How to Know Which Product to Crowdfund? 3 Useful Tips to Follow

How to Know Which Product to Crowdfund? 3 Useful Tips to Follow

Even though crowdfunding is a relatively old type of fundraising, the modern version of it dates back to 1997 when the British rock band Marillion invited their fans to chip in for their next tour. This successful campaign unlocked a new way of financing artists and entrepreneurs worldwide, subsequently launching such platforms as Indiegogo, Kickstarter, or GoFundMe.

It also created a new breed of scam artists that took a beautiful idea about communities coming together for a good cause and flipped it for their own nefarious needs.

There are quite a few such sad cases out there, but it doesn’t mean you must stop supporting budding artists and entrepreneurs. You just have to follow a few rules to steer clear of problematic campaigns.
1. No track record? No support

Every company in the world had humble beginnings, and it became common knowledge in Silicon Valley that most huge companies, including Microsoft and Apple, started out in one of the founder’s garages. Some companies switched their business model along the way – you might remember that Amazon started out as a tiny online bookstore.

But what all these companies have in common is that their founders either had a strong track record before they launched their golden egg or they had the necessary skills to build one. And most didn’t get their first investment before they already had a solid prototype.

Think like an investor when choosing which companies to support in crowdfunding. Ask yourself these questions before backing any project:

• Is it clear who the people and companies behind the project are?
• Is it the first time they have worked in this industry?
• Do they already have some market traction and a product they could be selling?

In many cases, novice founders are just very optimistic about their products but do not have enough experience to properly plan their development. So it’s good to back campaigns with founders who have expertise and experience or whose product is far beyond the concept stage.

A good example of a solid campaign is created by Pulsetto, a company that develops a neuromodulator device that stimulates the vagus nerve. This product helps the body enter the “rest and digest” mode and become calmer, feel better, and manage stress. The product is developed by a team of sleep experts led by sleep coach Vitalijus Majorovas.

Their team has already received a $550,000 investment from Kilo Health, the digital health company which is the 2nd fastest-growing in Europe on the Financial Times TOP 1,000 ranking, and has launched the first version of their device this summer.

The Indiegogo campaign will offer an opportunity to support the company mission, try out the product, and help create the best version of the device. It also cuts off the waiting time – if you order the device through the campaign, you will be able to try it out before Christmas this year.
2. Feels fishy? It probably is.

Yes, sometimes we all make mistakes. However, an obvious lack of care while preparing the campaign should be a clear red flag that makes you steer clear of the campaign.

The same could be said about the cohesion of the offer and the type of communication surrounding the campaign from start to finish.

You should check the refund policy, too. If there is none, or it’s not exactly clear what would happen to your money if the company cannot live up to its promises, you might reconsider backing them.

That’s especially true if you see multiple campaigns launched by the same company. Just one instance of such a campaign is iBackPack, a company that promised to create a backpack that would charge your phone. Before delivering its innovation, it actually launched a second campaign that offered a new, improved version of the backpack – and a couple of additional campaigns for similar products.

Combined, these four campaigns totaled $800,000, and none of the products were actually developed. Finally, the Federal Trade Commission took legal action against the creator.

It’s possible that you might get lucky, sure. But you could also repeat history – there are plenty of similar campaigns that failed their backers.
3. Trust, but verify

Crowdfunding campaigns focus on innovation but, in many cases, forget to show proof that they can provide the results. You will find tons of projects that are just concepts that seek out funding for development. Some companies will ask you to support a creator who is just starting out in the field. Others will provide you with a development timeline that sounds too good to be true (and it probably is).

How to deal with all of these lovely visions that might be hard to implement? Trust, but verify.

Once again, you should ensure that the crowdfunding campaign page and any other materials you can find online (company website, social media, blog posts) are mistake-free and all communicate similar messages.

Seek out any existing product users you might know, and look at the product reviews or chatter about the product on Reddit, Discord, or other forums.

Google the company and its founders and check if there are any articles by reputable news portals that cover their story. Did the company receive any awards, file any patents, or get mentioned in any research papers? Do they have a solid social media following already? A freshly made page is a sure red flag.

Any of these clues would help you figure out the next Oculus VR.

Oh, you didn’t know that this staple in VR gaming that was bought out by Facebook for $2 billion was actually crowdfunded? It used an Indiegogo campaign to create additional buzz for an already solid product. They had backing from industry influencers and strong support from the local VR community. And that was the secret to their success.

Leicester TV

Education Technology Day must be extended to prisons

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Typically thought of as being an easy to clean area of the home, hard floors have risen in popularity in recent decades. Globally, hard floors are the most common floor type,2 and research released today by Dyson has uncovered poor cleaning habits that mean hard floors are likely to be harbouring an array of hidden nasties. This comes as 32% of Brits – equating to 21.6 million people in the UK – will use the same dirty mop head for six months or more before replacing it. What’s more, one in 20 also admit to keeping the same mop for a year or longer, and one in 10 think it is acceptable to use the same mop 100 times, spreading dirt around their floors every time they use it. Cross contamination is a primary issue for most common and traditional mopping methods with germs and bacteria further being unknowingly spread around homes as Brits use dirty water to clean floors.3 45% only change the water to new water between rooms, whereas 41% wait even longer until it looks dirty. This could mean that floors are being washed with dirty water, adding more dirt rather than taking it away. Surprisingly, almost one in 10 (9%) even admit to not changing the dirty water at all when mopping. Over a quarter (28%) admit to mopping their floors once a fortnight or less while over half (53%) admit they don’t regularly clean behind appliances and leave dirt to build up for as long as six months at a time. image002.jpg On how to achieve a perfect barefoot clean feel after mopping, Geli Lee, Dyson Engineer and Home Cleaning Expert offers their top tips for eliminating dirt around the home: 1. Create a cleaning schedule to stay on top of dirt build-up. In the last year, there has been a 15% global reduction in the number of people who maintain regular cleaning schedules. 47% of the British public admitted to only being motivated to clean when they spot visible dirt or dust.4 Regular floor cleaning with a wet hard floor cleaner like the Dyson WashG1™ removes more stubborn dirt than vacuuming alone. It is important to have a debris free surface, clear any clutter from the floor or other surfaces. Choose the right machine: Different vacuums are designed for different floor types and home sizes. Some machines will be engineered with hard floors in mind and will struggle on thick pile carpets, for example. Choosing the right machine for your home will make a big difference to the ease and speed with which you’re able to clean your home. Clean your floors ‘little and often’. Washing your floors frequently in areas that receive more foot fall will help to stop dirt building up and getting trodden into your floor. Using a dedicated wet floor cleaner on hard flooring such as the Dyson WashG1 is helpful for this, as the versatile format means it vacuums and washes the floor simultaneously. Cleaning schedules have also become less regimented. In recent years only 41% of people claim to have a regular cleaning schedule, and 60% admit to cleaning reactively; being motivated to clean only when there is visible dirt or dust5. It’s perhaps not surprising, that a fifth of people are still concerned their floors are dirty after they’ve mopped them (22%) and one in four6 feel extremely worried about indoor dust at home. Geli Lee, Dyson Engineer and Home Cleaning Expert reveals why it is important to change the way we mop: “Cleaning your hard floors properly and regularly is important for maintaining a healthy environment around your home. Without a proper cleaning routine, dirt may unknowingly build up and spread around your home. It is evident from our research that current mopping habits mean British households aren’t cleaning their floors as effectively as they should. “From ignoring problem areas where dust and debris build up, cross contamination with dirty water to not replacing mop heads or inconsistent cleaning, current mopping behaviours may be making floors dirtier as opposed to cleaner. Moving away from traditional methods, wet floor cleaners like the Dyson WashG1 simplify the floor cleaning experience and provide a modern efficient and hygienic solution” To help take the guesswork out of mopping, the brand new WashG1 is Dyson’s first dedicated wet floor cleaner that tackles wet and dry debris in one go. Engineered for hygienic cleaning and maintenance, the WashG1 is revolutionising wet floor cleaning, removing the need for multi-products and multi-steps to achieve a barefoot clean feel around the home. To put the product to the test, Dyson have cleaned one of London’s most iconic landmarks The Victoria and Albert Museum. From cleaning the grand marble floors housing the most prestigious exhibits, to cleaning up leftover food in the Gamble Room Cafe, the WashG1 had a dirt busting tour of the museum leaving it spotless. Images can be found here. The WashG1 introduces Dyson’s engineering expertise to cleaning hard floors. With a 1 litre clean-water tank to cover flooring up to 290m2, the Dyson WashG1 uses a combination of hydration, absorption, and extraction technologies to remove wet and dry spills and stains simultaneously. The Dyson WashG1 is available to purchase now from Dyson.co.uk, retailing at £599.99.

Typically thought of as being an easy to clean area of the home, hard floors have risen in popularity in recent decades. Globally, hard floors are the most common floor type,2 and research released today by Dyson has uncovered poor cleaning habits that mean hard floors are likely to be harbouring an array of hidden nasties. This comes as 32% of Brits – equating to 21.6 million people in the UK – will use the same dirty mop head for six months or more before replacing it. What’s more, one in 20 also admit to keeping the same mop for a year or longer, and one in 10 think it is acceptable to use the same mop 100 times, spreading dirt around their floors every time they use it. Cross contamination is a primary issue for most common and traditional mopping methods with germs and bacteria further being unknowingly spread around homes as Brits use dirty water to clean floors.3 45% only change the water to new water between rooms, whereas 41% wait even longer until it looks dirty. This could mean that floors are being washed with dirty water, adding more dirt rather than taking it away. Surprisingly, almost one in 10 (9%) even admit to not changing the dirty water at all when mopping. Over a quarter (28%) admit to mopping their floors once a fortnight or less while over half (53%) admit they don’t regularly clean behind appliances and leave dirt to build up for as long as six months at a time. image002.jpg On how to achieve a perfect barefoot clean feel after mopping, Geli Lee, Dyson Engineer and Home Cleaning Expert offers their top tips for eliminating dirt around the home: 1. Create a cleaning schedule to stay on top of dirt build-up. In the last year, there has been a 15% global reduction in the number of people who maintain regular cleaning schedules. 47% of the British public admitted to only being motivated to clean when they spot visible dirt or dust.4 Regular floor cleaning with a wet hard floor cleaner like the Dyson WashG1™ removes more stubborn dirt than vacuuming alone. It is important to have a debris free surface, clear any clutter from the floor or other surfaces. Choose the right machine: Different vacuums are designed for different floor types and home sizes. Some machines will be engineered with hard floors in mind and will struggle on thick pile carpets, for example. Choosing the right machine for your home will make a big difference to the ease and speed with which you’re able to clean your home. Clean your floors ‘little and often’. Washing your floors frequently in areas that receive more foot fall will help to stop dirt building up and getting trodden into your floor. Using a dedicated wet floor cleaner on hard flooring such as the Dyson WashG1 is helpful for this, as the versatile format means it vacuums and washes the floor simultaneously. Cleaning schedules have also become less regimented. In recent years only 41% of people claim to have a regular cleaning schedule, and 60% admit to cleaning reactively; being motivated to clean only when there is visible dirt or dust5. It’s perhaps not surprising, that a fifth of people are still concerned their floors are dirty after they’ve mopped them (22%) and one in four6 feel extremely worried about indoor dust at home. Geli Lee, Dyson Engineer and Home Cleaning Expert reveals why it is important to change the way we mop: “Cleaning your hard floors properly and regularly is important for maintaining a healthy environment around your home. Without a proper cleaning routine, dirt may unknowingly build up and spread around your home. It is evident from our research that current mopping habits mean British households aren’t cleaning their floors as effectively as they should. “From ignoring problem areas where dust and debris build up, cross contamination with dirty water to not replacing mop heads or inconsistent cleaning, current mopping behaviours may be making floors dirtier as opposed to cleaner. Moving away from traditional methods, wet floor cleaners like the Dyson WashG1 simplify the floor cleaning experience and provide a modern efficient and hygienic solution” To help take the guesswork out of mopping, the brand new WashG1 is Dyson’s first dedicated wet floor cleaner that tackles wet and dry debris in one go. Engineered for hygienic cleaning and maintenance, the WashG1 is revolutionising wet floor cleaning, removing the need for multi-products and multi-steps to achieve a barefoot clean feel around the home. To put the product to the test, Dyson have cleaned one of London’s most iconic landmarks The Victoria and Albert Museum. From cleaning the grand marble floors housing the most prestigious exhibits, to cleaning up leftover food in the Gamble Room Cafe, the WashG1 had a dirt busting tour of the museum leaving it spotless. Images can be found here. The WashG1 introduces Dyson’s engineering expertise to cleaning hard floors. With a 1 litre clean-water tank to cover flooring up to 290m2, the Dyson WashG1 uses a combination of hydration, absorption, and extraction technologies to remove wet and dry spills and stains simultaneously. The Dyson WashG1 is available to purchase now from Dyson.co.uk, retailing at £599.99.

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