How much funding do you need to realize your project, and how much can you realistically collect through crowdfunding? Should you finance the entire project through crowdfunding, or only a portion of the project? If you already have sponsors or promoters, for example, you might only need to partially finance your project through crowdfunding contributions. Make it clear in your project description exactly how the money will be used.
Tip: The financing of a crowdfunding project begins with your current network. Take into account the size of the network that you will be able to reach with your project. The bigger your reputation and existing network already are, the more likely it is that you’ll be able to reach a higher funding goal.
Projects can be overfinanced through crowdfunding—for example, if there is a high demand for the rewards or starters motivate their supporters with a new goal. If your project is overfinanced, make it clear to your supporters exactly how the additional funding will be used to make the project even better.
Non-profit organizations are also permitted to collect donations. If your project is supported with a donation, be sure to provide your supporters with a donation receipt after your project is successfully funded.