79 – Crowdfunding Advice: Is Crowdfunding Right For You?
There is lots of crowdfunding advice out there – and a good deal of it comes from reputable, trustworthy sources. But as with any approach to business you also have the upstarts who haven’t had enough experience yet to really know what they are talking about. That’s why you need to be careful. Khierstyn Ross has I helped many people – entrepreneurs, startup founders, and small business owners – launch awesome products online through crowdfunding engines like Kickstarter and Indiegogo, to the tune of $1.5 million. On this episode, Khierstyn answers the most commonly asked question she receives, “Is crowdfunding for me?”
What is the best crowdfunding advice? Know who you are marketing to.
Launching a product via Kickstarter or Indiegogo isn’t just about putting something out there – it’s about approaching people where they are at, and most of the people who visit crowdfunding platforms are interested in new, innovative, and surprising products. Your spatula with one little tweak that makes it different from a normal Wal-Mart spatula may not do so well if you don’t know how to appeal to the people who are on the platform. Khierstyn has some great advice about knowing the crowdfunding audience, on this episode.
What kind of products work best on crowdfunding sites?
If you have an amazing product that you’re super passionate about, crowdfunding may be the right approach for you to use to launch it. But there’s a lot more than that initial assessment to knowing if your product is worth the risk of a crowdfunding campaign. Khierstyn Ross has seen many, many crowdfunding campaigns, both successful and not so successful. She’s and her team have managed many of the successful ones and have discovered the things that make or break the launch. On this episode, Khierstyn chats about the things that go into a good crowdfunding product, how you should think about the crowdfunding audience, and how to know if crowdfunding is right for you.
Crowdfunding is about more than the launch. It’s the beginning of a successful business.
If you aren’t thinking of crowdfunding as the beginning of a long haul to business success, you’re thinking about it all wrong. While crowdfunding campaigns that are successful CAN see lots of cash come in over a short period of time, you’ve got to know how to manage the project well to ensure that you can actually get your product to market after the campaign is finished and continue to do well. Don’t be fooled – crowdfunding is just as risky as any other form of startup. To be successful you’ve got to look at it through the eyes of an ongoing business, not just an initial launch.
Get Khierstyn’s physical products crowdfunding checklist.
If you want the best crowdfunding advice, you need to listen to someone who has been there and come out successful. Khierstyn Ross and her team are crowdfunding experts who manage campaigns on Kickstarter and Indiegogo from start to finish with great success. Khierstyn has put together a checklist of things you need to do in order to ensure that your physical products are optimized for crowdfunding success. You can find out how to get your free copy on this episode, so be sure you take the time to listen.
Outline of This Episode
- [0:16] How you can better market and fulfill your products more effectively.
- [2:15] The question Khierstyn is asked more often than any other.
- [4:00] KEY: How do people visiting crowdfunding websites think?
- [6:22] How crowdfunding is an event-based approach.
- [7:50] How to crowdfund a “me too” product that isn’t truly innovative.
- [10:19] The kind of products that do NOT work well on crowdfunding.
- [10:55] Using crowdfunding as a long-term game.
- [15:32] How to avoid the errors most startup companies make.
- [18:35] Get the physical products checklist.
Resources & People Mentioned
- BackerKit – use the code “uncut” to get 50% off their set up fee
- BOOK: Will It Fly?
Submit Your Project on Gadget Flow – Their product discovery platform reaches 25 million people per month! They’ve helped more than 6,000 crowdfunding campaigns but also companies like Sony and Amazon boost their sales and exposure through their community. Get started now > http://gdfl.us/kHd11
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