All or nothing vs Take what you raise
All or nothing and keep it all.
What's the difference?
An all or nothing project has a target and a deadline.
When you raise enough to meet or exceed your target then at the end of the funding period you receive all the pledges.
If you don't meet your target by the deadline then all pledges to the project are cancelled and you don't get any money.
A keep it all (also known as flexible or take what you raise) project also has a target and a deadline, but the target is just a guide.
At the end of the funding period, you will receive all pledges, even if you didn't meet your target.
How do I choose?
It depends what you are raising funds for.
All or nothing crowdfunding is great for projects where you have fixed costs, like manufacturing, materials, rent, subscriptions, etc.
Because there is a possibility that you won't reach your target, there is more at stake with an all or nothing project. For that reason you need to be more proactive in marketing and promoting your project.
The easy way to start crowdfunding:
- Set a funding target
- Set a deadline if you need one
- Extend your timeline or reduce your target if you need to
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