Saturday, January 19, 2013

Some crowdfunding insights

I started to post a comment on Joseph Bloch's blog, and realized it was a post unto itself. Here it is.

I was never a supporter of Dwimmermount, so for me some of the noises coming from people have been hard to understand. But, I have now at the start of the year been reviewing some of the crowdfunding campaign I have been contributed to and contacted some of them for news. I think I have realized a few things.

First, if you set up such a project, thing long and hard on how long time every step will take.

Secondly, review that time estimate with a critical eye. Now double the time estimate. If the estimate is more than one year, try to find ways to do most of the work ahead of time, before going public.

At this stage I think you should probably re-think the whole gamble if you can't push it down below one year. I gave Chaosium the benefit of the doubt, but I would not do it for some random dude with a blog.

Thirdly, make sure you update regularly. Those who are stakeholders after the campaign have finished should be able to see what's going on after you took their money. Preferably, keep everyone posted on how close you are to the planned schedule.

Fourthly, make sure everyone else gets update too! This is something very few do! The thing is, for some high profile campaigns, even those who did not chipped in will hear some of the Chinese whispsers that spread on the net. If someone hears the wrong thing, rumours will spread and the next thing you know "facts" about you taking the money and running is all over the net. Regardless it will probably hurt you.

Now, sitting on the first row, without being involved in crowdfunded publishing myself, it's very easy to have opinions. Take these my thoughts for whatever they're worth.
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