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Presented at Crowdsourcing Week Global 2014 by Nick NM Yap, Founder & CEO at ROCKI. Join us for CSW Global 2015! More Information: http://crowdsourcingweek.com/ and https://twitter.com/CrowdWeek
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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
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
$1m | 4600+ Backers | 30 Days | Sep 2013
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
$220K | 2300+ Backers | 25 Days | Dec 2013
From Every Phone, To All Speakers, For Everyone. ROCKI. FREE YOUR MUSIC.
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
How to Raise a Million?
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
61 Projects Raised a Million
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
61 Projects Raised Over a MillionTotal 136,367 Projects
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
61 Projects Raised Over a MillionTotal 136,367 Projects
0.04%
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
61 Projects Raised Over a MillionTotal 136,367 Projects
0.04%vs odds of winning a million in a lottery is about 0.000007%
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
1213 Projects Raised Over $100KTotal 136,367 Projects
0.9%
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
59,439 Projects Successful (43.6%)Total 136,367 Projects
$1,058,366,405
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
How to Raise a Million?
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
How to Raise a Million?DON’T THINK ABOUT THE
MILLION
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
You know this clicheDON’T THINK ABOUT PINK
ELEPHANT
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Crowd
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
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.
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Build a CrowdDispersed individuals is NOT a
Crowd
Birds of a feather flock together
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
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.
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
You don’t build a businessYou build people
and then People build the Business
… Team, Users, Friends, Friends of Friends, Journalists, Investors ...
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Target-rich environmentYou have to know people in
order to know people
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Target-rich environmentYou have to know people in
order to know people
- Dr. Phil -
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Start EarlySocial Media at least a month
before.Tell everyone. Don’t be shy.
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
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
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
TraditionalPitching
Broadcast Top-down
CrowdNetworkingBuild from Bottom-up
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Value PropositionWin-Win
We Mentality
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
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
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Celebrity
Gaming
Smartwatch
3D Printing
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
XX% of >$1m Projects are Games
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
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?
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
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
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
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.
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
4000+Product Managers
30-day x 24/7 Meeting
MoreMemory
Rounder
It should have wings
I second that
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Numbers TimeKnow Your Pledge-Reward Value
Know Your Funding GoalAim to Fund within 3 Days
What size of a Team do you need?
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
New YorkSan FranciscoL.A. / San DiegoMiamiNetherlandsUKGermanySingaporeShenzhen (China)Shanghai (China)TaiwanSouth Korea
*
*
**
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
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.
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
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.
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Users
Press
The Buzz Vortex
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Users
Press
The Buzz Vortex
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Users
Press
The Buzz Vortex
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Users
Press
The Buzz Vortex
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Users
Press
The Buzz Vortex
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Make it a Crowd Fun Thing
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
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.… … … ??
Recap
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
Can you do all that on your own?
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
[ reserved space for crowdsourced input #CSWGlobal14 ]
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
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.
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
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.
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
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.
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
If you never shoot, it’s always a miss.Dutch entrepreunial spirit
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
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
Nick NM Yap @AddLikeFollow @MyRocki www.linkedin.com/in/nmyap
THANK YOUWe’re Grateful & Pay it forward