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How to actually make money from crowdfunding

IT’S the latest way to fund your pet idea – whether it’s a new app or a giant game of marmot chess – with everyone from James Franco to Zach Braff getting on board. In the last 12 months, crowdfunding has nearly doubled to a $5.5 billion dollar industry. But with success rates ranging from 44-55 per cent, how can you ensure your idea becomes reality? Solo artist and performer Rose Wintergreen, who also works as a social media coach and ambassador for crowdfunding site Pozible, has told us five golden rules to get your crowdfunding project off the ground. 1. Get real “Do you have the crowd? Figure out your numbers before you go launching anything. Crowdfunding research is still in its early days, but as a general rule, you’ll only get pledges from about 10 per cent of your pre-existing “crowd.” That includes Facebook and Twitter followers and mailing list subscribers and numbers show they’ll pledge $30-$50 on average,” she said. Ms Wintergreen decided to crowdfund her own album after having previously taken on debt to release her music. “I thought about it for a long time before I did it, I was quite scared. It’s a very […]

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