1. Make sure there’s really a need + a customer base for your idea.
You want to be sure you’ll actually have customers, right? Even if it’s a good idea, a small customer base will mean your product won’t be wildly successful.
A limited customer base means limited sales and limited profits.
We already have a blog post about how to run a successful crowdfunding campaign.
You’ve ticked off those boxes and you think you’re ready to get going, but have you thought about what NOT to do?
Let’s look at why Kickstarter projects fail.
One of the TV shows that gets talked about in our office every week is Shark Tank. Everyone wants to talk about who was on the show and how well they did.
But our favorite topic is the Sharks themselves.
We love listening to the advice they give out on the show and in interviews, so we decided to put together a list of our favorite pieces of advice from Shark Tank.
1. Have good packaging.
I don’t just mean the label design, although that’s important too; I mean make sure it fits on the shelves. You have a lot of competition out there, and you have to carve out room for yourself. Check out their packaging and see what it looks like. Is it hanging on a display? Stacked neatly on the shelf? How durable is it? How easy is it to open? Make sure to see how they’re doing it and then do it better.
When your product is designed but you still need money to produce it, you may be tempted to turn to Kickstarter or IndieGoGo for some crowdfunding help. Before you launch your campaign, read this article for ten tips on how to make it successful.
1. Ignore your own excuses. You may have a dozen (or a hundred) reasons that you can’t do whatever it is you want to do—and a lot of them are grounded in your own fear, not in reality. Practice ignoring the fear-based doubts to avoid being held back from your dreams.