We’re back atcha today with another good one that includes a very impressive guest who is also literally live on Kickstarter right now! Our client Dale Backus has developed a wildly-popular phone grip that has been raising thousands of dollars per day to challenge a complacent industry leader. Let’s see what we can learn from his crowdfunding story…
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⭐ During this episode, we detail these takeaways:
1. Entrepreneurs don’t always pioneer new markets but sometimes substantially improve existing products by providing new-and-better competition.
2. Although it’s usually best to start with a minimally viable product (MVP), some products require more-than-minimal functionality to effectively compete.
3. Crowdfunding can provide a wealth of useful data, including data that helps with manufacturing forecasts.
4. Customer surveys should be worded very carefully in order to obtain accurate actionable data, or else they might lead surveyors astray.
5. Backer updates and other communication should be authentic in presenting both the product and its creator.
6. Effective marketing can’t compensate for a flawed product, but a great product will benefit from effective marketing.
7. Successful startups need to continue to improve their products/services or else they might allow competitors to overtake them.
✍️ Click here for this episode’s complete show notes!
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