EP #521 This Creator Cracked The Code For Hitting The $450K Kickstarter Milestone | Goat Story

Key Concepts:

• Crowdfunding (Kickstarter, Indiegogo)
• Storytelling in marketing
• Product-market fit
• Building in public
• Kickstarter campaign strategies
• Viral marketing
• Paid advertising
• E-commerce growth
• Offline distribution
• Testing product ideas
• Customer engagement

1. Introduction to Crowdfunding Demystified Podcast

• Salvador Brinen introduces the podcast, focusing on successful Indiegogo and Kickstarter campaigns.
• The podcast aims to educate entrepreneurs and inventors on how to achieve wildly funded campaigns.
• Since 2015, the podcast has featured over 500 episodes with interviews of entrepreneurs and inventors.
• The importance of mentorship and learning from successful individuals is emphasized.

2. Guest Introduction: An, Multi-Successful Kickstarter Campaigner

• An, a creator with multiple successful Kickstarter campaigns, is introduced.
• He raised over $91,000 for the modern Turkish coffee pot and has experience with five Kickstarter campaigns.
• His first successful campaign was in 2013, raising over $450,000 for the Goat Mug.
• An owns two brands: Goat Story (coffee-related products) and Equa (water bottles and hydration products).

3. An's Background and Brands

• Goat Story focuses on innovative coffee products, aiming to differentiate from existing market offerings.
• Equa focuses on health and lifestyle with smart hydration solutions and supplements.
• An describes himself as someone who enjoys crafting new products, sometimes getting too detailed.
• The company is based in Slovenia, Europe, with a team of 30 people.
• Their primary market is Europe, with some presence in Asia, the Middle East, and the US.

4. Why Return to Kickstarter?

• An explains that he doesn't always choose Kickstarter for product launches, but selects it when the story fits the platform's community.
• He recalls being rejected by Kickstarter early on (around 2012-2013) due to strict criteria.
• The rejections motivated him to create products and campaigns that would meet Kickstarter's standards.

5. What Makes a Product a Good Fit for Kickstarter?

• An argues that the story is more important than the product itself.
• A compelling story can capture attention and engage backers, even for simple or prototype products.
• He emphasizes the importance of telling the story well, connecting the dots, and explaining the "why" behind the product.
• Founders should be the face of the campaign, personally telling the story.
• Even existing products can succeed with a better story that resonates with a niche audience.

6. The Role of Design and Aesthetics

• An acknowledges that European companies often have a strong aesthetic sense but may lack in language and storytelling skills, especially for the US market.
• He notes the importance of intentionality and minimalism in design, reflecting a conscious approach to purchasing decisions.

7. Changes in Kickstarter Over Time

• An observes that while basic principles remain the same (a great story wins), Kickstarter has evolved.
• He believes Kickstarter's peak popularity was around 2017-2018.
• His first campaign in 2014 achieved viral success without paid advertising, unlike today.
• Today, paid advertising is essential to gain attention, but a good story still drives conversion.
• The viral effect of Kickstarter is not as strong as it once was.

8. Advice for Beginners on Kickstarter

• An advises beginners to experiment and build in public before launching a campaign.
• Share ideas on platforms like TikTok to gather feedback and build a following.
• Involve people in the development process from the beginning to gain support and test the product and story.
• He encourages sharing ideas with friends on social media to get opinions and support.

9. Addressing the Fear of Idea Theft

• An argues that everyone copies from each other to some extent.
• He suggests that even copying an idea is acceptable if the story is better and more authentic.
• He emphasizes the importance of connecting with the audience and building trust.
• There are numerous opportunities available today, so focus on building an audience and telling a compelling story.

10. Deciding Which Ideas to Pursue

• An admits that he used to rely on gut feeling, which led to costly mistakes.
• He now advocates for testing ideas early and cheaply to validate product-market fit.
• Even if shy, test ideas in markets where you are unknown to gather unbiased data.

11. Evolving Beyond Kickstarter

• An states there is no single right answer for business model evolution.
• Focus on the areas where the most money is coming in.
• He recommends diversifying beyond online sales by establishing offline distribution channels.
• For his business, 60-70% of income comes from classic retail design shops, providing a stable recurring revenue stream.
• Maintaining a strong online presence with performance marketing and viral potential is also crucial.

12. Recommended Tools and Resources

• An recommends using tools to follow trends, analyze competitors' advertising, and estimate website traffic.
• He suggests using ad managers and spy tools to see how much others are spending and assess product potential.

13. Book Recommendation and Final Thoughts

• An recommends "Storyworthy" and "How to Sell Your Story" by Matthew Dicks for learning about storytelling.
• He emphasizes that while some things change rapidly, the basics of storytelling remain the same.
• Salvador Brinen encourages listeners to take action, move towards their goals, and absorb crowdfunding knowledge.

14. Closing Remarks

• Salvador offers one-on-one coaching calls for listeners seeking personalized guidance.
• He provides the link crowdcrux.com/coaching for booking coaching sessions.
• He thanks listeners and encourages them to move towards their goals with confidence.