What is Crowdfunding?
Never before has there been an easier way for creators to get funding and validate their market. Crowdfunding provides entrepreneurs, inventors, musicians, photographers, and many others a chance to showcase their projects to the public to get early funding for products they haven’t even made yet! The basic idea is that you get pre-orders for something that you’d like to make without investing the time and energy into making it unless you hit your funding limit.
How does it work?
All projects that are submitted must pass the project guidelines of the respective crowdfunding site. Once the project is approved, it is then showcased for a set period of time. During this time, the public is able to “fund” the project through “donations”. These donations are, for the most part, pre-orders of the product as the donor gets a “reward” for their donation depending on their donor level. These funds can then be used for tooling, a first production run, marketing…all those startup expenses that would typically limit the creator to getting up and running!
Market Validation
Besides being a great way to get money early on, we believe the most valuable aspect of crowdfunding is the ability to validate your market. In the product world, if you can validate with significant, honest evidence that the market is willing to fork out the cash you are asking to buy your product, the world is your oyster. You can get funding, you can get interest from buyers, reviewers, customers, facebook, twitter…. In the past, marketing groups would pay tens of thousands of dollars on focus groups, industry reports, surveys, and many other tools. Now you can get even better, more honest feedback for the small price of a good video and product description that even has the potential to pay for itself!
Where do we come in?
We were made to make products for crowdfunding creators. I started this business eight years ago with the idea that new technologies would become available to allow individuals to create new ideas and sell them competitively on the national and global stage. Crowdfunding is that technology for funding and market validation just as we are that technology for manufacturing. We can get legitimate manufacturing quotes to help you define your donation levels. If you have already launched a crowdfunding campaign and need to start manufacturing your project, we can manage the entire manufacturing process for you: everything from manufacturing and quality control to packaging and shipping will be taken care of through our expert teams in the US and China, resulting in very competitive pricing and, more importantly, the quality your customers are expecting.
To get started, call us or send an email.
Photo credit: Rennett Stowe
Photo credit: Free Digital Photos
