No Nonsense Commentary and Advice for Entrepreneurs

Kickstarter Non-Starters

By on March 3, 2014 in Growing a Business

kickspy-300x120-o5-black-1I guess it’s no secret that many Kickstarter crowdfunding projects never get funded. However, I didn’t realize that the number of Kickstarter non-starters was quite so high. According to Kickstarter’s own statistics, 56,862 (44 percent) of all Kickstarter projects were funded, while 73,711 (56 percent) were not. And within the funded projects, the vast majority (74 percent) resided in the funding band of $0-$9,999. Perhaps even more surprising is that among the unsuccessfully funded Kickstarter projects, 12,666 (or 17 percent) attracted no funding pledges whatsoever.

In case you’re wondering what kinds of Kickstarter projects failed, I recently discovered a cool website — kickspy.com — that tracks all the many different Kickstarter projects, including the ones that failed. Once you get to the Kickstarter failure page, you can drill down into the different categories of projects, such as art, fashion, food, and technology. Check it out — it’s a lot of fun, and instructive at the same time.

So if you’re thinking of taking the Kickstarter road to crowdfunding a capital infusion for your business, keep in mind that most Kickstarter projects are nonstarters. To succeed, you must have your marketing and publicity engine primed and ready to go, and your product fans lined up before you put your idea out for funding. Check out this column on Inc.com for some great tips for Kickstarter success.

 

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Author: Peter Economy

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