Crowdfunding is having monumental impacts upon all across all areas of entrepreneurship. Founders who would once require tens if not hundreds of thousands of dollars in seed rounds or bank financing are skipping altogether the cumbersome and costly route of equity and debt based funding and instead coming to Kickstarter.
This is changing the face of business as we know it. With just Kickstarter campaigns raising over $112 million in the first quarter of 2014 and $144 million in the second quarter; it’s clear crowdfunding is becoming a prolific player in the power struggle for startup growth.
But launching a crowdfunding campaign is no guarantee of success. I want to focus on the common failure points for Kickstarter campaigns, examine why promising startups fail and learn how to avoid these hurdles all together.
Fatal flaw #1: Poor product showmanship
As a whole, Kickstarter backers are the early adopters, the individuals always looking to get their hands on the next-gen, hip and trendy…
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