Money Glass

The Trouble with Kickstarter

We’ve talked before about how Kickstarter can be a great way to raise money for a project. But there are also some potential dangers, for campaign fund-raisers and backers alike, that you should be aware of before you get involved with any projects.

Kickstarter problems for fundraisers

The first is that Kickstarter is an all-or-nothing platform. This means that if you don’t reach your fundraising goal, you don’t get any of the money that has been pledged. This can be a problem if your project isn’t well thought out, or if you haven’t done your marketing homework.

The second danger is that you may end up with more money than you need. This might sound like a good problem to have, but it can actually be quite difficult to manage. If you raise too much money, you may have to refund pledges, which can be a hassle.

The third danger is that you may not be able to deliver on your promises. This can damage your reputation and make it difficult to raise money in the future.

So, while Kickstarter can be a great way to raise funds, there are some potential pitfalls that you should be aware of. Be sure to do your research and plan your campaign carefully to avoid these dangers.

Kickstarter problems for buyers – Scams

While the biggest problem for fundraisers is the risk that a campaign either does not get funded or swells to such proportions that it might prove unmanageable (for example, if your project was to create handmade items), for buyers the risks are equally substantial.

When you find a campaign you do so while accepting the risk that the campaign might fail to deliver. You are not buying a product, you are backing an idea. That said, the vast majority of projects are successful and delivered, but this doesn’t always happen.

When a project fails, there is nothing you can do about it, and it’s unlikely you’ll be able to make a credit card claim for the lost funds – you take your risks.

This has led to an explosion of high ticket scam products on the platform. The campaigns are run in a slick manner, with the end product already visible – beautifully designed items that anyone would be pleased to have. The campaigners are friendly, responsive, and eager to answer questions… until the campaign is completed and Kickster hands them their money.

At that point, they begin stalling for time. The longer they can hold off the masses with problems outside of their control, the less likely any chargeback attempts will be successful.

Ergoplax – A lovely ergonomically pleasing desk… that never came.

Sadly, I speak from personal experience, having recently backed the Ergoplax sit-and-stand desk. I write professionally and wanted to ease the pressure on my back from always being sat at my desk. The Ergoplax desk was everything I wanted and was not available anywhere else. And I wasn’t alone, with the campaign easily hitting its target. Over 2000 of us forked out between £300 and £500, depending on upgrade options. I was at the top end of that range, and I was eager to receive my desk.

Of course, when you’ve invested in something like that, you want to silence the nay-sayers. People were appearing, quoting warning signs. Some backers (ex backers, after they quickly canceled their pledges) warned us that the alleged Chinese suppliers knew nothing about the campaign. There were red flags aplenty, yet still, I laughed it off, I was obviously going to get my desk.

Well, here I am months later. The scammers went silent after the deadline passed for most companies to perform a chargeback. My credit card company refused my request to reclaim the money, citing Kickstarter’s response, that all pledges are at our own risk.

Sadly, Ergoplax is far from the first scam on Kickstarter, and unless things change, it won’t be the last.

It is clear that Kickstarter takes no responsibility whatsoever for the projects it facilitates. It is a platform, and that’s all. They know scammers use the platform, but if one manages to slip through and fleece the funders, they do not intervene. If you choose to back a project, do so in the knowledge that there is a possibility you will never see your money again.

Case Study: Charli D – Tiktok Celebrity

Dancer and Instagram celebrity Charli D’Amelio is 16 years old and a TikTok personality. TikTok’s most popular personality has more than 67 million followers. Dixie, her sister, is also a TikTok star.

In 2019, Charlie D’Amelio began posting dance videos to popular songs on TikTok, almost overnight becoming famous. Her choreographed dances to popular songs often go viral, as she puts her certified trainer dancing skills to good use.

Career

Charli D’Amelio, an American dancer, was born in Norwalk, Connecticut, on May 1, 2004, to Marc and Heidi D’Amelio. With more than 67 million followers on TikTok, the star rapidly rose to fame after joining the app in 2019. Her Instagram following exceeds 21 million, her YouTube subscribers exceed 5 million, and her Twitter followers exceed 2 million.

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OnlyFans pivots over its ban on sexually explicit content

OnlyFans announced on August 19th that it would no longer allow sexually explicit content on its platform. Given the fame and reputation has as a place where adult content creators can share material that other platforms would shy away from, it’s little surprise that this announcement was met with heavy criticism from those who had contributed to the success of the site. Angry creators and advocates of sex workers reacted with ridicule.

 The OnlyFans website is famous for providing a safe way for sex workers to get paid and a place for celebrities to connect with fans with little censorship.

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Start Dropshipping Today: Everything You Should Know

Want to get out of your 9-to-5 loop and step into the world of e-commerce? If “yes!” then you’ve come to the right article.

With the recent advancements in the internet, the e-commerce landscape has changed. Dropshipping is the new talk of the town! Its popularity is touching new feats of glory. This article will discuss the fundamentals of dropshipping. So, let’s begin!

What is Dropshipping?

Dropshipping is a fulfillment method in which the store doesn’t keep any inventory. Rather, when it receives the order, it purchases the product from the supplier, which itself delivers it to the customer.

So, as a dropshipping business owner, you’re not required to have a warehouse or any stocked items. You won’t have to manage the product nor fulfill or deliver it! The supplier will do it for you.

This eCommerce model offers less-hassle and less-worries. And it can be started with low capital investment, which makes it perfect for beginners. You’ll be selling someone else’s products by keeping your profit margin. Sounds interesting, right?

How Does Dropshipping work?

The dropshipping model works in a three steps-flow.

  1. The customer places the order in your store. Let’s say Evan orders ten mugs from your store and pays $100 for the price.
  2. You forward that order to your supplier, pay them the wholesale price of $60 and keep your $40 profit.
  3. The supplier then delivers the order to the customer.

So, a dropshipping model can function properly only when both you and the supplier work parallel.

Advantages & Disadvantages of Dropshipping:

Just like any other eCommerce business, dropshipping also has its pros & cons. So, let’s discuss both of them.

  • Pros:
  • Less Capital Required:

You don’t get this leverage in other businesses. As dropshipping doesn’t require you to maintain a warehouse with inventory stocks, the launch budget won’t be in thousands of dollars. With very little capital, you can kickstart your business.

  • Easy to Start:

Compared to other eCommerce models, dropshipping is relatively easy to start. As you don’t need to:

  • Handle the order fulfillment
    • Track inventory and stocks
    • Put your hours in shipping orders and handling returns
    • Manage inbound & outbound orders
  • No Location Restrictions:

Unlike other online businesses, dropshipping doesn’t need to be an office-based business. Neither it requires any warehouse. So, it offers total location independence. All you need is a laptop and an internet connection.

  • Easy to Scale:

As you grow with time and start getting more orders and sales, things won’t get tiresome for you. As the supplier manages the shipping and inventory, you’re left with more customer support tasks. So, dropshipping is easier to scale up as compared with Amazon or eBay stores.

  • Cons:
  • Low-Profit Margins:

As a beginner, you should never expect high-profit revenue because the competitive niches are very much saturated. So, while working on some niches, the profit margin will be less.

Although this can be countered by working on less-competition niches, they don’t offer sales stability which means sales may go down at some point. That’s the reason dropshipping businesses are backed by high-quality marketing.

  • Complicated Order Process:

As the supplier itself fulfills the order directly, they’ve their own shipping and billing methods. And this can cause trouble for both you and your customer in case of shipping multiple products & similar cases.

  • Lack of Inventory Control:

As a dropship business owner, you don’t have your own inventory. Although it may sound like an advantage (and it is!) the supplier sells to multiple retailers from the same inventory. So, the available stock can fluctuate a lot.

Conclusion:

Ecommerce is an ever-evolving field. It involves a high level of capital investment and time consumption. Fortunately, Dropshipping isn’t the same. It requires less startup cost, and the model is easy to understand and implement. Happy Dropshipping!

Case Study: YouTube Star Caspar Lee

Caspar Lee is a South African-born YouTuber, vlogger, actor, and social media personality. His YouTube channel has more than 7.1 million subscribers. Casper Lee will be familiar to anyone with significant YouTube experience. Millions of people follow him. Caspar has been active for more than half a decade, uploading videos since 2011. He is regarded as one of the earliest stars of YouTube. Additionally, he wrote the scripts for the videos and followed this up with several acting gigs. He is very popular on other social media sites such as Twitter (4.45 million followers), and Instagram (4 million followers).

Comedy is one of his major trademarks through his videos, which are both hilarious and original and he often collaborated with other YouTube stars. His huge social media following has led to him being invited to talk shows and other TV programs, including an appearance on Showtime’s Web Therapy with ‘FRIENDS’ star Lisa Kudrow.

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Buying and Selling Instagram accounts

Buying and selling Instagram accounts: The benefits and dangers.

One option for many people who want to start their own business or promote it is buying an Instagram account with a considerable number of followers.

In this article, we will review the benefits and dangers of buying and selling an Instagram account. 

The Advantages of Buying an Instagram Account

Buying good Instagram accounts has numerous advantages which encourage many start-up businesses to buy them.

 Here are some advantages:

1. Having a noticeable number of followers right from the start

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How Do Influencers Make Money on TikTok

How Do Influencers Make Money on TikTok

TikTok is one of the fastest-growing social media platforms in the world today. It is reported that in 2018, Instagram, Snapchat, and YouTube were downloaded more often than Evernote. Now is the time to find out what it is if you still don’t know.

Influencers can gain exposure to over 500 million users on the TikTok platform, which has more than 1 billion downloads and usage figures from iTunes and Google Play.

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How do Influencers make money on Instagram?

You’ve probably heard of Instagram stars making money from their daily photos. Perhaps you have considered jumping on board the Instagram train yourself?

Social media influencers on platforms such as Instagram have figured out how to reach and influence an image-hungry audience. While many traditional businesses have struggled to leverage the power of such platforms, these individuals are reaping the rewards of mastering algorithms to explore multiple revenue streams derived from their online activity, whether they want to build an empire or run a side-hustle for extra cash and free stuff.

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How to Maximise your Ko-Fi Income

Ko-fi has a reputation of being an up-and-coming location for earning extra income as a creative or freelancer. This happens either through donations, memberships, or direct sales and commissions. Although it is a very simple concept, starting out on Ko-fi can be difficult, as you need to establish a presence, either on your Ko-Fi page or on your other platforms that you are directing towards your Ko-Fi profile.  In this article, we will be showcasing and going through methods of increasing your income on Ko-fi using straightforward techniques. In addition to that, we will briefly review a few case studies on users who are successfully using Ko-Fi.

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