I often see discussions about bootstrapping vs. raising VC money, but I rarely see people talking about crowdfunding platforms like Kickstarter or Indiegogo.
Has anyone here actually tried it? Was it successful or did it flop? And what type of product was it?
Any experience with crowdsourcing?
byu/john_smith1365 inEntrepreneur
Posted by john_smith1365
2 Comments
Working on one now on Kickstarter but have not actually done one myself. It’s totally a great vehicle to get capital up front with minimal risk, but to do this you totally need the buy in from the market. In order to have the successful Kickstarter you’ll need to already have enough of a following / buy in to make it successful. You’ll then have the money up front without having to take a huge capital risk and hope the people will come.
Remember, rewards based crowdfunding and reg CF are two very different things. That’s why you don’t see them associated.
I’ve done rewards based and it’s great to launch products and get traction over done reg CF but know many founders that have for success.