233: Raising Money For Scaling Via a Crowdfunding Campaign
Will Ford, President and Co-Founder of LaunchBoom, explains how hardware startups can leverage crowdfunding campaigns on Kickstarter and Indiegogo to validate products and raise growth capital without giving away excessive equity early. He details the strategy of using pre-launch testing to build an audience and convert backers into investors via equity platforms like Wefunder and StartEngine, citing Dr. Squatch as a successful example of scaling from a six-figure campaign to a massive exit. Ford emphasizes bootstrapping as long as possible and using crowdfunding proceeds to fund manufacturing and delivery, thereby increasing leverage for future venture capital or retail deals.
