Crowdfunding seems to work great for widgets. I am not sure how effective it is for big-ticket items like boats. They seem more in the realm of equity funding.
Sam, thanks for the advice, but taking orders for a product that doesn't exist yet and spending the money, then being unable to deliver for some act of God reason, is a good way to get sued and go bankrupt. On the other hand, we are gearing up to be able to accept equity investment.
Maybe you should think about "marketing" what you want to do. Talk to the people at "Faircompanies" or try to sell the idea as "Another way of living"
ReplyDeleteI mean, if high school kids with a social media account can get a ton of money in a "GofundMe" i hope we all can do it for an "Adult" cause.
Crowdfunding seems to work great for widgets. I am not sure how effective it is for big-ticket items like boats. They seem more in the realm of equity funding.
DeleteA suggestion: sell or pre-sell full plans and kits now. People don't want a book about it, they want it itself. Even if they have to wait a while.
ReplyDeleteSam, thanks for the advice, but taking orders for a product that doesn't exist yet and spending the money, then being unable to deliver for some act of God reason, is a good way to get sued and go bankrupt. On the other hand, we are gearing up to be able to accept equity investment.
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