Kickstarter and the 25% rule: A tale of angst
Kickstarter, the fundraising site I’m using to bankroll “Chicago Rocked,” published a really insightful blog on community-funded efforts just over a week ago:
The principles in the post apply to most businesses, especially radio stations in markets defined by Arbitron’s PPM audience-measuring tools (radio personnel: substitute “True Fans” for “Heavy/Deep listeners” to catch my meaning).
As it pertains to my book project, I found the following quote from the blog post especially encouraging:
To date, if a project manages to get to 25% of its funding goal, it has a 94% success rate
When the blog post was published (7/24/09), I was sitting at 23%–almost at the 25% that could lock me into the 94% success rate path. I made calls. Sent emails. Almost there, I thought. And then…nothing. As I type this on a windy and disappointingly cool Chicago Saturday, I’m only a compact disc’s width ahead of where I was on July 24.
I have no way to predict the future; I don’t know if this book project will go all the way. Perhaps once I hit the magical 25%, I’ll feel a little better. Regardless, there’s a lot of work that needs to be done in order to get to the finish line. I honestly believe that these stories about this city’s music community need to be shared, and that this era needs to be captured in its own printed time capsule.
45 days to go, with 77% left to back. Ask your rich friends to trade their yacht habit in for the chance to help support a unique, community-backed, book project. Or at least ask them to buy a smaller yacht and still support the book.