How to Set Your Crowdfunding Goal!
Every project requires a realistic crowdfunding goal. For equity crowdfunding,
slapping a round number on the listing scares investors away – true
budgets go down to the decimal. Rewards-based crowdfunding projects,
however, can boast a goal ending with zeroes for effect. (Think of the
cliché fundraising thermometer). But just because these campaigns lack
specificity does not mean they can bypass research.
Investors and supporters expect project creators to have stakes in the campaign – at least 5% to 10%. Planning, creating, and marketing all cost money,
so the quality of the campaign reflects your commitment. On top of the
aforesaid expenses, also factor in portal fees, shipping and handling,
taxes, web hosting, and the myriad other management operations. Explain
these expenses in detail in the financials section of your business
report.
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