The New Playing Field (Re-post)
This post was originally posted on Harry's personal blog.
The world has changed and has allowed inventors and innovators to bring ideas to market in a very diffent way.
In the past, when you had a great idea which had come even all the way to have a prototype and a proof of concept, you had a big obstacle to overcome, funding. You had to either raise a huge amount of cash or get some investors to buy into the idea and then trust you with their funds to get it to market. This has now changed, through services like kickstarter you have the ability to talk directly to your potential customers and get them to trust your product before even producing it. This not only helps you raise funds but gives your target customers the feeling that they are contributing in the process.
The best example of this are the TikTok+LunaTik Multi-Touch Watch Kits. The design studio that wanted to produce this gadget had the brilliant idea to put it on kickstarter and get people to pledge their money in order to get their hands on a great product. A few weeks later the project had exceeded any expectation, the original total pledge amount was $15,000 and as I type this post it has now reached $663,591!
This change is of huge benefit to people that have great ideas and can make something happen. No more time lost chasing investors and trying to persuade banks to spare their cash. If you have a great product that will make people take out their cards from their wallets and buy it, then you have no obstacle in front of you. All I have to say is good luck!
