how a melbourne duo used crowdfunding to fully fund their business

by:Petolar     2020-07-29
For some reason, most water bottles are round, so it is difficult to put in items such as briefcases and handbags.
But a Melbourne company decided to put the water bottle design on its head and make a flat water bottle called \"Memory Bottle.
Founders Jonathan Bildt and Jesse livussi have developed enthusiasm for reducing the amount of plastic waste that has grown together in the Mornington Peninsula.
\"We spent a lot of time surfing on the beach and after a while we started to see disposable water bottles washing on the beach,\" said Jesse . \".
Their solution is
Durable dishwasherfriendly, BPA-
Free plastic bottle
However, Jonathan and Jesse worked to find money for their ideas and eventually turned to crowdfunding to get their business started.
\"We launched the Kickstarter campaign in August 2014 and it went into half
\"The virus,\" Jesse said.
\"We need $45-$15,000.
Activities of the day and full
Received funding within 36 hours.
We made $260,000 in 45 days.
But this early success was more than just the result of luck.
Prior to this, several months of in-depth research were conducted on the definition of successful crowdfunding activities.
\"I think you need to have an original idea to make a sport stand out,\" said Jesse . \".
\"It needs something innovative, different from what people see.
They also found that the most successful activities have a good image ---high-
High quality videos and pictures that convey the content of the event.
Their next step is pricing.
\"The price is always what you really need to determine, and you need to make sure that people are willing to pay the money for the product.
\"Their goal of protecting the environment is also a big advantage.
\"People don\'t buy what you\'re doing and they buy why you\'re doing it,\" says Jon . \".
They say their business success on Kickstarter has brought unexpected benefits.
It enables them to validate their business and assess market demand.
Once the event started, it also provided them with free publicity and exposure.
Their designs have even won the Academy Awards for two consecutive years. -
High-profile exposure that caught the attention of their business.
But getting a quick early success on Kickstarter also poses its own problems.
\"I think we expect to sell 300 to 500 bottles at the Kickstarter event, and we ended up selling 15,000 bottles,\" Jon said . \".
\"So we think that all the systems that we have built that will cover transportation and production, and all the other things and schedules, are completely out of date.
\"Almost overnight, the couple had 6000 customers in 72 countries, and it all happened before the first bottles rolled off the production line.
The manufacturers they originally intended to use ultimately were unable to produce standard bottles that met the promises of Jon and Jersey\'s Kickstarter supporters.
So after a problem with several manufacturers, the two flew to Taiwan to directly supervise the prototyping process.
\"We live almost every day on the floor of the factory for 5 weeks,\" says Jon, \"working with all the staff there to make sure we can lift the bottles to the level of quality we need . \".
But falling behind their production plans means dealing with a lot of unhappy customers.
\"Most of them are surprised by this . . . . . . But there must be others who like the \"Where is my bottle\" that expired 6 months ago and give me my money back.
During this time, they said, regular and honest communication with customers was helpful.
Despite the initial problems, they solved the initial problems, and Memobottle expects global and local sales to reach $3 million this year.
The two have also just completed their second Kickstarter event, launching a new round of products including custom leather satchels to facilitate transportation;
A table of various colors;
And a bottle of bottle cleaner.
Jon said: \"It\'s clear that we were very successful in both of these events, but it was also a very pleasant experience just through all the customer feedback and the exposure created for the product.
\"So I think we will go down this road again.
\"Want to find the secret of small business success on SBS at seven o\'clock A. M. on Sunday, stream on SBS as needed, or follow us on facebook, twitter or instagram.
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