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Beware of Flexible Funding

Posted: Mon Jun 02, 2014 5:03 pm
by sbriggman
Read the full article here.

flexible funding indiegogo.png
flexible funding indiegogo.png (1.85 MiB) Viewed 3435 times


Let me know what you think. Do you agree? Disagree?

Re: Beware of Flexible Funding

Posted: Thu Jun 05, 2014 1:13 am
by DeenaLarsen
Hmmmm... I think this is correct for most projects. However, it depends on why you were doing the kickstarter.

Purpose: To get the minimum funding to do a project. Beware FF
BUT: To gain an audience, a market share, advertise a completely new approach or product, use as a literary platform, get a start on something--Consider FF carefully.

Budget, time, resources: Without the funding, the project won't happen. Period. Beware FF.
BUT: Without the funding, there are other ways to do this (tap retirement savings, get with a partner, sell the license): Consider FF carefully.

Momentum and audience: Without the funding goal and time limit, people will not be intrigued or motivated. Beware FF.
BUT: You have a dedicated fan base and a loyal following (e.g., school parents, music fans, author followers): Consider FF carefully.

Life is complicated!!

Re: Beware of Flexible Funding

Posted: Thu Jun 05, 2014 5:35 pm
by sbriggman
Very good points! I like your counter points and I definitely think they are items every creator should keep in mind (positives and negatives) of choosing flexible funding.

Re: Beware of Flexible Funding

Posted: Thu Jun 05, 2014 10:26 pm
by DeenaLarsen
Yep. I also like the discipline and panic the All or Nothing approach creates. I would very much appreciate it if you would write about the emotions of running a Kickstarter!

Re: Beware of Flexible Funding

Posted: Sat Jun 07, 2014 8:28 pm
by sbriggman
I've tried to do that in my ebook by interviewing creators. There are a few other interviews I've compiled here

I'm always open to guest post ideas, so if that is something you would like to share, let me know.

Re: Beware of Flexible Funding

Posted: Sat Jul 19, 2014 1:18 pm
by pris
I somewhat disagree because sometimes receiving any amount of money rather than nothing helps. Or if you are trying to raise 20k but only raise 18k total at the end of the campaign, it really hurts to not receive those funds becuase you were so close and worked so hard.

I was originally going to do a kickstarter campaign but when I heard about the felxible funding on indiegogo, I switched. I know my work ethic and I am working hard everyday to make sure I raise all the money I need. But if I can't raise it after all, at least I know I can get something, and that something will still help. Might not be the case for everybody but just my opinion.

Re: Beware of Flexible Funding

Posted: Fri Jul 25, 2014 5:25 pm
by tokinu28
You don't want to risk not delivering. It ruins your image as well!

Re: Beware of Flexible Funding

Posted: Sat Jul 26, 2014 3:53 am
by manderson99
I believe that anyone who goes with flexible funding has to have a backup plan to make sure they can complete their project even if they don't meet their goals. Even if it means using the partial funding as collateral for business loans. The project I'm involved with right now is flex funding, and we do have some backup plans. Our game is going to go live, no matter what. If you don't have a backup plan and you do plan on using a lot of perks . . . well . . . there is a risk there.

Always have a backup plan!

Re: Beware of Flexible Funding

Posted: Mon Jul 28, 2014 4:10 am
by seeingreen
When You do Flex Funding do you receive the funds directly right away well your project is still running, or is do you have to wait till after just like fixed?

Re: Beware of Flexible Funding

Posted: Sat Aug 02, 2014 12:23 pm
by TomPag
if you using paypal you will receive the funds immediately on flexible funding