We launched our current Startup (Quad Lock) at the end of 2011 when we first heard of crowdfunding through Kickstarted. For us the end of 2011 was the perfect time to launch and the good news is, now’s still just as perfect! In my opinion now’s always the perfect time, no matter when you’re reading this now’s the time.
I also truly believe that never has there been as much opportunity for Startups to bootstrap their existence and growth through access to people, access to funds, ability to transact and the ability to go global from day one.
25 years ago it would have almost been impossible to bootstrap a small Melbourne based startup like ours into a multimillion dollar business with product selling in over 100 countries. Today this is now almost common place with many small bootstrapped startup companies leveraging the internet to build self sustaining businesses while reaching a worldwide audience.
Below I’ll cover some of the reasons I think this is now possible, and the best thing is everyone that has access to the internet has access to them all. I realise most of these aren’t new ideas but I wanted to make a comparison between the past and the present.
WARNING: the following information is not guaranteed to work, nor is it financial advice. This post is just a few tips based on my own personal experience.
Since successfully funding our first project the Opena Case on Kickstarter I have been asked over and over again “how’d you get on Kickstarter if you’re Australian” or “how’d you get an Amazon Payments account as an Australian”. Well as I explained in my previous post How to run a Kickstarter project if you’re not a US citizen? the first time we ran a project on Kickstarter we used my sisters detail who lives in the US, but I do now know how to run a Kickstarter project which relies on having an Amazon Payments account hooked up to an American bank account. Before we start I must mention that the process will cost you, but if you have an idea worth Kickstarting then I think it’s worth it.
Thanks to 666 awesome backers the Quad Lock is going to join the Opena Case in being a reality! The Quad Lock Kickstarter project raised over $41,000 in funding and received world wide press.
Once again the whole Kickstarter experience has been absolutely awesome and we have learnt a lot along the way. We’d like to say a massive thank you to everyone who backed our project or shared our video with there friends. We are now fully committed to fulfilling all the orders and bringing this product to the market as soon as possible wile maintaining the highest quality.
After less than 2 weeks we have successfully raised the $20K we need to make the Quad Lock a reality.
This morning I woke up to a text message from CP saying “We’re Funded”. It’s awesome to know we will now have the extra capital needed to make the Quad Lock a reality, but even better is the knowledge that others like our idea too. The project will now run for another 28 days and give others the chance to get involved and pre-order a Quad Lock.
Just a note that I still believe 30 days is the best length of time for a Kickstarter project, but as our project was going to run over Christmas and the New Year we decided to give the project an extra 10 days.
From the moment I was sent a link to a Kickstarter project (think it was TikTok) I knew I wanted to get involved with the platform and run my own project.
Note: This blog post isn’t a difinative guide as to how to run a successful Kickstarter project, but rather a few important points that are worth sharing.
Bit of background
A quick bit of background information on the product that I developed with my mate (now business partner) Chris Peters. It’s called the Opena Case and it’s an iPhone4/S protective hard case with a built in bottle opener (now selling at www.openacase.com). We started the project on 08/06/2011, we had a funding goal of $15,000 and we ran the project for 30 days. 30 days later we had successfully raised $28,303.00 thanks to our 578 absolutely awesome backers and it was heaps of fun!!
Since our first successful Kickstarter project the Opena Case – iPhone Bottle Opener we have been asked over and over again “how did you get on Kickstarter if your don’t live in America?” First thing I want to say is that we were only able to get involved with Kickstarter due to a US connection I’m lucky enough to have.
It’s not that you have to be a US citizen to launch a project on Kickstarter its the fact that Kickstarters payment capture systems relies on Amazon payments. To open an Amazon payments account you need a US bank account, because the only way to withdraw funds from an Amazon payments account is to do so into a US bank account.
We were lucky enough that my AWESOME sister had moved to the US and she was able to open a US bank account and list me as a subsidiary. She was then able to open an amazon payments account and we were set to get our project up and running.
The experience of running a project on Kickstarter was a tone of fun but I wouldn’t be too disheartened if you can’t get on Kickstarter as there are many other similar platforms starting up that you could get involved with. I also think it’s important to note that in our experience it’s the hard marketing and PR work that you put in that makes your project successful, not the fact that it’s on Kickstarter.