I am reading my emails and I come across one from Reedsy. The title is “How to crowdfund your way to success.”
Personally, I have never heard the term, crowdfunding. I typically delete multiple emails that I find uninteresting but this one I wanted to find out more. I opened the email. Oh my goodness!
Crowdfunding is basically a go fund me. In this case, an author requests investors for writing a successful book. The money can be used for an editor, cover design, formatting, advertising, etc. (according to the email).
The email also mentioned when you ask for money in a go fund me, you get email addresses. This adds to your email list of readers/ fans. I have never donated to a go fund me site. Are the people aware they are attached to the author’s reader’s list?
I will be honest here, I do not think this is a way to go (for me). In no way do I see this as something I feel comfortable doing. Then again, according to the article I linked below, it is a new concept that is taking off.
The article and the email both agree that crowdfunding is a way of pre-selling your book and growing your email list. A primary argument that the article loves to make is, readers love to be involved in the process. I agree with this thinking when it comes to opinions on book covers and test reads. I don’t agree by taking advantage with a go fund me.
I will take the slow and steady route, finding emails from those who read my books I have ALREADY written. I will find my own money, do what I can to pay for my covers, watch videos on the best covers, self-edit before sending it away, and advertise when I can. I may not become a best seller right away with these tactics, but I will feel good that I did it on my own.
A pre-sale launch on a book site is a different story (if you’re wondering how I feel about that). The book is already complete, or close to it. You have the book uploaded to the website and your readers are aware of the date it will be out. The cover and the blurb are on Amazon (or whatever site you choose). You are accountable for the sales, you don’t get that money unless you present a product. It is not a ‘promise’ of a product with the money in hand.
From what I read in this email and the sites that are around, crowdfunding seems to be the new thing so if this is something that you’re interested in, here is an article with sites listed: The Best Crowdfunding Platforms for Authors.
Stay fabulous newbie writers! If anyone has done crowdfunding before, please tell me more, I’m curious to know what I am not understanding and why it is such a common practice.