As a startup who has a new product to develop and sell, what is the best way to seek funding?
If a person or company has designed and created a new product (not tech) and needs to aquire funding to manufacture and launch to market. What are the best avenues for the start up to approach?
Suzie,
I would suggest looking into crowdfunding websites such as Kickstarter, Indiegogo or others. They can be great places not only to gain funding for your product, but also to validate that you have correctly positioned your product and that the market is reacting favorably to a product that isn't even available yet.
You will need to think hard about a launch strategy as well as what type of rewards you're willing to setup at the different tier levels, but all of that can set you up for a successful campaign. Also clearly explaining or demoing the product in a video can really increase the audience understanding and value proposition of the product.
I would also recommend that if you are interested in pursuing this avenue, that you browse the different platforms to find out which one is bet suited to your product, as well as research some successfully funded campaigns and see what you can learn from them to apply to your own.
Your welcome. I look forward to hearing the outcome of your research and the future direction or the project.
Suzie O'Leary
Thank you for your insightful answer Jef :-)...I'm now off to do some research on crowfunding.