Thoughts on running a $1 goal project
Posted: Tue Jan 07, 2014 7:41 am
I am planning to run my next project soon and am considering running it with a funding goal of $1 (It is by no means my goal to only raise $1). The project is one that no matter what someone pledges it will cover the cost of giving them the reward they have pledged for. Basically it comes down to a list of pros and cons; here is my list so far:
Pros:
- The project is something I enjoy and want to do anyway; backers will only mean I can do more of it and share it with more people, so really $1, $100, or $1000 goal it really wouldn't make a difference it would only change the chance of me reaching my funding goal.
- A $1 project is basically guaranteed to making its funding goal, adding another successfully funded project to my name, as-well as more proof of being someone who fulfills the rewards of their projects, and ultimately making more people comfortable with backing future projects.
- For every dollar past $1 the project success bar will go up by 100%, so at say even $10 the project will show that it is 1000% funded which may make people who see that large percentage think it must be really popular and check it out and back it too. Also, I'm not sure if having a higher precent funding has any effect on how high up your displayed on project lists on kickstarter, kicktraqs, and things like that but maybe it does.
Cons:
- Some people may see a goal of $1 and think that the project is a joke and not click on it or want to back it.
- Some people may like backing projects to help them get closer to their goal, but don't feel it is as urgent or important to back ones that have exceeded their goal.
That's about all I have so far, which is making me lean toward thinking it's a good idea. I would love to hear feed back of what others think and any other pros or cons.
Pros:
- The project is something I enjoy and want to do anyway; backers will only mean I can do more of it and share it with more people, so really $1, $100, or $1000 goal it really wouldn't make a difference it would only change the chance of me reaching my funding goal.
- A $1 project is basically guaranteed to making its funding goal, adding another successfully funded project to my name, as-well as more proof of being someone who fulfills the rewards of their projects, and ultimately making more people comfortable with backing future projects.
- For every dollar past $1 the project success bar will go up by 100%, so at say even $10 the project will show that it is 1000% funded which may make people who see that large percentage think it must be really popular and check it out and back it too. Also, I'm not sure if having a higher precent funding has any effect on how high up your displayed on project lists on kickstarter, kicktraqs, and things like that but maybe it does.
Cons:
- Some people may see a goal of $1 and think that the project is a joke and not click on it or want to back it.
- Some people may like backing projects to help them get closer to their goal, but don't feel it is as urgent or important to back ones that have exceeded their goal.
That's about all I have so far, which is making me lean toward thinking it's a good idea. I would love to hear feed back of what others think and any other pros or cons.