{"id":16128,"date":"2016-12-14T11:40:30","date_gmt":"2016-12-14T17:40:30","guid":{"rendered":"https:\/\/www.gigsalad.com\/blog\/?p=16128"},"modified":"2025-04-11T15:33:18","modified_gmt":"2025-04-11T20:33:18","slug":"does-crowdfunding-make-sense-for-my-act","status":"publish","type":"post","link":"https:\/\/www.gigsalad.com\/blog\/does-crowdfunding-make-sense-for-my-act\/","title":{"rendered":"Does Crowdfunding Make Sense for My Act?"},"content":{"rendered":"

Last updated on April 11, 2025<\/p>

Just like any new business, a new performer often struggles with gaining access to borrowed capital. It\u2019s not about you or your talent\u2014lenders just like to see a track record of a few years under your belt and a history of making regular periodic payments. <\/span><\/p>\n

Professional entertainers who have been around for a year or two, who have regular income, and who can demonstrate consistent cash flow may find success borrowing, but it might not be at the bank.\u00a0<\/span>Fortunately, there are other attractive options for new performers that are worth considering, and crowdfunding is an increasingly popular way to secure capital.<\/span><\/p>\n

<\/h2>\n

Crowdfunding: If You Build It, They Will Come?<\/b><\/h2>\n

Unfortunately, nothing works quite as easily as it appears in the movies. The\u00a0<\/span>Field of Dreams<\/span><\/i> reference is a common misconception about how easy it is to raise money by crowdfunding. Nevertheless, crowdfunding could be a good way to get your act off the ground financially, provided you take the right approach.<\/span><\/p>\n

The following five suggestions will help you launch a potentially successful crowdfunding campaign, but there are no guarantees even if you follow these tips. It will all depend upon how successful you are in motivating your fans and potential fans to invest in you and your business. <\/span><\/p>\n

1. Do your homework. <\/b><\/h2>\n

Spend some time on different crowdfunding sites like Kickstarter<\/a> and Indiegogo<\/a> to see if you can find the right place to launch your campaign. Are other performers finding success there? If so, what have they done to hit their crowdfunding goals? Once you\u2019ve found the site you want to use, look at successful campaigns for clues that might help you build your own. Don\u2019t be afraid to look at businesses that have nothing to do with the entertainment industry, too. There are lots of good ideas out there. Remember, there\u2019s more to raising money on a crowdfunding platform than simply creating a profile and hoping for the best. You want to get your audience excited and motivated to become a part of your success.<\/span><\/b><\/p>\n

2. Dial in your offer.<\/h2>\n

If you\u2019re thinking about the donation- or gift-based crowdfunding model, have you determined what you\u2019re going to offer your supporters? Is it an exclusive branded T-shirt or maybe a performance giveaway? Even though crowdfunding isn\u2019t a loan, that doesn\u2019t mean it\u2019s necessarily free money. Even if your<\/span>\u00a0offer isn’t enough to sway\u00a0those who aren’t interested, it will encourage people who are sitting on the fence to support you.\u00a0Whatever you offer, make sure you <\/span>deliver<\/span><\/i> to your supporters <\/span>first<\/span><\/i>. You’ll lose their trust if they feel like you cheated them out of something you promised. And you can\u2019t afford to make detractors out of your fans and potential fans.<\/span><\/p>\n

3. Be prepared to invest in your crowdfunding campaign.<\/h2>\n

You may not have a polished or professional video of your performance, but that doesn\u2019t mean it’s not enough to excite the crowdfunding community. Simple, amateur videos\u00a0are still a great way to introduce your talents to\u00a0the people you’re courting for cash. In addition to raising money, you\u2019re also building a fanbase, so ask yourself what you\u2019d like to see from someone asking <\/span>you<\/span><\/i> for money.<\/span><\/p>\n

4. Remember, nobody likes to be the first person at a cocktail party.<\/h2>\n

In the same way, nobody likes to be the first to invest in a crowdfunding campaign. Most successful crowdfunders get their personal networks involved before the campaign is launched so new visitors see some momentum and get excited about it, too. If you don\u2019t feel comfortable reaching out to your friends and family to support your\u00a0crowdfunding campaign, it might not be the best way to raise money. Personal connections are\u00a0a critical part of crowdfunding success.<\/span><\/p>\n

5. Set realistic goals.<\/h2>\n

Keep in mind, most platforms take a percentage of the income you raise. Kickstarter, for example, takes 5 percent. What\u2019s more, make sure your goals are realistic and attainable. Although you\u2019ll be able to keep anything over and above the goal you achieve, if you don\u2019t reach your goal, you won\u2019t get to keep anything you\u2019ve raised. In other words, it\u2019s typically an all-or-nothing proposition, so make realistic goals.<\/span><\/p>\n

The crowd doesn\u2019t really care about how long you’ve been performing or what your credit profile looks like. They’re more interested in what you can do and being a part of something that has the potential to grow big. This makes crowdfunding a potentially good source of capital for an entertainer just starting out, provided you can build a following\u00a0and inspire them\u00a0to invest in your talent.\u00a0<\/span><\/p>\n

If you\u2019ve had experience crowdfunding, please share your comments below. I\u2019d love to hear what worked for you\u2014and what didn\u2019t.<\/span><\/p>\n

\"TyTy\u00a0Kiisel\u00a0is a contributing author focusing on small business financing at \u202f<\/span><\/i>OnDeck<\/span><\/i><\/a>, a technology company solving small business\u2019s biggest challenge: access to capital. With over 25 years of experience in the trenches of small business, Ty shares personal experiences and valuable tips to help small business owners become more financially responsible.\u00a0OnDeck\u00a0can also be found on\u202f<\/span><\/i>Facebook\u202f<\/a>\u00a0<\/span><\/i>and \u202f<\/span><\/i>Twitter<\/span><\/i><\/a>.<\/span><\/i><\/p>\n

Are you a performer looking to build your career? Join GigSalad today!<\/h3>\n

<\/i>Sign me up!<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Last updated on April 11, 2025Just like any new business, a new performer often struggles with gaining access to borrowed capital. It\u2019s not about you or your talent\u2014lenders just like to see a track record of a few years under your belt and a history of making regular periodic payments. Professional entertainers who have been […]<\/p>\n","protected":false},"author":5305,"featured_media":16154,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[9],"tags":[1569,1527,1570],"class_list":["post-16128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gig-business","tag-crowdfunding","tag-freelance-artists","tag-new-performers"],"acf":[],"yoast_head":"\nDoes Crowdfunding Make Sense for My Act? - The GigSalad Community<\/title>\n<meta name=\"description\" content=\"Just like any new business, a new performer often struggles with gaining access to borrowed capital. 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