Updated: Jan 28, 2021
Picking a funding target can be difficult if you don't know where to start.
The first thing you will need to do is to create a budget breakdown where you should try to be conservative wherever possible. This should give you the amount that you need to make your film... in an ideal world.
The next step is to test whether that target is realistic for you to crowdfund. The best way to do that is to get together with your core team and calculate if you would able to gather 20-30% of the target through a soft launch. A soft launch is when you ask close family, friends and supporters to commit to backing your campaign before you actually press launch. If between yourself and your team you can't think of enough supporters who will commit to supporting your campaign then your target is most likely too high. If that is the case, consider cutting down your budget or raising your funds in stages.
The final step is to decide whether the target you set actually excites you. Crowdfunding can be quite a long, stressful and intensive process so unless you're extremely excited about it there is a good chance that you'll give up or fail. If you set yourself a target of 2k, ask yourself - does that actually excite you? If it doesn't there might be easier ways of raising that money. Don't set your goal too low or it will demotivate you, your team and your backers.