Many authors are choosing to crowdfund their work, and there are now many platforms to choose from.The most well known are Kickstarter, Indie Go Go, and Pub Launch.
To explore the pros and cons of each platform, I interviewed successful authors from each of them to find out why they chose it and to get tips for you from their success.
Publisher-crowdfunded platforms have also cropped up and below I describe Inkshares and Unbound.
Softening the corporate jargon, but not shying away from the necessary, this business plan offers a way to explore, understand and grow your publishing and writing.
Includes: a free downloadable workbook to guide you through the business planning process.
The information here is adapted from my in-depth PBS Media Shift series on author crowdfunding. note: we also profiled Publishizer in a previous blog post.] Since Kickstarter’s launch in 2009, more than 5.2 million people have pledged more than $900 million, funding nearly 53,000 creative projects like films, games, books, music, art, design and technology. If people like a project, they can pledge money to make it happen. Projects must reach their funding goals to receive any money.
To date, nearly 44% of projects have reached their funding goals. Funders pay via Amazon Payments (only), which then will apply credit card processing fees (between 3% and 5%).Pub Launch acquired Pub Slush this year and will officially relaunch in February 2016.I don’t know how much of Pub Slush’s business model they will keep, but it’s clear that their crowdfunding platform will remain focused on authors, so stay tuned.Maybe you are writing to establish yourself as an expert in your field or to promote other products and services you offer.(Do you envision spinoff DVDs, workshops, a line of gourmet cookware?Don’t know your production budgets from your income projections?In this introduction to the basics of business planning for authors, Kimberly Grabas of Your Writing Platform explains her writer-friendly approach.While it may be difficult to make a living as an author, it’s actually not all that hard to raise enough funds to create, produce, and publish your book.You may self-fund with your day job, or perhaps you’re retired with a small income. Pre-selling is an option and crowdfunding has enabled lots of authors to finish their books and spread their message.Pre-selling is rather easier than crowdfunding, which requires lots of thought, planning, and marketing.If you have a store on your website, you can begin pre-selling whenever you like, and you keep the profits (minus shipping and any store merchant account fees you may incur).