Think crowdfunding is a one and done option? Think again. Entrepreneurs today are finding out that it pays to come back to the crowdfunding table for seconds and thirds. New projects after successful projects help to establish a history of success. People want security when it comes to their investments, which means a proven track record is a good thing at the crowdfunding table. Keep coming back for more and you’ll likely keep getting more.
It isn’t just for those who are successful either. Sometimes coming back with a better approach and the same great idea can create a payday that is worth millions of dollars. Just ask Ryan Dreppler.
Coolest Cooler Comes Back For $13 Million
The Coolest Cooler crowdfunding campaign on Kickstarter is one the of top funded projects ever on the site. It raised over $13 million mostly from pre-orders of the cooler’s design. What many people don’t realize, however, is that Dreppler ran an unsuccessful campaign the year before for a cooler with a similar design.
What Dreppler did was profound in its simplicity. He took advice from his backers, changed a few things with his product, and approached the campaign once again with a fresh look. He had a working prototype that he could show off. He specifically targeted his choice demographic so he could clone backers. That’s how his second campaign got to $13 million.
Coming back for seconds isn’t just for businesses and start-ups. Just ask David Walsh.
A Bowlmaker Has Created 16 Successful Campaigns
Walsh is just an average guy who loves working with his hands. He creates bowls from logs in his studio and then sells them over Kickstarter. Part of his success is due to the fact that he’s got the products in-hand and ready to sell, making his campaign more of a e-commerce solution than an investment.
What Dreppler and Walsh have figured out is the same thing that entrepreneurs in every industry are slowly starting to realize. Success comes when consistency comes. If people know what to expect from you and there are dynamic examples of your work or idea on display to be analyzed, then you’re creating a value proposition.
When people see value and it can translate into investment success, then they’re more willing to offer you some cash. Get enough people that feel that way and a foundation gets built for future success. So what if you’ve had a successful campaign… have you had 16 of them? If not, then it’s time to get to work.
Strong proponent of individual liberty and free speech. My goal is to present information that expands our awareness of crucial issues and exposes the manufactured illusion of freedom that we are sold in America. Question everything because nothing is what it seems.