“Backwater Paddle Company is seeking investors for our Assassin Kayak Paddle project. We are looking for $100,000 to bring the full size kayak paddle to market.”
Funding…every entrepreneur and businessman’s bane! Money is the grease that makes the wheels go round! Seeking investors for your project’s future has worn the best men down. Many ideas and dreams have been crushed for lack of money. Empty bank accounts have brought down many small business’s to huge corporate entities. Money is life…at least for the continued existence of your business!
Seeking investors to perpetuate the next “big thing” is a serious endeavor for every successful businessman. You must always be growing. You must always be thinking ahead. Your competitors, and your customers, are not sitting around waiting for you to make a move. Everyone has the idea…the next “big thing.” To make a move…requires money!!
Money is everywhere! Getting it into your bank account is a whole another story! This is where financial opportunities evolve according to knowledge, skills, determination, and luck. Today, banks, credit unions, venture capitalist (VC), loans and crowd funding are the usual source for procuring investment funds.
Backwater Paddle Company has investigated VC’s and personal investors. They want a sizable chunk of your company for their investment. Banks and credit unions want monthly loan payments. In lieu of payments and stock percentages, we have decided to bring the project to fruition via crowd funding. This is a relatively low risk approach to securing necessary funds for your project.
“If you think your project is that “bad-ass”…why not invite the whole world to invest?” “Well, here we go!”
Kickstarter and Indiegogo are the two leading crowd funding sites for technology and sport related categories. (You can link to the sites by scrolling onto their names) Crowd funding is a process where individuals can pledge/invest into your project. Instead of soliciting one investor for $100,000…we procure 1000+ investors for $100 each.
So, what do the investors receive in return for their investment? Product. In our case, the investors will receive a first run Assassin Kayak Paddle. MSRP $139. Basically they receive a $40 discount on the worlds “baddest” paddle…and get it first!!
Numbers!! The only way this crowd funding works is in numbers! We have to access tens of thousands of potential investors to get the 1000+ we need to move forward. Fortunately we have over 12,000+ Backwater Paddle Company Face Book fans dedicated to paddle sports. They all have friends and families. We also have access to all our previous BPC customers contact information. This is a good start.
Kayak Angler magazine and Paddling.net, two of the major media contributors to all things paddle sports, will also contribute to spreading the word. Between the two, they have hundreds of thousands of subscribed customers waiting for the latest and greatest paddle sport products to hit the market.
A successful crowd funding campaign requires a “killer” video. Every potential investor will peruse a 2 – 3 minute product video. This product video has to relay maximum sensory visual impact in minimum time. This requires professionals. We will hire the necessary videographers and their expertise in composing this video.
Keep your eyes open for the crowd funding campaign! Spread the word!!
As the Assassin Kayak Paddle continues its journey to market, we will keep you posted on our progress. I always try to predict a debut date, but with so many factors still to be resolved…we are now hoping for spring.
The world waits…