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Don’t Even Think About Crowdfunding Without Doing These 3 Things First

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B Cavello is a key part of the brains and brilliance behind the Exploding Kittens’ $8.8 million success on Kickstarter. Having moved on from that project, B is now working as a crowdfunding consultant through B is for Business. B, who prefers the personal pronoun “they,” will share a bit of their genius with us.

According to Fox Business, Exploding Kittens raised $8.8 million on Kickstarter from 219,382 backers. This Wikipedia page ranks Exploding Kittens 15th biggest in the history of crowdfunding.

Here are B’s insights:

“Don’t even think about crowdfunding without doing these 3 things first.”

1. Know your audience.

It’s easy to focus on funding, but to run a successful crowdfunding campaign, you must focus on the crowd. You must honestly evaluate your reach and your network. Optimism works against you, here. Work with what you KNOW you have.

2. Clearly understand the realities of success.

When you start a crowdfunding campaign, you are making a promise, and you want to be sure you can keep it. Not only does knowing what’s ahead give you credibility with your team (your crowdfunding backers), it also gives you a clear head when evaluating opportunities and challenges. Know your timeline and your costs and give yourself plenty of padding because unexpected things WILL happen.

3. Build a strong team.

The reality of crowdfunding campaigns is that even (or especially) when they are wildly successful, they are a LOT of work. If you’re setting out to run a campaign, running it alone is dangerous. That said: you need to ensure that everyone on your team is as passionate about and capable of serving your cause as you are.

On Thursday, January 5, 2017 at 2:00 Eastern, B will join me here for a live discussion about their three tips and more insights about crowdfunding. B is passionate about causes and our discussion will focus on using these insights for good. Tune in here then to watch the interview live. Post questions in the comments below or tweet questions before the interview to @devindthorpe.

B Cavello, courtesy of B is for Business

B Cavello, courtesy of B is for Business

More about B is for Business:

Twitter: @b_cavello

B offers guidance, counsel, and even hard truths for those seeking to create a crowdfunding campaign.

B’s bio:

B Cavello is a crowdfunding veteran whose work as Product Development and Community Director at Exploding Kittens helped catapult the game startup to its record-breaking 219,382 backer success. As the voice and primary liaison for the nearly $9 million campaign, B cultivated and empowered the huge community inspired by the game. Following the Kickstarter, they also oversaw product design and testing of the physical card game, expansions, the iOS and Android apps, and even plush and wearable merchandise.

B has since departed from the Exploding Kittens team and now works as an Engagement Leader with IBM Watson. B also works independently as a crowdfunding consultant. They have advised on a variety of crowdfunding campaigns including Zach and Zebby Wahls’ “Woman Card[s],” the Artiphon, and the Lelo Hex condom.

B has their own projects as well, primarily focused on social good: from crisis housing materials to computer education and security and even an interactive circuitry book for kids.

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Devin is a journalist, author and corporate social responsibility speaker who calls himself a champion of social good. With a goal to help solve some of the world’s biggest problems by 2045, he focuses on telling the stories of those who are leading the way! Learn more at DevinThorpe.com!

 

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