Crowdfunding Myths: “If You Build it, They Will Come”

Who out there has seen the 1989 classic film “Field of Dreams,” staring Kevin Costner? It’s a good movie all about taking a leap of faith. Kevin Costner hears a mystical voice repeating, “If you build it, they will come.” He eventually understands that to mean he should destroy half of his corn crop to build a magical baseball field! The good news is, it saves his home from foreclosure and his family from certain ruin. Unfortunately, many folks who are new to crowdfunding hear the same voice, and become convinced that crowdfunding means building and posting a project. If I build it, the Internet Angels will come and give me money! The harsh reality is, “Field of Dreams” is a movie. If you build it and don’t do anything else, they will not come, they will not contribute, and you will be disappointed.

Don’t get me wrong. Building your project correctly is important. Choosing the right Financial Goal, creating interesting Rewards, writing an inspiring Project Description, and recording a strong Project Video are all pieces of the puzzle that can make or break your project. But once they are complete and the project is posted, your work is not done. In fact, posting your project is just the beginning!

Post your project, then immediately reach out to “nearest and dearest.” You must encourage your closest friends and family to contribute first. The first chunk of contributions will give you and your project the credibility you need to successfully generate more contributions.

For more information on what to do next, click here and read the “Promotion” tab.