3 Wise Things To Do If A Crowdfunding Project Has Failed

Posted on 2 August, 2015 by Team Wishberry

EC18 It happens. Even to the best of us. For some reason or another, your crowdfunding campaign fails, either delaying your project indefinitely or crushing your dreams forever. But this needn’t be the consequence of your crowdfunding failure. Instead of forgetting about this episode forever, you can totally turn this into a life-changing event and actually gun for crowdfunding success the second time around. Here’s what you should do after your crowdfunding campaign has failed.

Relax. Calm down. Don’t feel depressed.

Yes, a lot of time and effort has gone to waste. Yes, your project has now been delayed even further. You may even find your faith in humanity slightly shaken. But honestly, it’s not the end of the world. Allow yourself a small brooding period, then pick up the pieces, make yourself a fresh cup of coffee and proceed to the next step.

Regroup and retrospect

Go back to the drawing board and put everything under the microscope. What strategies worked, who responded well to the campaign, why someone backed or showed interest in your project, and so on. Similarly, also analyze what exactly went wrong, why the traction didn’t pick up. Dig deep into this. Ask people for their feedback. Get in touch with experts, take notes and basically just get complete clarity on the good and bad sides of your project!

Chart out your way forward

You have gained enough clarity to put things in better perspective- enough to help you understand whether you need to go for crowdfunding 2.0 or there’s another alternative. Remember, don’t not reconsider crowdfunding just out of the fear of failure. Be extremely realistic; consider the goals you want to achieve beyond simply getting the money. So much can be learnt from the mere effort of running a crowdfunding campaign, only if you let it!  

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