Project Creator Handbook
Whether it is a restaurant,a cafe, a backpacker hotel, a ecological leisure farm, a concert, a movie, a book, as long as you think it represents a more interesting life style, a more interesting way of life, can be your project. Each project should have a clear goal, and eventually you will complete it, and the supporters will receive rewards.
Project creator identity :
A step by step guide on creating a project in www.fundraising.my crowdfunding platform.
Get big picture by understanding flow as following:
Create A Project (Step-by-Step)
1. Click to Start :
Create an user account or login, if you haven't logged on.
Select 'Start' from the top of the main page
2. Enter basic information :
Enter the basic information for your project-- project title, project's category, country and state. Click on “Start” after all information had been filled up.
3. "Basic" page :
Once you've entered this information, you will be taken to www.fundraising.my's 'Basic Page".
Project image - Make your project attractive through an eye-catching profile photo. This very important as your first impression of your project and attact users to click open.
Short blurb - A short description of your project which give the brief idea about your project.
Project duration - Setting the appropriate timeframe is about giving yourself enough time to build up your campaign. There are very few campaigns that can be successfully completed in 30 days. The average campaign lasts 30 - 60 days. Startups tend to be eager to collect funds, which leads to short fundraise terms, but its important to give yourself enough time to build momentum around your campaign, a process which inherently takes a few months.
Funding goal - Choosing the right funding goal is a balance of two factors - setting a number that is high enough to achieve your stated goals but low enough that you are confident that you can reach your target. Most campaigns that fall short of their goal fail because they ask for too much. Fundraising (all category except charity) is an "all or nothing" funding platform, which means you need to meet or surpass your stated goal or you cannot collect any of your funds. Instead of trying to raise one round of capital to cover every conceivable cost, it's better to focus on just enough capital to reach your next major milestone. Most interesting part is you may breakdown into few fund raising project which raise stage by stage.
Currency - Now ONLY Ringgit Malaysia is available.
Update & Continue - Your new project will be saved in Draft mode. When your project is in Draft mode it is not viewable to the public. You can keep your project in Draft mode as long as you like!
4. "Rewards" page :
The most important part of a project is REWARDS setting. Interesting and creative reward inspiration will lead your project to successful.
A remarkable reward is one of the best way to encourage your crowdfunding project getting pledged. It's always good to offer copies of what you're making, prototype of your product, studio visit, and things like T-shirts. But extra-imaginative rewards can help make your project all the more memorable.
When structuring your rewards keep in mind your campaign’s bottom line. Don’t put yourself in a position where you’re left with only funds to cover the costs of the rewards themselves or worse you’re coming out of pocket. We can’t stress enough the importance of setting yourself up with a budget and timeline that you can stick to. In this you’ll want to address all monetary and time costs you anticipate to incur from production to shipping and definitely give yourself a buffer for unforeseen costs.
Have these relationships with suppliers and/or fulfillment services lined up in advance and work pricing of those services into your budget. Plan your “Estimated Deliver Date” of your rewards in advanced where you’ll be able to fulfill demand and the expectations you set for delivery, without losing on quality. With costs mapped out for each reward tier you’ll be able to have a clear idea of the expected margins to make on each tier. You can then confirm or adjust your campaign funding goals accordingly.
More guidance on how to set attractive rewards at : (we will release the link soon)
Make sure the photo is attractive and relevant to your project. This photo will be appear on the www.fundraising.my landing page. It should attract people’s attention when they saw it and willing to know more about your project.
Project title and short description are equally important. Your project title and short description play an important role as a summary of your project and made people interested to contribute in your project.
Prepare a short video (1-3 minutes) that able to impress your potential contributors about your product and service.
Make a short video that expresses your goal and intentions for charity projects.
The first ten seconds of your video are the most important. It will causes losing at least 20 percent of the audience within the first ten seconds of video playback.
Private the video yourself to make it more personal.
Give backers a sneak peek of your project.
Select a background music for your video.
Make sure the video is clear and concise.
Invite your audience to join you on your journey; you are not just asking for money.
End with a clear call to action.
Tell an interesting story, and keep it short
You want to share your story on your project page. What do you want to accomplish with the help of your fans? Use your video and text to quickly and accurately describe who you are, what you want to do, and why you do it. You should tell people why your ideas make you so excited to achieve, tell your strength and experiences to the potential backers to believe you have the ability to complete it. Explain exactly the reason of raising money.
Show the design of your idea or new shop so that backers able to visualize and image your business. Include pictures of your rewards in the project description end. Backers would like to know more about their reward.
You and Your team
Introduce yourself and your project team members. Tell the story behind the project. How your team is formed. Include your team portfolio, any important events or people that shaped your project.
Potential backers need such details
The time you plan to complete the project and the time it takes to deliver the reward. Be more frank the better. Your budget, even if it is only rough. The budget is proof of your plan in advance;
The most important thing is fun. This will make your project compelling.
You may find some examples of reward based crowdfunding platform at our blog.fundraising.my
Tell your backers any potential risks which may affect your project execution and rewards delivery clearly.
Update & Continue - Your new project will be saved in Draft mode.
Some documents are compulsory to upload to make sure your project is approved by admin of www.fundraising.my. Its to minimize the risks of fake project by admin effort to screen through those necessary documents.
To understand more at : https://fundraising.my/pages/verification-document-requirement
There is no limit to the time your project can stay in 'draft' mode.
Be sure you do one final check to ensure that all the applicable fields are filled out as you desire, as some important fields cannot be changed once you launch the project.
Before you submit, make sure that you are comfortable with your deadline and funding goal. Please note, all project approved online by admin is not allowed to edit or amend without approval from admin.
If everything is completed to your preferences, click "Submit for approval".
Admin reserve the right to decide your project launching online date.
Update your project from time to time to interact with your backers.
Throughout the project cycle, from the start to the reward delivery in the hands of each backers, you can communicate with the backers through project update. This is actually one of the best part of backers participating in your project, backers can direct interact with you as well.
Three common project updates:
i) Create momentum
Show your fans the latest developments and the latest milestones that will motivate them to help you spread the story. Put your project in front of a backers like a story. Various details, such as "pictures of the founder team meet up last night" or "we found a suitable photographer for our film," will allow your backers to share your excitement.
When your project starts, you will receive comments and messages from the project's comments area. Remember to check and respond to these questions frequently. If some questions are often asked, you can consider adding to your project Q & A.
When your project is successful funded, you should update your project progress so that your fans understand all of your efforts. This is an indispensable part of the start. Even if the progress of the project is not as expected, you should also update, so that supporters know you are working.
iii) Celebrate success
Even after all rewards done delivered, your story is not over. Share reviews, media reports, pictures, everything about your project. This can be your restaurant's open day, or your product is placed on someone's bookshelf.
Get more tips on how to run the campaign for your crowdfunding at : https://fundraising.my/pages/important-tips-for-project-campaign
Invite friends to support your project :
Go to setting and click on “find friends”. Invite your friends in facebook to support your project.