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CDPSG3[CF-4] Crowdfunding – Module 4, G3 (IBS 107212043 彭竑愷 Joshua, IBS…

- - - - Film
      - Threaten/Dance
      - Art
      - Music
      - Publishing
      - Comics
    - - Product design
      - Food
      - Technology
      - Fashion
    - - Music
      - Comics
      - Games
  - - - the amount of money that you make over your goal does not seem to have a significant effect
    - - The more innovative your project was, the more likely it was to get funding from venture capitalists or angel investors
    - - Because venture capital and angel investor money is often a long-term process
        
        the more effort that you went to the preparation, and the number of hours you spent building your project idea per week,will be more possible to be invested
        
        So, companies who are in that game early on are more likely to raise the money
    - - VC want to see you raise crowdfunding money before you come to us
        
        shows that you know your market and there's actually demand for your product
  - - - using patents
      - trade secrets
      - Use copyrights
- - - - due to
        
        Linus's law
        
        “With enough eyes, all bugs are shallow.”
        
        If many people care about the project, fraud is hard to be executed.
        
        how it works
        
        Make sure the platform is actually engaged and willing to shut down projects that look potentially fraudulent.
        
        Some sort of threshold that allows backer to give time to evaluate the project before founder get the money.
    - - average failure rate is 10%
        
        very large and smaller projects have a higher chance of failure
      - Ex: theater projects
        
        money goes to the arts
        Kickstarter > the national endowment for the arts
        
        whether Kickstarter is good or bad
        
        compare
        
        Experts vs Kickstarter Backers
        
        The crowd and experts generally agree with each other, and that the crowd is more willing to fund things than experts are.
        
        The crowd may actually have wider tastes Iand be more tolerant of successes and failures than the experts.
        
        1 more item...
        
        The experts are good at minimizing risk, but maybe less good at picking things that could be a tremendous success or tremendous failure.
        
        1 more item...
  - - - when you get crowds together you get bad things
    - - large groups of people can be smarter than experts
- - - - (1) cost
      - (2) break-even margin
    - - (2) the place to land
      - (3) what the production model might look like
      - (1) the various scenarios of sort of over-funding
  - - - Process
        
        launching the campaign
        
        documentation to share
        
        (2) links of the videos
        
        (1) bunches of experience
        
        friends and family is big
        
        mail list
        
        interview
        
        the Canadian public broadcasting sort of version of All Things Considered
        
        preparation
        
        setting the expectation
        
        (2) setting intention
        
        EX:
        
        500 backers
        
        (1) make people know the project and get the feed back
        
        EX:
        
        Goal: $25,000
        
        finding the way to be known
        
        NPR
        
        substitue for a toto bag
        
        interviews
        
        end up
        
        Kickstarter: under $90,000
        
        TPR website: $15,000
        
        4 times
        
        shipping: 2,500 items
        
        5 times
        
        by friends and family assembly line and QC of course
        
        sold out
      - The Public Radio is a single station FM radio housed in the simplest enclosure we could find: a mason jar. It's a totally uncomplicated device - just an antenna and a volume knob - and will bring calm and consistency to your daily routine.
        
        a volume knob
        
        The Public Radio
        
        a single station FM radio
        
        meet the need of the users
        
        Order your own Public Radio today and our US manufacturing line will tune it, test it, and send it to you tomorrow.
        
        All you do is turn it on or off and control the volume.
        
        a mason jar
        
        an antenna
        
        The parts of the radio were designed in the USA and manufactured in southern China and in Taiwan.
      - the idea comes from a electronic class that MIT was offering : 6W2X
- - - - research similar companies
      - managing backers
        
        keep the updates
        
        once a month
        
        keeping on the regular schedule and expectations clear
      - close community
        
        to get feedback as building the product
    - - Facebook ads
        
        how many sign up onto the mailing list
        
        how many click
        
        not converting, specifically for our segments and for our product
      - design team
        
        the copy and the graphics
      - videographer
        
        do the filming
      - potentially PR agencies
        
        boost the social media
        
        freelancer
    - - Kickstarter
      - launch party
        
        invited local journalists and accelerator
        
        a little show demonstration of the mirror
    - - data on potential customers
        
        200 and 250 level
      - shipping costs
        
        international
        
        $90-120 for merit
    - - about $15,000 would be 10,000 e-mails to 50,000 e-mails on your list
      - take at least 6-12 months
- - - - 39%
    - - 10%
    - - 12%
    - - 14%
    - - 19%
    - - 4%
  - - - 35%
    - - 2-6%
    - - They don't get a lot of venture capital in crowdfunding
    - - ex:fashion, children's book publishing