Crowdfunding is one of the most innovative ways to fund any project using basically other people’s money. There are available a lot of platforms like Indiegogo and Kickstarter where you can actually list your dream and engage people to help you funding it. The idea is a no brainer and I was looking for successful case studies. This one blew our mind.
The case study was published by ForHourWorkWeek.com and we’ve found very interesting the principles they used to have this project a massive success. Here are some of them:
“Minimum Effective Dose. MED is the smallest input needed to produce a desired outcome. For example, if you want to boil water, the MED is 212 degrees Fahrenheit. Increasing the temperature above 212 degrees will not produce a better result, it will just waste resources. We wanted to focus on the 1-3 things that would allow us to raise $100,000 in 10 days, and eliminate everything else.
Outsource and automate. These two steps allow you to get results by delegating tasks and setting up automated systems so you can focus your energy on more valuable projects. The #1 resource we found for outsourcing is Zirtual. Zirtual provides US-based virtual assistants (VAs) for as little as $97 a month. Do not run a Kickstarter campaign (or your life) without VAs. They will save you countless hours of work.
Prep and pick up. Chef’s don’t prepare meals like you and me. They don’t start 15-60 minutes before dinner. Instead, they prep everything in advance (sometimes days before), so they can just heat the food and make it look nice when it’s time to eat. This concept was critical to our success. Our goal was to do 90% of the work in advance. For example, crafting emails 2-3 days early so we just needed to click “send” when we launched.”
Get all the details here.