Set up realistic and achievable goals for your project

in #fundition5 years ago
Some people have small projects and some have big ones. A person could say that smaller projects have a higher rate of success but there are huge projects that have also reached their goal and completion. Why are smaller projects easier to finish and what kind of large projects are successful? There are many factors that play a role in that story but when it comes to money, it always steals the show.

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CCO image, Unsplash, author: Max Ostrozhinskiy, adapted

We have mentioned this before but we felt it was necessary to not only remind you of this important subject but to help you understand why exactly is it so important. Today, we will talk about goals for your project, realist and unrealistic ones, achievable and unachievable. Yes, everything is achievable and in this Universe, it is not about if something is possible. It is always about how probable it is. Do you want to increase your probability of success? Read on.

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Before starting your campaign and setting your project, you need to carefully do all the work necessary and accurately calculate how much money you need and for what. Do not skip this part and make sure you go over it a couple of times before you are absolutely sure that everything is correct. The math part is not that hard once you do some research and pick up a phone to find out about the prices. Do the research. Explore and search for the best prices of the specific things you need. Compare the amount that you need with the amount of what similar projects are asking for and if yours is much bigger, you need to justify it.

How much and for what?

Do not be a rebel. Not providing info about what the money is for will get you nowhere. People need to know what you will do with the funds you collect so go into as many details as possible. Those uninterested will skip over it but be sure that serious Backers will read that part carefully. If you need to buy 3 hammers, write that down and provide info on what is the cost of one hammer and what will it cost you to buy all three. Be precise and use tables, lists, and charts. Present your budget in a professional way. Writing a line that goes something like this: I need $500 for organizing this event. is quite immature and disrespectful to your potential Backers.

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It does not matter if you are asking for $100 or $1000, avoid creating a single goal with that amount. Yes, smaller amounts are always easier to gather but there have been projects which successfully raised large sums of money. One of the things that helped them was having more smaller goals instead of one huge one.

Divide and balance it out

Every goal can be divided into smaller ones with funds that are more or less equally balanced. If you are creating a website, make different parts of it into different goals. For a play or a movie, directing, editing, players paychecks, driving expenses etc. can all be different goals. If you are raising funds for a charity, different materials, resources, and equipment/food are your different goals. For you innovators and developers out there, different parts of your progress are different goals. No matter what your project is about, promotional and marketing activities can always be a separate goal. By reaching and completing one goal at a time you are receiving a positivity boost and setting an example that things are moving. People who see that your project has already reached 5 out of ten of its goals will get the idea that you are making progress and are successful.

Plan your budget and when creating it, compare it to similar ones. Be realistic and justify the amount you need. Give us the information on what the money will be spent on and try to create more smaller goals instead of one large one. Realistic and achievable goals are the way to go. Fundition is here for you if you ever need any help. Good luck!

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Excellent article. There are too many good ideas going astray because of an attitude that doing business on the blockchain is different than in the old world, especially when it comes to accountability and business plans and that the 'old' rules don't apply.

I hope this post gets the eyes it deserves :-)

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