Finance Your eBook with Crowdfunding

A popular way of covering expenses while writing your eBook is to finance your eBook with crowdfunding. If you've ever wanted to leave your job and work full-time on your writing, you may now have a better chance of doing so thanks to crowdfunding. Eric Migicovsky, author of The Crowdfunding Bible, says:

There’s no denying that crowdfunding represents a fundamental change in the way that technologies, products and entrepreneurs are evaluated. Until recently, a relatively small number of very wealthy individuals held the purse strings of the creative world. Venture capitalists and angels were the gatekeepers to Silicon Valley, and they were quite selective. Innovation and creativity yearned for realization, and countless opportunities and ideas were lost forever – but out of the need for innovation came innovation itself. Just as the PC brought computers to the masses, so too does crowdfunding put funding for innovation in the hands of, well… the crowd.

Crowdfunding for Indie Authors To finance your eBook with crowdfunding, you need to take several steps:

1. Calculate your costs and have a target amount you need.
2. Start building your network – friends, family, colleagues, and fellow authors who can help you spread the word about your campaign.
3. Keep it extremely simple for people to help.
   1. Create tweets, emails, and messages that people can copy and paste to share your campaign.
   2. Don't solicit large donations from anyone.
   3. Offer something in return (copies of your eBook, a mention in the thank you page of your eBook for larger donations, other small tokens of appreciation).
4. Choose the right platform for your crowdfunding effort.
5. Keep in touch with the people who support you – and keep it personal.
6. Set up a website and social media accounts where people can connect with you.

Crowdfunding Platforms for Authors There are several crowdfunding platforms to choose from, with new ones starting every week. Kickstarter is the most established crowdfunding platform, but not specifically designed for authors. Other popular platforms to finance your eBook with crowdfunding include:

• Indiegogo - This platform was originally created to support indie filmmakers; it doesn't have a specific category for authors, but has several categories within which an eBook might fit.
• Pubslush - This platform was specifically created to connect authors and readers, offering crowdfunding and pre-order options.
• RocketHub - This platform is designed for any type of creative platform and allows you to keep whatever money you raise (minus fees), even if you don't fully meet your goal.
• Unbound - This platform was also specifically designed for indie authors and makes it easy to provide incentives to readers who support your project.

Crowdfunding, like crowdsourcing, is a game changer, making it possible for anyone with a good idea to get funding, even if they cannot get the attention of the big publishing houses. Have you tried crowdfunding for your eBook? What advice would you share?