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Crowdfunding is our strategy of choice to launch the first ever widely available FarmBot hardware. This has actually been the strategy since I wrote the FarmBot whitepaper
about 1.5 years ago and these are the reasons why:
- Being the first to market by launching a completely new type of product is a huge reason to crowdfund something. People are looking for the new, the cutting edge, the exciting when they back a project, and a crowdfunding platform such as Kickstarter sets the stage for making a big splash.
- By creating a campaign that has a goal and finite amount of time to achieve it, you create a sense of urgency with your project that compels people to get involved now rather than later.
- Having a campaign is a big draw for the press to cover the project, ultimately driving many more people to see the project than possible with individual outreach efforts. Your message will be amplified and your project spread far and wide - much more so than quietly launching an online store and sending out some press releases.
- Crowdfunding essentially allows you to take pre-sales without having to have the final product ready to ship at the time of collecting money. This will be very important for setting up manufacturing lines, ordering parts in bulk at discount, and building the team's capacity to execute and deliver the product.
- You will be sure to get great feedback and validation on the product from hundreds or thousands of people, as well as new ideas to incorporate.
- Crowdfunding can help build a massive community that is excited to use, hack, and contribute to the technology in a matter of only 30 days.
- If the campaign is successful, you will make your business a whole lot more valuable to potential investors and also make a lot of progress without taking on any investment in exchange for equity.
In short, a crowdfunding campaign does so much more than just raise money. It is also a fantastic marketing engine, press magnet, and community builder that will bring a lot more value to your project than you may expect.