This is actually a more complicated question than it seems. Technically, you as the creator, can NOT contribute to your own Kickstarter project. You will notice that you can not access the Rewards buttons through your Kickstarter account.
However … a family member such as a spouse or child CAN contribute to your campaign. All they need is their own Kickstarter account. What more is that anyone can change the reward level dollar amount to whatever $ they desire. They can also increase the donation at any point during the campaign before it closes.
This means that if you want to strategize about the amount you want to raise for your Kickstarter campaign, you should consider these factors:
What is the minimum amount of money that you need to raise?
How much can you/your family personally contribute to your campaign to “close the gap”?
Kickstarter takes 10% of the total amount raised (5% to Kickstarter, 5% to Stripe).
Do I want to “seed” my Kickstarter when it first begins?
Kickstarter will promote projects as “Projects We Love” when there is momentum for a project, especially when it’s close to being funded or fully funded quickly.
Can you pare down your project from “Nice To Have” to “Essential”?
In my case, I wasn’t sure if I could raise the $12k needed to fund my book. I could also pare down the cost from “Essential” to “Nice to Have” by using a different editor and fact-checker (which would save about $1300). I decided to set the amount of my project to $6000, a number that seemed feasible to me. I was willing to kick in some of my own money to close the gap to make my Kickstarter project go, as well as to fund the rest of the project. Having my husband donate to my own project makes less sense because of the 10% fees that Kickstarter takes.
Pick the lowest number that you need to make your project go. You can always raise more money and that makes your project look really successful, thereby getting Kickstarter to help promote it.
Be transparent to your supporters about how much you are raising versus how much you really need and why.
If you are able to contribute money to your own project to make it go, hold it in reserve. You might need to get someone like a spouse or adult child to make that donation if your project is very close to funding but isn’t quite there in the final hours of your Kickstarter.
You are able to continue raising money after your Kickstarter ends through a pre-sale page that you have to set up yourself. I used a free eCommerce WordPress blog (WooCommerce) to set up this website to sell my book. I also plan to sell my book through Amazon once it is printed. There are easy and low-cost ways to set up your pre-sell page. I’ll research and list those on a blog post later.
So the bottom line is that you can not personally contribute to your own Kickstarter campaign, but you can have a surrogate do this for you. This surrogate be it your spouse, friend, or child can 1) type in any amount in any reward category and 2) increase that amount at any point during your Kickstarter campaign before it closes, but 3) Kickstarter will take 10% of that money so you are better off donating your own money later for “Nice To Have” features.
Hope this helps to clarify. I searched and could not find this information when I was setting up my own Kickstarter campaign. Questions about anything? Please leave them in the comments section below.
1 Shares
Leave a Reply
Alright, let me break down this Kickstarter wisdom for you. I've been knee-deep in crowdfunding strategies, and Mia Wenjen here is dropping some gold.
Firstly, Mia is spot-on about the creator not being able to contribute to their own Kickstarter project directly. You can't just boost your own campaign by tossing in a few dollars from your pocket. It's against the rules.
But don't fret! Mia knows her stuff. She's revealing a nifty workaround—your family can come to the rescue. Yep, your spouse or child with their own Kickstarter account can swoop in as your campaign savior. They can throw in money, adjust reward levels, and even up the ante during the campaign.
Now, Mia throws in some strategy bombs. She's talking about calculating the minimum amount you need to raise. Crunch those numbers. And remember, Kickstarter takes its cut—10% to be precise (5% for Kickstarter and 5% for Stripe).
She's all about that "Projects We Love" badge. Get that momentum going, and Kickstarter might just give you a shout-out. Timing is key, my friend.
And Mia's got a practical approach. If your project is a tad ambitious, think about trimming it down from 'Nice To Have' to 'Essential.' It's a game-changer. She did it for her book project, and it worked.
Now, Mia's personal touch comes in. She shares her own story, facing the dilemma of raising $12k for her book. Her solution? Set the goal at a more achievable $6k. Smart move. She even put in her own money to bridge the gap. But watch out, donating from your own pocket might not be the best move because of those 10% fees.
And the golden advice she dishes out—pick the lowest number you need, be transparent with your backers, and hold some funds in reserve. You might need that final push in the last hours.
Oh, and don't think the Kickstarter ride ends when the clock stops. Mia spills the beans on post-campaign fundraising. Set up a pre-sale page, use platforms like WooCommerce, and keep the cash flowing.
So, my friend, you can't put your own dollars in the Kickstarter pot directly, but Mia's got you covered with some savvy alternatives. Cheers to a successful campaign!
Technically, you as the creator, can NOT contribute to your own Kickstarter project. You will notice that you can not access the Rewards buttons through your Kickstarter account. However … a family member such as a spouse or child CAN contribute to your campaign. All they need is their own Kickstarter account.
Pledging to your own project is not allowed by either Kickstarter or our payments processor. Doing so violates our guidelines and may lead to suspension of your project.
If the project reaches its goal, the money is transferred and the project is funded. If the project fails to reach its goal, the money is returned to the Supporters.
Kickstarter does not have a specific maximum funding amount that creators can borrow. Instead, the funding amount for each project is determined by the creator's funding goal, which reflects the estimated expenses required to bring the project to fruition.
Kickstarter has an All or Nothing Funding Model. This means that if a campaign doesn't hit its funding goal, all the pledges are canceled and the project creator doesn't receive any of the pledged funds. All the money pledged by backers is returned to them and no money exchanges hands.
In March 2015, Pebble's second smartwatch project completed its crowdfunding and publicity run with 20.34 billion dollars raised in Kickstarter pre-order funding, becoming the most successful Kickstarter project as of July 2021. In 2022, however, the crowdfunding project Surprise!
Resale. All rewards must have been produced or designed by the project or one of its creators — no reselling things from elsewhere. Drugs, nicotine, tobacco, vaporizers and related paraphernalia.Weapons, replicas of weapons, and weapon accessories.
They also get to choose from a variety of unique rewards offered by the project creator. Rewards vary from project to project, but often include a copy of what is being produced (CD, DVD, book, etc.) or an experience unique to the project. Backers can also opt to pledge for a project without selecting a reward.
Yes, backers of a Kickstarter project can sue if the project creator does not deliver on their promises. However, it can be difficult to sue and recover damages, as the terms of a Kickstarter campaign are typically outlined in a contract that limits the liability of the project creator.
Do Investors Make Money on Kickstarter? Unlike equity crowdfunding, Kickstarter crowdfunding does not allow backers to make money or earn profits in the company's shares. While Kickstarter claims that they are not a store, the model is almost similar to ecommerce.
Not every project that launches on Kickstarter is successful. 10% of all projects never receive a single pledge and 60.89% of all projects fail. There have been 361,513 projects in total that were unsuccessful.
In these cases, the creator will receive all of the collected funds (minus our fees), and with the additional funds they may be able to increase the scope of their project, or improve the quality and variety of their rewards.
Funds raised on Kickstarter are generally subject to taxes. How much you owe can vary based on a number of factors, including the deduction of project-related expenses. We highly recommend talking to an accountant or tax advisor.
Kickstarter is a crowdfunding platform that was designed for people who want to create creative products, for commercial purposes. In comparison, GoFundMe works on the principle of funding personal (and charitable) causes.
This is taxable and must be reported on your annual tax return, According to the IRS, money raised on crowdfunding platforms like Kickstarter is generally considered income. Fortunately, since Kickstarter campaigns are generally considered businesses, you can usually deduct business expenses from your income.
Kickstarter is a crowdfunding platform that was designed for people who want to create creative products, for commercial purposes. In comparison, GoFundMe works on the principle of funding personal (and charitable) causes.
You need a supported bank account located in the same country you set up your project. This account must be owned by and in the name of the individual or entity raising funds. This must be a checking account that supports direct deposits in the currency in which you raise funds.
Hobby: LARPing, Kitesurfing, Sewing, Digital arts, Sand art, Gardening, Dance
Introduction: My name is Amb. Frankie Simonis, I am a hilarious, enchanting, energetic, cooperative, innocent, cute, joyous person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
