If you have a new product idea that you’d like to develop then it’s quite likely that you’ve heard of the crowd funding website called KickStarter.com
In the past 12-18 months they have really taken the entrepreneurial world by storm, helping users raise millions of dollars for projects and product ideas, ranging from short films to unique product ideas.
Our business works with dozens upon dozens of Kick Starter funded projects and/or individuals looking to launch a project on that site after getting designs and developing prototypes.
I personally love these crowd-funding sites, and I happen to think that they are the next best thing to have happened to entrepreneurs since the internet.
Not only do they play into the ‘flat-earth’ theme that I write about a lot (as in, the playing field is now officially flat; small businesses can have the same access to customers, suppliers and funding as the big boys), but they also represent the final missing piece of the puzzle for entrepreneurs with a great idea and limited access to funding.
That said, the best thing about sites like Kickstarter.com is not the potential funds you can raise. FAR more important is your ability to pre-sell and test your idea before investing in manufacturing and marketing it. Of secondary importance is the exposure you can bring to your idea and brand. If you’re product turns out to be a winner then you can be sure that thousands of people will hear about it. I have my suspicions (confirmed ) that some big buyers and distributors lurk around those sites, keeping an eye out for the next biggest thing. Finally, of lessor (but still awesome!) importance are the funds that you can raise.
If you are still working at a job that is stale and drains the life out of you, for a boss that you dislike, then it’s time you take that great idea down off the shelf and get ready to change your life!
Here are 5 steps you should take to launch a great crowd-funding project without spending too much (before you know your idea will sell!)
1. This one’s obvious. Start with a winning idea! There’s no exact formula that will tell you if you’re idea is Winning! (in the words of Mr. Sheen) or if it’ll be still born but checklist tool for knowing if your product idea will succeed is a good place to start.
2. Create a one-page marketing sheet. List exactly what your buyers will GET from purchasing your product. This is not a list of the FEATURE’S but rather the RESULTS/BENEFITS they will get
3. Get nice designs and 3D models made
4. Create a WORKING prototype of your product that shows how it works (and that it does work)
5. Make a killer demo/marketing video and post your project!
Those are the major steps you should take to launch a product on Kickstarter.com or one of the other crowd-funding sites out there. So what are you still waiting for?