Picture this – you’ve achieved your funding goal on Kickstarter or Indiegogo and you’ve started production, but now you find that there is going to be an unavoidable delay in shipping your product to your backers. You don’t want to let your backers down, so what should you do?
So, you’ve decided you want to bring your idea to life through crowdfunding. Just how far along in design should your product be in order to attract backers and carry out a successful campaign?
As a company that has managed hundreds of Kickstarter and Indiegogo projects, we’ve learned a thing or two about launching campaigns. One question we are often asked is, “When is the best time to launch a crowdfunding project?” While this is a loaded question in more ways than one, we’ve put together this guide to help you decide when pressing that “launch” button may be best for you.
After a successful Kickstarter or Indiegogo campaign, there are quite a few long-term options for selling your product. If direct-to-consumer isn’t right for you, crowdfunders also see big returns from selling their product wholesale, or even working with distributors.
One problem we see often with wildly successful Kickstarter and Indiegogo campaigns is a lack of post-campaign growth; in fact, sometimes growth seems to grind to a halt once a campaign ends. While ecommerce options abound, and provide great avenues to sell more product, chances are high you’ll also need a way to continue raising capital in order to grow your business. Enter: equity crowdfunding.