One of the biggest challenges I hear all the time relates to finding funding to develop a product for market. Fortunately for everyone the world is quickly changing, and new options are more viable than ever. One of the biggest, most accessible and exciting is the tremendous growth of crowdfunding as a viable option for launching new products and projects.
Crowdfunding worldwide is on target to double this year to over $6 billion dollars. With a 40% success rate for design projects launched on the most popular sites I would agree with Forbes magazine in calling this the Goldrush Era for crowdfunding.
I’ve been very curious about this process for some time, and so I decided to learn more about it first hand. This on Tuesday the 26th I’m launching a Kickstarter campaign to bring one of my new products to market. I’m really excited about the product, but I’m also excited to document and share what I learn with others along the way.
Through the end of the year I’ll be posting and sharing my journey to Kickstart and launch a new product, and open the veil on what you can expect to go through if and when you do this for your next project.
While a 40% success rate is fantastic, that still means 60% don’t get the funding they need. Like everything else with the inventing process, education and learning from others is critical before you spend your time and money pursuing your idea.
I’ll be reaching out again on Tuesday the 26th to show your the product when we go live. I hope you’ll join me on this trip and see if this is the path that makes sense for your idea.
Wish me luck, and leave a comment to let me know what you most want to know about launching and running a crowdfunding project!