Friday, 3 December 2010

KICKSTART'ING' THE BEST NANO WATCHES AROUND

Social Backing without losing equity from the people who really count...

You can often find me bending the ears of Friends and Family about my 'ideas' and what I would do if I had the funds... the ideas aren't the problem. But for alot of people the funds are... Luckily for the ideas I'm especially passionate about, I have found people who are passionate about them too. So experimenting with samples and Beta's is alot easier with two heads four hands and fourpockets.

However, sometimes you need serious capital to make dreams a reality. You have a few options... you could visit a VC, go on Dragons Den (which is often more of a risk to personal pride than anything else) OR... you could pitch the idea to the very audience who will buy your products...

Kickstarter is a very exciting new site that makes the latter a real possibility without losing alot of equity in the process... all you need is an idea, a prototype (which helps your cause) and a little Social Media magic to promote your concept and raise the cash you need for your first real order.

I stumbled across Kickstarter when I read about MNML design on bbcicecream.com Their idea was simple, produce high quality DESIRABLE iPod Nano Watch straps.

See their pitch to you the consumer below it makes for compelling viewing.



See full profile here

By pledging your interest in watch on Kickstarter you are basically agreeing to a pre-order placement at a certain price.

Based on the results below it seems like a pretty good strategy...

It goes without saying that this is an highly appealing idea and was quickly picked up by the top fashion and design blogs around. However for budding innovators I think Kickstarter is an excellent idea and I plan to experiment with it in the future.


From the Kickstarter site...

Kickstarter is the largest funding platform for creative projects in the world. Every month, tens of thousands of amazing people pledge millions of dollars to projects from the worlds of music, film,art,technology, design, food, publishing and other creative fields.

A new form of commerce and patronage. This is not about investment or lending. Project creators keep 100% ownership and control over their work. Instead, they offer products and experiences that are unique to each project.

All or nothing funding. On Kickstarter, a project must reach its funding goal before time runs out or no money changes hands. Why? It protects everyone involved. Creators aren’t expected to develop their project without necessary funds, and it allows anyone to test concepts without risk.

Each and every project is the independent creation of someone like you. Projects are big and small, serious and whimsical, traditional and experimental. They’re inspiring, entertaining and unbelievably diverse. We hope you agree... Welcome to Kickstarter!


2 comments:

humble genius said...

Thing is... If I pledge some money to an idea. What do I get in return? I mean is it purely altruistic?

John Barton said...

Well in this case you do actually get the physical watch binding.

It does vary from project to project though depending on what they are trying to achieve. Some people may just be looking for donations...

I liked this example because each pledge allowed them to produce a product. Much better than producing $500,000 worth and hoping they sell...