Nick NM-Yap - How to Raise a Million Dollars on Kickstarter?, CSWGlobal14

Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
How To Raise A Million Dollar
On Kickstarter
Nick NM Yap | CEO & Founder ROCKI
Crowdsourcing Week Global | Singapore 10 April 2014

From Every Phone, To All Speakers, For Everyone. ROCKI. FREE YOUR MUSIC.

How to Raise a Million?

61 Projects Raised a Million

61 Projects Raised Over a Million
Total 136,367 Projects

0.04%

0.04%vs odds of winning a million in a lottery is about 0.000007%

1213 Projects Raised Over $100K
0.9%

59,439 Projects Successful (43.6%)
$1,058,366,405

How to Raise a Million?
DON’T THINK ABOUT THE MILLION

You know this cliche
DON’T THINK ABOUT PINK ELEPHANT

Crowd

Build a Crowd
Where are they? What are they doing? Engage each group - eg. Android
fanatics, iOS fans, developers etc - each group is a mini-crowd. Then
finally connect the mini-crowds into a Crowd - your project Crowd.

Build a Crowd
Dispersed individuals is NOT a Crowd
Birds of a feather flock together

Build a Crowd
You can’t have a successful Crowd-
funding without a Crowd
Where are they? What are they doing? Engage each group - eg. Android
fanatics, iOS fans, developers etc - each group is a mini-crowd. Then
finally connect the mini-crowds into a Crowd - your project Crowd.

You don’t build a business
You build people
and then People build the Business
… Team, Users, Friends, Friends of Friends, Journalists, Investors ...

Target-rich environment
You have to know people in order to
know people

Target-rich environment
You have to know people in order to
know people
- Dr. Phil -

Start Early
Social Media at least a month before.
Tell everyone. Don’t be shy.

What if someone steals my idea?
Threat vs Opportunity
Plan to compete from Day #1
Be faster, better and cheaper
Tell Everyone, not Everything
Phase your public info release

Traditional
Pitching
Broadcast Top-down
Crowd
Networking
Build from Bottom-up

Value Proposition
Win-Win
We Mentality

What type of products raise Million(s)?
Celebrity, ex-Fortune500 executives,
Games, Smartwatches, 3D printing
Neil Young’s Pogo music player raised >5 million dollars

Celebrity
Gaming
Smartwatch
3D Printing

XX% of >$1m Projects are Games

Have a Good Product
How will the product impact people?
Is it going to change an industry? Is it going to change habits?
Will it disrupt a status quo?
Is the underdog going to dethrone some incumbent?

How to Have a Good Product?
Crowdsourcing
Listen, Engage, Curate & Implement
It should be an ongoing process during the entire campaign
Even the entire life of the product
The Product gets personified
Becomes an extra dimension of an Engager

How to Have a Good Product?
The Micro-Product Manager
Here at Crowdsourcing Week, we’ve seen
the Micro-Entrepreneur, the Micro-Journalist, Micro-Producer … Everyone
is a Producer. You can be who you want to be.

4000+
Product Managers
30-day x 24/7 Meeting
More
Memory
Rounder
It should
have wings
I second that

Numbers Time
Know Your Pledge-Reward Value
Know Your Funding Goal
Aim to Fund within 3 Days
What size of a Team do you need?

New York
San Francisco
L.A. / San Diego
Miami
Netherlands
UK
Germany
Singapore
Shenzhen (China)
Shanghai (China)
Taiwan
South Korea
*
*
*
*

Media Exposure
Online most effective, 1.5 days effect
Huge difference between a media day and non-media day. It’s almost a
full-time obsession to chase for media exposure daily x30 days or more.

Social Media Traction
Press people are also people
If you are able to proof you can gain social media traction, the press will
feel more comfortable reporting about you, that you are / will be significant.
Social media is your mini proof of concept.

Users
Press
The Buzz Vortex

Make it a Crowd Fun Thing

1. Don’t Think About the Million
2. Build Your Crowd, Target Rich Environment, Start Early
3. Build People, Crowdsource your team
4. Crowd Networking, Engage, Think We
5. What’s Hot : Celebrity, ex-Fortune500, Games, Smartwatch, 3D Printing
6. Have A Good Product, Crowdsource “Product Managers”, Engage
7. Know Your Pledge, Reward, Funding Goal, Fund within 3 days
8. Media Exposure & Social Media Traction (The Buzz Vortex)
9. Crowd Fun Thing, Run it Like a Reality Show + Game Show
10.… … … ??
Recap

Can you do all that on your own?

[ reserved space for crowdsourced input #CSWGlobal14 ]

Can you do all that on your own?
Crowd it
If you are a product guy, get the social, networking people involved.
If you are a networking guy, don’t get more networking people. Seriously
get some product guys. You owe it to the backers to do it right incl.
organising a capable and balanced team.

Crowdsourcing is a paradigm shift
It’s a network more like chaos theory
than a linear progression
Starts with the One
Give it a shot. Always your best shot. That’s all you can do.

When you’ve done all that
You’ve got a Million Dollar company
money can’t buy
Starts with the One
Give it a shot. Always your best shot. That’s all you can do.

If you never shoot, it’s always a miss.
Dutch entrepreunial spirit

It’s a Road Trip, come journey with us
Planning 2-3 more Product Crowdfunding in 2014
[ Projects of different sizes Kickstarter, Indiegogo, Local ]
Prep phase for Equity Crowdfunding [ accredited AngelList / SeedInvest | non-
accredited Seedrs / CrowdCube ]
Crowdsource Video campaign
[ inspired by #CSWGlobal14 to go crowdsourcing with video campaign ]
How & Where to catch the bus?
Facebook : www.facebook.com/myrocki | @MyRocki
Google+ : gplus.to/myrocki | +Rocki
Twitter : www.twitter.com/myrocki | @MyRocki
Instagram : www.instagram.com/myrocki

THANK YOU
We’re Grateful & Pay it forward

Nick NM-Yap - How to Raise a Million Dollars on Kickstarter?, CSWGlobal14

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Nick NM-Yap - How to Raise a Million Dollars on Kickstarter?, CSWGlobal14