Kickstarter Analysis Assignment Example | Topics and Well Written Essays - 500 words

Kickstarter Analysis - Assignment Example The only requirement and the prerequisite for your business idea to be picked is for it to be something out of the world and unique. If you can make your project sound appealing, there’s a bright chance an investor would pick your project up and back it with finance (Kickstarter website, 2013). Kickstarter launched in 2009 and since then have been able to have funding done for over 35,000 projects. The one figure that would be the biggest encouraging factor for aspiring entrepreneurs is that over $500million have been promised to projects through this platform. All one needs to do is create an independent profile of your business idea on Kickstarter. This is like the face of your project and hence it needs to be absolutely top notch in order to for to appeal to a potential investor. The more creativity it oozes, the higher will be its chances of being picked up by a financer. Once the page is complete, creators make the page available to the community and hope it attracts funds (Levy, 2010). Kickstarter makes money every time a funding deal is brokered for a project on the website. They charge a 5% fee of the total fund that is won by a project. That is not only very reasonable but also justified considering they make the business idea available to a vast number. They heavily rely on their website, the community they have developed and word of mouth for marketing and communication of their services. They have achieved high success since their inception so the website has been thriving on the positive word of mouth and referrals they receive. Not only do aspiring entrepreneurs trust them, the investor community also believes they will find good ideas on the website (Villano, 2010). The webpage has heavy traffic and has more than 3million registered users. The funding rate of projects is also impressive with as many as 44% of the projects successfully landing interested investors. This shows the traffic not only