Social Lending

Kickstarter Woes in a New Social Lending World

Are you looking at social lending as it relates to the real world? Then you definitely need to look at Kickstarter in a whole new way. The reality here is that we can’t just each and every social lending site as a group. Sometimes we have to look at them individually.

Unfortunately, you get a big idea of what’s going on with social lending when it comes to sites like Kickstarter. This site hasn’t been around as long as other sites, so the credibility issue is already a factor. There’s a lot of projects there, but does the cream rise to the top?

Absolutely! You will find a lot of projects on Kickstarter that will catch your attention. If you’re thinking about investing in worthy projects, Kickstarter rocks for this. However, if you’re not thinking about getting into the lending side, the projects may not catch your attention.

There are some strong lessons to be learned from looking at this site. Some people feel that there are too many rules with Kickstarter, while others feel that it helps keep the quality of the site up.

There’s always going to be a bit of debate about this, but in our opinion there’s no reason to skip over a site just because it has some growing pains. You would do well to have your profile on multiple social lending sites anyway. People want to get to know you, and they will check to see what other sites that you’re on. If you’re only on one site and you’re not well known, then there are going to be problems.

What needs to be done from here is to return to your original purpose. Thinking about your project in relation to Kickstarter projects might be a good thing, but you do need to be aware of what’s really going on. Don’t give up on your goals just because you see a lot of other proposals out there.

Your proposal has to be unique and important — and besides, you’re still going to need to use advertising techniques to promote your proposal.

Hang in there — our next article will be all about getting your proposal seen by as many people as possible!