Fri, 18 November 2016
The Canary team didn’t start their company with crowdfunding. In fact, they had been working on the idea for roughly a year before turning to Indiegogo.
“We decided that crowdfunding would be a great way for us to validate the market a little bit,” says Jon Troutman, co-founder of the company, which offers networked home security systems.
It took the team about a month and a half to plan and prepare the campaign, but Troutman notes that they had already developed a voice for their brand and a story for their product. They didn’t devote as much time to preparation as some campaigns because they could already picture the puzzle. They just had to fit the pieces together.
And getting users involved in the process would be key to doing so. After working on Canary for a whole year, they needed an outside view. “What we’re building is so much about filling a need for people, that it felt weird to go too far into product development without bringing more people into the process,” Troutman says.
One of the great things about crowdfunding is that it lets the market decide in real time whether or not to validate your idea. In Canary’s case, it did.
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