Money Money Money
Ireen Laarakker, MSc,
Founder Dutch Design Starter
Crowdfunding for designers
It’s not (only) about the money
Content
➔ Short introduction crowdfunding➔ No story no glory➔ Check for crowdfundability➔ How to start a campaign
It is growing explosively
But what is it?
Funding goal achieved? Money is transferred and you start realisation
Funding goal NOT achieved? Money is returned to investors/consumers
Before you start consider this:
➔ Succesrate design projects on Kickstarter 39%
➔ Average size successfull campaigns €7000➔ Minimum time spent: 1 day a week
So first find out:
➔ Do you have a story?➔ Is your design “crowdfundable”?➔ How to execute a successful crowdfunding
campaign
No story No glory
➔ WHY would people share your story?◆ Are you solving a problem? (waterworks)◆ Do you have an inspiring goal? (mine-kafon)
No story No glory
➔ If it’s only about the shape, the material, the production technique, or you starting your first production, it’s not a story for crowdfunding design
➔ Can you ‘lend’ a story?
Is your design crowdfundable?
➔ Is it new? REALLY new!➔ Is it suitable for internetsale?➔ Do you have proof of concept?
Proof of concept
Do you have a story?
Is your design crowdfundable
?
Need investors to
start production?
Decision flow chart
YES
YES
YES
Try regular sales channels:➔ gallerie➔ (design) webshop➔ (design) presale (be carefull
when giving price reductions!)
Consider crowdfunding?
Try investment funding➔ Loans➔ Stock➔ Convertible
bonds
NO
NO
Learn how to execute a campaign
NO
Prepare your campaign➔ Build a team➔ Platform choice➔ Goal➔ Rewards➔ Video➔ Networkbuilding➔ Launch & promote
Build a team➔ 30% more chance of success➔ Increases your reliability➔ More expertise➔ Larger network
Platforms
➔ Type (equity, rewards, loan, donation)➔ International/ local/your own website➔ niche/general➔ The success does NOT depend on the
platform, it depends on YOU➔ Find the platform that bests suits your
needs
Goal settingHave a concreet goal (selling 50 chairs is not a goal, investing in a production mould is).
Your goal shoud be your Break Even Point.
Rewards➔ 5 to 8 rewards➔ small donation for supporters: €5➔ most slected: €25 , €70 ➔ earlybird offer➔ dealer package➔ ‘mecanas’ reward
Video➔ max 2 minutes (less is more)➔ Original (if possible)➔ Show don’t tell (no talking heads)➔ Call to action➔ Be convincing, honest, passionate, likeable
and reliable
Crowdfunding = networkfunding
➔ start your mailchimp account RIGHT NOW!➔ Start following relevant blogs➔ Start building social media networks
Launch & Promote
➔ Don’t forget offline networking!➔ Organise a kick-off for your ambassadors ➔ Keep feeding your network with interesting,
relevant information (about your campaign)➔ Ask your network for help
What can DDS do for YOU
➔ Proof of concept➔ promotion in design world➔ Advice & coaching➔ Network & expertise in production and
distribution➔ Adding flexible crowdfunding
functionality to YOUR website.
It’s not (just) about the money
➔ It's about networking➔ It's about promotion➔ It's about research➔ It's about engagement➔ It's about (pre)sales