Introducing the Crowdfund Your Book self-paced online course

Are you working on a new book but wondering how to pay for a professional editor, a cover designer, and maybe even printing? Have you considered starting a crowdfunding campaign to help fund your book project? Crowdfunding is a great way to raise seed money for your initial book expenses–but creating a successful crowdfunding campaign requires a great deal of planning and preparation.

This self-paced course will walk you through everything you need to know about how to plan and execute a crowdfunding campaign. The course covers the following main topics:

  • What crowdfunding is and how to use it for publishing projects
  • An overview of the different crowdfunding models and platforms (like Kickstarter and Indiegogo)
  • How to effectively plan your crowdfunding campaign
  • How to come up with perks and rewards to attract support
  • How to create a project budget
  • How to create a simple yet effective video that summarizes your book project
  • And finally, how to launch and manage your crowdfunding campaign

This course includes over an hour of video lectures broken up into small, easy to watch segments. You will also get a 30 page workbook full of useful information and in-depth exercises to help you prepare virtually all of the information you’ll need to launch your own crowdfunding campaign.

I launched a successful crowdfunding campaign for a very niche book and raised over $5,000 that covered all of my production costs. I was successful because I followed the guidelines I’ll share with you in this course. Are you ready to find support and fans for your book? If you are, sign up today and get started learning how to crowdfund!

Are you working on a new book but wondering how to pay for a professional editor, a cover designer, and maybe even printing? Have you considered starting a crowdfunding campaign to help fund your book project? Crowdfunding is a great way to raise seed money for your initial book expenses--but creating a successful crowdfunding campaign requires a great deal of planning and preparation. This self-paced course will walk you through everything you need to know about how to plan and execute a crowdfunding campaign.

Pros and Cons of different crowdfunding methods

Author training | Pros and cons of different crowdfunding methods, including fixed funding (Kickstarter) and flexible funding (Indiegogo).If you’re thinking about crowdfunding a book, you probably know about the different crowdfunding options available online. Two of the most popular are Kickstarter and Indiegogo and they have different methods for raising cash for projects.

Kickstarter uses a “fixed funding” method. That means that you must raise the entire amount set as your project goal in order to get any of the funding. For example, if your project goal is $5,000 but you only raise $4,750 you don’t get any of the money. What about $4,900? Nope. You must hit your goal, otherwise the credit cards of your backers will not be charged and you get $0.

Indiegogo provides an option for “flexible funding.” That means no matter what you goal is, you’ll get all the money you raise. If your goal is $5,000 and you raise $100, you’ll get $100 (well, minus project fees). If you raise $4,900, you’ll get $4,900 (minus fees).

This concept confuses some authors. I mean, why in the world wouldn’t you just want to get all of the money you raise? What’s the point of setting up a project if you might not get anything?

Well, there are some really good reasons why you might want to choose a fixed funding platform (either Kickstarter, the Indiegogo fixed funding option, or some other platform). For one thing, what is your project budget? Are you producing only an ebook and if you don’t raise your entire project amount you can still deliver a book and perks to your backers? Well then, flexible funding might be for you.

But what if you want to product a hardback  book and your overall project budget really is around $5,000. What happens if you set up your project as flexible funding, but then only raise $1,000–well below the funding you need to print your book for your backers. Will you be able to afford to produce the book you promised your backers? If the answer to that question is no you should strongly consider fixed funding.

Another reason why some crowdfunding experts recommend fixed funding is because of the sense of urgency the “all or nothing” approach conveys. People know that if they don’t back your project, your book may not get printed. That’s additional incentive for some people to go ahead and pony up and back your project.

Selecting either fixed or flexible funding is one of the most important decisions you’ll make while setting up your crowdfunding campaign. Make sure you choose wisely!

 

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How to get ready for crowdfunding a book

Author training | Are you thinking about trying to crowdfund a book, but you don't know how to get started? This post shares some easy ways you can get the word out about your book project to lay a strong base for a successful crowdfunding project. Many authors want to know how to crowdfund a book. You might look up some projects on Kickstarter and think one of two things. You might think that the process looks overwhelming and it would be too difficult to crowdfund your book. Or you might think it looks really easy and all you need to do is create a Kickstarter page and backers will magically flock to your project. Neither assumption is accurate.

The first thing you need to know about crowdfunding is that planning and advance publicity is absolutely essential. If you are even thinking about crowdfunding your book, start talking about your project now on social media. Start describing your book, sharing the plot or theme, and sharing research gems if you’re writing a nonfiction book. These posts should not be “buy my upcoming book!” Rather, you should just share your excitement and enthusiasm about your upcoming project. The point of talking about your project early and often is that when you launch your crowdfunding campaign, people will already know what you’re doing and you will have a good base of support out there.

When I was working on my first nonfiction book, I knew I wanted to try crowdfunding to help cover my expenses, which would be substantial since I was producing a pretty long print book. About four months before I launched a campaign, I started telling people I was working on a book and what it was about (it’s a VERY niche book about the discovery and exploration of a cave in north Alabama). At the same time, I also started sending Facebook friend requests to everyone interested in the niche of cave exploration. I looked for friends of friends and sent friend requests to people who participate in caving groups. My friend list swelled to about 600. I did the same thing on Twitter, following everyone related to caves and caving. I made sure people who like my niche found out about my book.

I got a lot of questions about the book. People wanted to know how long it would be, when it would be available, how much it would cost, and as I nailed down the answers to those questions, I shared. I posted photos I uncovered during my research along with a short caption or story that described the photo. I posted updates on my writing progress. When I finished chapter 17, I would share that news and describe what the chapter was about. When I hired an editor, I described what that process was like. I posted blurbs in online groups related to my niche. I needed help occasionally with research, and would post questions like “Hey, I’m working on a new book about Fern Cave and I’m looking for anyone who’s taken photos in the cave. If you have photos I’m looking for, I might include them in my book!”

By the time I launched my crowdfunding campaign, every single person I knew in real life and on the internet knew about my book, and the people who are interested in my niche topic were interested in buying my book.

The day I launched my crowdfunding campaign, I raised $1,000. That is only because I blabbed about it so much for so long, and went out of my way to share my excitement and generate excitement in others.

If you are thinking about crowdfunding, look at your writing and editing schedule and think about when you might want to launch a campaign. When you have a date selected, like June 15, 2017, back up four months from that date. On February 15, start talking about you book. I recommend talking up your project for at LEAST two months before you launch, then your crowdfunding campaign itself will last anywhere from 30 to 60 days. Just nail down your schedule, see if crowdfunding will work with your timeline, then start your marketing!

The next post in this crowdfunding series will talk about how to get ready to actually launch your crowdfunding campaign.

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Should you investigate how to crowdfund your book?

Are you working on a book and wondering how to pay for an editor, cover arr, and maybe even printing costs? Have you thought about crowdfunding? Setting up a crowdfunding campaign on a site like Kickstarter or Indiegogo is a realistic way to raise the cash you need to get your project off the ground. But first, you need to do some planning...Two years ago, before I started my own publishing company, I crowdfunded a very niche nonfiction book about a cave in north Alabama. Many people who don’t enjoy exploring caves asked how I could actually write an entire book about a cave, much less 300 pages! Well, the cave has a fascinating history and the story of how a bunch of guys from Huntsville, Alabama discovered and explored the 15-mile-long cave is similar to stories about people who figure out how to climb and explore remote mountains. When I decided to write a book about the cave, I knew I wanted it to be a really nice printed book, and I also knew I wanted to self-publish. The problem was money.

When I started getting quotes for all the help I would need to create a quality book–a professional editor, a cover designer, and a printer–the costs added up to around $4,500. That was way out of my price range for covering the costs myself. However, a few months earlier, I’d discovered a new fantasy author at a science fiction convention and bought a copy of her book. I’m always interested in publishing companies, especially small ones, and I really liked the name of this one: Silence in the Library Publishing. I checked out their webpage and discovered they were running a Kickstarter campaign for an upcoming book. The campaign had blown past its initial goal and was well over $10,000.

I was actually pretty shocked. I had no idea people would contribute to book projects on Kickstarter. An idea started to form. I could set up a Kickstarter campaign for my book project. Could I really raise the money I needed?

I actually wasn’t very familiar with Kickstarter when I first started poking around on their webpage to investigate book projects. I noticed than some campaigns were wildly successful while others maybe only raised $100. Others raised a modest amount of money and reached the project’s goal. I started to wonder what made a crowdfunding campaign successful. Marketing and advertising were obviously critical. Just posting a book campaign on Kickstarter would not be enough to gain backers.

I did more research and discovered crowdfunding was becoming a pretty big thing, and there are lots of different models out there for raising funding. Kickstarter requires projects to meet the project goal or you don’t get any money. If your goal is $5,000 but you only raise $4,750, you’re out of luck. However, other sites let you keep everything you raise. If your goal is $5,000 and you raise $100, you get $100 (well, minus fees you owe the crowdfunding web page). That sounded like a good bet for me and I decided to set up a project on Indiegogo. I was fairly certain I could raise at least enough to cover printing. If I didn’t raise the full amount–well, maybe I could dip into savings to hire an editor.

I decided to crowdfund my book with a goal of $5,000. This is what I did:

  • I spent some time researching and planning out the whole process. I outlined my timeline and what I needed to do along the way to get the word out about the book and the campaign.
  • Four months before I launched my campaign, I started talking about my book on Facebook and Twitter. I talked about it A LOT.  I posted about my progress on the book. I posted photos I’d uncovered during my research, along with a little story about the photo and a mention of my upcoming book (this was really popular and many people shared the photos, thus helping get to the word out to a much wider audience). I posted random short stories I’d uncovered during my research that would interest people.
  • I set up my campaign page early, came up with perks I thought people would like, and created a simple video (even though I had zero video experience) using Microsoft Movie Maker and still images I used in the book.
  • Two weeks before launching the campaign, I told everyone about it. I told everyone how much editing, design, and printing would cost that that there probably wouldn’t be a book at all if I couldn’t raise the money to cover costs. I shared the different perks people could get. I talked about when the book would be ready. I talked about the campaign A LOT for two weeks until I pressed the button to make the project go live.
  • The day I launched, I had a whole series of blog posts, social media posts, and web pages ready to go to promote the campaign. I told everyone about it and asked for their support. On my first day, I raised $1,000 (in all fairness, one of my best friends pledged $500 on that first day, so really I raised $500–still not too shabby!).
  • Over the two months the campaign was active, I posted updates, more photos from the book, the cover design I was going to use, and more stories from the book. I kept the book front and center for people on my social media feeds.

I reached my goal. I will admit I slacked off a bit raising money after I reached my $5,000 goal because I knew I had enough to cover production costs and I wasn’t sure what else I could do with additional funding.

What I learned from this project is that crowdfunding can be very successful, but is reliant on some key factors:

  • You must have an author platform, or social network of people who are potentially interested in your book
  • You must thoroughly plan a crowdfunding campaign
  • You must do a LOT of marketing way before you launch, as well as market during your campaign

Should you investigate crowdfunding your book? I think it’s definitely worth it. It can help you pay for essential services like editing, cover design, and marketing. If you’re really ambitious, it can cover printing costs and creating an audio book. But whatever you do, don’t just decide one day to launch a Kickstarter page, post it, and expect fans to find you. That won’t happen.

Stay tuned over the next couple of weeks for more posts about the different aspects of planning and executing a crowdfunding campaign, for both fiction and nonfiction books.