Kickstarter is expanding its strategy and making big changes after helping entrepreneurs raise more than $8 billion in its 15 years in business.

The crowdfunding site, which allows entrepreneurs to fund projects large and small in exchange for early access to rewards, announced Last week it introduced Late Pledges, a feature that allows creators to receive funding – even after a campaign has officially ended.

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“The creators for so long it's left so much money on the table,” says Kickstarter CEO Everette Taylor The entrepreneur. “They might go viral at the end of the campaign, or backers discover a cool project and want to support, but the funding period has passed.”

Delayed pledges mean creators can receive additional revenue and maximize their reach.

The introduction of Late Pledges is perhaps the biggest change to Kickstarter since its inception.

“You're going to see a lot more people grow 30, 40, 50% of their goal or even double their growth,” Taylor said.

^{Kickstarter CEO Everette Taylor. (Photo by Arturo Holmes/Getty Images)}

Kickstarter also introduced an in-house performance marketing team to help creators expand their reach and a new mobile app experience. PLATFORM GET a 5% cut of successfully funded projects; the percentage has not changed since 2009. Creators must pay an additional 3-5% to process payments.

“One of the first things I wanted to do was just listen to our creators and let them guide us,” Taylor said. “So all the things you're seeing now are because of the feedback and voices of our creators.”

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Here, Taylor explains the decision-making behind the changes, how he approaches the flagship Kickstarter, and his advice for future CEOs.

Entrepreneur: Why make these changes after 15 years? Was it all based on feedback?

Taylor: The introduction of Late Pledges is perhaps the biggest change to Kickstarter since its inception. We're trying to focus on the things that will be most impactful right away. We really think that what we're putting out now is (at the top of) people's charts. Pledge management and fulfillment tools for creators are no. 1.

These are all things that exist with third-party platforms or things that our creators have been asking for for a long time. So that was important to us because we knew it would be more impactful for creators and backers in their experience.

How have you approached the leadership of Kickstarter since stepping into the role of CEO in 2022?

The biggest thing is that nothing is off the table. How can we innovate? How can we push ourselves? It's a little uncomfortable to step out of your comfort zone, but honestly, I've been guided by the creators and our community. I can't tell you enough how grateful I am for how passionate they are and how willing they are to give feedback and express themselves.

I get constant feedback from creators and am driven by this sense of wanting to make as much impact as possible.

With so many crowdfunding competitors, how do you keep entrepreneurs coming back to Kickstarter?

I think the thing no. 1 is to give them the tools and resources they need to be successful. One of the most important things to keep anyone, any customer, is to have a listening ear and listen to what they're saying and make sure you're invested in their success. I love hearing from creators who say, every project I come back to, I raise more money. That's nice, isn't it? And, to help them understand that Kickstarter isn't a place where they just started once and that's it.

We now have creators of all sizes who are continuing to release products. We just had L'Oreal successfully launch a new product on Kickstarter.

The other side is continuing to invest and develop in this audience and community. We have an exceptional outreach team dedicated to every space within the enterprise. If you are trying to be an author, we have someone to publish. If you are trying film, we have someone for film. We also have a program called Forward funds that invests directly in emerging entrepreneurs and people on the platform who are starting projects where we can help them with some of their funding as well.

What advice would you give to emerging leaders or entrepreneurs?

Embrace the hard stuff. Being a leader is not an easy job. There will never be a time and day where 100% of people like you or support you or believe in your vision. You have to keep going and doing what's best for your company, community and customers.

It's also important to be able to balance all the things life throws at you while also balancing the demands and responsibilities of the business. If you don't take care of yourself and aren't at your best, it will affect your company. There will be great days, but there will also be hard days. So keep things in perspective and stay focused on the things that matter.

^{This interview has been edited and condensed for clarity.}