My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

Crowdfunding

Consider These Key Factors When Setting Your Crowdfunding Goal (Video)

Former Staff Writer
4 min read

When it comes to starting your crowdfunding campaign, says expert consultant Sally Outlaw Cost of Peerbackers, it’s critical to do some math.

In terms of the rewards given out in exchange for funding, entrepreneurs need not only factor in the cost of such gifts but also the logistics in delivering them -- where they’re going to be housed, for instance, or how they’re going to be packaged and shipped.

And when calculating your goal, Outlaw says, look to the scope of your social network. “Usually 2 or 3 percent of the people in your network will convert, so you have to make sure you have a large network before you set your goal.”

For more tips from Outlaw, check out this short video.

Related: 2 of the Biggest Myths Surrounding Crowdfunding (Video)

More from Entrepreneur

Learn to be a better leader and develop successful marketing and branding strategies with Dr. Patti Fletcher's help.
Book Your Session

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply Now

Are you paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

Latest on Entrepreneur