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Which comes first…Prototyping or Crowdfunding?
Many entrepreneurs out there have great ideas but get stuck on their first big leap into action and ask themselves…Should I prototype my idea or start crowdfunding first? Should you get started on a crowdfunding site with a great idea sketched onto a piece of paper or develop a functioning prototype to clearly communicate your idea. In short, the answer is that prototyping comes first. Having a prototype of your product idea maximizes your chances of receiving funding.
1. A prototype shows investors that you are serious. When you take the time to have a functioning prototype built you are showing any potential investor that you are committed to making this product a success. A prototype also gives you a chance to refine your idea and make sure that it is a viable product that can be built (and easily manufactured at a later date). As you will see on any crowdfunding website, a product video is key. Having an aesthetically pleasing prototype to show off in this video will help your marketing efforts and allow you to clearly explain and demonstrate your product.
2. First impressions are invaluable. Having a prototype not only provides investors with an idea about your product but it also gives them insight into you and your business. Investors want to see that you have thought this through, you are prepared and ready to execute. The quality, functionality and overall aesthetics of your prototype will allow investors to gauge your commitment and ability to handle future challenges.
3. Crowdfunding your way to success. While a prototype will help you raise capital for your product, it will also help you delve into product development and manufacturing in a more streamlined manner than if you were just starting from a paper sketch of your idea. A prototype provides a clear vision of your product and it will help you clearly communicate design and functionality aspects with your engineering and manufacturing partners.
Please feel free to contact us with any prototyping or product development questions you may have at email@example.com
3D Innovations is a full service 3D Engineering/Design company – from the 3D Design to a fully functional 3D Prototype & Product.