Run a business solely from successful crowdfunding projects

Run a business solely from successful crowdfunding projects

Many businesses have accredited Kickstarter for their success, some even post it on the boxes of their products, and you can be one of these types of businesses if you know what you're doing and when you should be doing it.  Getting a video put together with a voice-over isn't difficult to do, and it's not even that expensive, but you shouldn't go this route if you want to be taken seriously on a crowdfunding platform.  Instead, you should invest in a decent camera along with some filters and possibly a steady cam rig if you can afford it, then start writing up your scripts and possibly bring on some people who want to be an actor or who are aspiring models. 

Once you get everything together, you will then need to know exactly what you're doing, and that's why you're reading this I assume   There are plenty of businesses out there that put up Kickstarter campaigns just to see if their next idea will get funding, which is a great way to know if your idea is going to work well with the people of this world, it's also a good way to do market research for a few bucks lol.  If you think you have a great product, but no one is investing in you or it, then you likely have a bad pitch or a garbage product.  Now, if you do everything I mention below and you're still not getting investors, your product probably needs some rethinking

Videos are king on crowdfunding platforms
I touched on this slightly above when I said to get your own camera rig and bring on some models or actors to memorize a script and be the face of your business idea.  If you go through Kickstarter and look at all the successful campaigns, no matter how many backers they had, they will usually have a great video talking about their product and what their goals are as well as what they plan to do in the future for the product they are trying to acquire funding for.

Know what to pitch and when
If you don't know the basic setup of how to pitch, you will never get funded on a crowdfunding platform, so luckily you're reading this

1. First 10 to 15 seconds - Introduce yourself and anyone that is going to be a face of the video.
2. Next 20 to 25 seconds - Speak about what problems your product solves, what need it fills, and why others aren't as good as you.
3. Next 30 seconds - Cover exactly why your product solves a problem, fills a need, or why you're the best.  Pick the best one that will pull in more people.
4. Next 20 seconds - Explain the tech superiority or the quality of the product. 
5. Next 15 seconds - This is where you can introduce any of the team members you have working on the project or product, be short and sweet.
6. Next 20 seconds - Explain why exactly you need the funding, what you'll do with said funding, and what the backers or investors will get in return for giving you money.
7. Final 10 seconds - Here comes your final pitch!  Reiterate the benefits of funding.

Your content has to be high quality
If you're just posting some low-quality whiteboard video, don't expect anyone to throw money at you!  You MUST have a high quality video with real people in it if you want to be taken seriously.  You can do this outside in a nice area or even in an office setting to show people you are serious about what you're doing.

Your script, video, content, etc. have to be on point and top notch if you want to be successful when it comes to a crowdfunding campaign.  If you're just winging this, you aren't taking this business seriously and everyone will see this in you and avoid your listing like it was a virus.

Know what will attract investors/backers
If you don't know what this means, you need to look through all the campaigns that have already been successful and see what people are more willing to invest in.  Usually, a tech product that is cutting edge, or just cheaper than the competition, will get a lot of people gravitating towards it.  On the other hand, cute products for animals or children seem to do pretty well, so you could go that route as well.

One of the best campaigns, that I've actually invested in, was a product called Exploding Kittens.  It's a simple card game that I play with my daughter and its actually really fun   They use cute kittens as well as funny drawings on the cards to entice people to read everything, which boosts their interest in investing, then they paired it up with a very well done video to entice even more people to invest.  They got much more than they were looking for at the end of their campaign, and their listing just shows you what exactly to do

Aim low and hope to cash in
Sure, searching for $3,000,000 in funding would be a nice thing if you could get it, but you only get the money if you have a successful campaign.  If you shoot low, let's say around $10,000 and you get $400,000, then you walk away with much more than expected and you will have a smile from ear to ear  

List what you actually need to get the product off the ground, and not what you're hoping to get because you need a bunch of sales, and people will generally invest in you.  Just be sure your incentives are strategically written up in order to entice people to invest more to get more


In conclusion
If you can do all of the above, you can have a few successful campaigns each year and rake in a few thousand to a few million if you're lucky   You will obviously have to produce the products and send them to the backers who invested, but that's just how a business works.  The more backers you get, the more branding and advertising you might obtain in the long run for free   The more successful your campaign is, the more likely bigger investors will see it and contact you personally to throw even more money at you for a piece of the company


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Thanks!

Tommy Carey