Crowdfunding for Aspiring Authors

“How can I afford it?”

It’s a question we hear from many aspiring authors who want to have a book ghostwritten or who have written a book that needs editing. Answering it opens a conversation to multiple possibilities.

First things first: the question that generally precedes this one—“How much does it cost?”—can only be answered based on length of book, complexity, amount and quality of existing material available to the ghostwriter/editor, desired production specs, and numerous other factors. To discuss your specific project and its projected costs, please get in touch with us. Once you have an estimate in hand for your book project, if you do not have the funds readily available, an excellent way to raise funds is to start a crowdfunding campaign.

What is crowdfunding? Simply put, crowdfunding is a way to raise funds by allowing individuals to donate at various levels. Using crowdfunding, your friends, family, and any other interested parties can help you realize your goal of writing and publishing a book.

There are numerous crowdfunding apps available. Among the most well-known are:

• GoFundMe. Used not just for creative projects but also for personal needs, GoFundMe is a recognizable source that many in your circle might already be familiar with. Its name recognition alone can help donors feel comfortable giving toward your book project. You specify your desired goal, and while the project might not be funded 100% before the campaign ends, any percentage raised will help offset your costs.
• Kickstarter. Often used by startups creating a new product or service, Kickstarter is also popular among writers, performing artists, and other creatives to fund a particular project. When you put your project on Kickstarter, you are required to specify a funding target. Donors promise to back you by whatever amount they want to contribute, but if you don’t reach your funding target, all donations are returned to the donors. This “all or nothing” approach can entice donors to increase their contributions.
• Indiegogo. This app allows either of the above options: you can set a goal and keep whatever funds are raised toward the goal, or you can set a target but only receive the funds if the target is met. In either case, before any funds are transferred to you, a minimum (as of this writing, $500) must be raised.

Keep in mind that, like all reputable crowdfunding apps, all of the above apps charge a usage fee—generally a percentage of the donations received.

Several key elements can help make your crowdfunding campaign a success:

• A well-described project. It’s important that potential donors understand exactly what you plan to do, as well as why it’s important. Make sure your description is sincere and thorough, but doesn’t go on longer than necessary. Photos, videos, and other visual elements can make the ask more appealing to donors.
• Rewards. You can reward donors by offering a free copy of the finished book—or, alternatively, a “sneak peek” at the initial few chapters. You could also entice donors to participate by offering rewards such as an invitation to your book’s launch party, a homemade gift, and/or book swag.
• Different donation levels. Small amounts add up. Don’t expect everyone to contribute significant funds. While some might, it’s vital that donors know that any amount they can contribute is greatly appreciated and will help you toward your goal.
• Sharing. No one can donate to your crowdfunding campaign if they don’t know about it. Make sure to share your campaign widely via social media, email to family and friends, word-of-mouth, and any other method you have available to get the message out. Additionally, encourage those who donate to share the campaign with their networks. (Most crowdfunding apps automatically offer donors the option to share the campaign via social media.)

Turning your dream of becoming a published author into reality is closer than you think. If you’d like to discuss your book project, determine ballpark costs, and brainstorm ways to fund the project, please get in touch. We’d love to talk with you about how we—and your network—can help your creative vision become a book that’s ready to share with the world!