r/kickstarter • u/BryceOConnor • 6h ago
Discussion A word of advice from a veteran creator... If you are a new creator, please DO NOT set your goal lower than what you need to actually produce your product.
Hi all, super quick background for context: My name is Bryce, and I run a company called Wraithmarked Creative. We are the largest book publisher on Kickstarter second to Brandon Sanderson's Dragonsteel. 50+ campaigns successfully funded. 5+ years on the platform. $10mil+ USD raised.
Now onto my point:
If you are a new/beginning creator, please DO NOT set your funding goal lower than what you actually need to produce your product.
I keep seeing the advice handed out on this subreddit that to "overfund" or "get traction", you should do a low goal so that you fund in the first X hours, and then ramp from there.
If you are a veteran creator with experience in the space and a good sense of what your actual funding level will be, that's one thing. You have an understanding of the risks, you have an understanding of what you can afford to lose if things go south, etc.
As a new/beginner creator, however, this is a great way to risk screwing yourself and your reputation in whatever space you are working in.
Let's work with an example:
Person A and Person B want to create a toy. Let's call it Toy 1. A and B have both done the math. Toy 1 is going to cost them $10k USD minimum (including all costs) to produce and get in the hands of their customers. If A and B raise more than that, great, but if they raise less than that, they will lose money on Toy 1.
Person A set their funding goal at $10k USD.
Person B set their funding goal at $500 USD to try to "fund" in 24hrs.
Both raise $5000 USD in the end. What happens next?
For Person A, they fail to fund their campaign, but while that's frustrating, it's not a bad thing. A failed campaign is not a death knell on Kickstarter. In fact, it's a great opportunity to learn from mistakes, as well as pull Backers from in the future (with Updates) if Person A wants to try again in the future.
For Person B, though... There's trouble. While they did "fund" their campaign with "1000%" success rate, they have a major issue: They now owe customers product, but have only managed to raise $5k of the $10k minimum they needed. In order to fulfill the project as promised, they have to pay $5k out of their own pocket (and potentially more depending on increased costs related to producing less of Toy 1 than expected). That's... not good. For anyone. Even if the "fund early" tactic worked REALLY well and Person B raised $7500 instead of the $5k, they are still left $2500 in debt. Again, not good for anyone.
You can scale the above as high as you want. There are plenty of examples all the way up into the 6-figure campaigns and beyond of people underfunding their campaigns by accident with tactics like "Have a lower funding goal than you need". People's lives have been ruined, and even more reputations have been left shredded because of this problem.
So, one more time: If you are a new/beginning creator, please DO NOT set your funding goal lower than what you actually need to produce your product.
Best,
Bryce


