So now we have a finished working prototype of the product.
Before starting the production we need to sell it first.
You take a very big risk if you start producing it before having any customer.
And in this blog series we don´t have any money to spend by our own.
So let´s get the money for the production.
Before we ask anyone for money we need to make a business calculation. Its the same as when you
prepared for investors or Almi. Now we should have more information so we could estimate the total cost.
When you have the final cost add 30% extra due to unexpected costs.
Let´s find some angel investors. There are many forums to find angel investors. If your idea is good and you made a proper
business calculation you should have a high change off getting an investor.
You can also try to contact your current network if they know people that know people. Its important not to lose faith. Keep in mind you would probably have to ask 200-500
Kickstarter is a platform where you can ask for money from your customers and if you hit a special amount of orders you get the money you need
to start your production.
For reference see all the kickstarter campaign that have already succeeded and that is the guideline for your campaign.
Order a videografter and producer to help you make a real awesome video. Use money you got from Almi, an investor, if you are lucky have a
friend who can help you or a student.
Here are some tips on how to make a good kickstarter.
1. Keep your campaign under 30 days. Statistically campaign with 30 days tends to succeed more than campaign with 60 days. Shorter time gives the customer a sense of urgency.
2.Show your business calculation. Post your business calculation on the cost. This shows the customers you know what your doing and this create trust. Don´t forget to add all the transactions fees and kickstarters 5%.
3. Give a special offer/gift for those who invest first. This helps create urgency and the customers feels that they only have this opportunity.
4. Reach out to people you know before the launch. To get a successful campaign you need to hit 20% of total amount fast. This is statistics from kickstarter, and to do so contact all you fiends and family to support your project. when you hit 20% the first days more people will feel confident and support the project too.
5. Don´t copy past. To get help from your friends and family you MUST write a special message just for them. Don´t be lazy they are doing it for you so the least you can do is write a private massage.
6. Follow up individually. All the people who is investing in your product need to feel special and should know what is going on and the status. So contact all and tell them how its going, create a community.
Kickstarter is a crowdfounding platform but there is also man others, here are the most popular:
Kickstarter, Indiegogo, Crowdrise.
We have already gone through the tips and they apply on the others too.
Sell it to big companies.
A good way is to contact retailers and get them to order your product. When you have enough orders you can take a
loan from the bank and use the orders as evidence that you will pay back in just a couple of months.
Most retailers pay 30 days after they receive your product. Hopefully the will order more when the first order is sold out and you have to “refill”
If the retailers agree to pay you first is the optimal.
I hope this gave you some ideas and value.
The goal is to get you in the right mindset and start seeing solutions and don´t feel paralyzed due to that you have no idea
what you are doing.
Comment with thoughts and questions and I will answer to my best ability!
Next blog will be about how to find good suppliers.