Your funding goal should be the minimum amount you need to make what you promised and fulfill all rewards. The first step to setting that goal is figuring out your budget.
When working out your funding goal, consider the following things:
This will give you a sense of the network you can tap into and make a conservative estimate on how much support you’ll get. If you are doing extensive promotion such as advertising on social media or pr, take this into consideration as well.
Make sure not to cut things too close. You don’t want to forget the costs of having your campaign pledges processed, such as our 5% fee and minor credit card processing fees. Your campaign may also have a unique tax situation as well that should be considered.