Racking up funds for prototypes

[VZM]

Hello everyone

Aaaand... I hit a roadblock again! I'm at the stage where I would like to create a prototype for a few reasons:
1. find out how much manufacturing will cost and finalize a design that balances cost, appearance, and functionality
2. use the prototype for advertising, in order to confirm the need for the product and start building a customer base

The problem:
This is not going to be free. Yes, I do have the money needed to pull this off, but I'd like to save that for a rainy day. I'm looking at a cost of around 4k to create a prototype, do the necessary photography/graphics/media work, and getting an ad campaign going.
The question is, where would a good place be to get that money? Most Investors and Kickstarter projects involve funding of more mature projects, with larger sums, but I am not there yet. I feel like I am erroneously looking at some kind of mainstream method, without looking outside the box.

Question 2: MJ talks about showing tangible results in order to attract investors, and ditching the business plan, but doesn't really elaborate on the topic any further. Can anyone say from experience what the tangible results could entail? I am planning to build a website, and make the whole thing look big and professional, but surely just a website wont cut it?

I feel like I am getting stuck a lot at this stage - the logistics and manufacturing and engineering is more of my thing, but at this early stage, I mostly deal with marketing and media stuff, but I am slowly plowing my way through.

Thanks!

 

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[Hong_Kong]

Hello everyone

Aaaand... I hit a roadblock again! I'm at the stage where I would like to create a prototype for a few reasons:
1. find out how much manufacturing will cost and finalize a design that balances cost, appearance, and functionality
2. use the prototype for advertising, in order to confirm the need for the product and start building a customer base

The problem:
This is not going to be free. Yes, I do have the money needed to pull this off, but I'd like to save that for a rainy day. I'm looking at a cost of around 4k to create a prototype, do the necessary photography/graphics/media work, and getting an ad campaign going.
The question is, where would a good place be to get that money? Most Investors and Kickstarter projects involve funding of more mature projects, with larger sums, but I am not there yet. I feel like I am erroneously looking at some kind of mainstream method, without looking outside the box.

Question 2: MJ talks about showing tangible results in order to attract investors, and ditching the business plan, but doesn't really elaborate on the topic any further. Can anyone say from experience what the tangible results could entail? I am planning to build a website, and make the whole thing look big and professional, but surely just a website wont cut it?

I feel like I am getting stuck a lot at this stage - the logistics and manufacturing and engineering is more of my thing, but at this early stage, I mostly deal with marketing and media stuff, but I am slowly plowing my way through.

Thanks!

If you describe what the product is, what it's made of, etc. I can make a few suggestions on how you can get the costs down.

 

[Johnny boy]

I am going to put together a course on how to make money and get sales and raise funds without having a real product yet.

Once people buy it, they'll get a message that says "it's not ready yet, it will be delivered in 2 weeks, here's a free gift in the meantime" and then I'll make the course. The course will be "just do what I did, collect money first and deliver later using the money to create the product only after getting real sales"

 

[Robdavis]

I am going to put together a course on how to make money and get sales and raise funds without having a real product yet.

Once people buy it, they'll get a message that says "it's not ready yet, it will be delivered in 2 weeks, here's a free gift in the meantime" and then I'll make the course. The course will be "just do what I did, collect money first and deliver later using the money to create the product only after getting real sales"

I suspect that kickstarter might be a platform that would support this model. If you don't get enough pledges (sales) then you don't go ahead with the product.

 

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[MitchC]

Where did you come up with the $4000 number?

 

[bpbrewer]

I've spent most of my career in manufacturing. If you think your prototype will cost you $4k, better save up $8k. Or better yet, $16k.

But then again, what is the nature of your product? Is it something you can cobble together yourself with a 3D printer, a sawing machine and a hammer?

 

[VZM]

If you describe what the product is, what it's made of, etc. I can make a few suggestions on how you can get the costs down.

Sorry... I got too caught up

Basically I figured it is impossible to use a laptop or a tablet while lying down, and after talking to people, it seems a lot that I know have this problem. I thought of a really simple one-piece holder that holds your laptop/tablet. It can be 3d printed, but aesthetics is the really big thing for me here. I was thinking it would need to be some rigid material covered in faux leather (or could make a more expensive version in real leather). Basically similar construction methods to those in tablet cases.

Thanks

 

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[Spenny]

I am going to put together a course on how to make money and get sales and raise funds without having a real product yet.

Once people buy it, they'll get a message that says "it's not ready yet, it will be delivered in 2 weeks, here's a free gift in the meantime" and then I'll make the course. The course will be "just do what I did, collect money first and deliver later using the money to create the product only after getting real sales"

Is there any specific website/thing you use to do this? Would love to replicate this strategy

 

[fl_architect]

Sorry... I got too caught up

Basically I figured it is impossible to use a laptop or a tablet while lying down, and after talking to people, it seems a lot that I know have this problem. I thought of a really simple one-piece holder that holds your laptop/tablet. It can be 3d printed, but aesthetics is the really big thing for me here. I was thinking it would need to be some rigid material covered in faux leather (or could make a more expensive version in real leather). Basically similar construction methods to those in tablet cases.

Thanks

Where are you located? Maybe I can help you figure something out.

 

[VZM]

Where are you located? Maybe I can help you figure something out.

I am just north of Toronto, in ontario.

 

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[VZM]

Well, here is something I will try do

1. I think I can build a prototype myself. As a proof of concept it should be pretty easy, but the main reason I need one is for taking pictures to make ads that I could run to check how well the market would react to such a product, as well as demo use etc.

2. not sure on the kickstarter idea, but I will try apply for a market reasearch award (5k) at the university where I am a student - I don't loose anything by giving it a go.

 

[VZM]

Is there any specific website/thing you use to do this? Would love to replicate this strategy

uhh... I think I detected sarcasm in that post...

 

[fl_architect]

uhh... I think I detected sarcasm in that post...

If it‘s allowed contact me via PM i have some ideas that might help you. Having experience in 3D Design and Architectural Visualisation I recently made product renderings for my own product (Execution thread will be posted soon : ) and the results were great. (Nobody seemed to notice (or care?) that it‘s not a physical object yet. Do you have drawings/sketches and material ideas for your product?

 

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[VZM]

If it‘s allowed contact me via PM i have some ideas that might help you. Having experience in 3D Design and Architectural Visualisation I recently made product renderings for my own product (Execution thread will be posted soon : ) and the results were great. (Nobody seemed to notice (or care?) that it‘s not a physical object yet. Do you have drawings/sketches and material ideas for your product?

I have some conceptual sketches, and a somewhat simple 3d model. I don't know much about rendering, but if it is possible to render and photoshop a model (I was considering this) I would be glad to use some info.

 

[Djo]

I am going to put together a course on how to make money and get sales and raise funds without having a real product yet.

Once people buy it, they'll get a message that says "it's not ready yet, it will be delivered in 2 weeks, here's a free gift in the meantime" and then I'll make the course. The course will be "just do what I did, collect money first and deliver later using the money to create the product only after getting real sales"

I do not know where I heard this lol

 

[Ian Thompson]

Hello everyone

Aaaand... I hit a roadblock again! I'm at the stage where I would like to create a prototype for a few reasons:
1. find out how much manufacturing will cost and finalize a design that balances cost, appearance, and functionality
2. use the prototype for advertising, in order to confirm the need for the product and start building a customer base

The problem:
This is not going to be free. Yes, I do have the money needed to pull this off, but I'd like to save that for a rainy day. I'm looking at a cost of around 4k to create a prototype, do the necessary photography/graphics/media work, and getting an ad campaign going.
The question is, where would a good place be to get that money? Most Investors and Kickstarter projects involve funding of more mature projects, with larger sums, but I am not there yet. I feel like I am erroneously looking at some kind of mainstream method, without looking outside the box.

Question 2: MJ talks about showing tangible results in order to attract investors, and ditching the business plan, but doesn't really elaborate on the topic any further. Can anyone say from experience what the tangible results could entail? I am planning to build a website, and make the whole thing look big and professional, but surely just a website wont cut it?

I feel like I am getting stuck a lot at this stage - the logistics and manufacturing and engineering is more of my thing, but at this early stage, I mostly deal with marketing and media stuff, but I am slowly plowing my way through.

Thanks!

You have me curious!

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