Nick NM-Yap - How to Raise a Million Dollars on Kickstarter?, CSWGlobal14

Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap

How To Raise A Million Dollar On Kickstarter

Nick NM Yap | CEO & Founder ROCKICrowdsourcing Week Global | Singapore 10 April 2014

$1m | 4600+ Backers | 30 Days | Sep 2013

$220K | 2300+ Backers | 25 Days | Dec 2013

From Every Phone, To All Speakers, For Everyone. ROCKI. FREE YOUR MUSIC.

How to Raise a Million?

61 Projects Raised a Million

61 Projects Raised Over a MillionTotal 136,367 Projects

0.04%vs odds of winning a million in a lottery is about 0.000007%

1213 Projects Raised Over $100KTotal 136,367 Projects

59,439 Projects Successful (43.6%)Total 136,367 Projects

$1,058,366,405

How to Raise a Million?

How to Raise a Million?DON’T THINK ABOUT THE

MILLION

You know this clicheDON’T THINK ABOUT PINK

ELEPHANT

Build a Crowd

Where are they? What are they doing? Engage each group - eg. Android fanatics, iOS fans, developers etc - each group is a mini-crowd. Then finally connect the mini-crowds into a Crowd - your

project Crowd.

Build a CrowdDispersed individuals is NOT a

Birds of a feather flock together

Build a CrowdYou can’t have a successful

Crowd-funding without a Crowd

Where are they? What are they doing? Engage each group - eg. Android fanatics, iOS fans, developers etc - each group is a mini-crowd. Then finally connect the mini-crowds into a Crowd - your

project Crowd.

You don’t build a businessYou build people

and then People build the Business

… Team, Users, Friends, Friends of Friends, Journalists, Investors ...

Target-rich environmentYou have to know people in

order to know people

Target-rich environmentYou have to know people in

order to know people

- Dr. Phil -

Start EarlySocial Media at least a month

before.Tell everyone. Don’t be shy.

What if someone steals my idea?Threat vs Opportunity

Plan to compete from Day #1Be faster, better and cheaperTell Everyone, not EverythingPhase your public info release

TraditionalPitching

Broadcast Top-down

CrowdNetworkingBuild from Bottom-up

Value PropositionWin-Win

We Mentality

What type of products raise Million(s)?Celebrity, ex-Fortune500

executives, Games, Smartwatches, 3D printing

Neil Young’s Pogo music player raised >5 million dollars

Celebrity

Gaming

Smartwatch

3D Printing

XX% of >$1m Projects are Games

Have a Good ProductHow will the product impact

people?

Is it going to change an industry? Is it going to change habits? Will it disrupt a status quo?

Is the underdog going to dethrone some incumbent?

How to Have a Good Product?Crowdsourcing

Listen, Engage, Curate & Implement

It should be an ongoing process during the entire campaignEven the entire life of the product

The Product gets personifiedBecomes an extra dimension of an Engager

How to Have a Good Product?The Micro-Product Manager

Here at Crowdsourcing Week, we’ve seen the Micro-Entrepreneur, the Micro-Journalist, Micro-Producer …

Everyone is a Producer. You can be who you want to be.

4000+Product Managers

30-day x 24/7 Meeting

MoreMemory

Rounder

It should have wings

I second that

Numbers TimeKnow Your Pledge-Reward Value

Know Your Funding GoalAim to Fund within 3 Days

What size of a Team do you need?

New YorkSan FranciscoL.A. / San DiegoMiamiNetherlandsUKGermanySingaporeShenzhen (China)Shanghai (China)TaiwanSouth Korea

Media ExposureOnline most effective, 1.5 days

effect

Huge difference between a media day and non-media day. It’s almost a full-time obsession to chase for media exposure daily

x30 days or more.

Social Media TractionPress people are also people

If you are able to proof you can gain social media traction, the press will feel more comfortable reporting about you, that you are

/ will be significant. Social media is your mini proof of concept.

The Buzz Vortex

Make it a Crowd Fun Thing

1. Don’t Think About the Million2. Build Your Crowd, Target Rich Environment, Start Early3. Build People, Crowdsource your team4. Crowd Networking, Engage, Think We5. What’s Hot : Celebrity, ex-Fortune500, Games, Smartwatch, 3D

Printing6. Have A Good Product, Crowdsource “Product Managers”,

Engage7. Know Your Pledge, Reward, Funding Goal, Fund within 3 days8. Media Exposure & Social Media Traction (The Buzz Vortex)9. Crowd Fun Thing, Run it Like a Reality Show + Game Show10.… … … ??

Can you do all that on your own?

[ reserved space for crowdsourced input #CSWGlobal14 ]

Can you do all that on your own?Crowd it

If you are a product guy, get the social, networking people involved.

If you are a networking guy, don’t get more networking people. Seriously get some product guys. You owe it to the backers to do

it right incl. organising a capable and balanced team.

Crowdsourcing is a paradigm shiftIt’s a network more like chaos

theory than a linear progression

Starts with the OneGive it a shot. Always your best shot. That’s all you can do.

When you’ve done all thatYou’ve got a Million Dollar

companymoney can’t buy

Starts with the OneGive it a shot. Always your best shot. That’s all you can do.

If you never shoot, it’s always a miss.Dutch entrepreunial spirit

It’s a Road Trip, come journey with usPlanning 2-3 more Product Crowdfunding in 2014

[ Projects of different sizes Kickstarter, Indiegogo, Local ]

Prep phase for Equity Crowdfunding [ accredited AngelList / SeedInvest | non-accredited Seedrs / CrowdCube ]

Crowdsource Video campaign[ inspired by #CSWGlobal14 to go crowdsourcing with video campaign ]

How & Where to catch the bus?

Facebook : www.facebook.com/myrocki | @MyRockiGoogle+ : gplus.to/myrocki | +Rocki

Twitter : www.twitter.com/myrocki | @MyRockiInstagram : www.instagram.com/myrocki

THANK YOUWe’re Grateful & Pay it forward

Nick NM-Yap - How to Raise a Million Dollars on Kickstarter?, CSWGlobal14

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