What is KICKSTARTER?
Kickstarter is the worlds largest and most proven Crowd Funding platform. It allows for businesses to propose projects or ideas and sell “ownership” to supporters. It’s a lean way to validate a business model or grow your business without being forced to take on debt or sell off ownership to a single investor.
How KICKSTARTER works…
First off, if you have yet to visit kickstarter.com, you should go there now and explore. Effectively, business owners, artists, and dreamers are able to create Kickstarter campaigns. The creator presents his or her concept, tells how much it would cost to make that dream come true, and asks for backer support in exchange for a reward, i.e. the product they have conceived.
If people believe in the product, they can then choose to back it for any amount of money that they choose, often the more they pledge the better the product variation or bundle. Some projects have been back up and over $5mm.
Kickstarter campaigns run for a fixed number of days, normally 30-45, and backers can pledge (and modify their pledge) at any time. But the interesting part of the model is that backer’s are only charged if the product is fully funded.
Products that do well on KICKSTARTER…
Are awesome, unique, and solve problems. Then there’s potato salad.
More importantly, products that do well on Kickstarter are supported by Friends and Family early in the campaign. As it turns out, Kickstarter works very much like a popularity contest. The more people that support a project, the more people will support the project. And the earlier the better.
Publicity for Kickstarter campaigns comes almost only when the campaign has been fully funded in record time or after traction has been shown the 100% funding seems inevitable.
So what’s our plan?
We’re opening up to friends, family, fans and followers and asking for any advice you might have…
We’ll be sharing our story and plan with our network and any press that might be interested in our product, our brand or our story.
We will be asking anyone who would like this product (or just like to see us succeed) pledge their support on the morning of October 29th, 2014.
Our plan is to send as many people to our Kickstarter page as we can on the very first morning of the campaign. Hopefully we will receive the momentum needed to start getting bigger media outlets interested.
In the end, the success of this Kickstarter will come down to the organic support from our closest friends and earliest supporters.
We can’t thank you enough for the support you’ve already shown and we’re excited to share this journey with you!
-The WolaCo Team
Again, if you have any advice, people we need to connect with or something on your mind, please let us know...