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I have a great idea for an exciting product which has a F*ck ton of value skews. It's aimed at beginners and it services a hobby. My product makes starting that hobby a lot easier by providing the resources and instructions to begin doing it.
The products are consumable, so a customer for life is like a paid subscriber. Speaking of which, there will literally be a monthly subscription. For the sake of my example, let's say I'm selling lego sets (I'm not). Every month, I send all the subscribers a lego box and we all build it together and post our creations online via the store's socials. The top 1-3 creations will receive more prizes in the mail, as a reward for their work. These giveaways will incentivise a lot more social media content creation, definitely worth the cost.
But all these ideas are only possible with money and that leads to the golden question: I've been quoted $30,000 by multiple sourcing management companies. You know, the guys that find you a designer and a supplier etc. A product like this has a big MOQ.
So, where do I raise that kind of money? Angel investors, VC's?
I have a Shopify store that's doing ok with a conversion rate of 4%, hopefully it at least serves to show prospecting investors that I know how to do this.
The products are consumable, so a customer for life is like a paid subscriber. Speaking of which, there will literally be a monthly subscription. For the sake of my example, let's say I'm selling lego sets (I'm not). Every month, I send all the subscribers a lego box and we all build it together and post our creations online via the store's socials. The top 1-3 creations will receive more prizes in the mail, as a reward for their work. These giveaways will incentivise a lot more social media content creation, definitely worth the cost.
But all these ideas are only possible with money and that leads to the golden question: I've been quoted $30,000 by multiple sourcing management companies. You know, the guys that find you a designer and a supplier etc. A product like this has a big MOQ.
So, where do I raise that kind of money? Angel investors, VC's?
I have a Shopify store that's doing ok with a conversion rate of 4%, hopefully it at least serves to show prospecting investors that I know how to do this.
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