By utilizing Kickstarter to launch I am able to get my product to market much sooner than expected!
I was originally designing for a SS15 launch. My plan was to bring my samples to Accounts/Boutiques in August for my collection to be on the shop floor by January 2015.
But-now I can sell for Summer 2014:) So excited about this. With a 4-6 week production timing..I should have my samples here in early May!
As soon as I receive my samples I will create a video to post on Kickstarter. I am going to wear my dresses around Portland,ME....doing different activities such as commuting on a bike, business meetings, running errands, and meeting friends for happy hour!
Why Kickstarter? Why Not! See below for the top 5 reasons why I am using crowd funding to start!
- Low Cost with High Rewards-All I need is to have one sample, a video which I plan to make with my iPhone, and my idea. If/When I do reach my target than I go ahead and buy fabric and place the order with a factory. It's a great way to pre-order with little or no up front cost to me.
- Funding is All or Nothing-I set my target (which in my case will be fabric and production minimums). If I don't reach my target backers do not get charged anything. I am not left with extra fabric liabilities or inventory.
- Keep 100% Ownership-Although people are backing my venture, I keep 100% of ownership throughout this process. The backer however will receive a fantastic reward-a dress by Jackie Real!
- Access to Larger Market Pool-Kickstarter has access to a lot more people than I do in a very fast amount of time with little cost to me. They only charge 5% of the money I raise. On there website...they have stated that since they launched in 2009, they have had almost 6 million people pledge $1 Billion dollars...so far they have funded 58,000 projects.
- Fast Way to Get Smart- The best part is that I will learn whether or not my idea/assumptions are valid. Basically-if people back me; then my idea is good. If not-then I need to make changes and try again. Anyone, even if do not give money, can offer their feedback. This is a great tool for me to learn what people think of my venture. It also, allows me to keep track of backers and keep them in the loop with my process.
What do you think of Kickstarter for me or in general? Have you tried crowd funding before?