Crowdfunding can be an excellent way to raise money to publish a book, whether on your own or with a resource-limited team. For instance, the small press Alliteration Ink and I partnered in an eff ort to crowdfund my fourth novel. Th at campaign earned me a professional-level advance and paid for the book’s production costs, all from just 174 eager backers. Because my advance is paid by someone other than my publisher, I’ll receive royalties within days of when the book goes on sale. Compare that to the thousands of readers who must purchase a mass-market novel before an author earns anything beyond his traditionally structured advance.
My campaign was a modest success built on the strength of my existing readership. Other campaigns have been fi nancial triumphs, earning their authors mad cash and a legion of new readers. But there are horror stories: spurned campaigns that sank like cold lumps of leaden shame in the crowdfunding sea. Or worse, campaigns that seemed wildly lucrative but ultimately drove their creators to bankruptcy and the brink
of sanity.
Naturally, many writers and indie publishers are worried about the risks of crowdfunding … and unsure of which platform to use. For instance, there’s GoFundMe, which is a good resource if you need money due to a sudden fi nancial misfortune. If you can regularly produce new content for supporters, Patreon can generate steady monthly income. Indiegogo is a solid platform best known for funding indie movies.
Source: Writer's Digest November & December_2017
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