In this episode, host Nalin talks about if your project is right for crowdfunding and how to decide if your project is right for crowdfunding. She shares her tips to determine if your project is right for crowdfunding!
- [01:14] Crowdfunding is one model to get your product to market, but it’s not really suited for everything out there.
- [2:30] You must first decide which crowdfunding you’re looking to launch on. Is it rewards based? Is it a personal expense type of crowdfunding? Etc.
- [3:46] Another thing you need to consider determining if your product is right for crowdfunding, is what the main demographic is for your audience.
- [7:50] People who come to crowdfunding are early adopters. They are looking for things that are new and novel. They want things that help solve their problems and pain points.
- [9:50] Usually when someone orders online they expect to receive their product soon, with crowdfunding people are bringing their disposable income to buy things before they even exist.
- [12:01] You must also consider that people are usually expecting to get a tangible reward from your crowdfunding project.
- [13:35] The last thing you must consider is if your goal is realistic in the constraints that you are working on.
- [14:50] Just remember, crowdfunding is really tailored towards the individual customer not businesses.
Thanks for listening! Now go out there and figure out what the best way is to launch a project and if it’s right for crowdfunding! Tune in next week when I drop some more information!
You can listen to The Crush Crowdfunding Podcast at crushcrowdfunding.com