Wednesday, August 03, 2011

It’s OK to launch before you’re ready -

It’s OK to launch before you’re ready -
The LunaTic prototyping example is a good one!

"An ex-colleague of mine, Scott Wilson, has had astonishing success using a similar approach. He had a hypothesis that the iPod nano would make a great wristwatch but didn’t know whether enough potential customers would share this belief. To test market appetite, he placed a short video describing his idea on Kickstarter, a crowdfunding website, and asked people to make commitments to purchase ranging from $1 to $500. Scott’s goal was to raise $15,000 within 30 days but he actually raised almost $1m, shattering all Kickstarter records and instantly validating his designs – all without giving up a single per cent of equity. Scott now runs LunaTik, a successful company based on the watch, but had he been too scared to go public with his idea, it may never have seen the light of day."

Copyright FT respected.


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