Early entrepreneurship development using Kickstarter
For Parents of Tricyclers
Intro:
In our Tricycler and Kiddie Rider’s play method, we introduced the STEM educational toy “Cody Block” (NOTE: LINK HERE), which began as a Kickstarter project. Again, for parents not familiar with Kickstarter, feel free to take a look at their Wikipedia page. Long story short, Kickstarter is an American public-benefit corporation that maintains a global crowdfunding platform focused on creativity. The company's stated mission is to "help bring creative projects to life." For kids who are inventors, or makers, this is an excellent place for them to develop a prototype and understand how fundraising (or crowdfunding) works -- a huge skill needed for entrepreneurship.
They have various project categories; Arts, Comics, Crafts, Dance, Design, Fashion, Film & Video, Food, Games, Journalism, Music, Photography, Publishing, Technology, Theater.
Instruction:
From product ideas to story ideas for books, brainstorm with your child about what it might cost to bring their idea to the real world, in other words, what might their budget look like? What kind of business plan or roadmap might work for their idea? What might be the best way to follow up with funders? Guide them through a simple thought process.
If you decide to start a Kickstarter for your child’s idea, be aware that their first campaign will need to be under your supervision, as the eligibility of the Kickstarter community is listed as:
At least 18 years old
Having a bank account in the U.S.
Have a government-issued ID
Having a debit and/or credit card
Screenshot of Kickstarter sign up - eligibility verification process
For example, if your child wants to sell their storybook idea:
Make a business plan together including a budget, project scope, and a roadmap.
In the Kickstarter campaign: Title the project as “Johnson family’s Children book, “(book title)” by our writer, “(Child’s name)”. And write a description written by your child. Remember to include incentives for funders. For example, funders of a certain amount will get a discounted rate or all funders will receive a signed copy!
Our 2 cents:
Look for similar projects to your child’s on Kickstarter. Doing so will help your child set realistic expectations and provide a real and helpful template.
Screenshot of Kickstarter page - search
You can begin by looking at the different types of projects already running campaigns on Kickstarter. This may help your child begin to think about new ideas or maybe implement an existing one. Remind your child that this is a long-term project and if they begin they will need to follow through with commitments, updates, and eventual implementation of their idea. Ask them to imagine how they might feel to accomplish each step up to the delivery of the final product.
