3 Things I Wish I Knew Before Kickstarting My Board Game
Вставка
- Опубліковано 10 гру 2024
- Heyo! Here's a few things I wish I knew before I kickstarted my board game!
If you want to check out the board game, go give it a look here:
www.kickstarte...
Check out our insta for even more details!
/ lastyearofcarbon
Now some word soup for the algo:
Kickstarter, kickstarter success, success on kickstarter, successful kickstarter, kickstarter board game, kickstarter help, kickstarter advice, kickstarter pitfalls
#kickstarter #kickstartersuccess #kickstarteradvice #kickstarterhelp
Thanks for the TL;DR
Actually makes it easier to understand the video because you already know the pointers
Lol I'm glad it was helpful, just trying to add a bit of structure to the ramble!
Taxes are beautiful!
Thank you for your information. You are the first person to give these tips. Very useful. Would you mind sharing one other thing with me? When you launched how big was your email list/social media following? We are struggling with building that and wondering if Kickstarter itself will be enough.
Glad you found it useful! The email list and Instagram account probably was in the range of 400-500 people total. In the end we got around 200 backers that was about half our collective networks and half internet strangers. From what I have seen unless you have a mind blowing product, Kickstarter will not be enough. You really want to be able to say you were funded in 24-48 hours, so having a following then launching will be essential. You may even want to put your goal lower than your actual need to purchase your product to get the gold stamp of "funded in 24 hours", but it is risky and you may end up needing to pay out of pocket to make up the difference. This is what we ended up doing, but my team agreed from the beginning this was a passion project so we were ok with operating at a loss.
@@Sporp Thanks!
@@boboleary6607 best of luck with the Kickstarter!
Hope the rest of the process goes as smooth as possible!
It should be a lot smoother sailing now! The end is in sight!
Definitely recommend not doing a LLC if you can help it. Get established first. Get some profit rolling in.
Honestly it depends on the nature of the business. LLC main use is to protect the individual if something happens.
Im about to do a Kickstarter next week, the only problem is that my following isn't high and im learning this business stuff as i go.
@@sevens_october it's always a trial by fire when starting out. It's completely fine to try to kickstart, fail, and delete the campaign if it doesn't work out so there's absolutely no risk. We all gotta start somewhere!
Plan to win, use it as a lesson if you don't
Who did you manufacture through? And did you account for shipping in the kickstarter or did you collect shipping fees after?
I’m hoping to release a board game on kickstarter within the next 4 months
I used a manufacturer called Longpack, don't remember I found them but they had the lowest minimum order quantity I could find at 500.
We tried to account for shipping but underestimated, so I'd suggest aim higher than you think or collect it after if you're newer. Also if you're in the US I wouldn't ship internationally unless you want to figure out EU regulations and collect shipping after. It's v expensive
Interesting, I’m going through Longpack games also but I think they upped their minimum quantity to 1500 recently. (At least that’s what they quoted me).
@@sunburntbone nice! They were very communicative and built our game well to our specifications. Now that I have the box I would make some edits if I did another print run, but overall I was pleased with their work.
Lmk if you have any other questions, I'd be happy to make another video
@@Sporp You totally should, looking over a year back from your launch what was the conclusion with your game, audience reception, shipping, funding etc. I'm interested to know what/how you ended up doing.
Damn dude - cheer up lol
sporp, please fix html on your site, coz when i'm pasting details about followers/unfollowers in each graph it doesn't showing result. please fix it
Try using version 2, people tend to have more success with it:
ua-cam.com/video/DieaS6-25zs/v-deo.html
You might want to consult with an accountant. I might be wrong but kickstarter funds should be counted similar to gift card sales. Gift card sales are not revenue - they are debts that you owe the holders. When a customer uses a gift card, then you recognize the revenue. I’m no expert but I believe you should have not realized the kickstarter funds as revenue just as you would not count a bank loan as profit.
Ok now I'm annoyed. I went to a CPA and he never discussed this with me. This is why I post these vids, the hivemind will always know more than me. Thanks for the info!
So I did a little googling. It would be pretty tricky to make this argument but it depends on your offering. I can’t say if your CPA advised you properly or not (I made the comment while I was still watching the video and you hadn’t yet mentioned working with an accountant).
From what I can tell, once you provide anything of value it would be considered revenue. So if you gave something just for backing, it would likely make the whole amount count as revenue. I couldn’t find anything specific about recognizing the revenue only once product shipped if nothing else was given away.
In general, I think your advice about the timing is really good. It is a good strategy to run the campaign when you are ready to procure to lower your stress (ie not holding people’s money longer than you need to) and you’ll be less likely to encounter manufacturing cost increases.
Great video. I enjoined your advice
Ouch! Actually, all your points can be lumped under the category “Cost Accounting” and insufficient research into the details thereof. No surprise, you’re all techs. I’ve been an LLC for years, and fallen into many hidden landmines. Yes, business ownership is a cesspool. You need someone who officially tends to the accounting side of your business - or you will fail, like most startups. Primary failure reason: “Insufficient capitalization”, the biggest piece of which is knowing all your costs. Do you know your break-even point? (Sounds like No.) What’s your balance sheet look like? Let’s touch base when you have time.