18 Days to go.
I wanted to take the time to provide an update on things.
First, I wanted to comment on the recent slowdown in new backer growth.
The campaign has definitely slowed down but new backers
continue to pledge every day, and as you know things can turn around very
quickly on Kickstarter, so I’m confident there’s plenty of time to reach my
I’ve been busy promoting the Kinkajou in my home town and all over the Internet. It’s been picked up by another blog and a large corporate newsletter here in my home town. I have a meeting this week to demo it to a local entrepreneur with a large following (this should help).
I’m also still hopeful that Kickstarter will make it a staff pick, which I think would bring enough attention to this project to ensure its success. Hint, Hint J
Secondly, it’s been great interacting with the various backers. I’ve received many emails from you with great feedback on the Kinkajou and I’ve also received a broad range of questions that I will share in this update.
Here are the some of the more popular questions.
Why am I looking for 75k and could I launch with less?
When I created this project, the most difficult decision was how much money to ask for. Asking for a smaller amount would help ensure the project got funded but could potentially put me at risk of not being able to deliver a product with the quality I envisioned. If I asked for too much the project could go nowhere. After much deliberation I decided that I did not want to compromise the quality of the final product even if it meant that the project would not get funded. My asking for 75k is based on a Breaking-Even Model that allows for a large enough production run to take advantage of the economies of scale. By the time you subtract the 7% to 9% for Kickstarter and Amazon, the cost of the master mold, all the additional 30 + parts, the shipping cost, the assembly cost, the additional cost of only using the highest level of quality parts, there is not much left over for unforeseen expenses.
My initial order will not be large enough to justify having it manufactured in China so I’m having the body manufactured in the United States. There is a higher cost to doing it this way but until the quantities are large enough I don’t have much of a choice.
I guess we will know in 18 days if this was the correct strategy but the last thing I wanted was to get funded and deliver a crappy product.
Why did I pick 30 days and not 60 days?
This is my first Kickstarter project and therefore had no experience in the pro’s and con’s of asking for more time. The Kickstarter site recommends “that projects last 30 days or less. Shorter durations have higher success rates, and will create a helpful sense of urgency around your project.”
I took this advice and selected 30 days.
I really want to see this project funded, how can I help?
I think the biggest thing this project needs is exposure. That’s why I’ve been asking all backers to hit the like button under the pitch video. Also, if you have ideas on ways I can promote this project please send them to me.
I will be positing these questions / answers and others in the FAQ section of the project.
Thanks again for all your support.