James McGirk’s calculus equation (Wired, June 2014) to a successful crowdfunding campaign has some good points.
Your campaign should be presented as professionally as possible, it should be communicated in an interesting way, it should be interesting in and of itself, and there should be some tangible and some intangible benefits to the potential donor. The “Money Woe Multiplier”, defined as ‘the factor by which the donor’s rent exceeds the national mean multiplied by their student debt loan,’ is where ioby’s mission and Kickstarter’s business part ways.
ioby is a funding tool for all people, not just young creatives with access to wealthy roommates and uncles (young creatives welcome, too!). If you’re working to make positive change in your community, we’ll make sure you can build support from within your neighborhood, from an important source of patient capital: your neighbors. You can learn an actual formula to a successful crowdfunding campaign with ioby’s friendly staff through our training program, FastCash, or join us in person at GIFT’s Money For Our Movements in Baltimore August 2-3.
Like Kim Klein says, no matter who you are, you already know all the people you need to know to fund your work.