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Crowdfunding Uncut | Kickstarter| Indiegogo | Where Entrepreneurs Get Funded

Why should you listen to Crowdfunding Uncut? Because I’m asking the same questions you want to know. I know what it feels like to fail at crowdfunding. I also know what questions to ask, and what to do to raise over half a million dollars on Kickstarter and Indiegogo. As I’m also advising Crowdfunding campaigns, I need to keep up to date with what’s working and what isn’t. Questions that will get answered on this show: what crowdfunding platform is right for me? What can I do to have a successful product launch? How can I get 1000 backers for my project? What really matters? What if I have a small budget? What happens after crowdfunding? I will share with our best interviews showcasing the campaigns processes, failures, critical lessons learnt and actionable strategies showing YOU how to get your project funded. This is where project creators get funded.
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Now displaying: December, 2017
Dec 15, 2017

My guest today is David Roher. We’re talking about doing things that people may think you’re crazy for doing. We recently completed an Iron Man Triathlon. It was the hardest endurance activity I could have ever done.

 

[03:36] How David Knew He Wanted to do a Triathlon

 

David and his wife live an average life. When David was 38 his father had a heart attack. To help with his therapy he made his dad exercise. He started hearing about triathlon’s and it was something that interested him. He got into it and immediately began to love it. He determined that he was finally good at something outside of his work.

 

He went to North Carolina for a seminar on coaching. He then became a certified coach and began realizing what he liked about himself. He wanted to impart this feeling to other people. Most people when they complete a triathlon stop there. It’s more of a bucket list item for them. To David, it became more of a lifestyle. It transformed his outlook and approach to life.

 

Completing the iron man triathlon gave him empowerment. He dedicated a year of his life to achieve this goal. It was a very difficult task to the point where David felt like he was going to die. The end goal of reaching the finish line was his motivation to continue through. He set a goal that is beyond most people’s capacity and provide you can do almost anything you put your mind to.

 

 

[16:23] Prepare Yourself for a Triathlon. Same as you Would in Business.

 

It’s important to properly prepare when attempting a triathlon. It’s difficult to understand what is expected before going into it. Being prepared for what you can expect will bring you success. The same translates to business. When you’re more prepared in a situation the easier it is to execute.

 

You can feel defeated when you’re not properly prepared. Going into a situation where you’re not prepared can lead you to not wanting to do so again. This can be a barrier when faced with new opportunities. David set goals and prepared himself for the triathlon’s he’s completed. Remember, you can’t prepare for everything.

 

When training for a triathlon David was in an accident with a vehicle while on his bike. When he got home he realized there was an issue with his arm. After visiting the hospital, he found out he had broken his arm. Despite this David was still committed to doing the triathlon. He continued to work hard and train to complete the triathlon. He soon realized that his injury was causing him to take longer to complete activities.

 

He could have gone home and said at least he tried. Instead he continued and worked hard to reach his goal. The amount of training required is daunting. He was able to use his training tactics towards improving his life.

 

[25:48] Take Time to Train

 

An average training week for David isn’t a normal training week for other people. He doesn’t have a normal schedule as he teaches and tutors. Having a coach when training is important. Coaches will train you based on their experience and not yours. This is a good thing when you have limited experience.

 

A normal training time for people would be 5 out of 7 days. Each day would be set with different exercises to train on. You should have two long exercises, two medium exercises, then one small exercise. David’s training schedule is a bit more intense than that. He pushes himself beyond the frustration of discomfort.

 

[31:10] Celebrate the Small Accomplishments

 

It was terrifying to David to become an entrepreneur. The reason he went with teaching is because it was a safe bet. While it has its unique challenges it’s nothing like running a business. He started becoming an entrepreneur when he became a coach. He began to realize he liked working with people in a more freedom oriented environment. He wanted to encourage others to achieve their goals.

 

Mindset is huge. Your body can tolerate a lot of stress and frustration. Many entrepreneurs get stuck. They have mind barriers put up that prevent them from getting to their goal. We need to celebrate the moments where we feel we’re going to fail. Otherwise we end up sabotaging ourselves. Put benchmarks in place on your journey and keep yourself accountable to your goals.

 

[40:54] Bounce Your Ideas off Someone

 

Don’t get caught up on the narrative in your head. You could have the best product and put all you have into it. Yet, your strategy could be off. You might not be aware of the opportunities available to bring it to market. Have a sounding board where you can bounce off ideas. If you stay living in your head, you could miss many opportunities.

 

[42:20] Contact David

 

If you want to reach out to David you can e-mail him at davidroher@aol.com.

 

 

Episode Outline

 

Introduction: Being an Entrepreneur is Like Doing a Triathlon

 

[03:36] How David Knew He Wanted to do a Triathlon

[16:23] Be Prepared for a Triathlon. Just as you Would in Business.

[25:48] Take Time to Train

[31:10] Celebrate the Small Accomplishments

[40:54] Bounce Your Ideas off Someone

[42:20] Contact David

 

Resources and Sponsor

 

Gadget Flow

 

Follow David Roher @ ??

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Dec 4, 2017

 

My guest today is Ted Flemming. He’s used Kickstarter to raise awareness and funds to his non-alcoholic beer brewing brand. He raised a little under $30,000 for his project! He’s here to share why he used Kickstarter for his campaign.

 

[02:33] Why Non-Alcoholic Beverages?

 

Ted began getting into the craft beer scene in his late-20’s. His journey was cut short due to a diagnosis of Crones disease. he also became a father around the same time. It made him change his focus towards making his health a priority. Because of this he gave up alcohol. He missed the social aspect of drinking with family and friends. This was his motivation towards starting a non-alcoholic beer brand.

 

Ted’s background was an engineer and he didn’t know much about the space he was getting into. His E-Commerce platform has grown to alcoholic-free beverages such as wine and spirits. Creating a product based on what he liked and the feedback from customers was a huge asset.

 

[07:44] Kickstarter Campaign or Community Investment?

 

Ted used an e-commerce platform to reach his customers. He built a community of 10-15,000 people between customers and social media followers. He values the feedback he gets from his customers. He wants to increase the quality and diversity of their products.

 

Kickstarter showed extreme potential to Ted. It was an opportunity he didn’t want to pass up for his brand. For the future, he will most likely be taking fundraising internally. The cost for using these platforms adds up over time. Every percentage of revenue going out is important. About 25% of investors came from their Kickstarter campaign. The remaining percent came from their community. This showed Ted which path he needs to take in the future when asking for investments.

 

There wasn’t much hesitation to start a Kickstarter campaign for Ted. He had done the research needed to have a successful campaign. Preparation gave him comfort.

 

[14:30] Expect the Unexpected

 

Coming into a crowdfunding campaign with an engaged community or a lead-up is helpful. It helps get your product out there to a larger community. This was very important for Ted. He needed to have this system in place and take advantage of it as a tool. Next time Ted looks to do this, he would like to be farther along in the production process.

 

His first campaign had production delays. In the future he hopes to have more clarity on his path to production. When your campaign is successful it's stressful to fulfill commitments. Have a production process in place before your campaign is complete.

 

Ted developed a prototype and the recipe for beer. He didn’t have the next step of bringing it to a commercial scale. Pitching that it was a non-alcoholic product was also a difficult challenge for Ted. Being first to market created hesitancy from manufacturers.

 

Once the goal for the campaign was reached, Ted started conversations with brewers. In the brewing industry it’s very based on the season. He was coming in during springtime when business was picking up and people were too busy. Had he come in the fall it would’ve been better timing for his brand. Having an understanding of the industry and timing is important for any business.

 

When you decide to go the crowdfunding route, it’s important to have a structure in place. Have your fulfillment and processes in place to be successful.

 

[21:58] Accident Turned Success Story

 

Understand what your manufacturing time frame is to know your production time. Give yourself enough time in case there’s any unexpected surprises. Customer fulfillment when you’re first launching a brand is very important. Have the mindset that everything will be twice as much and twice as long as you expect.

 

It’s not easy to tell your backers there’s going to be a delay. Ted had a production issue with the product not coming out as he wanted the first run. While his design was for a hoppy and bitter beer, it came out too much so. He gave customers the option of receiving the beer they created or waiting for their brand beer. His customers showed happiness towards it and enjoyed the product.

 

The product is now a part of Ted’s brand. It became a happy and fortunate accident for him.

 

[30:03] From Kickstarter to Dragon’s

 

Within a month of the Kickstarter campaign, Ted had pitched for Dragon’s Den. He utilized his campaign to his advantage when pitching the Dragon’s. It gave his product validation and traction. Everything seemed straight-forward and simple after that. It was a great experience for Ted and he finds great value in it. It made pitching in front of other investors and crowds easier.

 

[34:15] What’s Next for Ted?

 

Next for Ted is developing an innovative pipeline of new products. He’s expanding his line of non-alcoholic beverages to bring the greatness of non-alcoholic beverages to this market. His goal is to transform this niche and make it better for the future.

 

 

 

Episode Outline

 

Introduction: Building an Unlikely Niche on Kickstarter

 

[02:33] Why Non-Alcoholic Beverages?

[07:44] Kickstarter Campaign or Community Investment?

[14:30] Expect the Unexpected

[21:58] Accident Turned Success Story

[30:03] From Kickstarter to Dragon’s

[34:15] What’s Next for Ted?

 

 

Resources and Sponsor

 Gadget flow

Premium Near Beer

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