finance their startup ventures. The popularity of crowdfunding has reached a point where new crowdfunding platforms are entering the scene all the time. However, in spite of all that or indeed because of it, it’s no secret that running a crowdfunding project can be extremely stressful for the project owner.
At least it’s not a secret after a crowdfunding project launches and the crowdfunding management team finds themselves quickly overwhelmed.
As the industry leader in crowdfunding consulting, we have accumulated vast experience in working closely with many project creators from before the launch of the crowdfunding campaign straight through to the last day. There is no denying the fact that running a successful crowdfunding project is about efficient execution of an endless flow of tasks. The demands of managing a crowdfunding campaign can sometimes get the better of even the most organized person. Here are a few tips that can help you remain calm and composed while running your campaign.
Though fundraising is one of the major reasons behind any campaign, many crowdfunders have more than one expectation from their project. Many campaign owners tend to look for secondary goals such as creating brand awareness for the company or product, pushing a deadline, acquiring validation of their product, etc. As the crowdfunding campaign continues, it’s always better to keep your eye on the price of the bigger picture where your campaign is concerned. Don’t forget that you have multiple objectives and many of them may not be scalable using the standard metrics of your crowdfunding platform.
Always establish your priorities well in advance of launching a crowdfunding campaign. Sticking to these priorities will not only push your project towards success, but also help you stay relaxed and focused. While running the campaign, it can be extremely tempting to check the funding tally frequently. However, you will only end up exposing yourself to undue stress fueled by the relentless pressure to succeed. Yes of course it’s natural to be curious and checking on the status of your project is always a very good thing to do — once per day or twice at the most. Beyond that you’ll just make yourself bonkers.If you are using Kickstarter, use your Kickstarter app only to respond to the questions and comments from your backers in a timely manner. Make it a point not to check the pledges more than once in a few hours. Seriously. No more than three times per day. At the very most. And less might even be better for your mental health and emotional well being.
It is always better to acknowledge the fact that all of us have our limits. During the course of your crowdfunding project you’ll receive plenty of suggestions and ideas. Though you may want to accept these ideas, not all of them will fit your campaign or help your cause. Therefore, you must be prepared to politely turn down ideas at times even at the cost of losing a backer. Otherwise, you may end up accepting secondary tasks which can easily and without warning jeopardize your primary goals in the process. Being well aware of your limitations will certainly stop you from accepting tasks beyond your capacity.
Tim Ferris, author of The Four Hour Workweek, calls this the art of saying no. While a little off-topic, I urge you to read this book and change your life in so many ways beyond the scope of this crowdfunding blog article.
We come across many project owners that are extremely tough on themselves. Always keep in mind that there are factors beyond your control that may have a bearing on your campaign. Concentrate on factors that are within your control and don’t lose any sleep over the rest.
Crowdfund Buzz is a surefire alternative for you to stay relaxed while our experts help you handle the ordeal of improving, promoting and advertising a crowdfunding campaign. Our crowdfunding support has done it for a huge number of projects and can surely do it for you too.