What risks are your crowdfunding supporters so afraid of? You’d be surprised at the list that most crowdfunders talk about whenever they have second thoughts about helping a campaign move forward. There are three basic types of risks that most crowdfunding projects have to deal with. Here there are in a list:
- Incompetence of the Creator
- Risks concerning the carry out of the project
- Creator fraud
If you stop and think about it, all three of these risks point to the same thing – the creator. Most of the risks that funders worry about go back to the person in-charge. When potential backers are not sure about the ability of the proponents of the project to push it to greater limits, they have second thoughts about ever giving support. Their first impression of the creator of the project will always be one of the deciding factors of whether they give or not.
Are the proponents of the project trustworthy? The quality of the job that the proponents have done in the past reflects the future of the campaign they just launched; thus, it is important to build your reputation when it comes to crowdfunding success. The goal may be clear, but the road to achieving it might not be that straight. A couple of bumps may be on the road, but it doesn’t mean that things can’t be done right.
Given the huge importance put on the shoulders of the creator’s reputation, most creators will notice a weakness in carrying out the project itself. Some may be too focused on the project itself forgetting to highlight that the ideas that fuel the project comes from real people with advocacies to fight for. Most creators of crowdfunding campaigns focus on the project itself: why it is different, what makes it great and why people should donate.
This is one of the biggest mistakes crowdfunders often commit. Sure, potential donors want to know the details of the project, but they want to know more about who’s working behind it. Their investment is not on the project alone but on YOU. Establish a reputation that they can trust and you don’t have to worry about convincing them. Donors should feel safe giving you their money even before you meet in person. After all, this is their hard-earned money.
The greatness of the project is not going to push the crowd to fund it. You will have to convey your personal background and build a good reputation. Deliver what they expect and you will get their support tenfold.
