A few days ago, we discussed estimating your Circle of Influence and determining an official Kickstarter goal while looking at Maxwell Hughes.  His project had some real similarities to today’s subject, Eclectic Approach:  a $20,000 goal, a good video, and some serious musical credibility.

But Maxwell’s project was unsuccessful raising just over $5,000 while Eclectic Approach funded successfully at $21,417.

So what does Eclectic Approach have going for them?

View Eclectic Approach’s Kickstarter

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A PROVEN TRACK RECORD & CONVICTION

Did you watch the video?  If not, do it.

By the time you are done watching it, you know A) Eclectic Approach has been working for 9 years, B) they appear to have momentum with the whole ourstage.com and Jimmy Kimmel thing, and C) EA’s time is now, it’s their shot.

Seriously, when I got done watching this, I was just all “oh, they’ve really got this going and they’re gonna make it.”

The funny thing is that about 10 years ago, I was in a kick-ass pop rock band in a very similar position:  touring the American west, spending $40,000 of our own money on an album, getting on rotation at a radio station in Phoenix and playing some killer festivals there, hiring a booking agency, hitting SXSW.

Not to mention we hired a manager with platinum albums on his wall.

A Brief Aside

[commence random story about visiting said manager’s house] My band went to his house in a gated community (where I embarrassed myself by asking what his mortgage was ~ he paid for his home in cash, duh) and drank him out of beer.

Every last beer.  Gone from the fridge.

He was speechless.

Even the one with a chili pepper in it…  I drank that one.

Then I accidentally smashed the bottle on the floor when I fell down while imitating Gary Anderson’s first missed field goal attempt of the year in the Minnesota Vikings’ loss to the Atlanta Falcons in the 1999 NFC championship game.

I digress.

Back To Eclectic Approach

These guys DO have some stuff going on.

But as you and I and musicians around the country know, it isn’t a forgone conclusion.

They may keep it going or they may not.  You just don’t know.

But when I get done watching their video, I feel like they are ROLLING HOT and that their purpose is one I can get behind.

Did you get that?

A Proven Track Record + Obvious Potential + Conviction= PURPOSE WORTH BACKING!

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A GOAL BASED ON REALITY

The second and very important thing is that their goal is based on reality.

First, they have a $50,000 recording under their belt and they know how hard it is to work out the economics of that.  They also have some ideas of how to do something just as pro on a different scale.

Second, when you have been around for 9 years working and touring the whole time, you are gonna have some fans and connections, not to mention an email list, and you are going to have a good idea of what you can pull.

Most likely this is a couple hundred backers give or take from the personal friends and families of the 5 band members as well as a couple of hundred backers give or take from their email list/social media circles.

So, in EA’s case, if they can get to 300 backers at $60/backer, then they are within a few thousand dollars of their goal and if you get to that point, chances are extremely high that you will take it over the top.

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ALL THIS WITHOUT A BACKER TAKING THE PRIVATE, HOUSE CONCERT

I notice that they put a private house concert at $3,000.

That’s gonna price most people out.

I have no doubt that EA pulls in $3000 for some gigs, but I would argue that performance is one of your biggest assets and that they would have been well served to price the private, house concert at $1000-1500.

It only takes a few takers to get your total up pretty fast.

They did, however, have some badass mid-level packages that gathered a lot of support, particularly the $100 liner notes with 42 backers, the $250 VIP package with 6 backers and the $500 Acoustic song with 6 backers.  Nice work there.

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THE TAKEAWAY

Set your official Kickstarter goal based on a realistic estimate of your Circle of Influence.  Execute the project in a professional, high quality manner…  and then go record your awesome EP with some of your $20,000!