Tips for a Successful Funding Pitch with Mindy Zemrak- AOTK 258
What does it take to secure a successful funding pitch for your business or innovative idea? How can you tell your story and pitch your idea to investors in a way that stands out from the competition? Mindy Zemrak joins the podcast to talk about her experience as a Supervising Casting Producer for Shark Tank. In our conversation, Mindy explains what the Shark Tank vetting process is like, how she conducts casting calls, what the Sharks look for when they hear a pitch, and much more. Don’t miss a minute of this eye-opening episode with Mindy!
The Shark Tank vetting process.
When you think of Shark Tank and the process it takes to get featured on the show, what comes to mind? Do you think of packets of questions that you’d have to answer and maybe even tech guys combing through your digital footprint? While some of those images might not be too far off, Mindy Zemrak was kind enough to give a more accurate peek into the Shark Tank vetting process. According to Mindy, between twenty and thirty thousand people apply to get the chance to make their funding pitch to the sharks. When they consider an applicant, half of the decision is based on the product or idea and the other half of the decision is based on the entrepreneur. To hear more about this elaborate process from Mindy, make sure to listen to this episode!
Why you need to know your numbers and tell your story.
With the knowledge that two factors go into the decision-making process to get featured on Shark Tank, wise entrepreneurs would take the time to hone their message. If you got the chance, would you be able to effectively tell your story and pitch your idea in a matter of minutes? The business industry has affectionately called this short speech the “elevator pitch” for years. If you don’t know your businesses numbers and you can’t tell your story with enthusiasm, you don’t deserve the investment! Make sure to listen to this episode as Mindy Zemrak reveals even more helpful insights into the Shark Tank process.
What to expect out of a successful Shark Tank experience.
While many applicants and entrepreneurs go through the Shark Tank experience, few get a chance to proceed with a deal from one of the sharks. Even if an individual doesn’t take a deal or all the sharks pass on the opportunity, they often get a huge boost in interest and sales due to visibility from the show. The fortunate few who do end up inking a deal with one of the sharks, start the next chapter with a lot to look forward to. After the deal is made, the work expected of the entrepreneur intensifies significantly. Thankfully, if you’ve made it that far, you are up for the task!
The future is bright!
What will be the legacy of platforms like Indiegogo, Kickstarter, and Shark Tank? Will these amazing platforms for innovation go down as trailblazers in a new era of invention and experimentation? Or will they blip on the radar scene as a fun national pastime? While the day is still young for these platforms, it is helpful to consider their impact. It seems safe to say that their collective influence on the entrepreneurial marketplace is substantial. The public popularity for these platforms has led to a seismic shift creating more opportunity for thousands of men and women that never existed before. To hear more about the bright future of the American dream from Mindy Zemrak’s perspective, make sure to listen to this engaging episode!
[1:05] Mindy Zemrak joins the podcast to talk about her role with Shark Tank.
[3:30] What is the Shark Tank vetting process like?
[6:40] Mindy talks about the casting call process.
[10:40] What do judges look for during a casting call?
[13:40] Are there certain criteria the sharks look for?
[17:40] How long does the pitch process take?
[19:00] If you get to pitch but don’t make a deal, what should you do?
[20:15] Mindy enters the Launch Round, rapid-fire questions.
[23:15] How to connect with Mindy.
Helping Innovative Products Succeed with Ryan DeChance from The Grommet – AOTK 257
What does it take for innovative products to succeed in today’s ecommerce marketplace? Is there any hope for entrepreneurs to get their ideas amplified? Ryan DeChance is the Discovery Director at The Grommet, a product discovery platform. In his conversation with Roy, Ryan opens up about The Grommet’s partnership with Ace Hardware, how they evaluate products, what role crowdfunding plays for The Grommet, what they look for when they consider supporting an entrepreneur and much more. Don’t miss a minute of this fascinating episode featuring Ryan and The Grommet!
Expanding the platform.
With the recent merger of Amazon and Whole Foods, conversations have increased about how ecommerce brands can partner with retailers. Playing to their strengths, these type of partnerships make a lot of sense to customers and investors. In 2017, Ace Hardware invested in The Grommet and also became a close retail partner. Together, with The Grommet’s web platform and physical presence in Ace stores, they are identifying, testing and growing new brands to become tomorrow’s household name. Learn more about The Grommet and Ace Hardware’s partnership by listening to this informative episode.
What does the process look like for product evaluation at The Grommet? Are there specific criteria that Ryan DeChance and his team search for when they consider an innovator and their product? As they begin the process, Ryan goes to work vetting the individual or team behind a particular product before they move forward. After that point, Ryan pitches the product to his discovery team, and they consider how the product fits on The Grommet platform. If the product passes muster, they proceed to the launch process which takes two to three months to complete.
How The Grommet works.
When you think of product platforms, what comes to mind? Between giants like Amazon, Ebay, and Kickstarter what would it look like for a product platform to stand out? The Grommet is a product discovery platform that amplifies innovative and unique consumer products from makers, inventors and small businesses to a community of 3.5 million supporters and early-adopters. Every weekday they launch at least one new product, and their goal is to improve the way consumer products are launched, discovered, shared and purchased.
Tips for successful crowdfunding.
How can innovators and entrepreneurs set themselves up for success? What is it that investors and partners look for when they consider which products to back? According to Ryan DeChance, more innovators need to be focused on these three areas:
Build support in your community and social spheres.
Don’t be discouraged if you don’t find initial success, keep at it!
Be kind and treat others like you’d like to be treated. Goodwill can go a long way.
To hear Ryan expand on each of these critical areas and provide more insights into how The Grommet works as a product discovery platform, listen to this episode of Art of The Kickstart.
[1:05] Ryan DeChance joins the podcast to talk about The Grommet.
[3:40] How did The Grommet end up partnering with Ace Hardware?
[6:00] What is the process of evaluating products for Ryan and his team?
[10:00] What role will crowdfunding play for The Grommet platform going forward?
[11:45] Ryan talks about what The Grommet looks for when considering partnerships.
[13:20] Tips for a successful crowdfunding campaign.
[15:20] Ryan enters the Launch Round; rapid-fire questions.
[19:30] Why you should check out The Grommet.
The Tattooist of Auschwitz
The Everyday Calendar
Connect With The Grommet
The Grommet website
Art of the Kickstart is honored to be sponsored by The Gadget Flow, a product discovery platform that helps you discover, save, and buy awesome products. The Gadget Flow is the ultimate buyer's guide for cool luxury gadgets ...
Crowdfunding From a Legal Perspective with Attorney Mark Roderick – AOTK 256
What does the crowdfunding sector look like from a legal perspective? How do recent and previous laws passed by Congress impact startup entrepreneurs and crowdfunding campaigns? Here to give his unique take on the subject is one of the leading crowdfunding and financial technology lawyers in the United States, Mark Roderick. In his conversation with Roy, Mark opens up about the JOBS Act of 2012, the pros and cons of equity crowdfunding, various liability concerns that startup entrepreneurs should keep on their radar and much more. You don’t want to miss a minute of this engaging episode featuring Mark!
Who is Mark Roderick?
Mark Roderick has enjoyed a robust career representing entrepreneurs and their businesses successfully for more than 25 years. He serves companies across a wide range of industries, including the technology, real estate and healthcare industries. Leveraging his in-depth knowledge of capital raising and securities law, Mark is spearheading Flaster/Greenberg's crowdfunding practice. Mark is passionate about encouraging and equipping business leaders so the crowdfunding sector can continue its upward momentum. Learn more about Mark and his fascinating legal perspective by checking out the link to his blog located in the resources section at the end of this post!
Three types of crowdfunding created by the JOBS Act of 2012.
Have you heard of the JOBS Act of 2012? Do you know how that law impacted the crowdfunding sector? Thankfully, attorney Mark Roderick was kind enough to break it all down in an easy to follow approach. The JOBS Act created three types of crowdfunding.
Title two of the JOBS Act allows companies to use the internet or other mediums to advertise their security offerings.
Title three of the JOBS Act allows a company to make securities offerings to non-accredited investors.
Title four of the JOBS Act, also known as, “Regulation A” allows an issuer to raise up to 25 million dollars a year from anyone (both accredited and non-accredited investors).
To hear Mark expand on his insights from the JOBS Act of 2012 and much more, make sure to listen to this episode, you don’t want to miss it!
The pros and cons of equity crowdfunding.
How should startup entrepreneurs like you view equity crowdfunding? Are there specific scenarios that equity crowdfunding is right for rather than others? According to Mark Roderick, equity crowdfunding is good for businesses that have a financial reward to offer. Equity crowdfunding is not helpful for businesses or causes that don’t expect a financial return. The best example of equity crowdfunding is real estate investment, as the primary goal is to invest in a venture that will provide a decent ROI. Make sure to catch the full explanation of equity crowdfunding from Mark and when to use it by listening to this informative episode!
Why it’s important to keep liability concerns in mind.
As you build your startup business, are their certain liability concerns that you should have in mind? Have you started exploring this critical facet of getting your crowdfunded business off of the ground? According to Mark, anytime you take other people’s money, you are exposing yourself to potential liability. Here is the crucial part, if you do everything right and comply with the law, you will not be on the hook if the investor’s money is lost. If you are starting your crowdfunding campaign, keep this in mind and make sure you are honest and transparent with the folks you are raising funds from!
[1:05] Mark Roderick joins the podcast.
[3:20] What the JOBS Act of 2012 created in regards to crowdfunding.
[6:30] How should a startup entrepreneur decide which regulation to raise funds under?
[9:00] The pros and cons of equity crowdfunding.
[12:00] Mark talks about the Investment Company Act of 1940.
[15:00] Which liability concerns should startup entrepreneurs have?
[20:00] How does the recent tax law reform impact the crowdfundin...
How to Fix Your Posture with Workhorse Saddle Chairs – AOTK 255
Have you ever tried to figure out how to fix your posture? Maybe you’ve had a few trips to the chiropractor to get an adjustment or to find some relief for your back or neck pain. What if there was a way to fix your posture by merely changing the chair you sit on each day? David France and Clint Wright join the podcast to talk about their fantastic innovation, Workhorse Saddle Chairs. In their conversation with Roy, David and Clint open up about where the idea for saddle chairs came from, why they decided to launch with so many variations, how they’ve responded to feedback from backers, and much more. You don’t want to miss a minute of this engaging episode featuring Workhorse Saddle Chairs!
Why we need better posture.
With the rise of standing desks and balance ball chairs, people with desk jobs are starting to take notice of the long-term adverse effects of sitting all day. Have you experimented with any of these tools? Studies have found that over time, regular chairs can cause the spine to degenerate causing back, shoulder and neck pain. Muscle imbalance is also created causing strain, ache and weakness. Pain, headaches, digestive and respiratory symptoms can follow, and patients can suffer depression as life is severely impacted. With all these effects, it's no wonder people are willing to try anything to keep their bodies healthy!
What is a Workhorse Saddle Chair?
Personally observing the ill effects of sitting on a regular chair, David France, chiropractor and founder of WSC, brainstormed and designed the Workhorse Saddle Chair concept from a personal, direct experience...to help fund his education, he worked with horses. Through Dr. France’s riding and anatomical and Chiropractic studies, he discovered that when people sit in a saddle, the body assumes an ideal spinal position. After many years of research and prototyping, he came up with his final concept for the Workhorse Saddle Chair. These innovative chairs have a unique, contoured saddle shape that will keep your spine in the perfect seated position. Make sure to check out their Kickstarter page located in the resources section at the end of this post!
Creating multiple options.
It is rare to find a crowdfunded piece of furniture go to launch with multiple variations. What led David France and his team to roll out not just one but seven different models of the Workhorse Saddle Chair? As they developed the WSC concept, they quickly realized that multiple applications and contexts need a custom chair design. By adding several versions of the WSC, David and his team could also provide a range of price points that would appeal to a more significant segment of their target audience. Rest assured, whatever your application, there is a Workhorse Saddle Chair that will get you well on your way to fixing your posture.
Lessons learned in crowdfunding a unique chair.
One of the best ways to set your crowdfunded product up for success is by creating an engaging video. David France and his team gave it their best effort and ended up with a compelling and convincing campaign video for the Workhorse Saddle Chair. In addition to launching with a good video highlighting their product, they also launched a product in a very niche category. The truth is, there aren’t many chairs on Kickstarter or crowdfunding platforms in general that address the critical need that the Workhorse Saddle Chair does. Learn more about David and Clint’s experience with crowdfunding their product by listening to this fascinating episode!
[1:05] David France joins the podcast to talk about Workhorse Saddle Chairs.
[3:05] How did David come up with the different saddle chair designs?
[5:30] Clint Wright talks about pre-launch marketing efforts.
[8:15] What made the campaign video resonate with people?
[10:45] Why did they launch with so many variations for the saddle chair?
[12:20] Responding to feedback from backers.
Crafting a Portable Changing Room that Works with Dennis Caco & April Estrada – AOTK 254
What would it look like if you could have a portable changing room at your fingertips? Imagine, no more dingy public restrooms or awkward wardrobe changes! The brilliant minds behind The Undress, Dennis Caco and April Estrada are here to showcase their fantastic product. In their conversation with Roy, Dennis and April open up about how they launched their first version of The Undress, why they chose to launch on Kickstarter, what the development process was like, how they marketed their product, and much more. Don’t miss a minute of this fascinating episode featuring Dennis and April!
What is The Undress?
Let’s face it, there are a ton of hurdles and logistical difficulties that arise when a woman needs to change her outfit away from the comfort of her home. For years, the solution has been wide-ranging from uncomfortable outfit changes in the car to enduring less than ideal public bathrooms. Finally there is a helpful solution on the marketplace, The Undress. The Undress is more than just a dress; it is a system that has many proprietary features to help women change clothes without ever getting naked. Not only is The Undress practical, but it is also fashionable too! Check out their latest version by going to www.TheUndressV4.com or their Kickstarter campaign page.
Crowdfunding a portable changing room.
What are the unique benefits of launching a clothing item like The Undress on a platform like Kickstarter? Why not take the more traditional route and go to clothing manufacturers to get the product in retail stores? According to Dennis, Kickstarter s the right place to start because of The Undress’ experimental features. While the platform was male-dominated and tech-dominated at the time, they decided to give it a shot and see how a portable changing room designed as a dress would fare for their first crowdfunding campaign. As it turned out, the product resonated with many women and ended up a great success.
Overcoming production challenges.
With such great success for the initial campaign, you’d think that the production process would go relatively smoothly. Unfortunately, there were several significant challenges that Dennis and April ran into when they went to work getting over 10,000 orders fulfilled. Connecting with a few manufacturers in the Los Angeles area, Dennis and April were hopeful that they could get things rolling quickly. Unfortunately, they got into business with some less than stellar manufacturers, which significantly delayed their delivery timelines. Thankfully their backers had the patience to stick with them and wait for their product to get delivered. Hear more about their challenging ordeal by listening to this episode!
A smart marketing strategy.
After multiple challenges with the first production run and then returning to Kickstarter with several updated versions of The Undress, what enabled Dennis and April to enjoy such marketing success? Did they have a secret formula that they labored over? According to Dennis, the best marketing strategy that worked for The Undress was getting someone on their team who is a marketing expert. While innovators might have a great idea and the passion for getting their product to the finish line, most are not talented marketers! Discover more of the valuable lessons that Dennis and April learned in each of their successful Kickstarter campaigns by listening to this episode!
[1:05] Dennis Caco & April Estrada join the podcast to talk about The Undress.
[8:00] Why did Dennis & April launch The Undress on Kickstarter?
[11:30] What was the production process like for The Undress?
[22:00] Dennis talks about the best marketing strategy for a crowdfunded campaign.
[26:20] Dennis enters the Launch Round, rapid-fire questions.
[31:00] Why you should check out The Undress.
The E Myth
The 4-Hour Workweek
Connect With The Undress
The Undress Version 4 on Indiegogo
Travel in Style with The Kosan Go Travel Dress – AOTK 253
Have you ever wondered why options are so limited when it comes to travel clothing for women? For too long women have had to scrape by with clothing that didn’t meet their traveling needs. Here to bring a helpful solution to the marketplace is the Kosan Go Travel Dress. On this episode, you’ll hear from Kosan Travel co-founder, Karyna McLaren as she explains how the product got off to such a successful launch and much more. Don’t miss a minute of this fascinating and engaging episode featuring this unique product!
Lessons learned from previous campaigns.
While it’s great to learn from your past mistakes, it is a lot more fun to learn from your recent successes. Karyna and her team at Kosan Travel have had the incredible fortune to build off of a successful crowdfunding campaign to launch their new product, The Kosan Go Travel Dress. Looking back on that first run, Karyna saw that there was a massive gap in the travel clothing and accessory category and wanted to find an innovative way to address it. Learning from the success they garnered with the travel bag they launched, Karyna and her team took their efforts to the next level by bringing the Travel Dress to market.
What is a Travel Dress?
There are a ton of unique fashion options in the marketplace, but there are few affordable and stylish travel clothing options for young women. The folks at Kosan Travel put together an expert team that created the Kosan Go Travel Dress with the world traveler in mind. The travel dress is designed to enhance the wayfarer’s trip; it is loaded with traveler-friendly features that promote safety, organization, and style. When you travel, versatility is vital. Often the goal is to pack as little as possible while getting maximum wearability. The Kosan Go Travel Dress has an adjustable length; meaning regardless of the occasion, you are ready to go. Learn more about this unique product by checking out their Kickstarter page!
Pre-campaign efforts that led to success.
How do you set up a crowdfunding campaign for success? Are there certain best practices that you can employ that will best position a product to catch on? According to Karyna McLaren, it was a mixture of ad campaigns and networking with their target audience that got things moving in the right direction early on. Specifically, Karyna says that she and her team worked hard to connect with Facebook groups that focus exclusively on female travel. Between that effort and engaging with women who were part of their last crowdfunding campaign, they were able to create a sizeable audience pre-launch.
Responding to Feedback.
Let’s face it; you won’t get far in the crowdfunding community if you fail to respond to and value the feedback of your backers. Some startup entrepreneurs go in with a plan to keep their backers informed, while others proceed with no plan at all. Karyna McLaren and her team were so committed to fostering a good relationship with their backers that they called every backer from their first crowdfunded campaign. That effort alone shows you that Kosan Travel is dedicated to honoring their supporters and doing everything they can to fulfill their commitments.
[1:05] Karyna McLaren joins the podcast to talk about The Kosan Go Travel Dress.
[1:45] Karyna talks about launching her first crowdfunded product.
[4:00] What led Karyna and her co-founder to crowdfund The Kosan Go Travel Dress?
[6:00] The difference between their first crowdfunding campaign and the current one.
[7:30] Pre-campaign efforts that led to early success.
[10:00] Responding to backer feedback.
[12:00] Karyna enters the Launch Round, rapid-fire questions.
[14:00] Why you should check out The Kosan Go Travel Dress.
Connect With Kosan Travel
The Kosan Go Travel Dress on Kickstarter
Kosan Travel website
Kosan on Facebook
Kosan on Instagram
Designing Sustainable Solutions with Alice Chun Creator of The QWNN – AOTK 252
One of the most amazing aspects of the crowdfunding movement has been the surge of unique, sustainable solutions brought to the marketplace. From reusable beverage containers to innovative clothing, more and more entrepreneurs are considering how they can bring a solution to their wider community. The solution that Alice Chun and her team have developed is something that everyone around the world needs access to: renewable energy. In her conversation with Roy, Alice opens up about The QWNN, where the idea came from, why she chose to take her product to Indiegogo rather than Kickstarter, and much more! Don’t miss a minute of this fascinating episode featuring Alice and The QWNN.
What is The QWNN?
Did you know that fossil fuels, used for energy and lighting globally, create 65% of the pollution in the air? Now more than ever, there is a significant need for sustainable and affordable sources of power. The QWNN is a unique, origami-inspired, foldable, portable lantern and power bank. This product has been designed to harnesses the sun’s power and give users brilliant light to accent their home, garden, and outdoor adventures. To hear more about this amazing product and the story behind its creation, make sure to listen to this powerful episode with Alice Chun!
Why sustainable solutions are so important.
As the global community faces increasing threats of natural disaster caused by global warming, new resources are needed to help devastated communities recover. Part of the mission and drive behind the creation of The QWNN is to help these communities by providing a product that will last. The company behind The QWNN, Solight Design, has a social mission to bring light to underserved regions around the world. The SolarPuff was created in response to the 2010 Haiti earthquake, and they have since expanded to a whole line of solar lanterns. It's so inspiring to hear these amazing stories of innovation tied to social good!
The difference between Kickstarter and Indiegogo.
Many startup entrepreneurs struggle with the decision of which platform to launch their product on, Kickstarter or Indiegogo. We’ve seen many entrepreneurs thrive with their innovative products on both platforms over the years. For Alice Chun, she has the unique vantage point of launching a product on both platforms, first on Kickstarter and then on Indiegogo. Alice made the switch to Indiegogo after a few rounds of miscommunication with Kickstarter, plus she really enjoyed the fact that Indiegogo provides a liaison specifically assigned to each project. Learn more about Alice’s experience on both platforms and more on this engaging episode!
[1:05] Alice Chun joins the podcast to talk about her product, The QWNN.
[4:20] Why didn’t Alice take The QWINN to Kickstarter? What changed with this version?
[8:00] How Alice and her team reached fundraising goals & press engagement tips.
[10:00] What led Alice to get involved with creating solar lanterns?
[13:10] Alice talks about the difference between launching on Kickstarter and Indiegogo.
[15:15] Alice enters the Launch Round, rapid-fire questions.
[17:00] Why you should check out The QWNN.
Tribes: We Need You to Lead Us
Connect With The QWNN
The QWNN on Indiegogo
Art of the Kickstart is honored to be sponsored by The Gadget Flow, a product discovery platform that helps you discover, save, and buy awesome products. The Gadget Flow is the ultimate buyer's guide for cool luxury gadgets and creative gifts. Click here to learn more and list your product - use coupon code ATOKK16 for 20% off!
Art of the Kickstart is honored to be sponsored by BackerKit. BackerKit makes software that crowdfunding project creators use to survey backers, organize data, raise additional funds with add-ons and manage orders for fulfillment, saving creators hundreds of hours. To learn more and get started, click here.
The Smart Bottle that Never Spills with Fredrik Krafft – AOTK 251
Imagine grabbing a portable drink container that you never have to worry about spilling or finding the right button or angle to use. Fredrik Krafft has developed a smart bottle that does all the work so you don’t even have to think about it! In our conversation, Fredrik opens up about how he came up with the idea for the Lyd Bottle, what the pre-campaign work was like, how he engaged with his backers, the benefit of using Kickstarter Live and so much more. Don’t miss this great opportunity to learn from Fredrik’s journey with the Lyd Bottle!
What is the Lyd Bottle?
There are so many great portable beverage containers on the market today, how do you choose which one is right for you? Do you need a container that will keep your beverage hot all day? Do you need a container that is convenient to carry? Or do you just want something that makes sense? As so many products flood the marketplace, the ones that stand out are those help users cut through all the complexity and get down to the basics: is it easy to use? When it comes to the Lyd Bottle, the answer is a resounding, yes! The Lyd Bottle is the only beverage bottle designed with 360-degree, touch-activated access that lets beverages flow the moment the bottle touches your lips. Don’t ever worry about buttons, tabs or finding the right position ever again!
Take your time laying the foundation!
Many startup entrepreneurs get so excited about bringing their product to market that they fail to build a solid foundation for their product to succeed. From market research to audience engagement, it’s vital that startups take the time to not only perfect their product but make sure their marketing approach connects. Learning from the success and failures of others, Fredrik took the time to connect with partners who could help him bring the Lyd Bottle to market in the best way possible. To learn more about Fredrik’s story and how he was able to get the Lyd Bottle in the best position for success, make sure to listen to this episode!
Engaging with backers and learning along the way.
Let’s face it, a startup product succeeds or fails largely based on the way that the brand treats their backers. While many startup entrepreneurs go into the process with the intention of staying connected to their backers and keeping them updated, the truth is, many fail to do so. Fredrik and his team did their best to learn and adapt their engagement strategy along the way. When they noticed their response time slipping, they worked hard to address that, then found ways to proactively engage with their audience by developing answers to many common FAQs. What can you learn from Fredrik’s journey?
Leverage your network.
At the end of the day, launching a crowdfunded product isn’t for the faint of heart. What steps can an entrepreneur take to build a community early and get their product off the ground and headed for a strong start? According to Fredrik Krafft, it all comes down to leveraging your circle of friends and family to fan the flames of the project from the start! If you believe in your product, then do what you can to spread that excitement to your friends and friends, as they could end up being some of your best cheerleaders and financial backers!
[1:05] Fredrik Krafft joins the podcast to talk about his product, Lyd.
[3:00] What was the preparation work like for Fredrik before he launched his product?
[8:00] Fredrik talks about engaging with backers and how that evolved.
[10:40] The benefit of utilizing Kickstarter Live.
[12:30] Fredrik shares his biggest takeaways and lessons learned.
[15:00] Why it’s important to have friends and family support your venture.
[16:10] Fredrik enters the Launch Round, rapid-fire questions.
[19:20] How to connect with Fredrik and Lyd.
Lyd on Kickstarter
The Lean Startup
Connect With Lyd
Why It’s Vital to Build an Audience Before You Launch with James Daigle – AOTK 250
How do you handle adversity? Do you learn from it and move forward or does it tend to knock you back and cause you to question your approach? James Daigle joins the podcast to share his experience with crowdfunding and the lessons he’s learned along the way. In our conversation, James opens up about his first two unsuccessful crowdfunding campaigns, what he learned from the process, how his third campaign succeeded, why it’s important to keep your backers in the loop and so much more!
Don’t forget to build an audience!
Building an audience is not an easy or straightforward endeavor, but it can set you and your fledgling product up for long-term success. Too often startup entrepreneurs charge ahead and fail to take the time to do their research and connect with an audience that will fan the flames once they launch. James Daigle wants as many entrepreneurs as possible to learn from his oversight and take the time to find an audience before it's too late. During a product launch is the worst time to be searching for an audience, do the legwork and connect before you launch! To hear James go into further detail on this important topic, make sure to listen to this episode!
Responding to disappointment.
Let’s face it, an unsuccessful crowdfunding campaign is a tough pill to swallow. You pour time, resources and energy into an exciting project only to see it fail to reach the level of success you had hoped for. What do you do, scrap the whole thing and go back to the drawing board? For James Daigle, everything started off promising, they had the right tools and an ambitious goal, but they failed to reach their goal by $4,000. Instead of letting this disappointment sour him on the crowdfunding platform, James used this lesson as fuel and went on to launch two more campaigns before he found success. What can you learn from James’ story?
Finding a path forward.
Determined to find success through the crowdfunding platform, James Daigle and his team went back to the drawing board. Experiencing a second setback would knock most people out of the game but James pushed forward and tried for a third crack at getting a product funded via crowdfunding and he succeeded! If you are convinced that you have a product that will benefit the marketplace then stand behind it and don’t give up. Be prepared to face adversity and challenges, they can either defeat you or help you learn along the way. Learn more helpful lessons from James’ inspiring story by listening to this episode, you don’t want to miss it!
Why you need to keep your backers updated.
You’ve heard of the golden rule, right? “Do unto others as you would have them do unto you.” Consider that wisdom as you launch your product! Put yourself in the shoes of your backers and treat them as you would want to be treated by someone you’ve invested in. It really doesn’t have to be more complicated than that. If you don’t trust your ability to consistently follow up with and engage your audience, then outsource it! The last thing you want to do is cause ill will with the people who’ve taken a chance on you. For more perspective on this subject, make sure to listen to this episode with James Daigle!
[1:05] James Daigle joins the podcast to talk about his experience with crowdfunding.
[3:00] James talks about his first crowdfunding effort.
[6:50] Why it’s important to set realistic fundraising goals.
[9:00] The wisdom of building a crowd of fans before a product launch.
[10:30] Building off of crowds from previous campaigns, the third time's the charm!
[12:45] Why you need to keep your backers in the loop.
[15:00] James enters the Launch Round, rapid-fire questions.
[17:00] Why you should check out James’ work with Ubiqweus.
Ubiqweus Qbiq Kickstarter Campaign
Crossing the Chasm
Check out the Ubiqweus website
Follow James on Twitter
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Developing a Delicious Keto Meal Shake with Ted Tieken – AOTK 249
The Ketogenic health plan or Keto is taking the nation by storm, but what if you don’t have time to sit down and prepare a meal that keeps you on the plan? Here to provide a solution with a delicious Keto meal shake is Ted Tieken. In his conversation with Roy, Ted opens up about why he started the Ketogenic diet, how that led him to try his hand at a Keto-friendly meal shake, what it was like bringing that product to the marketplace, challenges he has faced along the way and so much more. Don’t miss this great opportunity to get an inside look at the beverage development crowdfunding community!
What is the Ketogenic diet?
If you aren’t up to speed, the Ketogenic diet is a very low-carb diet, which turns the body into a fat-burning machine. The primary goal is for weight loss but many users also turn to it for reduced inflammation as well. One of the biggest struggles with staying on a Keto-friendly eating plan is dealing with all the prep-work needed for a satisfying meal. From shakes to prepared and packaged foods, the market is bursting right now with a number of great, Keto-friendly options. Having said that, there is always room for innovation. What really sells is not only a healthy option, but convenient options!
Convenience is king!
Let’s face it, no matter which eating plan you are on, from highly regulated to whatever is nearby, convenience will almost always win! As diet plans continue to pick up steam in our society, more and more options are moving toward catering to the need for convenient meals and snacks. While it’s usually a better idea to take the time to prepare a meal, it’s helpful to have alternatives nearby so you don’t have to abandon your dieting goals. That’s why Ted and his team developed their product, Sated. Sated is a ready-to-drink keto meal shake with a ton of fiber, protein, potassium and other nutrient-rich ingredients that provide the fuel you need to get through your day.
Building a solid base for marketing.
What is the best way to build and reach your target audience? Is it the best idea to look at Facebook Ads or is email marketing the best option for your startup? Each niche market is going to have different results depending on the habits of their target audience. For Ted and his team, they found that the best use of their time and resources was building up a robust email campaign that ended up bringing in an impressive ROI. They also connected with Keto enthusiasts on web forums like Reddit to build awareness and excitement. Learn more about Ted’s successful marketing strategies by listening to this episode!
Reviews that make a difference.
One of the hardest aspects of getting a startup off of the ground and running is a lack of awareness and public trust. How does an unheard of brand establish trust when they are new to the marketplace? Customer reviews are taking on an important role when it comes to building the trust that is needed for first-time buyers to take that risk on a purchase. With an eye toward their Amazon product listing, Ted explains that he has seen how reviews for Sated have impacted their sales and their market reputation. What can you learn from Ted’s experience with reviews? How will your business highlight this important aspect?
[1:07] Ted Tieken joins the podcast to discuss his product, Sated.
[6:00] Challenges with pre-campaign efforts and launching a beverage.
[7:30] What strategies led to early success for Ted and Sated?
[11:45] Ted talks about earning trust and getting good press coverage.
[13:45] Tips for startup entrepreneurs looking to create a new beverage product.
[16:10] Ted enters the Launch Round, rapid-fire questions.
[18:40] Why you should check out Sated.
Sated on Kickstarter
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The E-myth Revisited
Connect With Sated
Check out the Sated website
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