Monetizing Your Big Ideas

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You have a million-dollar idea for a project or product—here are three ways to get the resources to bring it to life.

Would-be inventors: submit your idea to Quirky for a $10 fee and the community will help develop it. Each week the staff votes on ideas, and the winning product gets launched via Quirky’s unique, communal process.

Cash in: Inventors get 30% of every sale on Quirky.com and 10% of every retail sale.
Got an idea for a creative project? Post it on Kickstarter, along with a funding goal and a deadline (up to 60 days). Spread the word to get backers—anyone with a credit card can pledge money to your project (but you keep ownership of it).

Cash in: If you reach your goal, you get the cash (Kickstarter’s cut is 5% plus 3–5% for processing). If you don’t reach your goal, you get no money—but you’re not charged, either.
IndieGoGo is like Kickstarter, but your project can be creative or business-oriented. Set a funding goal and a deadline (up to 120 days).

Cash in: You keep the pledged cash regardless of whether you meet your funding goal. If you do meet it, IndieGoGo’s cut is 4% plus 3% for processing. If you don’t, the commission is 9% plus processing.

Get crafty. What’s your take on these new ways to bring ideas to life?

Tagged in: Earning