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What is the difference between crowdfunding and preorders? I think it would be a mistake not to crowdfund or use preorders unless you have significant venture b
by jmole 5y ago
What is the difference between crowdfunding and preorders? I think it would be a mistake not to crowdfund or use preorders unless you have significant venture backing and a sticky, viral consumer product where you can somewhat accurately forecast demand, or you anticipate selling out at high margins.
Don't waste your money building a product that potentially no one wants. Your crowdfunders are often the best feedback loops you'll get as a hardware startup.
- Aurum197 5y agoWe don't have venture backing yet. We were hoping to use preorders to convince vcs/angels. We really don't want to go the crowdfunding route because it has gotten increasingly gamed and crowded (!) Plus we already have a number of signups on our own website. I see a potential downside to asking our potential customers to go to a crowdfunding campaign. But you have given us something to think about.