Crowdfunding platforms like Kickstarter help you validate an idea before building it - which matters to hardware because gadgets can be costly to build.
And hardware projects are feeling the love - the top 443 projects on Kickstarter and Indiegogo (of all time) raised a total of $187.5 million in crowdfunding.
More importantly, crowdfunding levels the fundraising game for less connected entrepreneurs. You don’t need business connections and investors if you have a product people want, and effective word-of-mouth tactics. The hardware businesses listed here use referral programs to maximize their word-of-mouth, some of them (LIFX, Mellow, Pebble) major crowdfunding successes.
We've actually interviewed Mellow on our blog, check them out here: How Mellow Made $200,000+ In Preorder Sales In Less Than A Month
Melissa Tsang is a writer and speaker on the social impact of ecommerce and technology. She's also a bit of an impulse shopper. (A bit.)
Grow your sales at a ridiculously
lower CAC.