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Market Validation with Crowdfunding
A few things happen when you think of an
awesome idea!
You think you are the first one...
The reality is


You might not be the first one



Everyone might not love it
So after you have your idea, the next
three steps are usually
1. Research
2. Build a plan
3. Build a product
The question is when should you use
crowdfunding to validate your
product? After which step do you
think?


After Step 1?...
The correct answer is after:

Step 3
Crowdfunding ≠ Market Research
You’re going to need some proof that:
1. You have an actual product or prototype
2. That yo...
You have a product and some people
actually want it, now this is where
crowdfunding comes in.


Now you get to see how ma...
Why is crowdfunding a
big deal?
It lowers entry and growth
barriers for new businesses by
A LOT.
Continued


A Grant
−



Requires a lot of paperwork and takes a
while to go through

Family and Friends
−

They only ha...
Where would you get startup capital
5 years ago?


Bank Loan
−



They don’t usually place risky bets and
you have to be...
Don’t get anything wrong, these
options have their place in the world.
Crowdfunding provides a way for
new businesses to j...
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Crowdfunding

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Transcript of "Crowdfunding "

  1. 1. Market Validation with Crowdfunding A few things happen when you think of an awesome idea! You think you are the first one  You think everyone will love it 
  2. 2. The reality is  You might not be the first one  Everyone might not love it
  3. 3. So after you have your idea, the next three steps are usually 1. Research 2. Build a plan 3. Build a product
  4. 4. The question is when should you use crowdfunding to validate your product? After which step do you think?  After Step 1?  After Step 2?  After Step 3?
  5. 5. The correct answer is after: Step 3
  6. 6. Crowdfunding ≠ Market Research You’re going to need some proof that: 1. You have an actual product or prototype 2. That you know what you’re doing 3. That some people actually want to use your product 4. A kick ass video
  7. 7. You have a product and some people actually want it, now this is where crowdfunding comes in.  Now you get to see how many people want to actually buy your product via crowdfunding  It could be a 100, 1000 or none  Be prepared for anything
  8. 8. Why is crowdfunding a big deal? It lowers entry and growth barriers for new businesses by A LOT.
  9. 9. Continued  A Grant −  Requires a lot of paperwork and takes a while to go through Family and Friends − They only have so much money to give
  10. 10. Where would you get startup capital 5 years ago?  Bank Loan −  They don’t usually place risky bets and you have to be in business for at least 2 years Venture Capitalist − They are hard to get a hold of and might ask for a big chunk of your business
  11. 11. Don’t get anything wrong, these options have their place in the world. Crowdfunding provides a way for new businesses to jump start that initial process and gain their first customers.
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